For over 79 years, Veterans Affairs (VA) home loans have helped countless Veterans achieve the dream of homeownership. But according to Veterans United, only 3 in 10 Veterans realize they may be able to buy a home without needing a down payment (see visual below): That’s why it’s so important for Veterans – and anyone who cares about a Veteran – to be aware of this valuable program. Knowing about the resources available can make the path to homeownership easier and keep life-changing plans from being put on hold. As Veterans Unitedexplains: “The ability to buy with 0% down is the signature advantage of this nearly 80-year-old benefit program. Eligible Veterans can buy as much house as they can afford, all without the need to spend years saving for a down payment.” The Advantages of VA Home Loans VA home loans are designed to make homeownership a reality for those who have served our country. These loans come with the following benefits according to the Department of Veterans Affairs: Options for No Down Payment: One of the biggest perks is that many Veterans can buy a home with no down payment at all, making it simpler to get started on your homebuying journey. Limited Closing Costs: With VA loans, there are limits on the types of closing costs Veterans have to pay. This helps keep more money in your pocket when you’re ready to finalize the sale. No Private Mortgage Insurance (PMI): Unlike many other loan types, VA loans don’t require PMI, even with lower down payments. This means lower monthly payments, which adds up to big savings over time. Your team of expert real estate professionals, including a local agent and a trusted lender, are the best resource to understand all the options and advantages available to help you achieve your homebuying goals. Bottom Line Owning a home is a key part of the American Dream, and VA home loans are a powerful benefit for those who’ve served our country. Work with a real estate professional to make sure you have everything you need to make confident decisions in the housing market.

As we step into November, the Tampa Bay real estate market remains dynamic, with shifting buyer and seller behaviors driven by economic conditions, seasonal factors, and Tampa’s steady growth as a desirable market. Here's a detailed analysis of key trends impacting buyers and sellers this month. 1. Home Prices and Appreciation Trends In November, home prices in the greater Tampa area have seen moderate appreciation. According to recent data, median home prices remain elevated compared to last year, though the rapid price growth seen in previous years has slowed. In Tampa and surrounding areas, homes continue to sell at higher-than-national-average prices, a trend attributed to ongoing demand fueled by Tampa’s growing population and its reputation as an affordable alternative to pricier metros like Miami and Orlando. While price increases have decelerated compared to the past two years, it’s worth noting that Tampa remains attractive to out-of-state buyers from high-cost regions, particularly in the Northeast and Midwest. This influx supports the market’s resilience, as out-of-state buyers often bring higher budgets and are willing to pay premium prices for Tampa properties. 2. Inventory Levels November has seen continued low inventory across the greater Tampa area, a common trend in many secondary markets. Limited housing supply persists as a challenge, partially due to a "lock-in" effect where current homeowners with low mortgage rates are reluctant to sell in today’s higher interest rate environment. Consequently, inventory levels are tight, keeping competition among buyers high, especially for move-in-ready homes. For sellers, this shortage of homes on the market creates a favorable environment, particularly for those with well-maintained properties in desirable neighborhoods. Homes in prime areas, such as South Tampa and the Westshore District, continue to attract considerable interest, and properties often receive multiple offers if they are appropriately priced. 3. Mortgage Rates Impacting Buyer Demand Mortgage rates are currently around 7-8%, a stark increase from recent years. These elevated rates have impacted affordability and buyer sentiment, especially among first-time buyers. However, despite higher rates, demand remains robust in Tampa due to its strong job market, quality of life, and relatively affordable housing options compared to other large cities. Many buyers are still active, particularly in the mid-to-upper price ranges, where buyers may have more cash on hand or are less affected by mortgage rate hikes. Additionally, some lenders are offering rate buydowns or creative financing solutions to help make homeownership more accessible. As we look ahead, industry experts speculate rates may stabilize or even decrease in 2024, potentially sparking renewed interest among rate-sensitive buyers. 4. Seasonal Trends and Holiday Market Conditions Historically, November is a slower month for real estate due to the holiday season, as buyers and sellers often pause activity in preparation for year-end. However, this year’s seasonality could be less pronounced in Tampa due to sustained demand and limited inventory. While some buyers may take a break during the holidays, motivated buyers remain active, hoping to secure deals and close before the end of the year. This can be a good time for sellers to list properties, as holiday listings face less competition, helping homes to stand out in the market. Additionally, snowbirds and retirees looking to move to Florida for the winter months also contribute to buyer demand during this season. The influx of seasonal residents and retirees ensures that Tampa’s market activity stays relatively steady compared to other regions. 5. Rental Market and Investment Opportunities The rental market in Tampa has remained strong, with rental rates steadily increasing in response to high demand. Rental properties, particularly in areas with proximity to the coast, urban amenities, and job centers, are seeing high occupancy rates. Investors continue to view Tampa as a desirable market, with returns on rental properties remaining attractive compared to other parts of Florida. Given the current interest rates, more prospective buyers are choosing to rent, pushing up rental demand. This trend creates opportunities for both local and out-of-state investors, as Tampa’s population growth supports a stable renter pool. Investors interested in multi-family properties or vacation rentals are finding good prospects in popular areas like downtown Tampa, Seminole Heights, and the Channel District. Looking Ahead: 2025 Market Projections As we approach 2025, the Tampa Bay real estate market is projected to experience moderate but steady growth, shaped by a blend of economic factors and demographic trends. Mortgage Rates Stabilization or Potential DeclineWhile rates have remained high in 2024, some economists predict they may ease in 2025, possibly encouraging a new wave of buyers. Lower rates could expand purchasing power and drive demand, especially among buyers who postponed purchasing during higher-rate periods. Continued Demand from Out-of-State BuyersTampa’s appeal to buyers from high-cost regions like the Northeast, Midwest, and West Coast is expected to remain strong. Tampa offers a relatively affordable and high-quality lifestyle compared to major metros, which is likely to keep the city attractive to remote workers, retirees, and younger families relocating to Florida. Inventory Constraints PersistInventory challenges are expected to continue, especially with many current homeowners locked into low mortgage rates, making them less likely to sell. New construction may help alleviate some of the pressure, but the housing shortage may persist, creating favorable conditions for sellers while maintaining price stability. Growth in Rental Market and Investment OpportunitiesWith Tampa’s population projected to grow, rental demand will likely stay strong, making it a favorable environment for investors. Rising rental rates and high occupancy continue to make Tampa attractive for those looking to invest in multi-family and vacation rentals, particularly in areas close to downtown and waterfronts. Resilience in Home Values and Moderate Price AppreciationWhile national price appreciation may slow, Tampa’s value retention is projected to remain stable due to high demand and limited inventory. Experts anticipate moderate home price increases in 2025, especially in prime neighborhoods, allowing sellers to still achieve strong returns. Conclusion As we look toward 2025, the Tampa Bay real estate market continues to present both challenges and opportunities. Sellers are likely to benefit from ongoing low inventory and steady demand, while buyers face some affordability hurdles from potentially high borrowing costs. However, Tampa’s strong appeal, high quality of life, and value retention offer compelling reasons for buyers to stay engaged in the market. Whether you’re considering selling, buying, or investing in 2025, staying informed on these trends can help you make strategic decisions that align with your goals. If you’re interested in discussing your options or crafting a plan for the year ahead, let’s connect to create a strategy that works best for your real estate goals!

You’ve probably noticed one thing if you’re thinking about making a move: the housing market feels a bit unpredictable right now. The truth is, from home prices to mortgage rates, we’re seeing more volatility – and it’s important to understand why. At a high-level, let’s break down what’s happening and the best way to navigate it. What’s Driving Today’s Market Volatility? Factors like economic data, unemployment numbers, decisions coming out of the Federal Reserve (The Fed), and even the presidential election, are creating uncertainty right now – and uncertainty leads to market volatility. You can see that when you look at what’s happening with mortgage rates. New economic reports and other geopolitical events have an impact and can cause sudden shifts up or down, even though experts still forecast rates will come down overall. We’ve seen that effect play out recently, like when employment and inflation data get released each month. And as the markets react, these types of updates will continue to have an impact on rates moving forward. As Greg McBride, CFA, Chief Financial Analyst at Bankrate, says:  “After steadily declining throughout the summer months, I expect more ups and downs to mortgage rates . . . Job market data will be closely watched as well as any clues from the Fed about the extent of upcoming interest rate cuts.” This is exactly why the projected decline in mortgage rates isn’t going to be a straight line down over the next year. As Hannah Jones, Senior Economic Research Analyst at Realtor.com, explains: “Rates have shown considerable volatility lately, and may continue to do so . . . Overall, we still expect a downward long-term mortgage rate trend.” Plus, home prices and the number of homes on the market vary dramatically depending on where you’re looking to buy or sell, which makes it even harder to get a clear picture. In some areas, home prices are rising and inventory is tight, while in others, there are more homes available and it’s leading to more moderate pricing shifts. As all of this unfolds, understanding what’s happening will help you make the right decisions, whether that’s buying or selling. And there’s one easy way to get that information: from a professional. The Importance of Partnering with a Pro While the road ahead may have some bumps and unexpected turns, you don’t have to go it alone. A great agent will keep you up to date on the latest market developments, guide you through any shifts, and help you make smart decisions based on your goals. For example, as mortgage rates change, professionals (like your agent and a trusted lender) will explain how the shifts impact what you can reasonably plan for in your monthly payment. This will help you see how even a small change in rates can impact your bottom line – that way you don’t lose sight of the big picture even as shifts happen here and there. And since conditions can vary significantly from one neighborhood to another, your agent will also help you understand the specifics of your market—whether it’s how to navigate competition with other buyers, the number of homes available, or what’s happening with local home prices. Their insights and expertise will help you adapt to any movement in the market. Bottom Line The housing market may be experiencing some shifts, but don’t let it stop you from making your move. With the support of an experienced real estate agent and a trusted lender, you’ll be ready to navigate the changes and make the most of the opportunities that come your way.

The Tampa Bay community has once again demonstrated its incredible resilience and unity in the face of adversity. After Hurricane Milton made landfall, the region faced significant challenges, but the collective efforts of individuals, organizations, and local governments have shown that together, we can overcome even the toughest obstacles. Immediate Response and Relief Efforts As soon as the storm passed, community members sprang into action. Local organizations and volunteers mobilized to provide immediate assistance to those affected by the hurricane. Emergency shelters opened their doors, offering refuge to families displaced by the storm, while food banks and local businesses collaborated to provide meals and essential supplies. Social media became a lifeline for sharing resources and information, with residents posting updates on road conditions, safety tips, and where to find assistance. This online camaraderie fostered a sense of hope and connection during a time of uncertainty. Rebuilding Together As the waters receded and the winds died down, the real work began. The Tampa Bay community rallied together to assess the damage and prioritize recovery efforts. Local businesses, construction companies, and volunteers joined forces to help those who lost their homes or faced extensive property damage. Numerous fundraising initiatives were launched, with local businesses donating a portion of their profits to support recovery efforts. Community events, such as benefit concerts and charity runs, brought residents together to raise money and boost morale. Long-Term Recovery and Resilience The aftermath of Hurricane Milton has highlighted the importance of long-term recovery planning. Local government officials have been working tirelessly to secure funding for infrastructure improvements, ensuring that Tampa Bay is better prepared for future storms. This includes strengthening levees, improving drainage systems, and investing in sustainable practices to protect our coastal areas. Community organizations are also focusing on mental health support for those affected by the hurricane. Programs offering counseling services and community workshops are essential in helping residents process their experiences and rebuild their lives. The Power of Community The recovery efforts following Hurricane Milton serve as a testament to the strength of the Tampa Bay community. Neighbors helping neighbors, local businesses stepping up, and volunteers donating their time and resources have created a powerful wave of support that will be felt for years to come. As we look ahead, it’s essential to remember that recovery is not just about rebuilding structures; it’s about restoring the spirit of our community. The connections forged during this challenging time will help us grow stronger and more united than ever. Get Involved If you’re looking to contribute to the recovery efforts in Tampa Bay, consider volunteering with local organizations or donating to community relief funds. Every effort, no matter how small, plays a role in rebuilding our beloved region. In the face of adversity, the Tampa Bay community continues to shine brightly, proving that together, we can overcome anything. Let’s keep the momentum going as we recover from Hurricane Milton and emerge even stronger!

Florida is no stranger to hurricanes, but each storm leaves a unique mark on the communities it touches. One such storm was Hurricane Helene, which brought significant challenges and a strong reminder of the power of nature to the Tampa Bay region. In this post, we’ll take a closer look at Helene’s impact and what we can learn from it as residents and property owners. The Arrival of Hurricane Helene Hurricane Helene developed in the Atlantic, and like many storms, it had an unpredictable path that kept meteorologists and residents on edge. By the time it neared Florida, Helene had gained enough strength to become a formidable storm, raising alarms across the Tampa Bay area. Wind and Rain: Helene brought strong winds and heavy rains to Tampa Bay, leading to widespread power outages, downed trees, and significant flooding in low-lying areas. Coastal neighborhoods experienced the brunt of the storm, with storm surges causing beach erosion and damage to homes along the shoreline. Impact on Communities The effects of Hurricane Helene were felt across the entire region, but some areas were hit harder than others: Flooding in Low-Lying Areas: Neighborhoods prone to flooding, such as those along the Hillsborough River and in parts of South Tampa, saw significant water accumulation. Streets turned into rivers, making transportation difficult and leading to property damage. Power Outages: Thousands of residents were left without power as the strong winds downed power lines and damaged infrastructure. Utility companies worked around the clock to restore service, but some areas remained in the dark for days. Coastal Damage: The storm surge and high winds caused damage to coastal properties, including homes, businesses, and recreational areas. Beaches suffered from erosion, and several waterfront properties reported significant structural damage. Lessons Learned Every hurricane brings with it valuable lessons, and Helene was no exception. Here are some takeaways that the Tampa Bay community can use to better prepare for future storms: Importance of Preparation: Having a hurricane plan is crucial. Stock up on supplies, know your evacuation routes, and have an emergency contact list ready. The time to prepare is before the storm, not during it. Property Protection: Secure your property by installing hurricane shutters, reinforcing doors, and trimming trees that could become projectiles in high winds. Flood insurance is also a wise investment, especially in vulnerable areas. Community Resilience: Helene showed the importance of community. Neighbors helping neighbors, volunteers aiding in cleanup, and local organizations providing support were all vital in the recovery process. Moving Forward: Staying Informed and Ready As we look back on Hurricane Helene, it’s a reminder of the importance of staying informed and prepared. The Tampa Bay region is resilient, but being proactive is key to minimizing the impact of future storms. Whether you’re a homeowner, renter, or business owner, understanding your risks and taking steps to protect your property can make all the difference. For those considering buying or selling real estate in the Tampa Bay area, hurricane preparedness and property resilience should be part of the conversation. If you have questions about how to safeguard your investment or need advice on navigating the market post-storm, feel free to reach out. Together, we can weather any storm that comes our way! 🏡💪 Stay safe, stay prepared, and let’s keep our community strong!

Now that you’ve decided to buy a home and are ready to make it happen, it’s a good idea to plan ahead for the costs that are a typical part of the homebuying process. And while your down payment is probably the number one expense on your mind, don’t forget about closing costs. Here’s what you need to know. What Are Closing Costs? Simply put, your closing costs are the additional fees and payments you have to make at closing. And while they’ll vary based on the price of the home and how it’s being financed, every buyer has these, so they shouldn’t be a surprise. It’s just that some people forget to budget for them. According to Freddie Mac, this part of the homebuying process typically includes:  Application fees Credit report fees Loan origination fees Appraisal fees Home inspection fees Title insurance Homeowners insurance Survey fees Attorney fees  Some of these are one-time expenses that are baked into your closing costs. Others, like homeowners’ insurance, are initial installment payments for ongoing responsibilities you’ll have once you take possession of the home. How Much Are Closing Costs?  The same Freddie Mac article goes on to say:  “Closing costs vary greatly depending on your location and the price of your home. Typically, you should be prepared to pay between 2% and 5% of the home purchase price in closing fees.” With that in mind, here’s how you can get an idea of what you’ll need to budget. Let’s say you find a home you want to purchase at today’s median price of $422,600. Based on the 2-5% Freddie Mac estimate, your closing fees could be between roughly $8,452 and $21,130.  But keep in mind, if you’re in the market for a home above or below this price range, your numbers will be higher or lower. Tips To Reduce Your Closing Costs If you’re wondering if there’s any way to inch that down a little bit, NerdWallet lists a few things that could help:  Negotiate with the Seller: Some sellers are willing to cover part or all of these expenses — especially since homes are staying on the market a bit longer now. Sellers may be more motivated to compromise, and you’ll find you have a bit more negotiation power. So don’t hesitate to ask them for concessions like paying for the home inspection or giving you a credit toward closing costs. Shop Around for Home Insurance: Since rising home insurance is a challenge in many areas of the country right now, take the time to get a clear picture of all your options. Each insurance company offers their own policies and coverage, so get multiple quotes and see how they compare. Choosing a policy that provides reliable coverage at a competitive rate can make a difference. Look into Closing Cost Assistance: Just like there are programs out there to help with your down payment, options exist to get support with closing costs too. While they’ll vary by area, there are programs for various income levels, certain professions, and specific towns or neighborhoods too. If you want to learn more, Experian says: “Your real estate professional should be able to steer you toward applicable programs, and the U.S. Department of Housing and Urban Development (HUD) maintains a helpful resource for finding homebuying assistance programs in every state.” Bottom Line Planning for the fees and payments you'll need to cover when you're closing on your home is important – and it doesn’t have to be a big surprise. For more tips and expert advice, partner with a team of trusted real estate professionals, including a trusted agent and lender.

If you’re wondering what’s going on with home prices lately, you’re definitely not the only one. With so much information out there, it can be hard to figure out your next move. As a buyer, you might be worried about paying more than you should. And if you’re thinking of selling, you might be concerned about not getting the price you’re aiming for.  So, here’s a quick breakdown to help clear things up and show you what’s really happening with prices—whether you’re thinking about buying or selling.  Home Price Growth Is Slowing, but Prices Aren’t Falling Nationally Throughout the country, home price appreciation is moderating. What that means is, prices are still going up, but they’re not rising as quickly as they were in recent years. The graph below uses data from Case-Shiller to make the shift from 2023 to 2024 clear: But rest assured, this doesn’t mean home prices are falling. In fact, all the bars in this graph show price growth. So, while you might hear talk of prices cooling, what that really means is they’re not climbing as fast as they were when they skyrocketed just a few years ago. What’s Next for Home Prices? It’s All About Supply and Demand  You might be curious where prices will go from here. The answer depends on supply and demand, and it’s going to vary by local market. Nationally, the number of homes for sale is going up, but there still aren’t enough of them to meet today’s buyer demand. That’s keeping upward pressure on prices – even though recent inventory growth has caused that home price appreciation to slow. Danielle Hale, Chief Economist at Realtor.com, said: “. . . today’s low but quickly improving for-sale inventory has ushered in more market balance than would otherwise be expected . . . This should help home prices maintain a slower pace of growth.”  And here’s one other thing you may not have considered that could play a role in where prices go from here. Since experts say mortgage rates should continue to decline, it’s likely more buyers will re-enter the market in the months ahead. If demand picks back up, that could make prices climb a bit further. Why You Should Work with a Local Real Estate Agent  While national trends give a big-picture view, real estate is always local – especially when it comes to prices. What’s happening in your neighborhood might be different from the national average based on what supply and demand look like in your market. That’s why it’s crucial to get local insights from a knowledgeable real estate agent.  As your go-to source for everything related to home prices, a local agent can provide the most current data and trends specific to your area. So, if you’re planning to sell, they can help you price your house accurately. And when you’re ready to buy, they can find the right home that fits your budget and your needs. Bottom Line Home prices are still rising, just not as quickly as before. Whether you’re thinking about buying, selling, or just curious about what your house is worth, connect with a local real estate agent today to get the personalized guidance you need.

Since the supply of homes for sale is growing and mortgage rates are coming down, you may be thinking it’s finally your moment to jump into the market. To make sure you’re ready, you need to get pre-approved for a mortgage. That’s when a lender looks at your finances, including things like your W-2, tax returns, credit score, and bank statements, to figure out what they’re willing to loan you. After that process, you’ll get a pre-approval letter to show what you can borrow. Here are two reasons why this is essential in today’s market. Pre-Approval Helps You Know Your Numbers While home affordability is finally starting to show signs of improving, it’s still tight. So, it’s a good idea to talk to a lender about your loan options and how today’s changing mortgage rates will impact your monthly payment. The pre-approval process is the perfect time for that. In addition to determining the maximum amount you can borrow, pre-approval also helps you understand this piece of the puzzle. As Investopedia says: “Consulting with a lender and obtaining a pre-approval letter allows you to discuss loan options and budgeting with the lender; this step can clarify your total house-hunting budget and the monthly mortgage payment you can afford.” You should use this information to tailor your home search to what you’re actually comfortable with budget-wise. Since mortgage rates have inched down some lately, you may find you’re able to afford a bit more than you’d expect for your monthly payment, but you still want to avoid overextending. As CNET explains: “In many cases, a lender may preapprove you for more than you need to spend on a home. And while it can be tempting to look at houses outside your budget, it won’t help you in the long run. Before you start touring homes, figure out how much you can realistically afford and stick to your budget.” Pre-Approval Makes Your Offer More Appealing And once you do find a home you want in your budget, pre-approval has another big perk. It not only makes your offer stronger, it also shows sellers you’ve already undergone a credit and financial check. When a seller sees you as a serious buyer, they may be more attracted to your offer because it seems more likely to go through. As Greg McBride, Chief Financial Analyst at Bankrate, says: “Preapproval carries more weight because it means lenders have actually done more than a cursory review of your credit and your finances, but have instead reviewed your pay stubs, tax returns and bank statements. A preapproval means you’ve cleared the hurdles necessary to be approved for a mortgage up to a certain dollar amount.” As mortgage rates trend down, more buyers are going to be ready to jump back into the market. And while demand is still limited right now, there’s the potential for competition to pick back up, especially in hot markets. So, why not stack the deck in your favor and make sure you’re putting yourself in the best position possible when you find a home you love? Bottom Line If you’re planning on buying a home, don’t forget to get pre-approved early in the process. It can help you get a more in-depth understanding of what you can borrow and shows sellers you mean business.

There are a number of reasons you may be thinking about selling your house. And as you weigh your options, you may find you’re unsure how you’re going to deal with one thing about today’s housing market – and that’s affordability. If that’s your biggest concern, understanding how much equity you have in your house could help make your decision that much easier. Here are two key factors that have a big impact on your equity. How Long You’ve Been in Your Home First up is homeowner tenure. That’s how long homeowners live in a house, on average, before selling or choosing to move. From 1985 to 2009, the average length of time homeowners stayed put was roughly six years.  But according to the National Association of Realtors (NAR), that number has been climbing. Now, the average tenure is 10 years (see graph below): Here’s why that’s such a big deal. You gain equity as you pay down your home loan and as home prices climb. And when you combine all of your mortgage payments with how much prices have gone up over the span of 10 years, that adds up. So, if you’ve lived in your house for a while now, you may be sitting on a pile of equity. How Home Prices Appreciate over Time To help show how much the price appreciation piece adds up, take a look at this data from the Federal Housing Finance Agency (FHFA) (see graph below):  Here’s what this means for you. While home prices vary by area, the typical homeowner who’s been in their house for five years saw it increase in value by nearly 60%. And the average homeowner who’s owned their home for 30 years saw it more than triple in value in that time. Whether you’re looking to downsize, relocate to a dream destination, or move so you can live closer to friends or loved ones, your equity can be a game changer. Bottom Line Connect with a local real estate agent if you want to find out how much equity you’ve built up over the years and how you can use it to buy your next home.

Luxury living is about more than just stunning views and cutting-edge smart home technology—it’s about elevating your lifestyle. And if you’re in the market for a million-dollar home, now is an excellent time to explore the thriving luxury market. Here’s why. The Number of Luxury Homes Is Growing The top of the market, or luxury homes, can mean different things depending on where you live. But in general, these are homes that are in the top 5% price range in any area. According to a recent report from Redfin, the average value of those homes has risen to over one million dollars: “The median sale price for U.S. luxury homes, defined as the top 5% of listings, rose 9% year-over-year to a record $1.18 million during the second quarter.” That same report goes on to show the percentage of homes valued at a million dollars or more has risen to an all-time high (see graph below): That means, if this is your desired price range, you have options to choose from, each with different features and styles. Whether you’re looking for the latest designs, like modern kitchens with high-end appliances, exclusive amenities, or enhanced privacy and security, the market that fits this lifestyle is growing. Your Luxury Home Is an Investment In addition, a luxury home could help you build significant long-term wealth. As the Redfin quote mentioned earlier says, luxury home prices are rising. That may be the reason there are a lot of people investing in luxury real estate right now. According to the August Luxury Market Report: “By the end of July, the overall growth in the volume of sales in 2024 stood at 14.82% for single-family homes and 11.35% for attached homes compared to the same period in 2023.” Bottom Line With more million-dollar homes on the market and prices going up, you have luxury options to choose from and a chance to build significant long-term wealth. Want to see the best homes in your area? Get in touch with a local real estate agent today.

Now that it’s September, all eyes are on the Federal Reserve (the Fed). The overwhelming expectation is that they’ll cut the Federal Funds Rate at their upcoming meeting, driven primarily by recent signs that inflation is cooling, and the job market is slowing down. Mark Zandi, Chief Economist at Moody’s Analytics, said: “They’re ready to cut, just as long as we don’t get an inflation surprise between now and September, which we won’t.” But what does this mean for the housing market, and more importantly, for you as a potential homebuyer or seller? Why a Federal Funds Rate Cut Matters The Federal Funds Rate is one of the key factors that influences mortgage rates – things like the economy, geopolitical uncertainty, and more also have an impact. When the Fed cuts the Federal Funds Rate, it signals what’s happening in the broader economy, and mortgage rates tend to respond. While a single rate cut might not lead to a dramatic drop in mortgage rates, it could contribute to the gradual decline that’s already happening. As Mike Fratantoni, Chief Economist at the Mortgage Bankers Association (MBA), points out: “Once the Fed kicks off a rate-cutting cycle, we do expect that mortgage rates will move somewhat lower.” And any upcoming Federal Funds Rate cut likely won’t be a one-time event. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says: “Generally, the rate-cutting cycle is not one-and-done. Six to eight rounds of rate cuts all through 2025 look likely.” The Projected Impact on Mortgage Rates Here’s what experts in the industry project for mortgage rates through 2025. One contributing factor to this ongoing gradual decline is the anticipated cuts from the Fed. The graph below shows the latest forecasts from Fannie Mae, MBA, NAR, and Wells Fargo (see graph below): So, with recent improvements in inflation and signs of a cooling job market, a Federal Funds Rate cut is likely to lead to a moderate decline in mortgage rates (shown in the dotted lines). Here are two big reasons why that’s good news for both buyers and sellers: 1. It Helps Alleviate the Lock-In Effect For current homeowners, lower mortgage rates could help ease the lock-in effect. That’s where people feel stuck within their current home because today’s rates are higher than what they locked in when they bought their current house. If the fear of losing your low-rate mortgage and facing higher costs has kept you out of the market, a slight reduction in rates could make selling a bit more attractive again. However, this isn’t expected to bring a flood of sellers to the market, as many homeowners may still be cautious about giving up their existing mortgage rate. 2. It Should Boost Buyer Activity For potential homebuyers, any drop in mortgage rates will provide a more inviting housing market. Lower mortgage rates can reduce the overall cost of homeownership, making it more feasible for you if you’ve been waiting to make a move. What Should You Do? While a Federal Funds Rate cut is not expected to lead to drastically lower mortgage rates, it will likely contribute to the gradual decrease that’s already happening. And while the anticipated rate cut represents a positive shift for the future of the housing market, it’s important to consider your options right now. Jacob Channel, Senior Economist at LendingTree, sums it up well: “Timing the market is basically impossible. If you’re always waiting for perfect market conditions, you’re going to be waiting forever. Buy now only if it’s a good idea for you.” Bottom Line The expected Federal Funds Rate cut, driven by improving inflation and slower job growth, is likely to have a positive, albeit gradual, impact on mortgage rates. That could help unlock opportunities for you. When you’re ready, connect with a local real estate agent so you’re prepared to take action.

Are you on the fence about whether to sell your house now or hold off? It’s a common dilemma, but here’s a key point to consider: your lifestyle might be the biggest factor in your decision. While financial aspects are important, sometimes the personal motivations for moving are reason enough to make the leap sooner rather than later. An annual report from the National Association of Realtors (NAR) offers insight into why homeowners like you chose to sell. All of the top reasons are related to life changes. As the graph below highlights: As the visual shows, the biggest motivators were the desire to be closer to friends or family, outgrowing their current house, or experiencing a significant life change like getting married or having a baby. The need to downsize or relocate for work also made the list. If you, like the homeowners in this report, find yourself needing features, space, or amenities your current home just can’t provide, it may be time to consider talking to a real estate agent about selling your house. Your needs matter. That agent will walk you through your options and what you can expect from today’s market, so you can make a confident decision based on what matters most to you and your loved ones. Your agent will also be able to help you understand how much equity you have and how it can make moving to meet your changing needs that much easier. As Danielle Hale, Chief Economist at Realtor.com, explains: “A consideration today’s homeowners should review is what their home equity picture looks like. With the typical home listing price up 40% from just five years ago, many home sellers are sitting on a healthy equity cushion. This means they are likely to walk away from a home sale with proceeds that they can use to offset the amount of borrowing needed for their next home purchase.” Bottom Line Your lifestyle needs may be enough to motivate you to make a change. If you want help weighing the pros and cons of selling your house, connect with a local real estate professional today.

If you’re thinking about downsizing, you may be hearing about 55+ communities and wondering if they’d be a good fit for you. Here’s some information that could help you make your decision. What Is a 55+ Community? It’s important to note that these communities aren’t just for people who need extra support – they can be pretty vibrant, too. Many people who are downsizing opt for this type of home because they’re looking to be surrounded by people in a similar season of life. U.S. News explains: “The terms ‘55-plus community,’ ‘active adult community,’ ‘lifestyle communities’ and ‘planned communities’ refer to a setting that caters to the needs and preferences of adults over the age of 55. These communities are designed for seniors who are able to care for themselves but may be looking to downsize to a community with others their same age and with similar interests.” Why It’s Worth Considering This Type of Home If that sounds like something that may interest you, here’s one thing to consider. You may find you’ve got a growing list of options if you look at this type of community. According to 55places.com, the number of listings tailored for homebuyers in this age group has increased by over 50% compared to last year. And a bigger pool of options could make your move much less stressful because it’s easier to find something that’s specifically designed to meet your needs. Other Benefits of 55+ Communities On top of that, there are other benefits to seeking out this type of home. An article from 55places.com, highlights just a few: Lower-Maintenance Living: Tired of mowing the lawn or pulling weeds? Many of these communities take care of this for you. So, you can spend more time doing fun things, and less time on maintenance. On-Site Amenities: Some feature lifestyle amenities like a clubhouse, fitness center, and more, so it’s easy to stay active. Plus, others offer media rooms, libraries, spas, arts and craft studios, and more. Like-Minded Neighbors: Additionally, these types of homes usually offer clubs, outings, meet-ups, and more to foster a close-knit community. Accessible Floor Plans: Not to mention, many have first-floor living options, ample storage spaces, and modern floor plans so you can have a home tailored to this phase in your life. Bottom Line If this sounds appealing to you, reach out to a local real estate agent. They’ll be able to walk you through what’s available in your area and the unique amenities for each community. You may find a 55+ home is exactly what you’ve been searching for.

If you’ve been keeping an eye on the housing market over the past couple of years, you know sellers have had the upper hand. But is that going to shift now that inventory is growing? Here’s a breakdown of what you need to know. What Is a Balanced Market? A balanced market is generally defined as a market with about a five-to-seven-month supply of homes available for sale. In this type of market, neither buyers nor sellers have a clear advantage. Prices tend to stabilize, and there’s a healthier number of homes to choose from. And after many years when sellers had all the leverage, a more balanced market would be a welcome sight for people looking to move. The question is – is that really where the market is headed? After starting the year with a three-month supply of homes nationally, inventory has increased to four months. That may not sound like a lot, but it means the market is getting closer to balanced – even though it’s not quite there yet. It’s important to note this increase in inventory is not leading to an oversupply that would cause a crash. Even with the growth lately, there’s still nowhere near enough supply for that to happen. The graph below uses data from the National Association of Realtors (NAR) to give you an idea of where inventory has been in the past, and where it’s at today: For now, this is still seller’s market territory – it’s just not as frenzied of a seller’s market as it’s been over the past few years. As Mark Fleming, Chief Economist at First American, says: “The faster housing supply increases, the more affordability improves and the strength of a seller’s market wanes.” What This Means for You and Your Move Here’s how this shift impacts you and the market conditions you’ll face when you move. Lawrence Yun, Chief Economist at NAR, explains: “Homes are sitting on the market a bit longer, and sellers are receiving fewer offers. More buyers are insisting on home inspections and appraisals, and inventory is definitively rising on a national basis.” The graphs below use the latest data from NAR and Realtor.com to help show examples of these changes: Homes Are Sitting on the Market Longer: Since more homes are on the market, they’re not selling quite as fast. For buyers, this means you may have more time to find the right home. For sellers, it’s important to price your house right if you want it to sell. If you don’t, buyers might choose better-priced options. Sellers Are Receiving Fewer Offers: As a seller, you might need to be more flexible and willing to compromise on price or terms to close the deal. For buyers, you could start to face less intense competition since you have more options to choose from. Fewer Buyers Are Waiving Inspections: As a buyer, you have more negotiation power now. And that’s why fewer buyers are waiving inspections. For sellers, this means you need to be ready to negotiate and address repair requests to keep the sale moving forward. How a Real Estate Agent Can Help But this is just the national picture. The type of market you’re in is going to vary a lot based on how much inventory is available. So, lean on a local real estate agent for insight into how your area stacks up. Whether you’re buying or selling, understanding how the market is changing gives you a big advantage. Your agent has the latest data and local insights, so you know exactly what’s happening and how to navigate it. Bottom Line The real estate market is always changing, and it’s important to stay informed. Whether you’re buying or selling, understanding this shift toward a balanced market can help. If you have any questions or need expert advice, don’t hesitate to reach out to a local real estate agent.

Starting October 1, 2024, a new law in Florida will impact how real estate transactions are conducted across the state. Under Florida Statute 689.302, sellers of residential real property must complete and provide a flood disclosure to buyers at or before the time a contract is executed. This new requirement aims to enhance transparency in real estate transactions by ensuring buyers are fully informed of any potential flood risks associated with a property. What Sellers Need to Know About the New Disclosure Requirement If you’re planning to sell your home in Florida, it’s important to understand the specifics of the new flood disclosure requirement. Here’s what you need to know: What Information Must Sellers Disclose? Under the new law, sellers are required to disclose the following: Insurance Claims Related to Flood Damage:Sellers must disclose whether they have ever filed a claim with their insurance provider for flood damage to the property. This includes any claims related to flood events, regardless of the amount of damage or whether the claim was approved or denied. Federal Assistance for Flood Damage:Sellers must also disclose whether they have received any federal assistance for flood damage to the property. This could include disaster relief funds from FEMA or other federal programs designed to help property owners recover from flood-related events. What is Considered “Flooding” Under the New Law? To comply with Florida Statute 689.302, it’s essential to understand what qualifies as “flooding” for disclosure purposes. The law defines "flooding" as a general or temporary condition of partial or complete inundation of the property caused by any of the following: The Overflow of Inland or Tidal Waters:This includes situations where water from a river, lake, or ocean overflows its normal boundaries and inundates nearby properties. The Unusual and Rapid Accumulation of Runoff or Surface Waters:Flooding may occur due to a sudden accumulation of runoff or surface water from any established water source, such as heavy rainwater or melting snow. An established water source can be a river, stream, drainage ditch, or similar body of water. Sustained Periods of Standing Water Resulting from Rainfall:Even if the water does not originate from an established body of water, sustained periods of standing water on the property due to excessive rainfall are considered “flooding” under the new law. Why Is This Disclosure Important? The new flood disclosure requirement aims to provide buyers with a clearer understanding of the potential risks associated with a property. In a state like Florida, where flood risks are prevalent due to its unique geography and weather patterns, this transparency is crucial. By disclosing any history of flood claims or federal assistance, sellers offer buyers an opportunity to make more informed decisions, consider necessary precautions, and better assess the value and insurability of a property. How Should Sellers Prepare for This New Requirement? To comply with the new law, sellers should take the following steps: Review Past Records:Gather any records related to flood damage, insurance claims, and federal assistance received for flood-related events. This may include documentation from your insurance provider or federal agencies such as FEMA. Understand the Legal Requirements:Familiarize yourself with the specifics of Florida Statute 689.302 to ensure you understand what needs to be disclosed and the definition of “flooding” as per the law. Complete the Flood Disclosure Form:Work with your real estate agent or legal advisor to accurately complete the flood disclosure form. This form should be provided to potential buyers either before or at the time of contract signing. Be Transparent and Upfront:Full transparency is not only a legal requirement but also a best practice in real estate transactions. Being upfront about any flood damage history can prevent disputes, build trust with buyers, and facilitate a smoother sales process. What Does This Mean for Buyers? For buyers, this new requirement ensures greater transparency regarding the potential flood risks of a property. Buyers should: Carefully Review the Flood Disclosure Form:Make sure to thoroughly review the seller’s disclosure for any indications of past flood damage or federal assistance received. If something is unclear, don’t hesitate to ask questions. Conduct Additional Research:Use resources like FEMA flood maps or consult local flood risk data to gain a comprehensive understanding of the property’s flood risk. Seek Professional Advice:Consider consulting with a real estate professional, home inspector, or flood risk expert to fully understand the implications of any disclosures. Conclusion The new flood disclosure requirement in Florida represents an important step toward greater transparency in real estate transactions. Whether you’re a seller or a buyer, being informed and prepared for this change is crucial to navigating the real estate market effectively. By understanding and complying with Florida Statute 689.302, sellers can ensure a smoother transaction process, while buyers gain essential insights to make confident, informed decisions. Stay tuned for more updates on real estate regulations and tips on how to navigate the changing landscape of the Florida housing market!

Looking ahead to 2025, it’s important to know what experts are projecting for the housing market. And whether you’re thinking of buying or selling a home next year, having a clear picture of what they’re calling for can help you make the best possible decision for your homeownership plans. Here’s an early look at the most recent projections on mortgage rates, home sales, and prices for 2025. Mortgage Rates Are Projected To Come Down Slightly Mortgage rates play a significant role in the housing market. The forecasts for 2025 from Fannie Mae, the Mortgage Bankers Association (MBA), the National Association of Realtors (NAR), and Wells Fargo show an expected gradual decline in mortgage rates over the course of the next year (see chart below): Mortgage rates are projected to come down because continued easing of inflation and a slight rise in unemployment rates are key signs of a strong but slowing economy. And many experts believe these signs will encourage the Federal Reserve to lower the Federal Funds Rate, which tends to lead to lower mortgage rates. As Morgan Stanley says: “With the U.S. Federal Reserve widely expected to begin cutting its benchmark interest rate in 2024, mortgage rates could drop as well—at least slightly.” Expect More Homes To Sell The market will see an increase in both the supply of available homes on the market, as well as a rise in demand, as more buyers and sellers who have been sitting on the sidelines because of higher rates choose to make a move. That’s one big reason why experts are projecting an increase in home sales next year. According to Fannie Mae, MBA, and NAR, total home sales are forecast to climb slightly, with an average of about 5.4 million homes expected to sell in 2025 (see graph below): That would represent a modest uptick from the lower sales numbers in 2023 and 2024. For reference, about 4.8 million total homes were sold in 2023, and expectations are for around 4.5 million homes to sell this year. While slightly lower mortgage rates are not expected to bring a flood of buyers and sellers back to the market, they certainly will get more people moving. That means more homes available for sale – and competition among buyers who want to purchase them. Home Prices Will Go Up Moderately More buyers ready to jump into the market will put continued upward pressure on prices. Take a look at the latest price forecasts from 10 of the most trusted sources in real estate (see graph below): On average, experts forecast home prices will rise nationally by about 2.6% next year. But as you can see, there’s a range of opinions on how much prices will climb. Experts agree, however, that home prices will continue to increase moderately next year at a slower, more normal rate. But keep in mind, prices will always vary by local market. Bottom Line Understanding 2025 housing market forecasts can help you plan your next move. Whether you're buying or selling, staying informed about these trends will ensure you make the best decision possible. Reach out to a trusted real estate agent to discuss how these forecasts could impact your plans.

It’s no surprise that the upcoming Presidential election might have you speculating about what’s ahead. And those unanswered thoughts can quickly spiral, causing fear and uncertainty to swirl through your mind. So, if you’ve been considering buying or selling a home this year, you’re probably curious about what the election might mean for the housing market – and if it’s still a good time to make your move. Here’s the good news that may surprise you: typically, Presidential elections have only had a small, temporary impact on the housing market. But your questions are definitely worth answering, so you don’t have to pause your plans in the meantime. Here’s a look at decades of data that shows exactly what’s happened to home sales, prices, and mortgage rates in previous Presidential election cycles, so you can move forward with the facts as you weigh the pros and cons of your homeownership decision. Home Sales In the month leading up to a Presidential election, from October to November, there’s typically a slight slowdown in home sales (see graph below): Some consumers will simply wait it out before they make their purchase decision. However, it’s important to know this slowdown is small and temporary. Historically, home sales bounce right back and continue to rise the following year. In fact, data from the Department of Housing and Urban Development (HUD) and the National Association of Realtors (NAR) shows after 9 of the last 11 Presidential elections, home sales went up the year after the election, and it’s been happening consistently since the early 1990s (see chart below): Home Prices You may also be wondering about home prices. Do prices come down during election years? Not typically. As residential appraiser and housing analyst Ryan Lundquist notes: “An election year doesn’t alter the price trend that is already happening in the market.” Home prices generally rise over time, regardless of an election cycle. So, based on what history shows, you can expect the current pricing trend in your local market to likely continue, barring any unusual market or economic circumstances. The latest data from NAR reveals that after 7 of the last 8 Presidential elections, home prices increased the following year (see chart below): The one outlier was from 2008 to 2009, which was during the height of the housing market crash. That was certainly not a typical year. Today’s market, however, is much more resilient. And while prices are moderating nationally, they aren’t on an overall decline. Mortgage Rates And the third thing that’s likely on your mind is mortgage rates, since they impact your monthly payment if you’re financing a home. Looking at the last 11 Presidential election years, data from Freddie Mac shows mortgage rates decreased from July to November in 8 of them (see chart below): And this year, we’ve already started to see that happen. Most experts also forecast mortgage rates will ease slightly throughout the rest of 2024. If that happens – and all signs right now indicate it should – this year will continue to follow the trend of declining rates. So, if you’re looking to buy a home in the coming months, this could be great news for your purchasing power. What This Means for You What’s the big takeaway? While Presidential elections do have some impact on the housing market, the effects are usually minimal. As Lisa Sturtevant, Chief Economist at Bright MLS, says: “Historically, the housing market doesn’t tend to look very different in presidential election years compared to other years.” For most buyers and sellers, elections don’t have a major impact on their plans. Bottom Line While it’s natural to feel a bit uncertain during an election year, history shows the housing market remains strong and resilient. And this means you don’t have to pause your plans in the meantime. For help navigating the market during this election cycle, reach out to a local real estate agent. 

You won’t find anyone who’s going to argue that mortgage rates have had a big impact on housing affordability over the past couple of years. But there is hope on the horizon. Rates have actually started to come down. And, recently they hit the lowest point we’ve seen in 2024, according to Freddie Mac (see graph below): And if you’re thinking about buying a home, that may leave you wondering: how much lower are they going to go? Here’s some information that can help you know what to expect. Expert Projections for Mortgage Rates Experts say the overall downward trend should continue as long as inflation and the economy keeps cooling. But as new reports come out on those key indicators, there’s going to be some volatility here and there. What you need to remember is it’s not wise to let those blips distract you from the larger trend. Rates are still down roughly a full percentage point from the recent peak compared to May. And the general consensus is that rates in the low 6s are possible in the months ahead, it just depends on what happens with the economy and what the Federal Reserve decides to do moving forward. Most experts are already starting to revise their 2024 mortgage rate forecasts to be more optimistic that lower rates are ahead. For example, Realtor.com says: “Mortgage rates have been revised slightly lower as signals from the economy suggest that it will be appropriate for the Fed to begin to cut its Federal Funds rate in 2024. Our yearly mortgage rate average forecast is down to 6.7%, and we revised our year-end forecast to 6.3% from 6.5%.” Know Your Number for Mortgage Rates So, what does this mean for you and your plans to move? If you’ve been holding out and waiting for rates to come down, know that it’s already happening. You just have to decide, based on the expert projections and your own budget, when you’ll be willing to jump back in. As Sam Khater, Chief Economist at Freddie Mac, says: “The decline in mortgage rates does increase prospective homebuyers’ purchasing power and should begin to pique their interest in making a move.” As a next step, ask yourself this: what number do I want to see rates hit before I’m ready to move? Maybe it’s 6.25%. Maybe it’s 6.0%. Or maybe it’s once they hit 5.99%. The exact percentage where you feel comfortable kicking off your search again is personal. Once you have that number in mind, you don’t need to follow rates yourself and wait for it to become a reality. Instead, connect with a local real estate professional. They’ll help you stay up to date on what’s happening and have a conversation about when to make your move. And once rates hit your target, they’ll be the first to let you know. Bottom Line If you’ve put your moving plans on hold because of higher mortgage rates, think about the number you want to see rates hit that would make you re-enter the market. Once you have that number in mind, connect with a real estate professional so you have someone on your side to let you know when we get there.

Have you ever heard the phrase: don’t believe everything you hear? That’s especially true if you’re thinking about buying or selling a home in today’s housing market. There’s a lot of misinformationout there. And right now, making sure you have someone you can go to for trustworthy information is extra important. If you partner with a real estate agent, they can clear up some common misconceptions and reassure you by backing them up with research-driven facts. Here are just a few misconceptions they can help disprove. 1. I’ll Get a Better Deal Once Prices Crash If you’ve heard home prices are going to come crashing down, it’s time to look at what’s actually happening. While prices vary by local market, there’s a lot of data out there from numerous sources that shows a crash is not going to happen. Back in 2008, there was a dramatic oversupply of homes that led to prices crashing. Across the board, there’s an undersupply of homes for sale today. That makes this market a whole different scenario (see chart below): So, if you think waiting will score you a deal, know that data shows there’s not a crash on the horizon, and waiting isn’t going to pay off the way you’d hoped. 2. I Won’t Be Able To Find Anything To Buy If this nagging fear about finding the right home if you move is still holding you back, you probably haven’t talked with an expert real estate agent lately. Throughout the year, the supply of homes for sale has grown. Data from Realtor.com helps put this into context. While there are still fewer homes on the market than in a more normal year like 2019, inventory is still above where it was at this time last year (see graph below): So, if you’re remembering all that media coverage about record-low supply during the pandemic, you can rest a bit easier. While the market isn’t back to normal just yet, inventory is moving in a healthier direction. And that means as your options improve, you can let go of this now outdated myth because finding a home to buy won’t feel quite so impossible anymore. 3. I Have To Wait Until I Have Enough for a 20% Down Payment Many people still believe you need a 20% down payment to buy a home. To show just how widespread this myth is, Fannie Mae says: “Approximately 90% of consumers overstate or don’t know the minimum required down payment for a typical mortgage.” And if you look at the data from the National Association of Realtors (NAR), you can see the typical homeowner isn’t putting down as much as you might expect (see graph below): First-time homebuyers are typically only putting down 6%. That’s far less than the 20% so many people think they need. And if you’re looking at that graph and you’re more focused on how the number for repeat buyers is closer to 20%, here’s what you need to realize. That’s only because they have so much equity built up in their current house that can be used to make a larger down payment for their next move. This goes to show you don’t have to put 20% down, unless it’s specified by your loan type or lender. Many people put down a lot less. Not to mention, depending on the type of home loan you get, you may only need to put 3.5% or even 0% down. So, if you’re buying your first home, you likely don’t need nearly as much for your down payment as you may think. An Agent’s Role in Fighting Misconceptions If you put your move on pause because you heard one or more of these myths yourself, it’s time to talk to a trusted agent. An expert agent has more data and the facts, just like this, to reassure you and help break through any misconceptions that may be holding you back. Bottom Line If you have questions about what you’re hearing or reading, connect with a real estate agent. You deserve to have someone you can trust to get the facts.

Selecting the right real estate agent can make a world of difference when buying or selling a home. But how do you find the best one? Here are some tips to help you make that big decision as you determine your partner in the process. Check Their Reputation Start by gathering information about agents in your area. From there, try to narrow down the list. Ask the people you trust if they have someone they’d recommend. You’ll want to find an agent with a strong online presence, plenty of positive reviews, and someone whose great reputation truly precedes them. As Freddie Mac explains: “. . . you may want to look for a real estate agent who specializes in the type of home you’re searching for. For example, if you are looking for an energy-efficient home, look for an agent who has experience with finding and negotiating offers for those homes. If you are looking for new construction, you’ll want to find an agent who has experience with new construction and isn’t affiliated with the builder . . .” Look for Local Market Expertise A great agent should have in-depth knowledge of what’s happening at the national and local level. That way they can clear up any misconceptions sparked by what you’re reading or hearing in the news. And they can tell you how your area compares to the national data. As an added perk, they’ll also be familiar with the neighborhoods you’re interested in and community amenities. As a recent article from Business Insider says: “Spend some time talking with prospective agents about the local real estate market and how it could impact your purchase or sale. You want to get an understanding of how knowledgeable they are about local market conditions. Whether they’re helping you sell or buy, their strategy for you should account for those conditions.” Get a Feel for Their Communication Style and Availability Effective communication is key in real estate transactions. Choose an agent who listens to your needs, answers your questions quickly, and keeps you informed throughout the process. If an agent is juggling too many clients, they might not be able to give you the attention you deserve. You want someone who will be readily available and responsive. So, what’s the best way to get a feel for their communication style and preferences? Bankrate offers this advice: “Interviews also give you a chance to find out the agent’s preferred method of communication and their availability. For example, if you’re most comfortable texting and expect to visit homes after work hours during the week, you’ll want an agent who’s happy to do the same.” Trust Your Gut Last, rely on your instincts. If you feel like you do or don’t click with one of the agents you’re talking to, that matters. Choose an agent you feel at ease with and who inspires confidence. The right agent should be someone you trust to guide you through one of the most significant transactions of your life. As Business Insider says: “As long as you’ve properly vetted the agents you’re considering and ensured they have the necessary expertise, it’s ok to go with your gut . . . Maybe you have a better rapport with one of the agents you’re considering, or you just feel like they’re easier to approach. You’re going to be working closely with this person, so it’s important to choose an agent you’re comfortable with.” Bottom Line By following these tips, you can pick an agent who’ll provide the support and expertise you need to help make the process as smooth as possible. Connect with local agents to see if they’d be a good fit for working together.