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My wish for you this holiday season would be for you to receive the gift of TIME! In today’s world, many of us are guilty in getting caught up in our busy lives that we don’t take enough time to share life with the ones we love. Now especially, with the holiday season upon us, we have so much more to do, we forget about what’s most important!

Let us not forget that life is too short and that we can’t take back those days of “would have and should have.” Let us remember to live in the moment…. because as we all know, these moments are much too precious to let go by!

So, if there are no other gifts you give this holiday season …. give the gift of TIME, to you and to those you love… sharing good times with your family and friends… for this is a priceless gift that will live in your heart and the hearts of others forever!

To my clients, friends, and family …

To all who celebrate … Have the Merriest of Christmas 🎄

Wishing you all the happiest of New Year!

May all the love, joy and peace of the season be with you today and throughout the coming year! 

Laura

If that be the case, getting the prep work started now could be the difference between a smooth, successful sale to a stressful one. If you are thinking of selling in the spring … which we know is considered to be the busiest season in real estate, the smartest move you can make is to start prepping your house now.

Planning ahead, allows you to maximize the spring market’s higher buyer activity. Planning ahead, gives you time to prepare at your own pace, rather than waiting until spring only to find yourself scurrying around to get the house “show ready” just adds unnecessary stress to the home sale process. It allows you the time to do things right, and not do a quick fix, like sweeping things under the rug if you will. Start compiling a “To Do List” and prioritizing the list, is key to accomplishing the tasks at hand. TOP of list – you got it! Consult with an experienced Real Estate Advisor to help compile and prioritize that list to ensure the task at hand will net you the most value in your home sale. It has been my experience that many sellers will think they have to do more than they really need to, to earn them top dollar. Consulting with your advisor that has the experience and knowledge of the market will be able to shed “actual light” as to what is necessary and what is not – potentially saving you time and money. 

Here’s Why Starting Now Matters

We are starting to see more homes active on the market now than we’ve seen in years, and given buyers now have more to choose from, your house will need to look its best to outshine your competition. Starting early gives you the time to prepare your home to shine in the best light. 

Now, that doesn’t mean you have to do any major renovations, but it does mean you’ll want to tackle some needed projects before you sell, and you don’t want to be left scrambling in the spring to get the work done. The advantage you have now is if you start this year, you’ll be able to space those upgrades and repairs out however you want to. More time. Less stress. No sense of being rushed or racing the clock. 

Whether it’s fixing that leaky faucet, repainting your front door, or finally replacing your roof, you can do it right if you start now. And you have the time to find great contractors without blowing your budget or paying extra for rushed jobs.

Pricing Strategy

Not only is getting your home “show ready” important – price positioning your home on the market correctly will always be the most important, all things considered, to ensure a successful home sale. In short, and as part of the process your real estate advisor should prepare a Comparable Market Analysis (CMA) which will determine the range of value of your home in “today’s” market. With that information, he/she will discuss the best pricing strategy given the current market and competition. I can’t emphasize enough the importance of a correct pricing strategy as this will be the key to your home sale success. 

Over the last couple of years, we have grown accustomed to homes going on and off the market in a blink of an eye. And now, while inventory has risen a bit more, with longer days on market (DOM), much due to homes not being priced correctly for the market. So properties sit on the market a bit longer, adding onto the newly listed properties which then together adds to the higher inventory. This demonstrates that the pricing strategies being used in some cases, are not changing with the market. Having said all that, in our local area it is still considered a seller’s market, still enjoying multiple offers on properties that are priced well or are very desirable/unique properties. It is not the “crazy” if I can say … seller’s market – but still a seller’s market, nonetheless.

Below I’ve highlighted some other factors to ponder on when preparing your house for market. Examples of homes that may stay on the market longer, and/or sell for less than they could have if they priced them correctly given the following factors: 

• Priced it too high from the start

• Skipped necessary repairs before listing

• Didn’t stage the house well

• Sellers won’t negotiate with buyers

• Limited availability for showings

• Ineffective marketing or listing pictures

To sum things up …

Price a home based on current conditions (not what your neighbor sold for 3 years ago). Make important repairs. And highlight the best things about your house. If you do, and you don’t have any major objections (but should be priced accordingly/as is, if you will), your house will sell in any market – sometimes even faster than you’d think. Because the truth is, homes that are priced right today are still selling. 

Most things stated above didn’t matter as much just a few years ago. When inventory was at a record low, sellers were able to skip the prep work, name their price, and still walk away with multiple offers over their asking price. Not so much in today’s market. You don’t want to aim too high just to see what sticks … you want to aim right!! 

Understand – your first couple of weeks on the market is everything. That’s when your listing gets the most attention – so it’s important to get price and presentation correct, right out the gate on Day 1! Get it wrong up front and your house will sit…and sit. Get it right, and it’ll be snatched up before you know it.

My strongest advice to you would be … meet with a real estate advisor as a first step to discuss first steps in getting your house ready for market. 

He/she will help you figure out what’s worth doing, or not in your market. That way you’re not wasting your time or money on something that won’t help your bottom line. 

An experienced agent can tell you:

• What buyers in your local area are looking for

• The repairs or updates you need to do before you list

• How to prioritize the projects, if you can’t do them all

• Recommend skilled local contractors who can help you get the work done

And having this information up front is a game changer.

If 2026 is your year to sell, the work starts now. Taking some time to prep means you’ll hit the market confident, ready, and ahead of other sellers who waited until January to get started.

If you are thinking about selling your home in 2026, and you have questions … feel free to reach out to me. I would be happy to answer any and all questions real estate and discuss how to navigate the process given your specific situation. I am here and happy to help!

HIGHLIGHTING OUR LOCAL BUSINESSES

If you are looking for an Insurance Broker who specializes in Medicare Insurance Plans – you’ll want to reach out to Don Steisel.  Don is very helpful in navigating the medicare system and has a wealth of knowledge in that arena.  Don can be reached at: 203-614-9139. Tis the season to “make that change” 🙄

If you are interested in receiving “Laura’s List Of Service Providers” – feel free to reach out to me, I would be happy to share!

Laura

The Key To Your Real Estate Success

Helping buyers and seller achieve their real estate goals

I thought for this month’s Monthly Insights – I would share with you, in its entirety, an article that I pulled from the National Association Of Realtors (NAR) latest housing report. A lot of good information and insights best left as an as is read. 

Read on …

Could A Real Estate Sales Shift Be Ahead This Fall?

Signs point to a “second spring market” while recent mortgage rates rekindle buyer interest. Read more from NAR’s latest housing report.

The latest housing data caps a lackluster summer, with home sales largely stalled as buyers appear to hold back for the right opportunity. But recent reports suggest the fall season could breathe new life into the housing market.

Mortgage rates have dropped over recent weeks, with loan applications for home purchases—a gauge of buyer demand—climbing by double digits compared to a year ago.

Still, the market remains mostly in a holding pattern. Existing-home sales—which reflect closed transactions for single-family homes, townhomes, condos and co-ops—barely budged last month, down by 0.2% compared to July. That does, however, remain 1.8% higher than a year earlier, the National Association of REALTORS® reported Thursday.

“Home sales have been sluggish over the past few years due to elevated mortgage rates and limited inventory,” says Lawrence Yun, NAR’s Chief Economist. “However, mortgage rates are declining, and more inventory is coming to the market, which should boost sales in the coming months.” 

The 30-year fixed-rate mortgage has recently dipped below 6.5% retreating from nearly 7% earlier in the year. As rates have eased, mortgage applications for home purchases jumped up 18% year-over-year in the past week, the Mortgage Bankers Association reported Wednesday. The rise suggests financially prepared buyers are ready to move—that is, once they find the right home.

Why This Season May Draw More Buyers Out

Housing inventory is opening up, giving home buyers more options. In August, inventory levels rose about 12% compared to a year ago. Homes are also sitting longer: The median time on the market was 31 days in August, up from 26 days a year earlier, according to the latest REALTORS ® Confidence Index. Buyers now have more choices—and less of the frenzied pace of years past.

These factors could open the door to more first-time buyers, in particular, who have been largely sidelined due to higher costs and limited choices. First-time buyers made up just 28% of August transactions—well below their historical 40% share prior to 2008. But sales of affordable homes continue to be constrained by a lack of inventory, Yun notes.

A recent housing report suggests more listings, lower prices and less competition could be coming this fall, making up what realtor.com calls a prime time for home buyers. Their research identified the week of Oct. 12-18 as offering the best buying window of the year

Alexa Kabelo, a real estate pro with eXp Realty and the 2025 president-elect at Connecticut REALTORS®, (whose service areas are based in the West Hartford, Hartford & Manchester markets) sees this playing out in her market. “We actually have what we call a ‘second spring market’ in the fall,” she says. “We see a spike of listings this time of year. Buyers are finding more properties—and more choices are always good. It’s definitely a great opportunity if you’re looking to make a move.”

She also notes that buyers are regaining some negotiating power, something rare in recent years. Inspections and repair requests, for example, are back on the table, and those who came up short in the spring and summer are finding they may have a better shot at finding a home at the price they want this fall. “We’ve actually been able to negotiate more,” Kebalo adds. “It feels more hopeful right now for buyers than what we’ve seen in the past.”

Home Prices Remain Resilient

The median existing-home sales price in August was $422,600, up 2% from a year ago, NAR reports. While some areas are reporting price adjustments, home values overall have remained strong. Only 2% of sales are distressed sales—comprised of foreclosures or short sales—which remains at historical lows, NAR’s data shows.

The typical American homeowner has experienced a cumulative 49% home price appreciation from July 2019 to July 2025. Plus, over the last five years, the average homeowner’s wealth has increased by $140,900, NAR’s research shows. 

“Record-high housing wealth and a record-high stock market will help current homeowners trade up and benefit the upper end of the market,” Yun says.

For some homeowners, that equity has allowed them to pay all cash on their next purchase. Cash buyers comprised 28% of transactions in August, continuing to represent a historical high share of the market, NAR’s data shows.

Regional Outlook

The areas tightest on inventory continue to see some of the steepest rises in home prices—notably, the Northeast. The median home price in August in the Northeast climbed 6.2% month-over-month, reaching $534,200, as the region continues to experience some of the strongest price appreciation in the country.

Meanwhile, the Midwest offers some of the lowest home prices and is the top-performing region for home sales in August, Yun notes. The median home price in the Midwest is 22% below the national median price.

Here’s a closer look at how home sales fared across the country in August:

• Northeast: Existing-home sales fell 4% in August, reaching an annual rate of 480,000. Sales are down 2% compared to a year ago. Median price: $534,200, up 6.2% from a year ago.

• Midwest: Sales rose 2.1% last month, settling in at an annual rate of 960,000. Sales are up 3.2% compared to a year ago. Median price: $330,500, up 4.5% from a year earlier.

• South: Existing-home sales dropped 1.1% in August to an annual rate of 1.83 million. Sales, however, are still up 3.4% compared to a year ago. Median price: $364,100, up slightly by 0.4% compared to August 2024.

• West: Existing-home sales increased 1.4% in August compared to July, reaching an annual rate of 730,000. Sales were down 1.4% from a year earlier. Median price: $624,300, up 0.6% from a year ago.

SOURCE: Melissa Dittmann Tracey, contributing editor for REALTOR® Magazine – information pulled from NAR’s latest housing report.

I am alway’s asked “How’s the market?” … Such a broad question, since from what perspective should I speak to, right? Love the question! The real estate market is ever changing – important to keep “in the know,” no doubt. But do keep one thing in mind … buying a home for many, not all, is a long term investment – so riding the highs and lows is all part of homeownership. So the one question I like to ask is … “what are your real estate goals – are you thinking of buying or selling your home?” And if so, why? Your WHY is the most important question you have to ask yourself, regardless of what the market is doing – but it is certainly an important factor to take into consideration no doubt. Something else important to note, would be the varying market activity throughout our regions, which as you can see can be very different from ours, that could play a part in your decision making process, should you be considering moving outside the Northeast. 

HIGHLIGHTING OUR LOCAL BUSINESSES

If you are in need of a plumber, I would suggest giving Jim Renzulli, owner and operator of RENZ Plumbing a call. He is quick to respond to your calls, honest, efficient, and gets the job done well. Jim can be reached at 203-792-3142.

If you are interested in receiving “Laura’s List Of Service Providers” – feel free to reach out to me, I would be happy to share!

Laura

The Key To Your Real Estate Success

Helping buyers and seller achieve their real estate goals

If you’re a homeowner planning to move, you’re probably wondering what the process is going to look like. You may ask …

Is it better to start my home search/find my next home now?

or

Should I sell my current house first before I go out looking?

Answer … yes, and yes!

There are many moving parts when you are a current homeowner and looking to make a move. Making the right moves first, will eliminate a lot of the stress moving forward … literally! First and foremost, hire an experienced/knowledgeable local real estate professional who will walk you through the process. Then together will assist you in formulating a plan, on what strategy makes the best sense for you on how to move forward. Hiring a real estate professional who knows your local market and understands what’s working and what’s not right now will put you in a better position in the market. They will be able to make recommendation based on their expertise and your needs.

Let’s break it all down, to see what plan might work best for you. But I will just say this … do keep in mind, while you think you know which way may seem best for you, that too can change. Sometimes things happen as you are going through the process that you may not have expected, which in turn, could change your direction.

I always council my seller and buyer clients who are considering entering the market to just “be ready.” And when I say be ready – as a seller – you will want to have your home as “show ready, as possible – discussing with your agent, what that will look like to you, at your first or second meeting. Having these conversations with your agent right at the beginning is very important, as it will set the stage for your success.

My experience has found that as a seller, you may think you need to do this and that … when in reality … you may only need to do “this.” While many sellers are aware of what they need to do to get their home show ready, I more often find sellers get overwhelmed with all they think they need to do. Talking it out with your real estate advisor and prioritizing the important things will help guide you through the process with much more ease. Whether its repairs or minor/major upgrade, an experienced agent will explain to you, that while some upgrades can be important to do in gaining you top dollar – it also may not be as important as you think. He/she will explain that in many cases, depending on the upgrade will advise the seller that they should not expect to receive dollar for dollar back on their investment. So, choosing wisely is important. Your advisor will be able to give you guidance on what things are important to do or not, so that it will gain you the most value in your home sale. Perhaps you are one of the lucky ones, like many – who are just “show ready” right from the get-go – so nothing to do here. As a seller who is looking to buy, whether you will decide to sell first or buy first before selling … the above strategies, become ever more important in putting your best foot forward towards a successful move.

As a buyer – who is also a homeowner, considering buying first then selling your home after – understanding this process fully, is so important. Your real estate advisor will discuss many factors which will come into play as to whether this is a feasible option for you or not. Or do we have to put another strategy in place to accomplish your goal. Such things to discuss are – do you currently have a mortgage on your existing home; do you plan to purchase the home through the equity of your sale, or do you have the cash in the bank to buy the home outright? If you are going to finance your purchase prior to selling, you will want to speak to a lender to get pre-qualified/preapproved for a mortgage. By doing so first, you will find out what options may or may not be possible given your financial make-up. If you cannot buy before selling … don’t be discouraged, as this is the case for many homeowners looking to buy, and we have a “plan, a strategy for that.” 🏡. Speaking to an experienced and knowledgeable real estate advisor will give you the tools and strategies to accomplish your end goal.

SOME ADVANTAGES TO SELLING YOUR HOME FIRST

You Will Unlock Your Home Equity

The first step in the process will be to have your agent prepare a Comparative Market Analysis (CMA) for you. This analysis will be the “tell all” of how much equity you hold in your home, which is key. Knowing your current homes value is so important especially when you are looking to sell and buy at the same time. Knowing your home’s value should give you a good idea of what your budget will be on your next home purchase, if you are counting on using that equity for a down payment or better yet, an all-cash purchase on your next home. Selling your current home before you buy your next home allows you to access the equity that you have built up through the years and gives you the upper hand as a buyer.

Making an offer on a property, with a contingency of sale “Hubbard’s Clause” may not put you at the top of the list of seller’s choice, should there be multiple offers on the property. This is not to say sellers would not accept a Hubbard’s Clause, as I have seen a few, even in today’s market – just given a choice – maybe not so much. It truly depends on the market we are in, and it also depends on where you are in that process of selling your home – Is it on the market? Has a buyer been located? Have inspections been done? Is their buyer applying for a mortgage, or are they a cash buyer? You get the idea … The closer you are to the closing table many of the obstacles have been removed.

You Won’t Be Juggling Two Mortgages

Trying to buy before you sell means you could wind up holding two mortgages – if you are approved to hold both, great! But even if you need to hold both for just a few months, it can get expensive, fast – especially if there are unexpected repairs or delays. Selling first removes that stress and helps you move forward without the financial strain. But the caveat to this is – “How do I do this, and not be homeless?” you ask. Read on …

You’ll Be in a Stronger Position When You Make an Offer

Sellers love a clean, simple offer. If you’ve already sold your house, you don’t need to make your offer contingent on that sale – and that can help you stand out. Your agent can position your offer to be as strong as possible, so you have the best shot at getting the home you want. This can be a big advantage in competitive markets such as ours, where sellers prefer buyers with fewer strings attached.

One thing you will need to keep in mind if you are selling your home first. Like with anything in life, there are tradeoffs. As you weigh your options, consider this potential drawback:

Where will you live if you haven’t secured your next home?

Things to think about once your house sells – you may need a short-term rental or stay with family or friends until you can move into your next home. Your agent can help you negotiate things like a post-closing occupancy (renting the home from your buyer for a set period of time – we call that a “rent-back” This is where the property closes, title is recorded with the new buyers take ownership. And then you, as the once be owner – will rent-back from their now buyer/ owner for a specific period of time, which has been agreed upon by both buyer and seller. Got it? This avoids the seller having to move 2x, avoiding storage costs, and just streamlines their move by giving them a little time. The upside to the buyer is – if they are and can be flexible with their move – offering the seller a rent-back option – may just get them the home they were hoping to secure by getting their offer accepted, especially if they are in a multiple offer situation. Most often when we list homes for sale, and the seller has not secured a home yet, and is seeking suitable housing – that would be something noted in the listing, so the buyers are aware that being flexible with closing dates is an important factor of offer acceptance to the seller.

Selling first helps you buy with more confidence, more financial power, and less pressure no doubt, but the comfort of knowing where your next home will be – may be more pressure in and of itself. If you recall, I started this writing by stating …

Is it better to start your home search/find your next home now?

or

Should I sell my current house first before you go out looking?

Answer … yes, and yes!

I know I laid out many options when it comes to “should I buy or sell first” – if you have the CASH to purchase your next home prior to selling – that’s great! If you have a place to stay after you sell and before you buy – that’s great! But in all my years of experience, many sellers have limited options and they need to “sell to buy” – so my strategy is simple –

Put both wheels in motion – “Be ready in your sale and be ready in your home purchase all at the same time”. As a seller you need to get out there and start looking to see what types of homes are out there that will suit your wants and needs once your home sells. Begin your search early, while getting your home ready for market. We can market your home while protecting you with the contingency of sale “seller to find suitable housing” – so you are not homeless – giving you the time you need to find your next home. Granted, buyers aren’t going to wait forever, but if you are looking, you will have gauged the process, and then leave it up to your real estate advisor to negotiate timeline to close on your behalf.

It only takes “one” house to make it your “new home’ … Let the search begin and see how your next chapter unfolds!!

HIGHLIGHTING OUR LOCAL BUSINESSES

Have MOLD? No problem! Green Home Solutions of Western Connecticut is my go-to when it comes to these types of issues. No job too big or small. Professional, very knowledgeable, with great customer service. They get the job done thoroughly and quickly. David Robles/Owner, explains everything that is going on and how they can best remediate the issue. Dave and all his service team members are great to work with. Dave can be reached at 914-772-0026.

If you are interested in receiving “Laura’s List Of Service Providers” – feel free to reach out to me, I would be happy to share!

Laura

The Key To Your Real Estate Success

Helping buyers and seller achieve their real estate goals

If you have made the decision to sell your home, and are making preparations to do so … when it comes to pricing, I always tell my clients that … the price you choose to list isn’t just a number, it’s a strategy. And in today’s market, that strategy needs to be right on, right from the get-go. 

The number of homes for sale is climbing, and depending on your local market that will vary. Having said that, buyers will have more choices and can be more selective on the home they choose to make their offer on. If your price doesn’t line up with what else is out there, they will literally just scroll right past it and go on to the next one. This is the beginning of the shift, right? But not so fast, at least not being seen in our local market.  Not yet anyway … 

If you didn’t get a chance to read the “First Half 2025 Market Watch”, now would be a good time to do so. If you don’t have the time right now, no problem. The link is there for you to “click” when you have some time to read on. I’ve copied an excerpt from the report I thought worth highlighting, bring top of mind, if you will. This comes directly from our very own Chairman and Chief Executive Officer, Paul Bruenich. 

“Sellers are currently facing a window of opportunity, and since we don t know for certain how long the window will stay open, we encourage those still considering whether to list to take advantage of the moment and dive into the market. 

Readers may notice that some of the trends we are sharing don’t fully correlate with the national headlines related to real estate. The Wall Street Journal reported in June that as of April there were nearly half a million more listings on the market nationally than there were active buyers, a shift that could lead to erosion in sales and prices. However, our markets are behaving very differently, and we are bullish that they will continue to do so for the foreseeable future.”  Read on

If you are considering taking this window of opportunity to sell your home and move on to your next chapter … the key to being successful in this market, or any market for that matter – is pricing it right – and of course, hiring the right real estate professional that will ensure you have all the information you need in making those decisions. 

The Risk Of Overpricing Your Home

I’d like to preface this … some sellers are finding out the hard way, as they list their home based on how the market was a year or two ago – or based on their neighbor’s home sale, which in their particular circumstance and/or home offerings, may not have been equal. 

Some sellers will say … “Can we just try at this price?” In some rare instances it “could” be an option – but we would need to have the conversations of the “what if’s” scenarios and change course, if, or when necessary. Otherwise, the following will be some of the decisions some sellers will need to make, should they choose to list their home at a price higher than what the market may bear …

Lowering the price: This might help get more buyer eyes on the house again, but it will also come at a bigger cost then if the seller were to have priced it at that price from the beginning, Lowering the price gives the perception/raises the question if you will, as to what’s wrong with the home. And that in and of itself will impact any offers they may receive after the price reduction.

Take the home off the market: Some sellers may give up on the idea of selling right now. Unfortunately, the outcome of this means they are putting their future plans on hold, forgoing the exact reason why they put their home on the market to begin with. That dream of more space, downsizing, or relocating to be closer to family – whatever the driving force was, is now put on hold.

Renting your home: Becoming a landlord can be an option, but it is certainly not for everyone. Some things to ponder on, especially since not in your original plan. Things like managing tenants, navigating leases, responsibilities of being a landlord, just to name a few. Does it make sense from a cost perspective, weighing in on sale vs. renting. There are many moving parts to becoming a landlord if you have never done it before. In short … had the home been positioned correctly the first day on the market, it surely would have netted a different result. 

Where You Live Makes a Difference

While the number of price cuts is up nationally, data shows some parts of the country are seeing far more of them than others. It all comes down to how much inventory has grown in that area – (see map below):

SOURCE: Realtor.com

As Realtor.com explains:

“Regionally, price reductions in June were significantly more common in the South and West (23% of listings) than they were in the Northeast (13% of listings), reflecting the inventory divergence across these regions.”

That means pricing isn’t the same for all. What’s happening nationally may not necessarily reflect what’s happening in your local area. That’s why listening to the “national” news is not a good price gauge for your “local” market. 

I council my sellers always … stating that a well-priced home is more likely to sell at, but more often over the list price, and will sell quickly. To sell a home quickly and for maximum dollar – price and terms … requires strategy. Having a clear-eyed view of your home in relation to the competition, and knowledge of your local market is key.

If you are even thinking that you may be ready to step inside this window of opportunity, to discuss the possibility of placing your home on the market … please feel free to contact me, so we can schedule a meeting to discuss your real estate goals, and how I can help you achieve them. 

I am here and always happy to help!

HIGHLIGHTING OUR LOCAL BUSINESSES

If you are in need of a roof replacement – Aiello Roofing is the one to call. Family-owned business, top notch customer service, whose reputation is known as one of the best in the industry throughout our community.  Chris Aiello – Owner/Operator alongside his dad Kenny Aiello – I cannot speak highly enough about them … truly the best! Chris can be reached at 203-241-9300.

If you are interested in receiving “Laura’s List Of Service Providers” – feel free to reach out to me, I would be happy to share!

Laura

The Key To Your Real Estate Success

Helping buyers and seller achieve their real estate goals

If you are thinking about “making a move” … you’ve probably asked yourself – Is it even worth trying to buy a home right now?

With high home prices and higher mortgage rates, renting can seem like the safer choice right now. Or perhaps, maybe your only choice. That’s a very real feeling. And perhaps buying today isn’t your best move; it’s not for everyone right away. You should only buy a home when you’re ready and able, and when the timing is right for you.

But here’s some facts to ponder on, if you are considering renting.

While it may feel like a safer bet today – and in some areas it may even be less expensive on a month-to-month basis than it is owning a home – but the fact of the matter is, looking at the BIG picture … it really can cost you much more over time. In fact, a recent Bank of America survey found that 70% of aspiring homeowners worry about what long-term renting means for their future … and they are not wrong.

Owning a home for many may seem like a far reach, but if you make a plan now, and steadily work towards it, homeownership will come with some serious long-term financial benefits over time.

Homeownership Builds Wealth Over Time

While buying a home is the American Dream, your family’s safehaven, a place for you to call HOME, and plant your families roots – it’s also step toward building your future wealth …

Why, you ask? Home prices typically rise over time, which means the longer you wait, the more expensive it will be to buy. And even in some markets where home prices are softening today, the overall long-term trend speaks for itself (see graph below):

Source: Census, HUD

And as home values rise, so does your equity when you’re a homeowner. That’s the difference between what your home is worth and what you owe. So, with every mortgage payment made, your equity grows. Over time, that becomes part of your net worth.

Today, the average homeowner’s net worth is nearly 40X greater than that of a renter. That’s a shocking difference, and the dollars in the visual below don’t lie. (see graph below):

Source: Federal Reserve Board’s Survey of Consumer Finances

And it’s one of the big reasons why Forbes says:

“While renting might seem like a less stressful option . . . owning a home is still the cornerstone of the American dream and a proven strategy for building long-term wealth.”

The Biggest Downside of Renting

So, short-term, why does renting feel like a simpler choice? Lower monthly payments, less responsibility, no strings attached … right? But in the long-term, it can really hurt you.

For decades, while home prices have been rising, rents has gone up too. And while rent has held rather steady more recently, history shows the overall trend is up which makes saving for a home more complicated than ever. (see graph below):

Source: Census

That kind of financial uncertainty rising rents could affect their current and long-term finances – which once again, they are not wrong … rent does not build wealth. It doesn’t come back to you later. It pays your landlord’s mortgage – not yours.

Don’t get me wrong there will be times where renting may make sense, or perhaps may be your only option. But if you are ready and in a position to buy a home … given the choice – ask yourself this one question … “Whose mortgage would you like to pay, yours or your landlords?”

Renting vs. Buying: What Really Matters

Think of it this way … Renting means your money is gone once you pay it. Owning means your payment builds your equity. Yes, buying a home comes with responsibility. But it also comes with many rewards from a home security standpoint, and of course the financial equity gains you will enjoy while building generational wealth.

If homeownership feels out of reach for you today, feel free to reach out to me. I would be happy to have that conversation with you.

I am here and happy to help!

HIGHLIGHTING OUR LOCAL BUSINESSES

I can’t speak highly enough about Barnosky’s Carpentry/Kevin Barnosky, Owner. Kevin was recommended to me by a Home Inspector who I recommend quite often to my clients – Brian Johnson of Huntington Home Inspections – top-notch in his field. So I knew any recommendation that came from Brian, could only be the best! Well, I was right!! Kevin and his guys could not be more talented at what they do, polite and professional. Top Notch in their field, and I would not hesitate to recommend them to anyone looking for a carpenter who truly knows their business! Kevin can be reached at 860-483-0713.

If you are interested in receiving “Laura’s List Of Service Providers” – feel free to reach out to me, I would be happy to share!

Laura

The Key To Your Real Estate Success

Helping buyers & sellers achieve their real estate goals.

Lately, it seems like every headline about the housing market comes with a sense of wonder, right? Are prices going up or down? Will rates ever come down? And with all this media noise, it may leave you wondering … does it really make sense to buy a home right now?

But here’s something to ponder on … Real estate has always been about the long-term investment. And when you look at the BIG picture, not just the latest headlines, it’s easy to see why so many people say it is still the best investment you can make – yes, even now.

According to the just-released annual report from Gallup, real estate has been voted the best long-term investment for the 12th year in a row. That’s over a decade of beating out stocks, gold, and bonds as America’s top pick.

SOURCE: Gallup

And this isn’t new, news if you will … Real estate usually claims first place as being the best investment. But what’s really interesting, this year’s results came in just after a rocky April for the stock and bond markets. It shows that, even as other investments had crazy swings, real estate still held its ground. That is likely because it gains value in a steadier, more predictable way. Gallup explains …

“Amid volatility in the stock and bond markets in April, Americans’ preference for stocks as the best long-term investment has declined. Gold has gained in appeal, while real estate remains the top choice for the 12th consecutive year.”

This speaks volumes, doesn’t it? While things may feel a bit uncertain in today’s economy, it’s clear that real estate can still be a powerful investment.

Yes, home values are rising at a more moderate pace than was in recent years past. And in some markets, prices may even show flat in the year ahead or even dip a little – but that’s just the short-term view. Don’t let that cloud the bigger picture.

Real estate has a long track record of gaining value over time. That’s the kind of growth you can count on, especially if you plan to live in that home for a long time.

That’s part of why we continue to buy-in to homeownership … to live the American dream – even when the headlines may sound a little uncertain. As Sam Williamson, Senior Economist at First American, says:

“A home is more than just a place to live—it’s often a family’s most valuable financial asset and a cornerstone to building long-term wealth.”

Remember, real estate is not about overnight gains. It’s about long-term gains. So, don’t let the uncertainty of a shifting market make you think it’s a bad time to buy.

Here’s our May Market Overview, giving you a snapshot as to where we are in today’s market.

If you are unclear if buying or selling a home right now is the best move for you – feel free to contact me to discuss your wants/needs and goals. I am here and happy to help!

HIGHLIGHTING OUR LOCAL BUSINESSES

If you are ever in need of a septic pump out and/or repair – Westconn Septic Service LLC is the service company to call. Family-owned business, top notch customer service, whose reputation is known as one of the best in the industry throughout our community. Tony Gammardella owner/operator and his wife Becky, who is behind the scenes, running the show … truly the best!

If you are interested in receiving “Laura’s List Of Service Providers” – feel free to reach out to me, I would be happy to share!

Laura

The Key To Your Real Estate Success

Helping buyers & sellers achieve their real estate goals.

In the last issue of Insights, we talked about the importance of being a “ready” buyer… speaking primarily to the buyer to highlight the importance of positioning themselves to really compete in our current market. Here we will touch on it from a seller’s perspective. Different mindset as a seller but being “ready” is a common thread. Let’s break it down …

If you have already made up your mind that “now” is the time to sell your home … great! First things first, though you’ll want to get your ducks in a row 😊 In short … you want to make sure that your home will be show ready to outshine your competition – and then first and foremost, you will want to position your home correctly in the market from a “list price” perspective to get those buyers excited to see your home and then excited enough to want to make that offer. How do you accomplish this you ask? You first need to consult with an experienced professional REALTOR®, who can advise you of all the important steps you should take to get your home show ready and then equip you with the information you need to position your home on the market at a price that will gain you the most traffic to ultimately net you the most value from your home.

But let me just take it on the flip side and highlight why if you happen to be on the fence about selling, I’d like to shed some light and give a little perspective as to why it might just be a good idea to be ready now! But might I also just say this …sometimes, regardless of the market gains you may reap putting your home on the market now – now, just may not be the right time for “you.” That is why speaking to an experienced REALTOR® to talk through your own wants, needs and real estate goals, is a good first step to knowing when and how is the best time for you to put your home on the market. Talk about going around the block 😅 LOL.

The following is just a brief excerpt shedding light on the state of our real estate market from our own Chairman and CEO, Paul Breunich – “The ongoing supply and demand imbalance has created a dynamic where more buyers are competing for fewer properties, inciting bidding wars and sending prices higher. Sellers are still enjoying market conditions where they can maximize the value of their properties, and we encourage those still weighing whether to list to take advantage of this market while they can.”

Yes, we are still seeing multiple offers in our local market – providing a home is priced correctly and has no major objections to combat – there is a great likelihood the seller will receive multiple offers on the property, and in most cases, the contract they receive will go over what the actual list price was– and in some cases way over. I just recently closed on a home – we believed whole heartedly, was priced well for the market. And lo and behold – in the first 5 days of being on the market, we received 27, yes, 27 offers and settled at a price $75,000 over the list price. Now that is the market speaking to you! You can only imagine how happy my seller was! This is good news for sellers, as supply & demand” or lack thereof – is what’s keeping home prices stable, and in many areas have shown an increase in value. This factor alone, is the driving force that is keeping it still a seller’s market.

Good insight, right? Ok, now couple that with the equity gains you have already built into your home over the last 4-5 years, and beyond. It might be a little eye-opening to know where your home value sits in today’s current real estate market.

There are some sellers who may be “waiting” for interest rates to come down before they put their home on the market, for it to make sense for them to “make their move,” given the fact that for many, their current interest rates are much lower than where they are today. With that in mind, I would certainly advise sellers to look at the BIG picture. What is the motivation for their move? Are they retiring, downsizing, getting married/divorced, moving closer to family? There are many life events that would make home sellers want to sell their home. Having those conversations on what those goals are and how to achieve them is all a part of the process, to put perspective on whether it makes sense to “wait” or not, in the grand scheme of things.

The point I am trying to drive home, which I am sure you are hearing loud and clear is, it is a seller’s market, no doubt. The equity gains you can enjoy right now if you are ready to sell, is the best it’s ever been – if, and I stress if, it makes sense for you, given your specific wants needs and goals.

So, I ask … are you ready to get in the market? If the answer is yes, here are a few of things to consider as you are planning your market strategy, working alongside and with the guidance of a experienced professional REALTOR® of course.

First impressions matter …

Have a “To Do List” – and prioritize what you will need to do prior to placing your home on the market will be key. Decluttering is TOP on the list. Fix any minor repairs that you may have been putting off and/or needed, perhaps some painting may be in order … a can of paint can go a long way at making your home shine bright! And when all is said and done … do a deep clean – hire a service if it is in your budget. The money spent, in many cases, may just be well worth it. Perhaps staging your home may be in order … there are varying degrees of staging from just taking down family photos and personal items – to furniture placement, and then adding some accessories to give your home that extra sense of home. If it makes sense, and if the budget allows, you may want to consider, more extensive staging. You want the buyer to imagine themselves living in the home – not looking at “who lives in the home.” Looking at it from on online perspective … that truly is your “first showing, right?” Realtors now have access to virtual staging as well, which does and can work well. These are all things you will want to discuss with your REALTOR® prior to placing your home on the market to see what if anything he/she feels necessary to do to gain the most value in your home sale.

Lastly, look at your home through a buyer’s eyes to see what they will see – starting at the front door. Curb appeal matters – if your home appears well kept and welcoming as the buyers do their “drive-by” and they do … there’s a good chance they will want to schedule a showing with their REALTOR® to see what the home has to offer on the inside. For more information, tips, and strategies – feel free to contact me. I am here and happy to help!

Highlighting Our Local Businesses

A BIG shout out to Matt Giglio, co-owner of G&G Home Solutions. In my business, it is so important to have on hand recommendations for local service providers to assist my clients whether they are selling or buying a home. I have recommended G&G Home Solutions to my seller clients – to assist them in getting their home ready for sale. I cannot speak highly enough about their service. They are very professional, reliable, and always going above what is expected. My clients have been so impressed with Matt, his crew, and their service – I am sure they will forever be their raving fans!

If you are interested in receiving “Laura’s List Of Service Providers” – feel free to reach out to me, I would be happy to share!

Laura

The Key To Your Real Estate Success

Helping buyers & sellers achieve their real estate goals.

Spring is here, and as we have all known it to be in years past … the busiest of season in real estate. So, if you are looking to buy or sell a home right now, here’s my advice to you …. Get ready!

Let’s look at where we are in the world of real estate, specifically as it pertains to our local market. If you are a buyer currently looking to secure a home in this market, you are very well aware of how competitive it is. “The ongoing supply and demand imbalance has created a dynamic where more buyers are competing

for fewer properties, inciting bidding wars and sending prices higher. Sellers are still enjoying market conditions where they can maximize the value of their properties, and we encourage those still weighing whether to list to take advantage of this market while they can.” states Paul Bruenich, in our First Quarter Market Watch.

Yes, we are still seeing multiple offers in our market – if a home is price correctly, with no major objections – there is a great likelihood the seller will receive multiple offers. Good news for sellers, as supply & demand” or lack thereof – is what is keeping home prices stable, and in many areas have shown an increase in value. This factor alone is the driving force that is keeping it still a seller’s market.

Having said that, there some sellers who may be “waiting” for interest rates to come down before they put their home on the market, in order for it to make sense for them to “make their move,” given the fact that for many, their current interest rates are much lower than where they are today. With that in mind, I would certainly advise sellers to look at the BIG picture. What is the motivation for their move? Are they retiring, downsizing, getting married/divorced, moving closer to family? There are many life events that would make home sellers want to sell their home. Having those conversations on what those goals are and how to achieve them is all a part of the process, to put perspective on whether it makes sense to “wait” or not, in the grand scheme of things.

The point of this writing is not to speak to doom and gloom to buyers, because that is so not me. But rather speak to – this is where we are, so how can you as a buyer best position yourself in the market in getting your offer accepted, or as a seller managing both the sale/buy of their home. That’s where I come in … as I council my buyer clients at first meet, and beyond, my best advice to them is always … if you are looking to secure a home in this competitive market you need to have a plan, and “be ready” to make as strong as offer as you can, in hopes that your offer will stand out from all the rest. And when I say “be ready” – I mean, first and foremost – you need to get your finances in order in preparation of your mortgage loan application, so you have a sense of what you would be approved for in way of a home mortgage. Then you can focus on your home search that is within the price point you are comfortable with. Then, once you you are pre-approved/approved by a reputable lender, you will be “ready” to make that offer. If you have been shopping around for a while, make sure your approval or pre-approval letter is current in hand to submit with your offer. I will say having an “approval” letter gives you your best shot at competing against all those other buyers. Having an “approval” letter makes you as close to being a “cash” buyer, without having the cash in the bank if you will. Having an approval letter means, you as a buyer have already gone through the mortgage underwriting process – so the only thing left to do is to attach a property to that approval, appraisal, and clear title. There is no worry to the seller about the buyer not being approved for their mortgage, since they have already been “approved.” Not all banks offer this type of approval, but they are becoming a bit more common to give buyers an upper hand in this competitive market.

Having said all that, might I also preface it by saying … having an experienced “Buyers Agent” who knows how to use best practices and strategies to present and negotiate their clients offer to sellers’ acceptance, is just another important key factor in buyer representation.

Just a snapshot of the mortgage application/approval process …

Pre-Approval

Pre-approval gives you a sense of how much a lender is willing allow you to borrow for your home loan. To determine that number, you will need to complete an application so that the lender can look at your financial history. Below are some of the things they look at, that can have an impact, according on your credit worthiness.

• Your debt-to-income (DTI) ratio: This is how much money you owe divided by how much money you make. Usually, you can borrow more if you have a lower DTI.

• Your income and employment status: Lenders are looking to verify you have a steady stream of income coming in, so they feel confident in your ability to repay the loan.

• Your credit score: If your score is higher, you may qualify to borrow more – but that doesn’t mean you have to borrow more. “Go with you own comfort when it comes to your monthly mortgage payment. You don’t want to be house rich, cash poor.”

• Your payment history: Do you consistently pay your bills on time? Lenders want to know you’re not a risky borrower.

Approval

Approval – is everything above and more. Getting a loan approval takes it a step further. After completing all the above steps, your file goes through underwriting for their review and approval. That is usually the “last step” before you get your clear to close on the property. The only difference here is that you have not chosen a property yet to attach the loan to. So having this “Approval “letter attached to your offer tells sellers – you are a ready and able buyer – (in essence – cash in hand) and can close quickly. So, you can see how much more viable a buyer you are in having an “approval vs. a pre-approval” when it comes to a seller reviewing offers (should there be multiple) – yours vs another buyer who still has to go through the entire process in hopes of getting their loan approved. I don’t know about you – but as a seller, I would give serious consideration to the buyer who has been through the process and has their approval already in hand!

After the lender reviews your application, you will get a pre-approval letter showing how much you can borrow in way of a home loan. Having this peace of mind alone is a big deal – it helps you feel a lot more confident in your ability to get a home loan, and it also helps you and your REALTOR® narrow down your home search that will be within your budget.

One last tip your lender will share with you, I’m sure … after you have received your pre-approval and or approval letter, he/she will advise you to avoid switching jobs, applying for new credit cards or other loans, co-signing for loans, or moving money in or out of your savings, as any changes to your finances can affect your approval status.

It has been a bit challenging for buyers no doubt, and spring market will certainly not make it any easier. Get ready and be prepared to put your best foot forward towards homeownership. It is a competitive season, and emotions can run high if you find yourself up against other buyers. Knowing your budget and having a REALTOR® who knows their market, and the experience to help guide you through the process will be your key to real estate success.

Reach out to me if you are just at the beginning process of your home search. I can connect you with a reputable lender who will guide you through the process and get you on the fast and right track towards home ownership.

Next issue of Insights will speak more to why being “ready” as a seller this spring market is so important. Stay tuned …

In case you missed it … First Quarter Market Watch

Laura

The Key To Your Real Estate Success

Helping buyers & sellers achieve their real estate goals.

t’s no secret … It is still a seller’s market, with supply and demand still being the driving force. That’s not to say, that sellers are not selling, because they most certainly are. It is just that in many cases, once the house goes on the market, if priced appropriately, (know your competition) – a flurry of buyer activity happens, and BAM – the house is under contract, with multiple offers/back-ups offers on the sidelines should the first offer not work out for one reason or another. But let’s be clear, the scenario I just stated does not hold true for every home that hits the market – as to achieve this, a home needs to be priced appropriately (the key) given its offerings and/or it’s objections whatever they may be. And then of course, the exposure the home receives once placed on the market. These two strategies work hand and hand, along with the experience and knowledge of the market the real estate advisor brings, is what will ultimately gain you the most value for your home. Having said that, supply and demand as I mentioned earlier, will certainly play a role to the benefit of the seller, no matter. The job of a real estate professional, when advising sellers, is to know their market, discuss pricing strategy with the seller, and then expose the property out to the world through all their marketing efforts. Having said that, it is important to note, that no amount of marketing will bring an over-priced home the buyer activity necessary, to gain the value the home deserves. In fact, over-pricing a home will work against the seller.

What I hear from some sellers is, “Let’s price the home a little higher, so we have some room to negotiate,” – if you price a home appropriately, there is little to no negotiations needed in most cases. Or, they think it will increase their profit somehow, but the reality is, it is not a good strategy.

Rule of thumb in real estate …. The value of a home is not determined by “what a seller wants for the property, it is not how much money they spent in upgrades for the property – although it will add value, just not dollar for dollar value. And lastly, it is not what the seller paid for the property – although right now that is not a problem for the seller. Most sellers have an enormous amount of equity in their home, that they may not even realize. And that is where I come in … should you want to know what your home’s value is in today’s market. I would be happy to prepare a more comprehensive market analysis for you, even if you are not looking to sell. We will just call it a “Real Estate Review” – complimentary of course.

The net result of over-pricing a home, Realtor.com says is that almost 20% of sellers — that’s one in five — find they need to reduce their price to get their house sold. You don’t want to be that “one.” Here’s why starting too high can lead to trouble, and how to avoid it …

Overpricing your home, pushes buyers away …

With where mortgage rates and home prices are right now, buyers are already stretching their budgets to make a move. So, when they see a house that’s priced too high, they’re not thinking, “I can negotiate.” They’re more likely going to think, “next” and skip over your house entirely.

The strategy when pricing a home is to get as many qualified buyers as possible in to see your home, to get them excited, to potentially make that offer. Chances are, your home doesn’t even make their list, which ultimately does not give them the opportunity to make an offer. Also, if you price the home too high, you are not getting the right buyers in there to consider making an offer, as the home does not match their expectations.

Understand, when a home sits on the market for any period of time, especially in this market – there is a certain amount of skepticism as to “why is the house been on the market so long?” An overpriced house tends to sit on the market longer. And the longer a house sits on the market, the more buyers start to wonder what’s wrong with it. Is there a problem with the house itself? Are the sellers difficult to work with? Even if the only issue is the price, that extra time does create wonder …

Setting an unrealistic high price for the home with the idea that you can come down on price later doesn’t work in the seller’s best interest. A home that is overpriced from the start tends to stay on the market longer, even after the price is cut, because buyers think there must be something wrong with it.” Not to mention, and most importantly – when we introduce your home to the market on “day one” – this is when your home gets the “most exposure” – which is why it is key to price it right from the beginning.

Fast forward … after sitting on the market for some time, if you are serious about selling your home, you will have no choice but to lower your price to capture some interest. But that price reduction comes at cost, literally … buyers may see it as some other issue with the home, which creates uncertainty, or perhaps they may look at it as an opportunity to purchase the home for a steal. OK, enough said! I think you’ve gotten my point, right … LOL

In conclusion …

What’s the secret to avoiding all these headaches? It’s simple … just give me a call! As a Real Estate Advisor, I do my best to give the best council, so sellers have the best advantages in the market that will help them to achieve the best price and terms to achieve their real estate goals. Knowing our local market well, I will give you honest and straightforward market information so you can see and feel it for yourself …which allows you to make your best decisions moving forward. The one thing I would advise you not to do, is partner with an agent who will list your home at whatever price you may throw out there, if it doesn’t match up with the “fair market value range” determined by their analysis. That is not a real estate professional who has your best interest in mind, or one who will net you the best results on your home sale. You want a local real estate advisor who recommends a price based on their own local knowledge and expertise, using real-time data to determine your range to value when pricing your home.

Laura

The Key To Your Real Estate Success

Helping buyers & sellers achieve their real estate goals.