Jun 7, 2023
2301-2331 Hardee St Rockport, TX 78382
May 18, 2023
Real Estate This & That with Neli Spurrell
May 3, 2023
Happy May, friends!
Summer is almost here, and things are heating up! It's clear that the season of outdoor activities and events is upon us in Rockport, TX.
With so many exciting things happening in our community this May, I wanted to take a moment to share some highlights with you
Let's recognize some Amazing Moms this month! We are posting signs in the yards of some great mothers so everyone will know we think they are awesome. Read the article below to see how you can give us a hand and give one lucky mom a special treat at the end of May.
As always, if you have any questions about these events or anything related to the local real estate market, please don't hesitate to reach out to me. I'm here to help make your experience in Rockport as enjoyable as possible.
If you would like to be in your VIP newsletter and events list, sign up texting 361-727-LIST(5478) the word "NEWSLETTER".
Have a wonderful month, and to all moms, Happy Mother's Day in advance!
Apr 17, 2023
Think Twice Before Waiting for Lower Home Prices
As the housing market continues to change, you may be wondering where it’ll go from here. One factor you’re probably thinking about is home prices, which have come down a bit since they peaked last June. And you’ve likely heard something in the news or on social media about a price crash on the horizon. As a result, you may be holding off on buying a home until prices drop significantly. But that’s not the best strategy.
A recent survey from Zonda shows 53% of millennials are still renting right now because they’re waiting for home prices to come down. But here’s the thing: the most recent data shows that home prices appear to have bottomed out and are now on the rise again. Selma Hepp, Chief Economist at CoreLogic, reports:
“U.S. home prices rose by 0.8% in February . . . indicating that prices in most markets have already bottomed out.”
And the latest data from Black Knight shows the same shift. The graph below compares home price trends in November to those in February:
So, should you keep waiting to buy a home until prices come down? If you factor in what the experts are saying, you probably shouldn’t. The data shows prices are increasing in much of the country, not decreasing. And the latest data from the Home Price Expectation Survey indicates that experts project home prices will rise steadily and return to more normal levels of appreciation after 2023. The best way to understand what home values are doing in your area is to work with a local real estate professional who can give you the latest insights and expert advice.
If you’re waiting to buy a home until prices come down, you may want to reconsider. Let’s connect to make sure you understand what’s happening in our local housing market.
Apr 11, 2023
Two Reasons You Should Sell Your House
Two Reasons You Should Sell Your House
Wondering if you should sell your house this year? As you make your decision, think about what’s motivating you to consider moving. A recent survey from realtor.com asked why homeowners are thinking about selling their houses this year. Here are the top two reasons (see graphic below):
1. I Want To Take Advantage of the Current Market and Make a Profit
When you decide to sell your house, how much you’ll make from
“The $112,000 profit on median-priced home sales in 2022
Even though home prices have declined slightly in some markets,
2. My Home No Longer Meets My Needs
The average person has been in their house for ten years.
If you’re thinking about selling your house, there’s probably a
Mar 7, 2023
Could a Multigenerational Home Be the Right Fit for You?
During the pandemic, many of us reexamined the meaning of home for ourselves and our loved ones. Today, that can be seen in the recent rise in multigenerational households. According to Jessica Lautz, Deputy Chief Economist and Vice President of Economic Research at the National Association of Realtors (NAR):
“Multi-generational buying may be a home where families live in the same home with elderly parents, children who have boomeranged back home, or other extended family members. While this is not a new concept of living, it is one which has gained recent popularity.”
And citing data from Pew Research Center, the Wall Street Journal (WSJ) says:
“. . . multigenerational living has made a comeback in recent years, particularly after the 2008 financial crisis and during the pandemic.”
So, if buying a multigenerational home has crossed your mind, you aren’t alone. Depending on what stage of homeownership you’re in, there are different reasons it could be the right fit. The chart below shows responses to a recent survey from NAR about the reasons people have bought a multigenerational home:
Whether your motives are financial or focused on the people you’ll share your home with, a multigenerational home has distinct advantages. It can make homeownership more affordable, and it can help you best support your loved ones. As Lautz explains:
“Multi-generational home buying is a way for families to care for one another, support one another, and often buy a home that may have been previously out of reach. . . . The trend of multigenerational buying appears to be firmly established and one that could expand in the future.”
If you’re ready to buy a house, consider the opportunities of a multigenerational home. Let’s connect so you can explore your options in our area.
Feb 6, 2023
The Top Reasons for Selling Your House
Today, 93% of outstanding mortgages have a rate at or below 6%. That means a strong majority of homeowners with mortgages have a rate below what they’d get if they moved right now. But if you’re a homeowner in that position, remember that mortgage rates aren’t the only thing to consider when making a move. Your mortgage rate is important, but there are plenty of reasons you may still need or want to move. RealTrends explains:
“Sellers who don’t have to move won’t be moving. The most common sellers will be: Homeowners downsizing . . . people moving to get more space, [households] looking for better schools…etc.”
So, if you’re on the fence about selling your house, consider the other reasons homeowners are choosing to make a move. A recent report from the National Association of Realtors (NAR) breaks down why homeowners have decided to sell over the past year:
The Top Reasons for Selling Your House | Simplifying The Market
As the visual shows, the most commonly cited reasons for selling were the desire to move closer to loved ones, followed by moving due to retirement, and their neighborhood becoming less desirable. Additionally, the need for more space factored in, as did a change in household structure.
If you also find yourself wanting a change in location or needing space your current house just can’t provide, it may be time to sell.
What you want and need in a home can be reason enough to move. To find out what’s right for you, work with a trusted real estate professional who will offer advice and expert guidance throughout the process. They’ll be able to lay out all your options – giving you what you need to make a confident decision.
When deciding whether or not to move, you have a lot to consider. There are plenty of non-financial reasons to factor in. Connect with a local real estate professional who can help you weigh the benefits of selling your house.
Jan 11, 2023
Today’s Housing Market Is Nothing Like 15 Years Ago
There’s no doubt today’s housing market is very different than the frenzied one from the past couple of years. In the second half of 2022, there was a dramatic shift in real estate, and it caused many people to make comparisons to the 2008 housing crisis.
In the latest Real Estate Forecast Summit, Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), drew the comparisons below between today’s housing market and the previous cycle: Read more https://bit.ly/3GVTINt
Contact me to discuss the current market.
2301-2331 Hardee St Rockport, TX 78382
Property Site: https://tour.corelistingmachine.com/home/L4LDT7/2301-2331-Hardee-St-Rockport-TX-139839 This Rockport lot i...