Tricia Madrid - Texas Elite Team Realtors

  Spring Cleaning Checklist for Sellers  Some Highlights If you’re thinking about selling your house this  spring , here are some things you’ll want to tackle  before you list . Spend your time on tasks that make it feel inviting, show it’s cared for, and boost your curb appeal. To determine the full list of things you’ll want to tackle for your home, you need the opinion of a  trusted expert . Let’s connect to help make sure your house shows well this season.

Did Your Dream Home Just Come on the Market? For the first time in a long time, the number of newly listed homes is beginning to rise. In their latest  monthly release ,  realtor.com  reveals the number of existing homes entering the market has increased for two months in a row (this comes after six months of declines). Here’s a graph showing the monthly new listings going back to January of last year. The green bars indicate the first gains since June. However, buying demand is still outpacing housing supply. Though the increase in homes coming to the market is great news for prospective homebuyers, the number of buyers is still outpacing the number of homes available for sale. As  realtor.com  explains in their  latest report : “During the final two weeks of the month,  more new sellers entered the market than during the same time last year . . . . However, with 5.8 million new homes missing from the market and millions of millennials at first-time b...

  Are You Wondering if This Is the Year To Buy a Home? Every year, many renters ask themselves the same question:  Should I continue  renting , or is it time to  buy a home ?  If you’re a renter, chances are you’ve asked yourself that question at least once, and it’s likely because you’ve faced an increase in your monthly housing costs over time. After all, according to  Census  data, rents have risen consistently for decades. To make an informed and powerful decision, the first step is understanding what’s happening in today’s housing market so you can determine which option is the better long-term  financial decision  for you. Rents Are Going Up Again This Year Rents are skyrocketing right now.  Data  from  realtor.com  shows just how much rental prices are surging throughout the country. The graph below highlights rental unit price increases over the past year: If you’re a renter and plan on signing a new lease, your mo...

Don’t Get Caught Off Guard by Closing Costs As a homebuyer, it’s important to plan and budget for the expenses you’ll encounter when you purchase a home. While most people understand the need to save for a  down payment , a recent  survey  found 41% of homebuyers were surprised by their closing costs. Here’s some information to help you get started so you’re not caught off guard when it’s time to close on your home. What Are Closing Costs? One possible reason some people are surprised by closing costs may be because they don’t know what they are or what they cover. According to  U.S. News and World Report : “Closing costs encompass a variety of expenses above your property's purchase price. They include things like lender fees, title insurance, government processing fees, upfront tax payments and homeowners insurance.” In other words, your closing costs are a collection of fees and payments made to a variety of individuals and organizations who are involved with your...

  This Spring Presents Sellers with a Golden Opportunity If you’re thinking of  selling your house  this year, timing is crucial. After all, you’ll want to balance getting the most out of the sale of your current home and making the  best investment  when you buy your next one. If that’s the case, you should know – you may be able to get the best of both worlds today.  Here are four reasons why this spring may be your golden window of opportunity. 1. The Number of Homes on the Market Is Still Low Today’s  limited supply  of houses for sale is putting sellers in the driver’s seat. There are far  more buyers  in the market today than there are  homes available .  That means purchasers are eagerly waiting for your house. Listing your house now makes it the center of attention. And if you work with a real estate professional to price your house correctly, you can expect it to sell quickly and likely get multiple strong offers...

Key Terms for Homebuyers  Some Highlights Knowing key  housing terms  and how they relate to today’s market is important. For example, when  mortgage rates  and  home prices  rise, it impacts how much home you can afford. Terms  like  appraisal  (what lenders rely on to validate a home’s value) and the  inspection contingency  (which gives buyers essential information on a home’s condition) directly impact the transaction. Buying a home can be intimidating if you’re not familiar with the  terms  used throughout the process. Let’s connect so you have an expert guide and advice for any questions that may come up.

How To Navigate a Market Where Multiple Offers Is the New Normal If you’re thinking of  buying a home  today, you already know that the number of homes available for sale is low. But what does that really mean for you? As a buyer,  low housing supply  coupled with high buyer demand means you should be prepared to navigate a highly  competitive market  where homes sell fast and get multiple offers.  Realtor.com  has this to  say : “Homes also flew off the market at record pace as buyers put offers in the moment properties came up for sale….” In a bidding war situation like this, doing everything you can to get ahead of the competition is a wise move. That’s because when you find a house and submit an offer, it’ll likely be up against strong offers from other buyers. According to the latest  Realtors   Confidence Index  from the  National Association of Realtors  (NAR), homes today are receiving an average of 3.9 offers...