Buying/Selling a Home | Patterson-Schwartz Blog

Delaware Tops the Charts as the Best State to Retire

Delawareans have always known the charm and benefits of living in “The First State,” and now it’s official—Delaware has been recognized as the best state to retire in the U.S., according to Bankrate’s latest rankings. Rising from second place last year, this accolade is a testament to the state’s commitment to affordability, quality of life, and superb healthcare, making it an ideal destination for retirees.

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Bankrate’s comprehensive evaluation weighted affordability most heavily, a factor where Delaware shines due to its no sales tax policy and no income tax on Social Security benefits. Alex Gailey from Bankrate highlights, “While you might not think of Delaware as a typical retirement haven, it has many strong selling points for retirees,” as reported in a recent CBS News article by Megan Cerullo. Delaware’s focus on affordability is particularly significant given the economic landscape, offering much-needed relief to retirees.

Besides economic advantages, Delaware’s high-quality healthcare system and its rich cultural and demographic diversity are pivotal in enhancing its attractiveness as a retirement haven. Access to quality healthcare is a cornerstone for retirees, and Delaware excels in providing this.

Our Seniors Real Estate Specialists® Weigh In

Our agents with the Seniors Real Estate Specialist® (SRES®) designation, like Craig Schwartz and John Zacharias, play a crucial role in advising mature Americans on their real estate needs.

Craig shares, “The unique approach of SRES Designation encapsulates a broader view inclusive of concepts such as aging-in place and living in regional destinations. Delaware’s central location allows access to a variety of airports, cultural events, exhibits, museums, and culinary adventures. There is an enormous selection of specialized healthcare nearby too. Beyond Delaware’s 55+ communities or independent living, the state offers a lifestyle that can be carefree or adventurous as you want. In addition, Delaware offers great value with home prices, low property taxes, and no sales tax!”

John adds, “Buying a forever home is one of the biggest decisions one can make in their lifetime. I understand the stakes are high to make a sound investment and financial stability. I pride myself of leaving no stone left unturned and working with my clients to have a profound sense of satisfaction with their purchase.”

For retirees interested in exploring what Delaware has to offer, our website includes an active adult communities search that showcases homes specifically suited to the active adult lifestyle.

For those considering retirement, partner with an SRES® agent as your expert guide in navigating the real estate landscape tailored for your needs. Explore the possibilities of retirement living with confidence and let them help you find the perfect home that aligns with your lifestyle and aspirations. Your ideal retirement home in Delaware is just a conversation away.

As Delaware continues to garner recognition, we remain proud and excited for more people to discover the advantages of retiring in our beloved state. For more details on why Delaware claimed the top spot, check out the original ratings at Bankrate’s retirement guide.

About Us

Patterson-Schwartz Real Estate is Delaware’s largest independent real estate brokerage and offers a full range of services that include residential home sales, purchase and rental, relocation services, and property management. We’ve been guiding home buyers and sellers since 1961, and invite you to connect with us when you’re ready to partner with a local real estate expert.

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Unlocking the Luxury of Coastal Living: Meet Our Resort and Second Home Property Specialist Agents

In the world of coastal real estate, having the right specialist by your side can make all the difference. Enter our Resort and Second Home Specialist (RSPS) certified agents – the experts who not only understand the local nuances but also possess the skills to navigate the shifting sands of the coastal real estate market.

November is Designation Awareness Month

November, known as Designation Awareness Month, is the perfect time to highlight the exceptional expertise our agents bring to the table. And speaking of exceptional, did you know that Rehoboth Beach, Delaware, recently claimed the #4 spot on Vacasa’s list of the best places to buy a vacation home in 2023? This recognition underscores the allure of coastal living in this stunning destination!

The Resort and Second Home Property Specialist (RSPS) certification is for REALTORS® who specialize in buying, selling, or management of properties for investment, development, retirement, or second-homes in resort, recreational, and/or vacation destinations. Our RSPS agents are well-equipped to assist you in your quest for the perfect resort or second-home!

The Value of a RSPS Certification

John Zacharias, based in our Ocean View office, attests to the significance of the RSPS certification: “NAR®’s RSPS certification is pivotal in my business. The course provides extra skills I can use to serve my clients and give them a leg up in decision-making and risk analysis when purchasing in a luxury market. Predominately selling second-homes in a resort area, an agent needs to give their clients their best knowledge in buying and selling in a different market from where they are coming from.”

Kara Brasure, stationed in our Rehoboth Beach office, adds, “I have had my RSPS certificate for several years now. I am a life-long resident of southern Delaware. I grew up in Rehoboth and enjoy working in Rehoboth. NAR® gives us monthly newsletters and marketing materials for having the RSPS certification.”

Extensive local knowledge and a commitment to ongoing education make our RSPS agents stand out. Jamie Coleman, from our Rehoboth Beach office, underscores this: “As an agent who works and lives in the Delaware beach market, I specialize in buying and selling properties for investment, retirement, and second-homes. Obtaining my RSPS certification was a natural next step in my career. It not only showcases my knowledge of our local market, but it also demonstrates my strong commitment to continuously educating myself. I believe this is necessary to best serve my clients and help them achieve their real estate goals!”

Spotlight on PSA Coastal Delaware

PSA’s coastal offices in Rehoboth Beach and Ocean View, Delaware, have grown to more than 40 REALTORS® who are proud to serve the real estate needs at the beach and surrounding communities of Sussex County, Delaware and Maryland.

Our Resort and Second Home Property Specialist agents are the ultimate guides to the luxurious coastal lifestyle. They seamlessly blend their local wisdom with top-tier education to guarantee that your real estate voyage is both effortless and enriched. When you opt for one of our RSPS agents, you’re not just choosing an agent; you’re embracing a dedicated partner deeply rooted in the region and relentlessly pursuing excellence Experience the allure of coastal living with us and let our RSPS agents guide you to your dream resort or second-home. Your dream coastal escape is just a conversation away.

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Honoring Veterans on Veterans Day: Our Commitment to Military Families

As Veterans Day approaches, we take a moment to honor the brave men and women who have served our country with unwavering dedication and sacrifice. At Patterson-Schwartz, we hold a deep appreciation for our veterans and their families. We not only acknowledge Veterans Day, but also highlight the dedication of our real estate agents who have obtained special designations to assist military members and their families with their housing needs. Additionally, we share a heartfelt remembrance from one of our own veterans.

Honoring Those Who Served

Veterans Day is a time to express our gratitude to all the veterans who have defended our freedom. It’s a day to remember their bravery and the sacrifices they’ve made for our nation. We extend our sincerest thanks to all veterans, including those within our PSA family.

Our Agents’ Commitment to Military Families

At Patterson-Schwartz, we are proud to have a team of real estate agents across our market area who has obtained special designations specific to assisting military members and their families. These designations reflect their commitment to providing exceptional service to those who have served our country.

Jacob Levering – Rehoboth Beach
My Military Relocation Professional (MRP) certification is valuable to my business because it allows me to better serve both active-duty military and veterans. Being a veteran myself, I know the difficulties that come with moving around so often and transitioning out of the military. It can be a very stressful experience, so I’d like to help in any way I can to ease some of my clients concerns. This certificate gives me the knowledge I need in order to provide the best results for my military clients. It is truly a blessing to be able to give back to those who serve our country.

Lydia Ragonese – Dover
I value my MilRES® designation because it combines my personal experience as a military spouse with specialized training, enabling me to effectively address the unique home purchase and sales needs of military members.

Kathy Maupin – Dover
I chose to obtain the Military Residential Specialist (MilRES®) designation to honor my husband, stepfather, father, and brother who all served in the United States Air Force and my grandfather who served in the Royal Air Force. It was through a sense of duty that I felt I needed to continue to serve all military members – whether active-duty or veterans – with their housing needs.

Shana Delcollo & Diane Salvatore, Delcollo & Salvatore Team – Hockessin
Supporting military families holds a special place in our hearts, as we have family members who have proudly served or are currently serving our country.

In 2016, we earned our Military Residential Specialist (MilRES®) designations, enabling us to provide expert guidance to military personnel clients as they pursue their housing and budgeting objectives. Our dedicated team remains actively engaged in the community, organizing fundraisers for Delaware Stockings for Soldiers and volunteering with Wreaths Across America to honor our veterans.

Vicki Feeney – Middletown
I pursued my MRP designation because, coming from a military family, I appreciate their sacrifices on a whole different level. I cannot think of a better way to show my gratitude for veterans and service members more than to become an advocate for them.

Additional PSA Agents with military certificates or designations:

Celeste Beaupré, CMRS – Rehoboth Beach	Carolyn Doughten, MRP – Middletown
Betsi Carey, MRP – Greenville	Kathy Hoffman, MRP – Middletown
Michael Donnelly (The Welsh & Donnelly Group), MRP – Hockessin	Chris McAleer – MRP – Newark
Julie Cicone, MRP – Middletown

A Veteran’s Remembrance

In the spirit of honoring Veterans Day, we’d like to share a touching remembrance from one of our own veterans, Lee Heck of our Hockessin office.

I am a veteran of the US Navy, having served from 1966-1970. Being a veteran to me is both a matter of great pride and also sorrow.

PRIDE: Like all veterans, who chose to put service to our country first instead of thinking about our own self-interest. For those who have not served, they should recognize all veterans for the huge commitment that is made from the first day we all raised our right hand to take the oath to defend the constitution of the United States against all enemies foreign and domestic and became members of the military. In doing so, each of us wrote a blank check to our country offering not only our time, but also acknowledging that we may die in service to our country. I am proud to have raised my hand to do my part to protect the county and the way of life that we all enjoy.

SORROW: For those veterans be they soldiers, sailors, airman, or marines from the beginning this country’s history who made the ultimate sacrifice for their generation and those in the generations that would follow. For my generation, a visit to the Vietnam Veterans Memorial, which was built to honor those who served but, more importantly, those 58,000 who died in that war. The sorrow of knowing that each name on the wall is someone’s son, brother, husband, father, uncle or, in a few cases, a sister, mom, aunt, or wife who did not return home to their family. Reading the individual names makes their sacrifice personal and all the more meaningful.

I am proud of my service and have no regrets. As most veterans, if asked, will tell you, they would do it again if the situation was the same.

To all the active duty service members now serving throughout the world especially those directly in harm’s way: May God bless you and protect you. To my fellow Navy shipmates: May you always have “fair winds and following seas.”

Serving Those Who Serve

Serving those who serve is at the heart of our company’s values because it embodies our unwavering commitment to community service. By supporting military members and their families, we not only assist in their housing needs, but also contribute to making our service area a better place to live and work. It’s our way of giving back to the heroes who have dedicated their lives to our nation. We salute all veterans for their service and sacrifice, and we are proud to have agents with specialized designations to assist them in their housing needs.

On this Veterans Day, let us remember and honor those who have given so much for our nation. Thank you for your service.

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Worth a Click: PSA’s New Online Home Valuation Tool

Selling a home can be an exciting yet daunting task, especially when it comes to determining its market value. Fortunately, Patterson-Schwartz Real Estate has partnered with Leading Real Estate Companies of the World^® and Percy, the renowned real estate technology company, to address the two most important questions every potential seller has: What is my home worth? And do you have buyers for it?

Get a Feel for the Market

By analyzing nearby sales, buyer behavior, and your home’s unique characteristics, our home valuation tool provides three valuations along with insight into the number of buyers actively searching for a property just like yours! Whether you’re considering selling or simply curious about your home’s value, this user-friendly online tool presents real-time buyer activity heat maps and profiles of potential buyers that make the data come alive. With just a few clicks, you can gain a clearer understanding of the value your property holds in today’s competitive market.

Sell with Confidence

Our new online home valuation tool acts as a powerful stepping stone towards a successful home selling journey. Armed with comprehensive insights, you can confidently navigate the real estate market, set an optimal listing price, and make informed decisions throughout the selling process.

As a renowned real estate agency with a long-standing history of excellence, Patterson-Schwartz brings in-depth local knowledge and industry experience to the table. Our team of local experts is readily available to provide personalized guidance and expert advice when you’re ready to take that step.

Discover the new “What’s My Home Worth?” tool, now available on pattersonschwartz.com, and embark on a successful selling journey with confidence.

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Singer, Dancer, Super-Agent: Who do you want by your side?

Contributing blogger Charlie Schwartz, II, shares industry insight and the importance of having the guidance of a true real estate professional in the July 2022 Schwartz Report.

The Federal Reserve’s Open Market Committee voted in June to raise the fed-funds rate* by three quarters of a point, the steepest single rate rise since 1994. Mortgage rates hovered around 3% at the beginning of the year but are now double that and likely climbing. Clearly, we are in a transitioning real estate market for the first time in more than a decade.

Expert guidance for a song?

I’ll start a bit tongue-in-cheek with the old joke about the fellow who goes into a pet store to buy a canary. He hears a beautiful song coming from one of the cages and goes over to investigate. He’s enchanted by the melody but notices after a bit that the bird with the beautiful song is missing a leg. So he calls the pet store owner over and says, “This bird has a wonderful song but look, it only has one leg.” The owner doesn’t miss a beat: “What do you want: a singer or a dancer?” Stick with me folks, I’m going somewhere with this.

We have seen the subject pop up countless times about whether it makes sense in any market to pay full real estate commissions to your real estate agent to manage the sale of your home. “Why should I pay so much to hire an expert when houses have been selling themselves and a mere posting anywhere will generate multiple and escalating offers?” Even the downtrodden buyers of late might ask, “why should I pay a fee to my buyer’s agent to find me the right home when everything is online?” The answer is straightforward but has gotten little attention lately —because you are depending on this person and his or her company to help you reach your goals in a sale or purchase. Going forward, you need an expert guide if you are traveling an unmarked and even dangerous road.

You see, selling or buying is not an event. It is a process. Frequently, it proves to be a long process. So when contemplating either a purchase or a sale, you’ll need a committed guide who has both product knowledge and process skill to get you where you need to go. Finding a buyer willing and able to pay market value at a time of mass uncertainty takes a true professional. A minor miscalculation in trying to time the market could cost thousands. Finding reasonable financing alternatives at affordable rates isn’t a walk in the park today either. A superior agent will be there working for you right up until the closing and will stay with you long after that as well.

“Shopping” for the right agent

So, choosing the right agent to represent your interests is definitely not like going to the pet store. There are many more choices than just singers or dancers. I’ll set down here four criteria to judge by and then one bottom-line question when making that choice in the upcoming market.

1. Product knowledge

What is your competition, where is it, and what is it selling for? Asking prices in the forthcoming market will mean nothing to prospective buyers. Future market activity will be a cross between a price war and a beauty contest. Your asking price and terms must be compelling not just competitive. The condition of your property will need to be sample-house ready. Buyers have always bought by comparison and a good agent will help them become as market-savvy as they can be. Sellers will need an agent with the courage of his or her convictions who will tell them what they need to know, not one who is telling them what they want to hear.

2. Process Skill

A real estate transaction has been likened to an iceberg floating in the ocean. Buyers and sellers only see the top tenth of what goes on in their transaction. The other nine tenths lurks unseen beneath the waves and is critical enough to sink the deal if you do not have a skillful pilot at the helm. Frankly, when the property sells is when the real work begins. Home inspection, appraisal, and mortgage issues will call for subsequent rounds of delicate negotiations.

3. NEGOTIATING SKill

As one fellow put it: “If they were mild-mannered when negotiating with you on price, condition, terms of sale, etc.; then how likely is it that they will turn into a super-agent when negotiating with the buyer or seller on your behalf?” So, in the coming market, hiring a talented negotiator could save you thousands, perhaps tens of thousands of dollars.

4. Marketing Plan

Most agents put this up front in their presentation, but there is a reason that I save it for last. No amount of hype will compensate for an noncompetitive price, poor location, or poor condition in a re-balancing market. Regardless of the mix of media employed, the plan should seek to know and take advantage of the methods that prospective purchasers are using to find the home of their dreams. Furthermore, you’d be smart to employ an agent who can be your ambassador to other agents and who has a reputation for doing good business. Because in the coming marketplace, nobody will have all the prospects.

Bottom-Line Question

When interviewing a real estate agent, ask them why they believe that now is a good time to buy a home or make an investment. They should be able to explain that simply and effectively. Buyers are becoming increasing nervous about buying as interest rates go up. They will want to know that they are making the right choice. You’ll need someone who believes that this is one of the best times in American real estate history to buy. If an interviewee gives you a song and dance on that, how will they be able to convince a potential buyer to buy your home or get that nervous buyer to take that leap of faith?

*The Wall Street Journal defines the fed-funds rate as the overnight rate on lending between banks. It influences other consumer and business borrowing costs throughout the economy, including rates on mortgages, credit cards, savings accounts, car loans and corporate debt. Raising rates typically restrains spending while cutting rates encourages such borrowing. The mortgage market will be negatively affected by the prospect of tighter money.

About Patterson-Schwartz

At Patterson-Schwartz Real Estate we are proud of our 60+ year legacy that proves we are prepared for any market challenge and only getting stronger. As Delaware’s largest independent real estate brokerage, we are represented by ten offices and over 550 highly-skilled sales associates and staff. Our full range of services include residential home sales and rentals, relocation services, and property management. We invite you to connect with us when you’re ready to partner with a local super-agent.

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Patterson-Schwartz: Enhancing the Home Valuation Experience

Keeping pace with an ever-evolving local market is important, but finding reliable information can be a challenge. Patterson-Schwartz understands this challenge and is pleased to announce a new partnership with CloudCMA and Homebeat, leaders in the home valuation tool industry.

What is a CMA?

A Comparative Market Analysis (CMA) is the term real estate professionals use when they conduct an in-depth analysis of a home’s current worth based on the prices of similar active, pending, and sold properties in the area. Real estate professionals present a CMA to their clients to help them determine a price when listing a home or making an offer to buy a home.

CloudCMA provides our sales associates with the real-time data and innovative tools necessary to guide clients through crucial price-related decisions. When it comes time to list your home for sale, you can depend on our sales associates to provide the very best CMA reporting and personalize it to you. In the meantime, how can you stay informed on the market and begin to understand the true value of your home?

A local real estate expert is your best resource

A flood of websites out there promise an instant value for your home, but, in reality, they are rarely accurate. There are so many factors that contribute to a property’s value that these online models overlook, including the property’s condition. Only a licensed real estate professional familiar with your area can give you a true idea of what your home is worth. In that regard, you should avoid relying solely on a website to determine your home’s value, but understanding local housing trends is a great place to start.

On the fence about selling? Try Homebeat!

Homebeat through Patterson-Schwartz allows you to regularly check the sales activity of the homes around yours. As a Homebeat subscriber, updates about your neighborhood’s housing trends are emailed to you at the frequency of your choice. Each report includes properties in your neighborhood with MLS and market data, and refreshes automatically with the most recent listings and sales information available.

When you’re ready to consider selling, a Patterson-Schwartz sales associate can upgrade your Homebeat to a comprehensive CMA and deliver it to you in the method you prefer: in-person, electronically, or video chat. The knowledge and personal care of our local experts paired with the innovative reporting data from CloudCMA will help you list your home with confidence in any market. To keep your finger on the pulse of the market, get started with Homebeat today!

About Us

Patterson-Schwartz Real Estate is Delaware’s largest independent real estate brokerage and offers a full range of services that include residential home sales, purchase and rental, relocation services, and property management. We invite you to connect with us when you’re ready to partner with a local real estate expert. We’ve been guiding home buyers and sellers since 1961.

Home buyers Are Going on a Shopping Spree This Winter

Experts anticipate the real estate market will see a flurry of activity this winter, and that’s great news for today’s sellers. If you’re planning on listing your home, there’s no need to wait until the spring for better conditions – today’s real estate market is already heating up.

Buyers Have Warmed Up to the Idea of Purchasing This Winter

The past 18 months brought about significant lifestyle changes for many of us, including the rise in remote work, job changes, and even early retirement for some. For many people, it’s prompting a search for their next home now rather than waiting for warmer months.

Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), points out how this winter may see a significant number of sales:

“Compared to other past winter seasons, this winter season’s sales activity will be stronger. . . . This winter, there will be more sales compared to pre-pandemic winters going back all the way to 2006.”

You might be wondering: what does strong sales activity mean for you? It means there are likely to be more buyers active in the market this winter – far more than more normal, pre-pandemic years.

In the same article, Danielle Hale, Chief Economist for realtor.com, puts it in these simple terms:

“Sellers can expect to see plenty of buyers.”

The more buyers there are in the market, the more likely it is your home will get noticed. That can lead to a multiple-offer scenario or a potential bidding war. Receiving multiple offers on your home means you can select the right offer and terms for your situation – so you can truly win as a seller when you list your house this winter.

Bottom Line

If you’re thinking about selling your house, you don’t need to wait until the spring. Buyers are ready now. Connect with one of our local experts to discuss why selling this holiday season could be the gift that keeps on giving. Patterson-Schwartz Real Estate been guiding home buyers and sellers since 1961.

Source: Keeping Current Matters, December 2021. The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice.

Patterson-Schwartz launches Adwerx Motion ads

It is no secret that today’s consumers often begin their search for a home online. And now more than ever, a robust and effective online strategy is vital for connecting with home buyers. At Patterson-Schwartz, we employ a vast array of online marketing efforts to increase our listings’ exposure, and we’re excited to announce a new animated format from our digital ad partner, Adwerx Enterprise.

Enhancing the digital experience

In 2018 Patterson-Schwartz began a partnership with Adwerx Enterprise, an industry leader in digital advertising automation. With the Adwerx platform, digital ads for new Patterson-Schwartz listings launch when a property is publicly listed during the all-important first week that a home hits the market and receives the most attention. Combined with sophisticated retargeting technology, these ads follow local home buyers around the web and appear on popular websites such as ESPN and the New York Times and social media sites like Facebook and Instagram.

“Patterson-Schwartz focuses on using superior tools to market their listings, and we have helped them engage online buyers and cost-effectively advertise on websites alongside big brands,” says Nathan Kainz, Enterprise Account Management, Team Lead at Adwerx. “But we know the real estate industry is competitive and are always looking to enhance the ability to grab the attention of consumers.”

An innovative partnership

Developed to stand out in the digital environment, Adwerx Motion combines the effectiveness of targeting listing ads with the power of motion to create content that reaches more prospective buyers and increases the visibility of each listing. This new feature allows display advertising to be animated using HTML5 technology – an ad type proven to drive higher engagement and improved click-through rates.

“When we were approached by our account representative to be one of the first brokers to launch Adwerx Motion ads, we didn’t hesitate to jump on board.
“The ability to upgrade our automated listing campaigns to an animated design creates another opportunity for our agents to impress their sellers and win the listing presentation. Adwerx consistently enables us to provide value to our agents and their clients by helping their listings stand out in a highly competitive environment.”
Justin Kierstead, Marketing Director of Patterson-Schwartz Real Estate

About Us

Patterson-Schwartz Real Estate is Delaware’s largest independent REALTOR® with ten offices and over 450 full-time Sales Associates. We offer a full range of services that include residential home sales, purchase and rental, relocation services, and property management. We invite you to connect with us when you’re ready to partner with a local real estate expert. We’ve been guiding home buyers and sellers since 1961.

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4 Reasons You Should Consider Selling This Fall

If you’re trying to decide when to sell your house, there may not be a better time to list than right now. The ultimate sellers’ market we’re in today won’t last forever. If you’re thinking of making a move, here are four reasons to put your house up for sale sooner rather than later.

1. Your House Will Likely Sell Quickly

According to the Realtors Confidence Index released by the National Association of Realtors (NAR), homes continue to sell quickly – on average, they’re selling in just 17 days. As a seller, that’s great news for you.

Average days on market is a strong indicator of buyer demand. And if homes are selling quickly, buyers have to be more decisive and act fast to submit their offer before other buyers swoop in.

2. Buyers Are Willing To Compete for Your House

In addition to selling quickly, homes are receiving multiple offers. That same survey shows sellers are seeing an average of 4.5 offers, and they’re competitive ones. The graph below shows how the average number of offers right now compares to previous years:

Reasons You Should Consider Selling This Fall | MyKCM

Buyers today know bidding wars are a likely outcome, and they’re coming prepared with their best offer in hand. Receiving several offers on your house means you can select the one that makes the most sense for your situation and financial well-being.

3. When Supply Is Low, Your House Is in the Spotlight

One of the most significant challenges for motivated buyers is the current inventory of homes for sale. Though it’s improving, it remains at near-record lows. The chart below shows how today’s low inventory stacks up against recent years. The lighter the blue is in the chart, the lower the housing supply.

If you’re looking to take advantage of buyer demand and get the most attention for your house, selling now before more listings come to the market might be your best option.

4. If You’re Thinking of Moving Up, Now May Be the Time

If your current home no longer meets your needs, it may be the perfect time to make a move. Today, homeowners are gaining a significant amount of wealth through growing equity. You can leverage that equity, plus current low mortgage rates, to power your move now. But these near-historic low rates won’t last forever.

Experts forecast interest rates will rise. In their forecast, Freddie Mac says:

“While we forecast rates to increase gradually later in the year, we don’t expect to see a rapid increase. At the end of the year, we forecast 30-year rates will be around 3.4%, rising to 3.8% by the fourth quarter of 2022.”

When rates rise, even modestly, it’ll impact your monthly payment and by extension your purchasing power.

Bottom Line

Don’t delay. The combination of housing supply challenges, low mortgage rates, and extremely motivated buyers gives sellers a unique opportunity this season. If you’re thinking about making a move, reach out to one of our local experts to chat about why it makes sense to list your house now. Patterson-Schwartz Real Estate been guiding home buyers and sellers since 1961.

Source: Keeping Current Matters, September 2021.The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice.

6 Reasons to Celebrate National Homeownership Month

Our homes are so much more than the houses we live in. For many, they’ve also become our workplaces, schools for our children, and safe harbors in which we’ve weathered the toughest moments of a global pandemic. Today, 65.6% of Americans call their homes their own, a rate that has risen to its highest point in 8 years.

As National Homeownership Month gets underway this June, homeowners have every reason to celebrate. A survey by Gallup just ranked real estate as the best investment you can make for the eighth year in a row. However, unlike other investment options, the benefits of owning a home aren’t purely financial. Here are the top ways Americans are winning by owning a home.

Non-Financial Benefits:

Civic Participation: Owning a home is owning a part of your neighborhood. Homeowners have a stronger connection to their neighborhoods and are more committed to volunteer work and other ways to get involved.
Pride of Ownership: Owning a home is having a space that is uniquely yours. You can customize it to your personal liking and make it reflect your personality and values.
A Safe Space: Owning a home gives you a sense of security and privacy – two things that have become even more valuable as we’ve tackled the challenges of the recent health crisis.
Financial Benefits:

Financial Benefits:

Forced Savings: Owning a home builds equity. Your equity grows with each payment you make toward your mortgage. This form of forced savings can be used down the road to help you accomplish your biggest financial goals.
Appreciation: Owning a home is making an investment that steadily gains value, and experts project home values will continue to rise in the years to come.
Stability: Owning a home means having better control over your future housing payments. Over the years, a mortgage stays relatively steady, but rent costs continue to rise.

Bottom Line

If you own your home, take time this June to celebrate the ways homeownership has added value to your life. If you hope to become a homeowner this year, connect with one of our local experts today to take the first steps toward achieving your goal. We’ve been guiding home buyers and sellers since 1961.

Source: Keeping Current Matters, June 2021. The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice.