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US Real Estate News for Global Investors | 12-25-2023

Posted By Yoshi Takita on December 27, 2023 in Global Real Estate

There’s no denying the long-term financial benefits of owning a home, but today’s housing market may have you wondering if now’s still the time to buy.

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US Real Estate News for Global Investors　12-21-2023

Posted By Yoshi Takita on December 27, 2023 in Global Real Estate

If you're thinking about selling your house on your own, called “For Sale by Owner” or FSBO, there are some important things to consider. Going this route means taking on a lot of responsibilities by yourself – and that can be a bit of a headache.

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US Real Estate News for Global Investors　12-22-2023

Posted By Yoshi Takita on December 27, 2023 in National Association of Realtors (NAR)

Get Your House Ready To Sell This Winter [INFOGRAPHIC] Some Highlights As you get ready to sell your house, there are a few things you should add to your to-do list to make it inviting and boost curb appeal. To name just a couple, it’s a good idea to declutter, take down personal photos and items, touch up any scuffs on the walls, and tidy up your landscaping. Connect with a trusted real estate professional for advice on what else you may want to do to get your house ready to sell this season.

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US Real Estate News for Global Investors　12-19-2023

Posted By Yoshi Takita on December 20, 2023 in Global Real Estate

The Surprising Trend in the Number of Homes Coming onto the Market If you're thinking about moving, it's important to know what's happening in the housing market. Here's an update on the supply of homes currently for sale. Whether you're buying or selling, the number of homes in your area is something you should pay attention to. In the housing market, there are regular patterns that happen every year, called seasonality. Spring is the peak homebuying season and also when the most homes are typically listed for sale (homes coming onto the market are known in the industry as new listings). In the second half of each year, the number of new listings typically decreases as the pace of sales slows down. The graph below uses data from Realtor.com to provide a visual of this seasonality. It shows how this year (the black line) is breaking from the norm (see graph below): Looking at this graph, three things become clear: 2017-2019 (the blue and gray lines) follow the same general pattern. These years were v

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US Real Estate News for Global Investors　12-18-2023

Posted By Yoshi Takita on December 19, 2023 in Global Real Estate

The Surprising Trend in the Number of Homes Coming onto the Market If you're thinking about moving, it's important to know what's happening in the housing market. Here's an update on the supply of homes currently for sale. Whether you're buying or selling, the number of homes in your area is something you should pay attention to. In the housing market, there are regular patterns that happen every year, called seasonality. Spring is the peak homebuying season and also when the most homes are typically listed for sale (homes coming onto the market are known in the industry as new listings). In the second half of each year, the number of new listings typically decreases as the pace of sales slows down. The graph below uses data from Realtor.com to provide a visual of this seasonality. It shows how this year (the black line) is breaking from the norm (see graph below): Looking at this graph, three things become clear: 2017-2019 (the blue and gray lines) follow the same general pattern. These years were v

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US Real Estate News for Global Investors　12-13-2023

Posted By Yoshi Takita on December 13, 2023 in Global Real Estate

The Surprising Trend in the Number of Homes Coming onto the Market If you're thinking about moving, it's important to know what's happening in the housing market. Here's an update on the supply of homes currently for sale. Whether you're buying or selling, the number of homes in your area is something you should pay attention to. In the housing market, there are regular patterns that happen every year, called seasonality. Spring is the peak homebuying season and also when the most homes are typically listed for sale (homes coming onto the market are known in the industry as new listings). In the second half of each year, the number of new listings typically decreases as the pace of sales slows down. The graph below uses data from Realtor.com to provide a visual of this seasonality. It shows how this year (the black line) is breaking from the norm (see graph below): Looking at this graph, three things become clear: 2017-2019 (the blue and gray lines) follow the same general pattern. These years were very typical in the housing market and their lines on the graph show normal, seasonal trends. Starting in 2020, the data broke from the normal trend. The big drop down in 2020 (the orange line) signals when the pandemic hit and many sellers paused their plans to move. 2021 (the green line) and 2022 (the red line) follow the normal trend a bit more, but still are abnormal in their own ways. This year (the black line) is truly unique. The steep drop off in new listings that usually occurs this time of year hasn’t happened. If 2023 followed the norm, the line representing this year would look more like the dotted black line. Instead, what’s happening is the number of new listings is stabilizing. And, there are even more new listings coming to the market this year compared to the same time last year. What Does This Mean for You? For buyers, new listings stabilizing is a positive sign. It means you have a more steady stream of options coming onto the market and more choices for your next home than you would have at the same time last year. This opens up possibilities and allows you to explore a variety of homes that suit your needs. For sellers, while new listings are breaking seasonal norms, inventory is still well below where it was before the pandemic. If you look again at the graph, you’ll see the black line for this year is still lower than normal, meaning inventory isn’t going up dramatically and prices aren’t heading for a crash. And with less competition from other sellers than you’d see in a more typical year, your house has a better chance to be in the spotlight and attract eager buyers. Bottom Line Whether you're on the hunt for your next home or thinking of selling, now might just be the perfect time to make your move. If you have questions or concerns about the availability of homes in our local area, let’s connect.

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US Real Estate News for Global Investors　12-12-2023

Posted By Yoshi Takita on December 12, 2023 in Global Real Estate

Down Payment Assistance Programs Can Help Pave the Way to Homeownership If you’re looking to buy a home, your down payment doesn’t have to be a big hurdle. According to the National Association of Realtors (NAR), 38% of first-time homebuyers find saving for a down payment the most challenging step. But the reality is, you probably don’t need to put down as much as you think: Data from NAR shows the median down payment hasn’t been over 20% since 2005. In fact, the median down payment for all homebuyers today is only 15%. And it’s even lower for first-time homebuyers at 8%. But just because that’s the median, it doesn’t mean you have to put that much down. Some qualified buyers put down even less. For example, there are loan types, like FHA loans, with down payments as low as 3.5%, as well as options like VA loans and USDA loans with no down payment requirements for qualified applicants. But let’s focus in on another valuable resource that may be able to help with your down payment: down payment assistance programs. First-Time and Repeat Buyers Are Often Eligible According to Down Payment Resource, there are thousands of programs available for homebuyers – and 75% of these are down payment assistance programs. And it’s not just first-time homebuyers that are eligible. That means no matter where you are in your homebuying journey, there could be an option available for you. As Down Payment Resource notes: “You don’t have to be a first-time buyer. Over 39% of all [homeownership] programs are for repeat homebuyers who have owned a home in the last 3 years.” The best place to start as you search for more information is with a trusted real estate professional. They’ll be able to share more information about what may be available, including additional programs for specific professions or communities. Additional Down Payment Resources That Can Help Here are a few down payment assistance programs that are helping many of today’s buyers achieve the dream of homeownership: Teacher Next Door is designed to help teachers, first responders, health providers, government employees, active-duty military personnel, and veterans reach their down payment goals. Fannie Mae provides down-payment assistance to eligible first-time homebuyers living in majority-Latino communities. Freddie Mac also has options designed specifically for homebuyers with modest credit scores and limited funds for a down payment. The 3By30 program lays out actionable strategies to add 3 million new Black homeowners by 2030. These programs offer valuable resources for potential buyers, making it easier for them to secure down payments and realize their dream of homeownership. For Native Americans, Down Payment Resource highlights 42 U.S. homebuyer assistance programs across 14 states that ease the path to homeownership by providing support with down payments and other associated costs. Even if you don’t qualify for these types of programs, there are many other federal, state, and local options available to look into. And a real estate professional can help you find the ones that meet your needs as you explore what’s available. Bottom Line Achieving the dream of having a home may be more within reach than you think, especially when you know where to find the right support. To learn more about your options, let’s connect.

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US Real Estate News for Global Investors　12-11-2023

Posted By Yoshi Takita on December 11, 2023 in Global Real Estate

The Perfect Home Could Be the One You Perfect After Buying There’s no denying mortgage rates and home prices are higher now than they were last year and that’s impacting what you can afford. At the same time, there are still fewer homes available for sale than the norm. These are two of the biggest hurdles buyers are facing today. But there are ways to overcome these things and still make your dream of homeownership a reality. As you set out to make a purchase this season, you’ll want to be strategic. This includes taking a close look at your wish list and considering what features you really need in your next home versus which ones are nice-to-have. This will help you avoid overextending your budget or limiting your pool of options too much because you’re searching for that perfect home. Danielle Hale, Chief Economist at Realtor.com, explains: “The key to making a good decision in this challenging housing market is to be laser focused on what you need now and in the years ahead, . . . Another key point

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US Real Estate News for Global Investors　12-8-2023

Posted By Yoshi Takita on December 11, 2023 in Global Real Estate

Your Homebuying Adventure [INFOGRAPHIC] Some Highlights Here are the key milestones you’ll encounter on your path to homeownership. From building your team, to house hunting, all the way to moving into your new home – it’s an exciting adventure. Your journey starts here. Let’s connect so you have expert guidance each step of the way.

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US Real Estate News for Global Investors　12-7-2023

Posted By Yoshi Takita on December 11, 2023 in National Association of Realtors (NAR)

Why You Should Use a Real Estate Agent When You Buy a Home If you’ve recently decided you’re ready to become a homeowner, chances are you’re trying to figure out what to do first. It can feel a bit overwhelming to know where to start, but the good news is you don’t have to navigate all of that alone. When it comes to buying a home, there are a lot of moving pieces. And that’s especially true in today’s housing market. The number of homes for sale is still low, and home prices and mortgage rates are still high. That combination can be tricky if you don’t have reliable expertise and a trusted advisor on your side. That’s why the best place to start is connecting with a local real estate agent. Agents Are the #1 Most Useful Source in the Buying Process The latest annual report from the National Association of Realtors (NAR) finds recent homebuyers agree the #1 most useful source of information they had in the home buying process was a real estate agent. Let’s break down why. How an Agent Helps When You Buy a Home When you think about a real estate agent, you may think of someone taking you on home showings and putting together the paperwork, but a great agent does so much more than that. It’s not just being the facilitator for your purchase, it’s being your guide through every step. The visual below shows some examples from that same NAR release of the many ways an agent adds value. It includes the percentage of homebuyers in that report who highlighted each of these benefits: Here’s a bit more context on how the survey results noted an agent continually helps buyers in these situations: Helped Buyer’s Understand the Process: Do you know the difference between an inspection and an appraisal, what each report tells you, and why they’re both important? Or that there are things you shouldn’t do after applying for a mortgage, like buying appliances or furniture? An agent knows all of these best practices and will share them with you along the way, so you don’t miss any key steps by the time you get to the closing table. Pointed Out Unnoticed Features or Faults with the Home: An agent also has a lot of experience evaluating homes. They’ve truly seen it all. They’ll be able to pinpoint some things you may not have noticed about the home that could help inform your decision or at least what repairs you ask for. Provided a Better List of Service Providers: In a real estate transaction, there are a lot of people involved. An agent has experience working with various professionals in your area, like home inspectors, and can help connect you with the pros you need for a successful experience. Negotiated Better Contract Terms and Price: Did something pop up in the home inspection or with the appraisal? An agent will help you re-negotiate as needed to get the best terms and price possible for you, so you feel confident with your big purchase. Improved Buyer’s Knowledge of the Search Area: Moving to a new town and you’re not familiar with the area, or you’re staying nearby, but don’t know which neighborhoods are most affordable? Either way, an agent knows the local area like the back of their hand and can help you find the perfect location for your needs. Expanded Buyer’s Search Area: And if you’re not finding anything you’re interested in within your initial search radius, an agent will know other neighborhoods nearby you should consider based on what you like, what amenities you want, and more. Bottom Line If you’re looking to buy a home, don’t forget about the many ways an agent is essential to that process. Any hurdle that pops up, a negotiation that needs to take place, and more, your agent will know how to handle it while they make sure to minimize your stress along the way. Let’s connect to tackle this together.

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