Complete Realty Team Explains Why You Need a Realtor to Help Buy a Home

Marietta, Georgia -

Marietta, Georgia - Local REALTOR® Complete Realty Team wants to emphasize why people who are buying a home will need the help of a Realtor. First of all, Realtors are licensed professionals and most home sellers will have a Realtor or a listing agent who is working for them. Home buyers will also need someone to represent their best interests, such as buyer’s agent or Realtor. A Realtor has access to a multiple listings service that lists the home available for sale and the features that each particular home has. And it is advisable to choose a local Realtor who is highly knowledgeable and experienced regarding a specific local market.

Having the assistance of a Realtor can also help the home buyer save a lot of time and avoid potential problems. And the home buyer need not worry about having to pay a commission to the Realtor because it is the home seller who typically pays for these.

Another key advantage of having a Realtor to help the home buyer is that the Realtor has the necessary negotiating skills, particularly with regards to the selling price. This is especially helpful for first-time home buyers who are still new to the home buying process.

Ken Mandich from Complete Realty Team says, “A lot of the work of a Realtor takes place behind the scenes. They work all hours of every day. A great Realtor will ensure that a transaction is smooth and easy and make their job seem relatively simple. In reality, that couldn't be farther from the truth. Realtors constantly absorb the stress and chaos of real estate transactions, so their clients don't feel the pressure. Buyer's agents work with clients to find properties that meet their needs and budget. Because of the number of properties available in the local market, working with buyers can be a very time-consuming activity.”

When getting the help of a Realtor to buy a home, it is also important to note that the law mandates the Realtor or real estate agent to act in the best interest of the home buyer when negotiating a deal. This is known as fiduciary duty and it can have major impact on the buyer’s decision making process. As a buyer’s agent, they are obliged to help the buyer to negotiate with sellers and their agents. This protects the buyer from unreasonable expectations from non-compensated professionals, who will benefit financially from the outcome.

Complete Realty Team has established as their main goal to allow home sellers and buyers to find the real estate agents who can help them and know how to ensure that their clients are comfortable and know and understand exactly what is happening at every step of the home selling or buying process. For home sellers, they will help in coming up with a personalized and winning strategy for selling the home as quickly and for the highest price possible. Ken Mandich is a Realtor who serves as the team leader of the group of real estate agents. He is experienced and knowledgeable in digital marketing and he uses this to help the house of the seller to be placed in front of more people who are actively looking for a home to buy. For home buyers, they will ensure to protect their investment by negotiating the best possible deal, including the terms of the contract. And they will also provide the best resources to help the home buyer in finding the best possible home financing services, homeowners’ insurance, and utilities. They provide their residential real estate expertise in Cobb County, including surrounding areas such as: Acworth, Austell, Fair Oaks, Kennesaw, Mableton, Marietta, Powder Springs, Roswell, Sandy Springs, Smyrna, and Vinings.

People who would like to learn more about the services offered by Complete Realty Team, such as offer assistance to those who want to buy a home in Marietta, can check out their website, or contact them through the telephone or via email. They can be contacted 24 hours a day, from Sunday to Saturday.

Source: Complete Realty Team Explains Why You Need a Realtor to Help Buy a Home

Where Will Home Prices Continue To Go This Year?

Whether you’re a potential homebuyer, seller, or both, you probably want to know: will home prices fall this year? Let’s break down what’s happening with home prices, where experts say they’re headed, and why this matters for your homeownership goals.

Last Year’s Rapid Home Price Growth Wasn’t the Norm

In 2021, home prices appreciated quickly. One reason why is that record-low mortgage rates motivated more buyers to enter the market. As a result, there were more people looking to make a purchase than there were homes available for sale. That led to competitive bidding wars which drove prices up. CoreLogic helps explain how unusual last year’s appreciation was:

“Price appreciation averaged 15% for the full year of 2021, up from the 2020 full year average of 6%.”

In other words, the pace of appreciation in 2021 far surpassed the 6% the market saw in 2020. And even that appreciation was greater than the pre-pandemic norm which was typically around 3.8%. This goes to show, 2021 was an anomaly in the housing market spurred by more buyers than homes for sale.

Home Price Appreciation Moderates Today

This year, home price appreciation is slowing (or decelerating) from the feverish pace the market saw over the past two years. According to the latest forecasts, experts say on average, nationwide, prices will still appreciate by roughly 10% in 2022 (see graph below):

Why do all of these experts agree prices will stay continue to rise? It’s simple. Even though housing supply is growing today, it’s still low overall thanks to several factors, including a long period of underbuilding homes. And experts say that’s going to help keep upward pressure on home prices this year. Additionally, since mortgage rates are higher this year than they were last year, buyer demand has slowed.

As the market undergoes this change, it’s true price appreciation this year won’t match the feverish pace in 2021. But the rapid appreciation the market saw last year wasn’t sustainable anyway.

What Does That Mean for You?

Today, the market is beginning to move back toward pre-pandemic levels. But even the forecast for 10% home price growth in 2022 is well beyond the 3.8% that’s more typical for a normal market.

So, despite what you may have heard, experts say home prices won’t fall in most markets. They’ll just appreciate more moderately.

If you’re worried the house you’re trying to sell or the home you want to buy will decrease in value, you should know experts aren’t calling for depreciation in most markets, just deceleration. That means your home should still grow in value, just not as fast as it did last year.

Bottom Line

If you’re thinking of making a move, you shouldn’t wait for prices to fall. Experts say nationally, prices will continue to appreciate this year, just at a more moderate pace. When you’re ready to begin the process of buying or selling, let’s connect so you have a local market expert on your side each step of the way.

Where Will Home Prices Continue To Go This Year? is republished from Complete Realty Team. Find more at: The Complete Realty Team Blog

Complete Realty Team Offers More Proof that There Isn't a Housing Bubble

Marietta, Georgia -

Marietta, Georgia - Local REALTOR® Complete Realty Team has provided more proof that there isn’t a housing bubble and that the housing market is not headed for a crash like the one experienced in 2008. They have recently released this article in response to the buzz in the media that made some people fear that the market is in a housing bubble and that a repeat of the 2008 housing market crash may occur. They want to point out that there is concrete data indicating that the current situation is nothing like the last time.

First of all, they want to emphasize that there is a shortage of homes on the market today, and not a surplus. The supply of inventory that is required for sustaining a normal real estate market is about six months. If more than that, there is a surplus and will cause the prices to go down. And if less than that, there is a shortage and will result into a continued price increase. According to data from the National Association of Realtors, unsold inventory is at the 3.0-months’ supply level at the present selling pace. Thus, there is a shortage and prices will not likely fall at this time. Instead, the opposite is true where prices are expected to go up because of the shortage.

Second, the home financing standards were much more relaxed during the crash in 2008. During the period leading to the housing crisis in 2008, it was much easier to obtain house financing compared to the present time. Data is shown that running up to 2006, banks were creating artificial demand by lowering their standards and making it easier for people to get home financing or refinancing their current home. The financial institutions back then were taking on much greater risk in both the individual and the home financing products being offered. This resulted in into mass defaults, foreclosures, and declining home prices. In contrast, home financing standards have been made stricter in recent months because of monetary policy tightening and increasing economic uncertainty. Thus, there will likely be no mass defaults and foreclosures in the near future.

And finally, it should be noted that the foreclosure volume is very different from what it was after the housing bubble burst in 2008. Furthermore, homeowners at the present time are more equity rich. In contrast, in the run up to the housing crash, some homeowners were employing their homes as personal ATMs, withdrawing their equity once it has built up. But when the home prices started to decline, some of the homeowners found themselves in a situation where the amount they owed was higher than the current equity that they have on their home. And some of them simply decided to walk away from their homes, resulting into a large number of distressed home listings that had to be sold at significant discounts. Those who are interested in knowing the location of Complete Realty Team can visit their Google Maps page at https://g.page/realtorken?share.

Complete Realty Team has the primary goal of enabling home sellers and buyers to find the real estate agents whose main priority is their clients and how to make sure that they are comfortable and know and understand exactly what is being done at every step of the home selling or buying process. With home sellers, they will help develop a personalized and winning strategy for selling the home fast and for the highest possible price. Ken Mandich is a REALTOR® who functions as the team leader of the group of real estate agents. He is well-versed in digital marketing and this enables the house of the seller to be placed in front of more people who are interested in buying a home. With home buyers, they will make sure to protect their investment by negotiating the best possible deal, including the terms of the contract. And they will also offer the best resources to help the home buyers in looking for the most appropriate utilities, home financing services, and homeowners’ insurance.

Those who would like to know more about the services provided by the Marietta REALTORS® Complete Realty Team, can visit their website, or contact them on the telephone or through email. They can be contacted 24 hours a day, from Sunday to Saturday.

Source: Complete Realty Team Offers More Proof that There Isn't a Housing Bubble

If You Are Selling A Home, Your Asking Price Matters More Now Than Ever

There’s no doubt about the fact that the housing market is slowing from the frenzy we saw over the past two years. But what does that mean for you if you’re thinking of selling your house?

While home prices are still appreciating in most markets and experts say that will continue, they’re climbing at a slower pace because rising mortgage rates are creating less buyer demand. Because of this, there are more homes on the market. And in a shift like this one, the way you price your home matters more than ever.

Why Today’s Housing Market Is Different

During the pandemic, sellers could price their homes higher because demand was so high, and supply was so low. This year, things are shifting, and that means your approach to pricing your house needs to shift too.

Because we’re seeing less buyer demand, sellers have to recognize this is a different market than it was during the pandemic. Here’s what’s at stake if you don’t.

Why Pricing Your House at Market Value Matters

 

The price you set for your house sends a message to potential buyers. If you price it too high, you run the risk of deterring buyers.

When that happens, you may have to lower the price to try to reignite interest in your house when it sits on the market for a while. But be aware that a price drop can be seen as a red flag for some buyers who will wonder what that means about the home or if in fact it’s still overpriced. Some sellers aren’t adjusting their expectations to today’s market, and realtor.com explains the impact that’s having:

“. . . the share of listings with a price cut was nearly double its year ago level even as it remains well below pre-pandemic levels.”

To avoid the headache of having to lower your price, you’ll want to price it right from the onset. A real estate advisor knows how to determine that perfect asking price. To find the right price, they balance the value of homes in your neighborhood, current market trends and buyer demand, the condition of your house, and more.

Not to mention, pricing your house fairly based on market conditions increases the chance you’ll have more buyers who are interested in purchasing it. This helps lead to stronger offers and a greater likelihood it’ll sell quickly.

Why You Still Have an Opportunity When You Sell Today

Rest assured, it’s still a sellers’ market, and you’ll still get great benefits if you plan accordingly and work with an agent to set your price at the current market value. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:

“Homes priced right are selling very quickly, but homes priced too high are deterring prospective buyers.”

Mike Simonsen, the Founder and CEO of Altos Research, also notes:

“We can see that demand is still there for the homes that are priced properly.”

Bottom Line

Home priced right are selling quickly in today’s real estate market. Let's connect to make sure you price your house based on current market conditions so you can maximize your sales potential and minimize your hassle in a shifting market.

If You Are Selling A Home, Your Asking Price Matters More Now Than Ever was first published to Complete Realty Team. Read more on: Complete Realty Team In GA

How And Why Forbearance Helped The Housing Market

When the pandemic hit in 2020, many experts thought the housing market would crash. They feared job loss and economic uncertainty would lead to a wave of foreclosures similar to when the housing bubble burst over a decade ago. Thankfully, the forbearance program changed that. It provided much-needed relief for homeowners so a foreclosure crisis wouldn’t happen again. Here’s why forbearance worked.

Forbearance enabled nearly five million homeowners to get back on their feet in a time when having the security and protection of a home was more important than ever. Those in need were able to work with their banks and lenders to stay in their homes rather than go into foreclosure. Marina Walsh, Vice President of Industry Analysis at the Mortgage Bankers Association (MBA), notes:

“Most borrowers exiting forbearance are moving into either a loan modification, payment deferral, or a combination of the two workout options."

As the graph below shows, with modification, deferral, and workout options in place, four out of every five homeowners in forbearance are either paid in full or are exiting with a plan. They’re able to stay in their homes.

What does this mean for the housing market?

Since so many people can stay in their homes and work out alternative options, there won’t be a wave of foreclosures coming to the market. And while rising slightly since the foreclosure moratorium was lifted this year, foreclosures today are still nowhere near the levels seen in the housing crisis.

Forbearance wasn’t the only game changer, either. Lending standards have improved significantly since the housing bubble burst, and that’s one more thing keeping foreclosure filings low. Today’s borrowers are much more qualified to pay their home loans.

And while the majority of homeowners are exiting the forbearance program with a plan, for those who still need to make a change due to financial hardship or other challenges, today’s record-level of equity is giving them the opportunity to sell their houses and avoid foreclosure altogether. Homeowners have options they just didn’t have in the housing crisis when so many people owed more on their mortgages than their homes were worth. Thanks to their equity and the current undersupply of homes on the market, homeowners can sell their houses, make a move, and not have to go through the foreclosure process that led to the housing market crash in 2008.

Thomas LaSalvia, Chief Economist with Moody’s Analytics, states:

“There's some excess savings out there, over 2 trillion worth. . . . There are people that have ownership of those homes right now, that even in a downturn, they'd still likely be able to pay that mortgage and won't have to hand over keys. And there won't be a lot of those distressed sales that happened in the 2008 crisis.”

Bottom Line

The forbearance program was a game changer for homeowners in need. It’s one of the big reasons why we won’t see a wave of foreclosures coming to the market.

In the market for a new home or selling yours? Reach out to us.

The Article How And Why Forbearance Helped The Housing Market is available on Complete Realty Team. Discover more on: The Complete Realty Team’s Site

Complete Realty Team: How A Realtor Can Help You

Marietta, Georgia -

Marietta, GA based Complete Realty Team (CRT) is offering their community professional assistance with all their real estate needs. As their name suggests, the agency specializes in providing a personalized service that encompasses every aspect of a client’s real estate concerns. Learn more here: Agent Near Me.

CRT’s foremost commitment is to their client, and their team has a wealth of experience working with people with varying degrees of exposure to the real estate industry. As such, they are capable of either executing plans fluidly in accordance with a client’s wishes or providing a host of options in the event the client requires more assistance. In the latter situation, Complete Realty Team also endeavors to give them all the context they need in order to make informed decisions that best suit their interests.

“If you want to sell or buy a property in Cobb County,” the agency says, “your best course of action would be to come to us. You will find our team’s assistance to be of immense value no matter how many homes you have bought or sold in the past because we implement state-of-the-art technology at every possible junction to give ourselves and our clients an edge. Further, we understand the value of the human touch, and you can always expect us to be willing to have a frank discussion with you regarding your options.”

Complete Realty Team is headed by REALTOR® Ken Mandich, who originally got into the industry by renovating and selling homes. His extensive experience in this regard means that he can now identify and track market trends with relative ease, a skill he had to perfect long ago as an independent investor. He has also personally been involved in closing deals throughout his career, and he now plies this expertise on behalf of the agency’s clients.

With Mandich’s guidance, the team is able to work with clients from virtually any background, and they begin every relationship by taking the time to understand what the client is hoping to achieve. Whatever their priorities may be, CRT will adopt them as their own, be they speed, profit or even a hassle-free experience.

“We don’t chase short-term goals,” the agency explains, “we strive to build long-term relationships. Much of our business is based on referrals and returning clients as a result, and we are exceptionally proud of this fact. Our community has come to recognize that we truly have their best interests at heart, and they can rely on us to aggressively help them achieve the outcomes they desire.”

Mandich has also invested heavily in broadening his team’s knowledge of digital marketing. An unfortunate number of real estate agents, CRT says, still rely solely on the Multiple Listing Service (MLS) to get their client’s property on the market, but this is far from the only reliable method to do so. In fact, with the right leverage, social media can often prove a far more capable tool. Complete Realty Team says their objective here is simply to find a serious buyer, and they will utilize every means at their disposal to do so.

In fact, homeowners who are looking to make a sale in the near future can get started by simply visiting the CRT website. After submitting a few details about the property on the agency’s Sell page, they will receive an estimated value for their property in less than 24 hours. While this figure is in no way intended to be completely accurate, it often serves as an educational ballpark estimate for those who want to consider their options. For a more accurate figure, the client need only get in touch with the team directly, and their agents will take over from there. A similarly simple mechanism can be found on the agency’s Buy page as well.

Anyone looking for a REALTOR® in Marietta who can simplify the real estate process needs to look no further than Complete Realty Team. Buyers, sellers, and other interested parties are invited to get in touch with Ken Mandich or another member of the CRT team to inquire further about their services.

Source: Complete Realty Team: How A Realtor Can Help You

We Are Still In A Seller’s Market

As there’s more and more talk about the real estate market cooling off from the peak frenzy it saw during the pandemic, you may be questioning what that means for your plans to sell your house. If you’re thinking of making a move, you should know the market is still anything but normal.

Even though the supply of homes for sale has been growing this year, there’s still a shortage of homes on the market. And that means conditions continue to favor sellers today. That’s because the level of inventory of homes for sale can help determine if buyers or sellers are in the driver’s seat. Think of it like this:

• A buyers’ market is when there are more homes for sale than buyers looking to buy. When that happens, buyers have the negotiation power because sellers are more willing to compromise so they can sell their house.
• In a sellers’ market, it’s just the opposite. There are too few homes available for the number of buyers in the market and that gives the seller all the leverage. In that situation, buyers will do what they can to compete for the limited number of homes for sale.
• A neutral market is when supply is balanced and there are enough homes to meet buyer demand at the current sales pace.

And for the past two years, we’ve been in a red-hot sellers’ market because inventory has been near record lows. The blue section of this graph highlights just how far below a neutral market inventory still is today.

What Does This Mean for You?

Ed Pinto, Director of the American Enterprise Institute’s Housing Center, gives a perfect summary of what’s happening in today’s market, saying:

“Overall, the best summary is that we'll move from a gangbuster sellers' market to a modest sellers' market.”

Conditions are still in your favor even though the market is cooling. If you work with an agent to price your house at market value, you’ll find success when you sell your house today. While buyer demand is softening due to higher mortgage rates, homes that are priced right are still selling fast. That means your window of opportunity to list your house hasn’t closed.

Bottom Line

Today’s housing market still favors sellers. If you’re ready to sell your house, let’s connect so you can start making your moves.

We Are Still In A Seller’s Market was originally seen on CompleteRealtyTeam.com. Discover more at: Complete Realty Team’s RE Blog

Homeownership May Make More Financial Sense Than Renting

If rising home prices leave you wondering if it makes more sense to rent or buy a home in today’s housing market, consider this. It’s not just home prices that have risen in recent years – rental prices have skyrocketed as well. As a recent article from realtor.com says:

“The median rent across the 50 largest US metropolitan areas reached $1,876 in June, a new record level for Realtor.com data for the 16th consecutive month.”

That means rising prices will likely impact your housing plans either way. But there are a few key differences that could make buying a home a more worthwhile option for you.

If You Need More Space, Buying a Home May Be More Affordable

What you may not realize is that, according to the latest data from realtor.com and the National Association of Realtors (NAR), it may actually be more affordable to buy than rent depending on how many bedrooms you need. The graph below uses the median rental payment and median mortgage payment across the country to show why.

As the graph conveys, if you need two or more bedrooms, it may actually be more affordable to buy a home even as prices rise. While this doesn’t take into consideration the interest deduction or other financial advantages that come with owning a home, it does help paint the picture that it may be more affordable to buy then rent for that unit size based on nationwide averages. So, if one of the factors motivating you to move is a desire for more space, this could be the added encouragement you need to consider homeownership.

Homeownership Also Provides Stability and a Chance To Grow Your Wealth

In addition to being more affordable depending on how many bedrooms you need, buying has two other key benefits: payment stability and equity.

When you buy a home, you lock in your monthly payment with your fixed-rate mortgage. And that’s especially important in today’s inflationary economy. With inflation, prices rise across the board for things like gas, groceries, and more. Locking in your housing payment, which is likely your largest monthly expense, can provide greater long-term stability and help shield you from those rising expenses moving forward. Renting doesn’t provide that same predictability. A recent article from CNET explains it like this:

“...if you buy a house and secure a fixed-rate mortgage, that means that no matter how much prices or interest rates go up, your fixed payment will stay the same every month. That's an advantage over renting since there's a good chance your landlord will raise your rent to counter inflationary pressures.” 

Not to mention, when you buy, you have the chance to build equity, which in turn grows your net worth. It works like this. As you pay down your home loan over time and as home values continue to appreciate, so does your equity. And that equity can make it easier to fuel a move into a future home if you decide you need a bigger home later on. Again, the CNET article mentioned above helps explain:

“Homeownership is still considered one of the most reliable ways to build wealth. When you make monthly mortgage payments, you're building equity in your home that you can tap into later on. When you rent, you aren't investing in your financial future the same way you are when you're paying off a mortgage.”

Bottom Line

If you’re trying to decide whether to keep renting or buy a home, let’s connect to explore your options. With home equity and a shield against inflation on the line, it may make more sense to buy a home if you’re able to.

Homeownership May Make More Financial Sense Than Renting is republished from CompleteRealtyTeam.com. Learn more on: Complete Realty Team Buyer’s Agent Blog

3 Graphs To Show This Isn’t a Housing Bubble

With all the headlines and buzz in the media, some consumers believe the market is in a housing bubble. As the housing market shifts, you may be wondering what’ll happen next. It’s only natural for concerns to creep in that it could be a repeat of what took place in 2008. The good news is, there’s concrete data to show why this is nothing like the last time.

There’s a Shortage of Homes on the Market Today, Not a Surplus

The supply of inventory needed to sustain a normal real estate market is approximately six months. Anything more than that is an overabundance and will causes prices to depreciate. Anything less than that is a shortage and will lead to continued price appreciation.

For historical context, there were too many homes for sale during the housing crisis (many of which were short sales and foreclosures), and that caused prices to tumble. Today, supply is growing, but there’s still a shortage of inventory available.

The graph below uses data from the National Association of Realtors (NAR) to show how this time compares to the crash. Today, unsold inventory sits at just a 3.0-months’ supply at the current sales pace.

One of the reasons inventory is still low is because of sustained underbuilding. When you couple that with ongoing buyer demand as millennials age into their peak homebuying years, it continues to put upward pressure on home prices. That limited supply compared to buyer demand is why experts forecast home prices won’t fall this time.

Mortgage Standards Were Much More Relaxed During the Crash

During the lead-up to the housing crisis, it was much easier to get a home loan than it is today. The graph below showcases data on the Mortgage Credit Availability Index (MCAI) from the Mortgage Bankers Association (MBA). The higher the number, the easier it is to get a mortgage.

Running up to 2006, banks were creating artificial demand by lowering lending standards and making it easy for just about anyone to qualify for a home loan or refinance their current home. Back then, lending institutions took on much greater risk in both the person and the mortgage products offered. That led to mass defaults, foreclosures, and falling prices.

Today, things are different, and purchasers face much higher standards from mortgage companies. Mark Fleming, Chief Economist at First American, says:

“Credit standards tightened in recent months due to increasing economic uncertainty and monetary policy tightening.” 

Stricter standards, like there are today, help prevent a risk of a rash of foreclosures like there was last time.

The Foreclosure Volume Is Nothing Like It Was During the Crash

The most obvious difference is the number of homeowners that were facing foreclosure after the housing bubble burst. Foreclosure activity has been on the way down since the crash because buyers today are more qualified and less likely to default on their loans. The graph below uses data from ATTOM Data Solutions to help tell the story:

In addition, homeowners today are equity rich, not tapped out. In the run-up to the housing bubble, some homeowners were using their homes as personal ATMs. Many immediately withdrew their equity once it built up. When home values began to fall, some homeowners found themselves in a negative equity situation where the amount they owed on their mortgage was greater than the value of their home. Some of those households decided to walk away from their homes, and that led to a wave of distressed property listings (foreclosures and short sales), which sold at considerable discounts that lowered the value of other homes in the area.

Today, prices have risen nicely over the last few years, and that’s given homeowners an equity boost. According to Black Knight:

“In total, mortgage holders gained $2.8 trillion in tappable equity over the past 12 months – a 34% increase that equates to more than $207,000 in equity available per borrower. . . .”

With the average home equity now standing at $207,000, homeowners are in a completely different position this time.

Bottom Line

If you’re worried we’re making the same mistakes that led to the housing crash, the graphs above should help alleviate your concerns. Concrete data and expert insights clearly show why this is nothing like the last time.

In short, you can buy a home now without worring about loosing large amounts of equity. If you are ready to buy or sell - just reach out to us and we can help, as well as give you more info on the market.

3 Graphs To Show This Isn’t a Housing Bubble is republished from CompleteRealtyTeam.com. Discover more at: Complete Realty Team - Ken Mandich - REALTOR - ERA Sunrise Blog

Why Are People Moving Today?

Buying a home is a major life decision. That’s true whether you’re purchasing for the first time or selling your house to fuel a move. And if you’re planning to buy a home, you might be hearing about today’s shifting market and wondering what it means for you.

While mortgage rates are higher than they were at the start of the year and home prices are rising, you shouldn’t put your plans on hold based solely on market factors. Instead, it’s necessary to consider why you want to move and how important those reasons are to you. Here are two of the biggest personal motivators driving people to buy homes today.

A Need for More Space

Moving.com looked at migration patterns to determine why people moved to specific areas. One trend that emerged was the need for additional space, both indoors and outdoors.

Outgrowing your home isn’t new. If you’re craving a large yard, more entertaining room, or just need more storage areas or bedrooms overall, having the physical space you need for your desired lifestyle may be reason enough to make a change.

A Desire To Be Closer to Loved Ones

Moving and storage company United Van Lines surveys customers each year to get a better sense of why people move. The latest survey finds nearly 32% of people moved to be closer to loved ones.

Another moving and storage company, Pods, also highlights this as a top motivator for why people move. They note that an increase in flexible work options has helped many homeowners make a move closer to the people they care about most:

“. . . a shifting of priorities has also affected why people are moving. Many companies have moved to permanent remote working policies, giving employees the option to move freely around the country, and people are taking advantage of the perk.”

If you can move to another location because of remote work, retirement, or for any other reason, you could leverage that flexibility to be closer to the most important people in your life. Being nearby for caregiving and being able to attend get-togethers and life milestones could be exactly what you’re looking for.

What Does That Mean for You?

If you’re thinking about moving, one of these reasons might be a top motivator for you. And while what’s happening with mortgage rates and home prices in the housing market today will likely play a role in your decision, it’s equally important to make sure your home meets your needs. Like Charlie Bilello, Founder and CEO of Compound Capital Advisors, says:

“Your home is your castle and should confer benefits beyond just the numbers.”

Bottom Line

There are many reasons why people decide to move. No matter what the reason may be, if your needs have changed, let’s connect to discuss your options in today’s housing market.

Why Are People Moving Today? was first published on CompleteRealtyTeam.com. Discover more on: Complete Realty Team Real Estate Agent