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For more information contact the The Tammy Grassi Team here at 724-933-1980 x215 or visit us at www.PittsburghRealEstateHome.com
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Everyone has their own idea of the American Dream, and it's different for each person. But, in a recent survey by Bankrate, people were asked about the achievements they believe represent the American Dream the most. The answers show that owning a home still claims the #1 spot for many Americans today (see graph below):
In fact, according to the graph, owning a home is more important to people than retiring, having a successful career, or even getting a college degree. But is the dream of homeownership still alive for younger generations?
A recent survey by 1000watt dives into how the two generations many people believed would be the renter generations (Gen Z and millennials) feel about homeownership. Specifically, it asks if they want to buy a home in the future. The resounding answer is yes (see graph below):
While there are plenty of reasons why someone might prefer homeownership to renting, the same 1000watt survey shows, that for 63% of Gen Z and millennials, it’s that your place doesn’t feel like “home” unless you own it – maybe you feel the same way.
That emotional draw is further emphasized when you look at the reasons why Gen Z and millennials want to become homeowners. For all the financial benefits homeownership provides, in most cases it’s about the lifestyle or emotional benefits (see graph below):
If you’re a part of Gen Z or are a millennial and you’re ready, willing, and able to buy a home, you’ll want a great real estate agent by your side. Their experience and expertise in the local housing market will help you overcome today’s high mortgage rates, low inventory, and rising home prices to find your first home and turn your dream into a reality.
Working with a local real estate agent to find your dream home is the key to unlocking the American Dream.
Buying a home is a big, important decision that represents the heart of the American Dream. If you want to accomplish your goal, let’s connect to start the process today.
Curb Appeal: 🌼 A well-maintained exterior creates a positive first impression, drawing potential buyers in. Neglecting this can deter buyers before they even step inside.
If you want to sell your home faster and for a higher price, you need to make a good first impression on potential buyers. One of the most important factors that influences this is your home's curb appeal, or how attractive it looks from the outside. A well-maintained exterior can make your home stand out from the rest and invite buyers to explore more. On the other hand, a neglected or outdated exterior can turn buyers off and make them lose interest. Here are some simple tips to boost your home's curb appeal and increase its value.
Need help selling? Get in touch with us right away and see what we can do for you! 🏡👏🙌👍📲📞📩
𝐓𝐚𝐦𝐦𝐲 𝐆𝐫𝐚𝐬𝐬𝐢 | 𝐓𝐡𝐞 𝐓𝐚𝐦𝐦𝐲 𝐆𝐫𝐚𝐬𝐬𝐢 𝐓𝐞𝐚𝐦 | 𝐀𝐜𝐡𝐢𝐞𝐯𝐞 𝐑𝐞𝐚𝐥𝐭𝐲 | 𝐓𝐚𝐦𝐦𝐲@𝐭𝐚𝐦𝐦𝐲𝐠𝐫𝐚𝐬𝐬𝐢.𝐜𝐨𝐦 | (𝐨) 𝟕𝟐𝟒-𝟗𝟑𝟑-𝟏𝟗𝟖𝟎 𝐱𝟐𝟏𝟓 (𝐦) 𝟕𝟐𝟒-𝟑𝟐𝟏-𝟎𝟑𝟑𝟔 | 𝐰𝐰𝐰.𝐏𝐢𝐭𝐭𝐬𝐛𝐮𝐫𝐠𝐡𝐑𝐞𝐚𝐥𝐄𝐬𝐭𝐚𝐭𝐞𝐇𝐨𝐦𝐞.𝐜𝐨𝐦 | 𝐑𝐒𝟐𝟕𝟎𝟕𝟓𝟕 | 𝟏𝟏𝟔𝟕𝟔 𝐏𝐞𝐫𝐫𝐲 𝐇𝐰𝐲 𝐒𝐭𝐞 𝟑𝟏𝟎𝟏 𝐖𝐞𝐱𝐟𝐨𝐫𝐝, 𝐏𝐀 𝟏𝟓𝟎𝟗𝟎
Life is a journey filled with unexpected twists and turns, like the excitement of welcoming a new addition, retiring and starting a new adventure, or the bittersweet feeling of an empty nest. If something like this is changing in your own life, you may be considering buying or selling a house. That’s because through all these life-altering events, there is one common thread—the need to move.
According to the National Association of Realtors (NAR) there have been a lot of this type of milestone or life change over the last two years (see graph below):
And, these big life changes are going to continue to impact people moving forward, even with the current affordability challenges brought on by higher mortgage rates and rising home prices.
As Claire Trapasso, Executive News Editor at Realtor.com, says:
"Because high mortgage rates, elevated home prices, and stubbornly low inventory make today's housing market particularly challenging, many of today's buyers are motivated by life changes, such as growing families, supporting elderly parents or grown children, or accommodating professional needs. . .”
Whether you're beginning your search for a home or preparing to sell your current house, you don't have to go it alone. With their expertise, a real estate agent is an invaluable partner who can help you smoothly transition through these big moments in your life. Here are just a few examples.
If you’re welcoming a new addition and want more space, the need for a new home may be a top priority. While higher home prices and mortgage rates are creating challenges for buyers, you may have to find a way to meet your changing needs, even with today’s mortgage rates.
A skilled real estate agent can help. Their expertise and knowledge of the local housing market can save you a considerable amount of time and stress. An agent will take the time to understand your specific needs, budget, and preferences, allowing them to narrow down your search and present you with suitable options.
If you’re retiring or going through a separation or divorce, your main focus may be to make the most out of your investment when selling your house, so you can find one that works better for you moving forward.
This is another place where a real estate agent's expertise truly shines. They can accurately assess your home's market value, suggest improvements to enhance its appeal, and craft a strategic marketing plan. Their negotiation skills are a big asset when it comes to making sure you get a fair price for your house, allowing you to move on to the next chapter of your life with confidence and peace of mind.
No matter your situation, lean on a trusted professional for help as you buy or sell a home.
If recent life-changing events have you wanting or needing to move, let’s connect.
Curious about the latest real estate trends in beautiful Butler County, Pennsylvania? Join us for a quick market update that covers all the important insights you need to know. Whether you're buying, selling, or just keeping an eye on the local housing market, this update is for you!
For more information contact the The Tammy Grassi Team here at 724-933-1980 x215 or visit us at www.PittsburghRealEstateHome.com
Brokered by Achieve Realty Inc.
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If you've ever dreamed of buying your own place, or selling your current house to upgrade, you're no stranger to the rollercoaster of emotions changing home prices can stir up. It's a tale of financial goals, doubts, and a dash of anxiety that many have been through.
But if you put off moving because you’re worried home prices might drop, make no mistake, they’re not going down. In fact, it's just the opposite. National data from several sources says they’ve been going up consistently this year (see graph below):
Here’s what this graph shows. In the first half of 2022, home prices rose significantly (the green bars on the left side of the graphs above). Those increases were dramatic and unsustainable.
So, in the second half of the year, prices went through a correction and started dipping a bit (shown in red). But those slight declines were shallow and short-lived. Still, the media really focused on those drops in their headlines – and that created a lot of fear and uncertainty among consumers.
But here’s what hasn’t been covered fully. So far in 2023, prices are going up once more, but this time at a more normal pace (the green bars on the right side of the graphs above). And after price gains that were too high and then the corrections that followed in 2022, the fact that all three reports show more normal or typical price appreciation this year is good news for the housing market.
Orphe Divounguy, Senior Economist at Zillow, explains changing home prices over the past 12 months this way:
“The U.S. housing market has surged over the past year after a temporary hiccup from July 2022-January 2023. . . . That downturn has proven to be short lived as housing has rebounded impressively so far in 2023. . .”
Looking ahead, home price appreciation typically starts to ease up this time of year. As that happens, there’s some risk the media will confuse slowing price growth (deceleration of appreciation) with home prices falling (depreciation). Don’t be fooled. Slower price growth is still growth.
One reason why home prices are going back up is because there still aren't enough homes for sale for all the people who want to buy them.
Even though higher mortgage rates cause buyer demand to moderate, they also cause the supply of available homes to go down. That’s because of the mortgage rate lock-in effect. When rates rise, some homeowners are reluctant to sell and lose their current low mortgage rate just to take on a higher one for their next home.
So, with higher mortgage rates impacting both buyers and sellers, the supply and demand equation of the housing market has been affected. But since there are still more people who want to purchase homes than there are homes available to buy, prices continue to rise. As Freddie Mac states:
“While rising interest rates have reduced affordability—and therefore demand—they have also reduced supply through the mortgage rate lock-in effect. Overall, it appears the reduction in supply has outweighed the decrease in demand, thus house prices have started to increase . . .”
If you put off moving because you were worried that home prices might go down, data shows they’re increasing across the country. Let’s connect so you can understand how home prices are changing in our local area.
Did you know? The world's smallest house is just 25 square meters! 😲 Imagine the cozy vibes! 🏡
You can read it here: https://tinyurl.com/worldssmallesthouse
While moving can be stressful for anyone, it can be especially difficult for seniors. Aside from age-related mobility issues, parting with a lifetime of accumulated possessions can be time-consuming and emotionally taxing.
Fortunately, with advanced planning, the moving process can go smoothly. With a few moving day tips, most family members and loved ones can ensure that the transition is a smooth one for all parties involved. You can check out this guide that helps seniors and their families learn tips on how to make an upcoming move less stressful:
https://www.senioradvice.com/
