Whether you’re buying or selling a house, here’s something to think about that most people don’t. Your decision doesn’t just impact your life and your family’s, it sparks a ripple effect that has a positive impact on your entire community.

Every year, the National Association of Realtors (NAR) puts out a report that breaks down the financial impact that comes from people buying and selling homes.

The data shows that if you buy an existing (previously lived-in) home, you're giving the local economy a boost of just over $60K. And if you buy a newly built home, that number goes up to over $125K (see visual below):

That’s because of all the people needed to build, fix up, and sell homes. Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB), explains how the housing industry adds jobs to a community:

“. . . housing is a significant job creator. In fact, for every single-family home built, enough economic activity is generated to sustain three full-time jobs for a year . . .”

When you think about it, it makes sense. Behind every home sale is a network of people involved, including contractors, city officials, real estate agents, lawyers, specialists, and more. Everyone has a job to do to help make sure your deal goes through.

Put simply, when you buy or sell a home, you’re helping out your neighbors. So, your decision to move doesn’t just meet your needs; it supports their families, strengthens your town, and shapes the future of your community.

Imagine walking through the front door of your next home, knowing your decision helped a local contractor keep their crew working or a small business thrive. Remember that feeling as you make your decision this year.

Bottom Line

Moving isn’t just a personal milestone – it's an investment in your community, too. If you’re ready to make a move, connect with a local real estate agent. You’ll make a difference for more people than you know.

What’s most important to you as you prepare to buy or sell your house this year?

If you took your house off the market in late 2024, you’re not the only one. Newsweek reports that data from CoreLogic and the Wall Street Journal (WSJ) says nearly 73,000 homes were pulled from the market in December alone – that's more than any other December going all the way back to 2017 (see graph below):

Whether it was because offers weren’t coming in, the timing around the holidays felt overwhelming, or they wanted to see if the market would improve in the new year – a lot of other homeowners decided to press pause, too.

But now, with spring fast approaching, it’s time to reassess. The market is already picking up, and waiting any longer to jump back in may only mean you’d face more competition from other sellers down the road.

Why Now Could Be the Right Time 

Selma Hepp, Chief Economist at CoreLogic, explains that some of those sellers may have pulled their listings late last year with the goal of trying again this spring: 

“Another reason for a step back could be that sellers wanted to wait and see how spring home buying season goes, and if mortgage rates fall, which would bring more home buyers and competition back in the market.”

That’s because spring is when buyer demand is typically at its highest point for the year. More people start their home search once the weather warms up. They’re eager to close on a home so they can move in during the summer. So, it’s a great window for sellers. It means more buyers.

And while mortgage rates haven’t fallen dramatically, they have come down some in recent weeks. Early signs already show buyers are becoming more active as a result. Since January, demand has picked up – and that should continue as spring draws even closer.

What To Do Differently This Time

Start by checking the status of your listing agreement. Because even if you pulled your listing, you may still be under contract. And until your listing expires, your agent or brokerage is your best resource on what else you could try to get it sold. Realtor.com offers this advice:

“If you aren't sure of the status of your listing, whether active, expired, or withdrawn, take a look at your listing agreement and talk to your real estate agent.”

If your contract is still active, now’s the perfect time to reconnect with your agent to explore strategies to get your home sold this time around. If your contract has expired and you’re considering other options, reach out to a trusted real estate professional who can help you figure out where to go from here.

Either way, take some time to reflect on your last experience. What held you back from getting it sold before? And what can you do to improve your chances this time around? 

Be sure to include your agent in this thought process. They’ll give you an objective point of view and some advice based on what may have gone wrong last time, like: 

• Your Pricing Strategy: Did buyers overlook your house because it was priced too high? Your real estate agent can help you analyze the latest sales in your area to make sure you’re hitting the right number. Believe it or not, you could actually be leaving money on the table by not pricing competitively. When it’s priced appropriately for the market, your opportunities for multiple offers and buyer competition increase.
• Your Marketing Approach: Was your home staged to look its best? Did you use a skilled photographer for your listing photos? Small tweaks can make a big difference in how buyers see your house. Something as simple as taking new photos now that it’s spring can help your house show better than it did in the winter listing.
• Offering Concessions: Were you willing to offer incentives to buyers? As the supply of homes for sale grows, more sellers are entertaining the idea of concessions or incentives to get the deal done. If you weren’t open to those conversations, that may have been a factor, too.
• Showings and Flexibility: Did you have limits on when buyers could see the home? If your house is accessible and available, you’ll likely get more offers.  

Bottom Line

If your house didn’t sell last year, spring may be your second chance. With buyer activity rising, it’s the perfect time to talk to an agent about coming back into the market with a fresh strategy. 

What do you want to do differently this time around? Talk to your agent to go over your options and make a plan.

There’s one essential step in the homebuying process you may not know a whole lot about, and that’s preapproval. Here’s a rundown on what it is and why it’s so important to take care of before you start looking at homes with your REMAX^® agent.

What Is Preapproval? 

Preapproval is like getting the green light from a lender. It gives you a sense of how much they’re willing to let you borrow for your home loan. To determine that number, a lender starts by looking at your financial history. Here are some of the documents they may ask you for during this process:

• W-2s and tax returns
• Pay stubs and bank statements
• Investment account statements (if applicable)
• History of where you’ve lived

The result? They’ll assess your financial situation, and you’ll get a preapproval letter showing what you can borrow. Keep in mind, any changes to your finances can affect your preapproval status. So, after you receive your letter, avoid switching jobs, applying for new credit cards or other loans, co-signing for loans or taking money from your savings.

How It Helps You Determine Your Borrowing Power

This year, home prices are expected to rise moderately in most markets, and mortgage rates are stabilizing, but still volatile. And since affordability continues to be tight, it’s a good idea to talk to a lender about your home loan options and how today’s changing mortgage rates will impact your monthly payment.

The preapproval process is the perfect time for that discussion. Since it determines the maximum amount you can borrow, preapproval also helps you figure out your budget. And keep in mind, you may get approved for more than you feel comfortable borrowing, so use this time to decide what you can afford in your monthly mortgage payment as you factor in taxes, insurance and other costs you will incur as a homeowner. Once you know what works for you financially, partner with your REMAX agent to tailor your search to homes that match your budget. That way, you don’t fall in love with a house that’s realistically outside of your comfort zone.

How It Helps You Stand Out

Once you find a home you want to put an offer on, preapproval has another big perk. It not only makes your offer stronger, it shows sellers you’ve already undergone a credit and financial check. So, when a seller sees you’re preapproved, they view you as a much more serious buyer and may be more attracted to your offer because it is more likely to go through. And for a seller who is ready to close a deal, an offer that’s backed by preapproval makes a big difference.

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.”

Bottom Line

If you’re planning on buying a home, getting preapproved for a mortgage should be one of the first things on your to-do list. Not only will it give you a better understanding of your borrowing power, it’ll put you in the best position possible to make a strong offer when you find a home you love.

Do you know what else you need to do to make sure you’re ready to buy? Reach out, and I’ll make sure you don’t skip any of the key homebuying steps.

After several years of rising home prices and volatile mortgage rates, it looks like the housing market will start to head in a more normal direction in 2025 – at least according to the latest forecasts. And if you’ve been thinking about making a move, that means the uncertainty that could’ve been throwing off your plans may be coming to a close.

 Here’s a look at the latest expert forecasts on two of the biggest factors expected to shape the market in the year ahead.

 Will Mortgage Rates Come Down?

 Everyone’s keeping an eye on mortgage rates, and they’re projected to settle in the mid-6% range by the end of the year (see chart below):

But remember, rate projections will continue to shift as new information becomes available. Expert forecasts are based on what they know right now. If there’s increasing uncertainty around inflation, employment, government policies, or other key economic drivers, mortgage rates will move. So, don’t get caught up in the exact numbers or try to time the market. Instead, focus on the fact that a bit more stability in rates isn’t a bad thing – and even a small change can help your bottom line. 

A trusted lender and your RE/MAX^® agent will make sure you always have the latest data and the context to understand what it really means for you and your monthly payment. 

Will Home Prices Fall? 

The short answer? Not likely. Home prices are projected to keep rising in most areas – just at a slower, more normal pace. If you average the expert forecasts together, you’ll see prices are expected to go up by about 2.7%, with the majority of the projections hitting somewhere in the 3 to 4% range by the end of the year. And that’s a much more typical and sustainable rise (see graph below):

So, don’t expect a sudden drop that’ll score you a big deal if you’re thinking of buying this year. While that may sound disappointing if you’re hoping prices will come down, refocus on this. It means you won’t have to deal with the steep increases the market felt in recent years, and you’ll also likely see any home you do buy go up in value after you get the keys in hand. And that’s a good thing.

Prices normalizing is a welcome sign after years of unsustainable home price growth. It means we’re moving into a healthier market. And that’s something we haven’t been able to say in a while.

And if you’re wondering how it’s even possible prices are still rising, here’s your answer. It all comes down to supply and demand. Even though there are more homes for sale now than there were just a year ago, there still aren’t enough houses on the market to keep up with all the buyers out there.

Keep in mind, though, the housing market is hyper-local. So, this will vary by area. Some markets will see even higher price appreciation. And some may see prices level off or even dip slightly. In most markets though, prices will continue to rise (as they usually do).

If you want to find out what’s happening where we live, you need to lean on your local RE/MAX^® agent who can explain the latest trends and what they mean for your plans.

Bottom Line

The housing market is shifting, and the experts say 2025 will move toward a more normal, healthier pace for the year. With rates stabilizing and home prices rising at a more typical and sustainable rate, it’s all about staying informed and making a plan that works for you.

What mortgage rate are you waiting for to make your move? Tell me your number, and I’ll show you how the math works out for your monthly mortgage payment. It may be more attainable this spring than you think.

Buying your first home is exciting, but let’s be real – it can also feel overwhelming. It’s a big step, and with that comes plenty of questions. Am I making the right decision? Can I really afford this right now? Will I be able to make ends meet if I have unexpected repairs? What if I lose my job?

Here’s the thing: every first-time homebuyer has these thoughts.

The homebuying process has always been a mix of excitement and nerves, and that’s completely normal. Here's some information that can give you a bit of perspective, so you don’t have these concerns.

Focus on What You Can Control

Since homeownership is new to you, you’re probably feeling like it’s hard to know what to budget for. And that can be a bit scary. You’ll have the mortgage, home insurance, and maintenance to think about – maybe even lawn care or homeowner’s association (HOA) fees. It’s easy to let the dollar signs be overwhelming. As Zillow says:

“Buying a house is a big decision, and you might feel confused and indecisive as you assess your current financial situation and try to work through whether or not the timing is right. Making big life choices might come with some self-doubt, but crunching the numbers and thinking about what you want your life to look like will help guide you down the right path.”

The important thing is to focus on what you can control. By partnering with a local agent and a trusted lender, you can get a clear understanding of what you can borrow for your home loan, what your monthly payment would be, and how your mortgage rate can impact it. And since that payment will likely be your biggest recurring expense, the key is to make sure the number works for you.

Don’t Stress About Repairs

The maintenance and repairs? Those can be a little bit harder to anticipate. But don’t forget you’ll get an inspection during the homebuying process to give you a better look at the condition of your future house. And with your inspection report in hand, you’ll have a good idea of what needs work. This way, you can start saving up so that you’re ready if and when something breaks.

But even then, if this is something that’s still really nagging at you, talk to your agent about asking the seller to throw in a home warranty. Those can cover repairs for some of the bigger systems in the house, like the HVAC, if they break within a specific time frame. While this isn’t a huge expense for the seller, the likelihood of a seller agreeing to one depends on what’s happening in your local market and how competitive it is right now.

It’s Okay To Stretch – Just Not Too Far

And remember, chances are that money will be a little tight – at least at first. And that’s kind of to be expected. A lot of times when someone buys their first home, they cut down on things like shopping and eating out for a while until they get a better idea of how their expenses will shake out in the new home.

But if you’re crunching the numbers and you won't have enough money left for things like gas, food, etc. – it's a sign you’d be stretching yourself too far. The last thing you want is to take on a payment that’s too much to handle. But stretching a little? That’s different. That’s normal.

Your Job Will Probably Change – And That’s Okay

And don’t forget, you’ll likely earn more down the road, so that slight stretch now won’t seem so bad as time wears on. As you advance in your career, you’ll probably start to make more money too. So, as your paycheck grows, the payments will get easier. Renting is a short-term option – and it’s one you deserve to get out of. Buying a home is a long-term play.

And just in case you’re worried about what happens if you do lose your job, you should know there are options, like forbearance, designed to help you temporarily pause payments on your home loan due to hardship.

Bottom Line

Buying your first home is a big decision, and it’s okay to feel a little nervous about it. But if you’re financially ready, don’t let fear keep you from moving forward. These emotions are normal, and great agents help their buyers get through them.

What makes you nervous when you think about buying your first home?

Connect with an agent so you have an expert on your side to explain everything along the way.