Wow - we’re halfway through 2024! As we look at the rest of the year, I’ve got a few tips on how to help your buyers navigate the current market conditions as they prepare to purchase.?? 

1. Paying Discount Points Can Help the Right Buyers 

With average interest rates hovering around 7%, combined with higher home prices, more buyers are choosing to pay a partial or full point to buy down their interest rate in exchange for a lower monthly payment.? 

It used to be that the general rule of thumb was for every discount point your buyer paid, their rate would decrease by .25%.? However, in the current market environment, we’re seeing that paying a full point can save from .25% - .50% in rate, or even paying a partial point can save .25% on the rate.?

2. Closing Costs Have Risen 

We discuss this often, but it bears repeating: the old 3% for closing cost in many markets no longer holds true. 

As mentioned above, buyers may pay. ...

WHAT YOU'LL LEARN


Why closing costs have gone up


Why discount points could be a good choice


How a closing cost worksheet can help





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For a long time, 3% of the loan amount in closing costs was the standard most clients could expect. But in the current market, we are finding that 4-5% is a safer estimate (although they could be higher or lower). There are many factors that go into closing costs – they aren’t due to any one party or item in the transaction.  

Why Closing Costs Are Higher 

First, the amount of the settlement costs rely greatly on the loan amount. Some costs are fixed, but most a ...

When it’s time to sell your home, selling it for the right price that coincides with the current local housing marketing is key. Selling can be difficult and daunting, but if you avoid common mistakes, it can help ensure the process is stress-free and easy. Here’s what you should avoid before you put your house on the market:
1. Not doing any researchSetting a price on a home without performing the necessary research before putting it on the market will make the process more time consuming and difficult. It’s always in the seller’s best interest to research not only the market but also prices of surrounding homes in your neighborhood. By doing so, it guarantees you can sell your home for what it’s worth without overpricing it. Researching will set you up for success and ensure you’re on the right track to successfully sell your home!
 
2. Setting the price too highThis is one of the biggest mistakes a seller can make, and it almost always ...

While you can’t control what happens outside your home, these are ways to assess the value of a home’s neighborhood – and whether it’s right for you:
AESTHETICS
Looks aren’t everything, but they do say a lot about a neighborhood. An attractive neighborhood shows people care about it. And that great curb appeal can be helpful down the road when selling your house. The next buyer will see a great-looking place and feel right at home.
AFFORDABILITY
Different than the actual price of the house, affordability reflects the standard of living in the city or neighborhood you’re considering. How much does it cost to truly live in the area? See how much groceries, transportation, child care, restaurants, movies and other entertainment cost. Then do the math to see if life here fits your budget.
SAFETY
Whether you’re living alone or have family, feeling safe in your neighborhood is an important factor. Tap into online tools (like these) to find ...

 
Good credit is an important tool for financial health. Protect yourself from things like fraud, identity theft or bad money habits that could bring it down.
If you’re reading this article, you probably know how important healthy credit is to your financial well-being. Good credit scores, generally in the range of over 700, make you more likely to be approved for loans, but also mean you’ll likely pay less to borrow money. The good news is there are clear steps you can take to improve your credit score , but once you’ve built solid credit it’s important to maintain it as well.
 
 So how do you do it? Here are 6 tips for maintaining a strong credit score:
 


STAY ON TOP OF YOUR BILLS.


The most important factor to determining your credit score is whether you consistently pay your bills on time. This doesn’t change once you’ve built up a good score. When a bill is more than 30 days past due, it will show up on ...