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For Buyers

Remote Work Is Here To Stay. Can Your Home Deliver the Space You Need?

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A lot has changed over the past year. For many people, the rise in remote work influenced what they’re looking for in a home and created a greater appetite for a dedicated home office. Some professionals took advantage of the situation and purchased a bigger home. Other people thought working from home would be temporary, so they chose to get creative and make the space they already had work for them. But recent headlines indicate working from home isn’t a passing fad.

If you’re still longing for a dedicated home office, now may be the time to find the home that addresses your evolving needs. More and more companies are delaying their plans to return to the office – others are deciding to remain fully remote permanently. According to economists from Goldman Sachs in a recent article from CNN:

“Job ads increasingly offer remote work and surveys indicate that both workers and employers expect work from home to remain much more common than before the pandemic.”

Other experts agree. A survey conducted by Upwork of 1,000 hiring managers found that due to the pandemic, companies were planning more remote work now and in the years to come. Upwork elaborates:

“The number of remote workers in the next five years is expected to be nearly double what it was before COVID-19: By 2025, 36.2 million Americans will be remote, an increase of 16.8 million people from pre-pandemic rates.”

The charts below break down their findings and compare pre- and post-pandemic percentages.Remote Work Is Here To Stay. Can Your Home Deliver the Space You Need? | Simplifying The Market

How Does This Impact Homeowners?

If you own your home, it’s important to realize that continued remote work may give you opportunities you didn’t realize you had. Since you don’t need to be tied to a specific area for your job, you have more flexibility when it comes to where you can live.

If you’re one of the nearly 23% of workers who will remain 100% remote: 

You have the option to move to a lower cost-of-living area or to the location of your dreams. If you search for a home in a more affordable area, you’ll be able to get more home for your money, freeing up more options for your dedicated office space and additional breathing room.

You could also move to a location where you’ve always wanted to live – somewhere near the beach, the mountains, or simply a market that features the kind of weather and community amenities you’re looking for. Without your job tying you to a specific location, you’re bound to find your ideal spot.

If you’re one of the almost 15% of individuals who will have a partially remote or hybrid schedule:

Relocating within your local area to a home that’s further away from your office could be a great choice. Since you won’t be going in to work every day, a slightly longer commute from a more suburban or rural neighborhood may be a worthy trade-off for a home with more features, space, or comforts.

Bottom Line

If ongoing remote work is changing what you need in a home, let’s connect to find one that delivers on your new wish list.

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For Buyers

You Finally Have More Options for Your Move

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a screenshot of a graph

Some Highlights

  • If you put your home search on hold because you couldn’t find anything you liked in your budget, it’s time to try again. ​
  • There’s a much wider selection of homes for sale, with more fresh listings hitting the market each month.
  • With more options come more possibilities. Connect with an agent if you want to see what’s available in your area.​

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Buying Tips

Should I Buy a Home Now or Wait?

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At some point, you’ve probably heard the saying: “Yesterday was the best time to buy a home, but the next best time is today.”

That’s because homeownership is about the long game – and home prices typically rise over time. So, while you may be holding out for prices to fall or rates to improve, you should know that trying to time the market rarely works.

Here’s what most buyers don’t always think about: the longer you wait, the more buying could cost you. And you deserve to understand why.

Forecasts Say Prices Will Keep Climbing

Each quarter, over 100 housing market experts weigh in for the Home Price Expectations Survey from Fannie Mae, and they consistently agree on one thing: nationally, home prices are expected to rise through at least 2029.

Yes, the sharp price increases are behind us, but experts project a steady, healthy, and sustainable increase of 3-4% per year going forward. And while this will vary by local market from year to year, the good news is, this is a much more normal pace – a welcome sign for the housing market and hopeful buyers (see graph below):

a graph of green bars

And even in markets experiencing more modest price growth or slight short-term declines, the long game of homeownership wins over time.

So, here’s what to keep in mind:

  • Next year’s home prices will be higher than this year’s. The longer you wait, the more the purchase price will go up.
  • Waiting for the perfect mortgage rate or a price drop may backfire. Even if rates dip slightly, projected home price growth could still make waiting more expensive overall.
  • Buying now means building equity sooner. When you play the long game of homeownership, your equity rewards you over time.

What You’ll Miss Out On

Let’s put real numbers into this equation, because it adds up quickly. Based on those expert projections, if you bought a typical $400,000 home in 2025, it could gain nearly $80,000 in value by 2030 (see graph below):

a graph of growth in a chartThat’s a serious boost to your future wealth – and why your friends and family who already bought a home are so glad they did. Time in the market matters.

So, the question isn’t: should I wait? It’s really: can I afford to buy now? Because if you can stretch a little or you’re willing to buy something a bit smaller just to get your foot in the door, this is why it’ll be worth it.

Yes, today’s housing market has challenges, but there are ways to make it work, like exploring different neighborhoods, asking your lender about alternative financing, or tapping into down payment assistance programs.

The key is making a move when it makes sense for you, rather than waiting for a perfect scenario that may never arrive.

Bottom Line

Time in the Market Beats Timing the Market.

If you’re debating whether to buy now or wait, remember this: real estate rewards those who get in the market, not those who try to time it perfectly.

Want to take a look at what’s happening with prices in your local area? Whether you’re ready to buy now or just exploring your options, having a plan in place can set you up for long-term success.

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Buying Tips

What You Can Do When Mortgage Rates Are a Moving Target

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Have you seen where mortgage rates have been lately? One day they go down a little. The next day, they go back up again. It can feel confusing and even frustrating if you’re trying to decide whether now’s a good time to buy a home.

Take a look at the graph below. It uses data from Mortgage News Daily to show that after a relatively stable month of March, mortgage rates have been on a bit of a roller coaster ride in April:

This kind of up-and-down volatility is expected when economic changes are happening.

And that’s one of the reasons why trying to time the market isn’t your best move. You can’t control what happens with mortgage rates. But you’re not powerless. Even with all the economic uncertainty right now, there are things you can do.

You can control your credit score, loan type, and loan term. That way, you can get the best rate possible in today’s market.

Your Credit Score

Your credit score can really affect the mortgage rate you qualify for. Even a small change in your score can make a big difference in your monthly payment. Like Bankrate says:

“Your credit score is one of the most important factors lenders consider when you apply for a mortgage. Not just to qualify for the loan itself, but for the conditions: Typically, the higher your score, the lower the interest rates and better terms you’ll qualify for.”

Keeping your credit score up is key when it comes to qualifying for a home loan. If you’re not sure where your score stands or how to improve it, talk to a loan officer you trust.

Your Loan Type

There are also different types of loans out there, and each one comes with unique requirements for qualified buyers. The Consumer Financial Protection Bureau (CFPB) explains:

“There are several broad categories of mortgage loans, such as conventional, FHA, USDA, and VA loans. Lenders decide which products to offer, and loan types have different eligibility requirements. Rates can be significantly different depending on what loan type you choose. Talking to multiple lenders can help you better understand all of the options available to you.

Always work with a mortgage professional to figure out which loan makes the most sense for you and your financial situation.

Your Loan Term

Just like there are different loan types, there are also different loan terms. Freddie Mac puts it like this:

“When choosing the right home loan for you, it’s important to consider the loan term, which is the length of time it will take you to repay your loan before you fully own your home. Your loan term will affect your interest rate, monthly payment, and the total amount of interest you will pay over the life of the loan.

Most lenders typically offer 15, 20, or 30-year conventional loans. Be sure to ask your loan officer what’s best for you.

Bottom Line

You can’t control what’s happening with the economy or mortgage rates, but you can take steps that’ll help you get the best rate possible.

Connect with a local real estate agent and a lender to talk about what you can do today to put yourself in a strong spot for when you’re ready to buy a home.

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The information contained, and the opinions expressed, in these article are not intended to be construed as investment advice. Let's Talk Real Estate, Mark Sincavage, Landshark Mark, LLC and Keeping Current Matters, Inc. do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Let's Talk Real Estate, Mark Sincavage and Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.