The Urgent Market Update You Need To See

You don’t want to face the busy spring market without a great agent. As we dive into the bustling spring real estate market, the landscape may feel familiar yet subtly different from the previous year. While inventory remains tight, there's a slight uptick in listings compared to last year, about 8% to 10%. However, amidst this flurry of activity, one critical aspect stands out: the pivotal role of selecting the right agent when buying or selling a home. The decision to buy or sell a property is significant, and the choice of your agent can make all the difference in ensuring you secure the best deal. So, what's the number one thing you can do to set yourself up for success in this process? It's simple: interview at least three agents. Feel free to watch the full message above or use these timestamps to direct you to various points in the video. 0:00 — Introducing today’s topic 1:30 — Use your network 2:30 — Do research 3:40 — Find well-reviewed agents 5:00 — Local provider network 6:30 — Wrapping up Don't hesitate to reach out if you have any questions or need guidance throughout the process. Choosing the right agent is the first step toward achieving success in the spring real estate market.

Navigating the changes in real estate after the NAR settlement. In the realm of real estate, recent headlines have sparked widespread discussion and concern. The lawsuit and settlement involving the National Association of Realtors (NAR) have led to rumors of disappearing real estate agents and the end of 6% commissions. Today, we dive deep into these developments to provide clarity and honest insights from both a licensed real estate agent and an experienced consumer perspective. Feel free to watch the full message above or use these timestamps that will direct you to various points in the video: 0:00 — Introduction 1:07 — The case in a nutshell 2:38 — The core issues 3:45 — Commissions aren’t fixed 6:43 — Issues with the system 7:35 — What will change? 9:38 — This will drive more value 10:32 — Wrapping up While sensational headlines capture attention, it's crucial to look beyond them and understand the reality of these industry changes. The settlement highlights the importance of transparency, negotiation, and value in real estate transactions. As we navigate these developments, our commitment to providing exceptional service and empowering our clients remains unwavering. For those considering a career in real estate or seeking more information on this topic, please reach out by phone or email today.

All things Folsom! Elevate is your Folsom real estate experts! Folsom, California, is a vibrant city with a rich history and an abundance of activities for locals and visitors alike. Whether you're a history buff, outdoor enthusiast, or looking for family-friendly activities, Folsom has something for everyone. Here are the top 10 things to do in Folsom, CA, that you won't want to miss. Being Folsom residents of course we absolutely LOVE LOVE it here! We wanted to share some of the best things about our beloved city.

Here’s why it does not pay to wait to purchase a home in this market. We've officially entered springtime for Real Estate, and I've been repeatedly asked whether now is a good time to buy a home. Many buyers seem hesitant, and I believe it's worth addressing. So, is now the right time to buy a home? Imagine you were considering buying a home in early spring 2023 but decided to hold off until interest rates fell. Now, if you're entering the market this year with the same expectation, it might end up costing you substantially. Here's why: First, interest rates haven't decreased; they're averaging around 7%, and there's little evidence to suggest they'll drop significantly anytime soon. Second, home values have risen 4% on average since last year. So, compared to 2023, you could end up paying $20,000 to $25,000 more for a $500,000 property this year, with interest rates remaining the same. "Your primary residence gains value as an investment over time." Furthermore, consider the long-term vision when purchasing a home. While your primary residence isn't solely an investment, it significantly contributes to your net worth over time. Those who have kept their first homes often find themselves with substantially more wealth later on. The fear of buying now due to potential future interest rate drops or price decreases lacks substantial evidence. Don't let fear hinder your ability to build long-term net worth. Remember, the average net worth of a homeowner far surpasses that of a renter. Finally, we'll be hosting an event at the end of March featuring a trust attorney discussing the importance of trusts for your family and home. This is a free event, so keep an eye out for the invitation. If you have any questions or are considering buying a home, feel free to call or email us. We're always here to help!

Understanding 2024’s high interest rates & their market impact. As we delve into the implications of the current 8.5% interest rates, it's important to understand what's driving this surge and what it means for the housing market going into 2024. With buyer demand showing signs of a slow decline due to the rate hikes, let's break down the key factors at play and offer some advice for both buyers and sellers in this evolving landscape. In regions like Sacramento, the average mortgage payment has skyrocketed to about $4,000 a month on an average sale price of $450,000. This is a significant jump from just two years ago when payments hovered around $2,600 to $2,800. Such an increase has tilted the scale, making renting a more viable option for many unless a substantial down payment can be made to lower loan balances. Interest rates for 30-year fixed mortgages have hit a 25-year peak, with projections suggesting a potential rise to 9% in 2024. This trend aligns with the historical average of about 8.5% but comes as a shock to many who've enjoyed lower rates in recent years. The primary driver behind this surge is a stronger-than-expected economy, prompting the Federal Reserve to adjust borrowing rates to manage economic growth. "Whether you're looking to buy or sell, the key is to stay informed and prepared for the market's fluctuations." Recent Fed meetings have shown a cautious approach, opting to hold interest rates while assessing new economic data. A notably robust job market report indicates a thriving economy, which could lead the Fed to increase rates further in an attempt to curb inflation and regulate jobless rates, aiming for an unemployment rate between 4% to 6%. For sellers, the beginning of 2024 might be the optimal time to list your property, anticipating potential economic challenges ahead. Buyers, on the other hand, should focus on saving for a substantial down payment rather than counting on future refinancing opportunities. Despite the high interest rates, owning a home remains a worthwhile investment compared to renting.  As we face a period of high interest rates into 2024, understanding the underlying economic factors and planning accordingly can help us navigate these challenging times. Whether you're looking to buy or sell, the key is to stay informed and prepared for the market's fluctuations. For more insights and assistance with your real estate needs, feel free to visit our website or give us a call.

Elevate Concierge is here to help relieve the stress of selling your home. Embarking on a concierge remodel journey can be a game-changer, especially when it comes to selling a property. Elevate Concierge, a unique program, takes the hassle out of renovations, managing everything from planning to execution. Today, let's delve into a recent success story that showcases the power of Elevate Concierge. We took on the task of transforming a property left by the client's mother. The house was full of sentimental belongings, and the siblings were unsure about the next steps. Within two weeks, Elevate Concierge efficiently cleared out the property, auctioning, selling, and donating the belongings. This initial step alone relieved the clients of immense stress. With a budget of $21,000, we went on to perform strategic renovations, including new flooring in bathrooms and living areas, a fresh coat of paint, updated landscaping, and a rebuilt deck. "The concierge program is not just a promise; it's a proven reality." The transformation was remarkable, adding an estimated $70,000 in value to the property, all while keeping the cost at only $15,000. Elevate Concierge's approach not only enhances the property's appeal but also simplifies the selling process for overwhelmed homeowners. From managing the logistics of property clearance to executing strategic renovations, Elevate Concierge takes care of it all. If you find yourself overwhelmed with the prospect of selling a home, consider reaching out at 916-436-SELL or visit www.homesbyelevate.com.

Sharing lucrative projects you should take on when preparing to sell. Today, let's discuss a commonly asked question regarding selling houses: the necessity of making repairs and which ones are crucial. This topic is highly searched on Google, reflecting its significance. As one of the foremost authorities on home renovations in Sacramento, having completed around 550 concierge remodels, I'll provide insights into what repairs will help maximize your return on investment. Feel free to watch the full video or use these timestamps to browse specific topics at your leisure: 0:00 — Introduction 1:05 — What usually happens when preparing a home for sale 2:05 — Paint 2:38 — Flooring 4:03 — Decluttering 5:10 — Start preparing and planning before making a move 5:38 — A reminder 6:23 — Wrapping up If you have any questions about this topic, call or email us. We’re happy to help.

Essential insights into repair negotiations for home buyers and sellers. Today, let's delve into the intricacies of interest rates and dissect the implications of the recent Federal Reserve. In case you don’t know, the Fed decided to maintain, not raise or lower, interest rates. Despite all the hype in the market, you can’t give in to sensationalism. Let me explain. While I may not be a financial markets expert, I've dedicated considerable time to studying interest rates. The recent decision by the Federal Reserve to hold interest rates was somewhat expected, given the ongoing trend in the last several meetings. Surprisingly, the economy is proving more robust and resilient than initially anticipated. The stock market reacted dramatically to this news, with speculation now circulating that interest rates might significantly decrease next year, disrupting the status quo. However, it's essential to understand that these are predictions and probabilities. Several members of the Federal Reserve Committee predict two or three rate decreases in the federal funds rate next year. This rate influences short-term interest rates like those for credit cards and car loans but doesn't directly impact the 30-year fixed rate. Over the past few weeks, 30-year fixed rates have been consistently decreasing without the Fed lowering interest rates. This underscores that these mortgages are projections of future interest rates. If you're considering a 30-year mortgage, you'd only commit to it if you expect rates to remain stable or decrease. "It’s important not to give in to the hype." Amidst the internet hype suggesting an immediate rush into the market due to potential changes, it's crucial to maintain perspective. Multiple offers were not the norm before COVID, and even with current high interest rates, we are in a multiple-market environment due to low inventory. The speculation that sellers might be more willing to move in the future if interest rates moderate down to the 5-6% range could be a reality around 2025 or 2026. However, it's essential to approach predictions with caution, as unforeseen factors can shape market dynamics. If you're contemplating buying, selling, investing, or securing a loan, remember that we're here for you; just give us a call or shoot us an email. We wish you a fantastic holiday season!

Essential insights into repair negotiations for home buyers and sellers. In the complex world of real estate transactions, repair negotiations often become a critical turning point. As a seasoned Realtor with 12 years of experience, I've navigated thousands of repair negotiations, which are frequently the main reason deals fall out of escrow. Understanding what repairs a seller is obligated to make, differentiating between necessary and optional repairs, and comprehending the implications of repair negotiations are vital in ensuring a smooth transaction. Feel free to watch the full message above or use these timestamps that will direct you to various points in the video: 0:00 — Introduction 0:58 — The seller is not obligated to make repairs 1:15 — Lender required repairs 1:39 — Optional, deferred, and cosmetic repairs 2:01 — Repairs are negotiated 4:11 — Advice for sellers 4:33 — Advice for buyers 5:48 — Wrapping up Remember, if you have questions about negotiating repairs as a buyer or seller, or if you have any questions about real estate in general, please feel free to reach out to us by phone or email. We would be delighted to serve as your resource for all of your real estate needs.