In today’s competitive housing market, a mortgage pre-approval is one of the best ways to establish yourself as a serious homebuyer. But what exactly is it, and why is it so crucial? This article breaks down the nuances of mortgage pre-approval and the steps required to obtain it. Understanding Mortgage Pre-Approval A mortgage pre-approval is…

The intricacies of buying a home include mortgages, down payments, interest rates, and closing costs, which can intimidate even the most financially astute individuals. However, with proper guidance and a well-researched approach, the path to homeownership can be less daunting. This article aims to shed light on crucial financing aspects, ensuring a smoother journey for…

A perpetual question lingers across the real estate industry: Should homebuyers invest in condominiums or single-family homes? Both housing options have distinct attributes, each appealing to different demographics based on lifestyle, financial status, and personal preferences. This article sheds light on this debate, comparing these two prominent housing choices. Core Definitions: Condos vs. Single-Family Homes…

While home inventory continues to be in short supply, there was an unusual increase in newly listed homes in August compared to July. The growth could be a sign of an increase in seller activity this fall.

August 2023 Highlights The number of homes actively for sale decreased by 7.9% compared to August 2022. The total number of unsold homes, including those under contract, decreased by 9.2% compared to last year. Home sellers were less active, with 7.5% fewer newly listed homes than last August. The median price of homes for sale…

In the ever-evolving real estate market, eco-friendly or green homes have become a focal point for modern homebuyers. These homes are distinguished by their sustainable features, environmentally friendly materials, and efficient energy use. Going beyond the traditional bricks and mortar, they encompass a philosophy that aligns the comfort of living with the environment’s well-being. The…

Across the world, one phenomenon remains consistent: the location of a property significantly determines its value. But among the various factors that contribute to location value, the quality and reputation of nearby schools have emerged as particularly influential. While amenities like shopping centers, parks, and public transport play a role, a top-ranked school near a…

The journey of selling a home is filled with challenges and opportunities. While most homeowners aspire to achieve the highest possible price within a short time, numerous pitfalls can derail this process. Understanding these common mistakes can arm sellers with the knowledge to sidestep them, ensuring a smoother selling journey. Below are the ten biggest…

A lack of newly listed homes contributed to an inventory crunch in the nation’s housing market, with fewer homes on the market compared to last year. There was a decline in the number of newly listed homes for sale, and the national median home list price dropped slightly to $440,000 in July.

July 2023 Highlights The median price of homes for sale decreased by -0.9% annually to $440,000 in July, the second month in a row that listing prices decreased on a year-over-year basis. Home sellers were less active in July, with 20.8% fewer new homes listed for sale than last July. The number of homes actively…