Don’t Let These Two Concerns Hold You Back from Selling Your House

by Michael Cummiskey

### Ready to Sell Your Home? Here’s What You Need to Know

If you’re considering selling your home in **Greater Cincinnati, Northern Kentucky, or Southeast Indiana**, you might feel uncertain about whether now is the right time. Questions like, *”Is moving a good idea in today’s market?”* or *”Will I find a home I love?”* can weigh heavily on your decision-making process. Let’s tackle these concerns head-on and provide clarity.

—

### **Is It a Good Idea to Move Right Now?**

If you already own a home, you might hesitate to sell because of rising mortgage rates. However, your decision to move could be more achievable than you think, thanks to your **home equity**.

Equity is the difference between your home’s current market value and what you owe on your mortgage. Over the past few years, home prices have appreciated significantly, boosting your equity. How much are we talking about? Dr. Selma Hepp, Chief Economist at CoreLogic, shares:

> *“Persistent home price growth has continued to fuel home equity gains for existing homeowners who now average about $315,000 in equity and almost $129,000 more than at the onset of the pandemic.”*

Here’s why this matters:
– Your equity can provide a substantial down payment on your next home.
– It may reduce the amount you need to finance, even at today’s rates.
– In some cases, you might even purchase your next home in cash, avoiding mortgage rates altogether.

**Bottom Line:** Your equity could be the key to confidently moving forward.

—

### **Will I Be Able to Find a Home I Love?**

If you’re worried about finding a home you like, it’s likely because you remember the tight inventory of the past few years. But today, the landscape is shifting.

The number of **homes for sale** has grown, giving you more options. According to data from Realtor.com, inventory has increased nearly 30% year-over-year. While inventory is still below pre-pandemic levels, it’s higher than it’s been in recent years, creating a sweet spot for both buyers and sellers.

That said, local market conditions vary. For the best insights, work with a trusted real estate agent who understands trends in **Greater Cincinnati, Northern Kentucky, and Southeast Indiana**.

a graph of a number of numbers

Don’t Let These Two Concerns Hold You Back from Selling Your House—

### **Why Work With a Local Real Estate Agent?**

Navigating the real estate market—whether you’re buying or selling—requires up-to-date data and personalized insights. A local agent can provide:
– Market trends specific to your area.
– Guidance on pricing your home to stand out.
– Strategies to find the right home for your needs.

—

**Thinking of selling your home or searching for homes for sale?** Don’t let uncertainty hold you back. Contact a local real estate expert today to turn your goals into reality.

Hire A Professional • Luxury Homes • Money Talk • Selling Your Home • November 18, 2024

Should You Sell Your House or Rent It Out?

by Michael Cummiskey

**What Should You Do with Your Home? Sell or Rent?**

When you’re ready to move, deciding what to do with your current home is a critical decision. Increasingly, homeowners in **Greater Cincinnati**, **Northern Kentucky**, and **Southeast Indiana** are considering renting out their properties instead of selling.

According to recent data from Zillow, about two-thirds (66%) of sellers thought about renting their homes before listing them, with nearly a third (28%) seriously considering it. This trend has grown significantly since 2021 when less than half (47%) of homeowners considered renting before selling.

So, should you sell your house and use the proceeds toward your next home, or keep it as a rental property to build long-term wealth? Let’s explore some key considerations to help you determine the best path for your financial and lifestyle goals.

### Is Your House a Good Fit for Renting?
Before choosing to rent or sell, evaluate if your property is suitable as a rental. Key considerations include:
– **Location:** Is your neighborhood ideal for rental properties?
– **Condition:** Does the house require significant repairs before it’s tenant-ready?
– **Logistics:** If you’re moving far away, managing maintenance remotely could be challenging.

If your home isn’t ideal for renting, listing it as one of the many **homes for sale** in **Greater Cincinnati**, **Northern Kentucky**, or **Southeast Indiana** may be a more practical option.

### Are You Prepared to Be a Landlord?
Becoming a landlord involves more than collecting monthly rent. It can be time-consuming and demanding.
– **Maintenance:** Landlords must handle repairs like broken pipes, HVAC issues, and structural damage promptly.
– **Tenant Issues:** There’s always the risk of late payments, lease violations, or even property damage.
– **Financial Reserves:** As Redfin notes, unexpected repairs can cost thousands. If you’re not prepared financially, renting might not be the best option.

### Do You Understand the Costs?
If you’re renting out your home primarily for passive income, be sure to account for additional expenses, including:
– **Mortgage and Property Taxes:** These remain your responsibility, even if rent doesn’t cover all costs.
– **Insurance:** Landlord insurance costs about 25% more than standard home insurance.
– **Maintenance and Repairs:** Budget at least 1% of the home’s value annually for upkeep, potentially more for older homes.
– **Tenant Search Costs:** Advertising and background checks require time and money.
– **Vacancies:** Empty periods between tenants can lead to income loss while you still cover the mortgage.
– **Property Management Fees:** A property manager typically charges about 10% of monthly rent.

### Bottom Line
Choosing whether to **sell your house** or rent it out is a deeply personal decision. Weigh the pros and cons carefully, and don’t hesitate to consult with real estate professionals.

A knowledgeable agent specializing in **homes for sale** and the local real estate markets of **Greater Cincinnati**, **Northern Kentucky**, and **Southeast Indiana** can guide you through your options. Whether you’re looking to **sell your house** or explore the rental market, professional advice ensures you make a well-informed decision that aligns with your goals.

Hire A Professional • Home Buyers • Money Talk • November 18, 2024

More Homes, Slower Price Growth – What It Means for You as a Buyer

by Michael Cummiskey

**More Homes for Sale: What This Means for You in Greater Cincinnati, Northern Kentucky, and Southeast Indiana**

If you’re considering buying or selling real estate, now might be the perfect time. The number of *homes for sale* has risen significantly, offering unique opportunities for buyers and sellers alike. Let’s explore two key reasons why this is a game changer for the housing market in *Greater Cincinnati, Northern Kentucky, and Southeast Indiana*.

—

### **1. More Options to Choose From**

An article from Realtor.com highlights just how much the inventory of homes has grown:

> “There were 29.2% more homes actively for sale on a typical day in October compared with the same time in 2023, marking the twelfth consecutive month of annual inventory growth and the highest count since December 2019.”

While inventory hasn’t fully returned to pre-pandemic levels, the increase in available homes is significant (see graph below).

a graph of a number of homes

As Hannah Jones, Senior Economic Research Analyst at Realtor.com, puts it:

> “Though still lower than pre-pandemic, burgeoning home supply means buyers have more options . . .”

For buyers, this translates to a better chance of finding a house that meets your needs without feeling rushed. With more options and less competition, it’s an excellent time to explore *homes for sale*.

—

### **2. Slowing Home Price Growth**

Fewer bidding wars and increasing inventory are helping to slow the rapid rise in home prices. A larger selection of properties means buyers are no longer forced to compete as fiercely, which has a cooling effect on prices (see graph below).

a graph of green and blue lines

In some areas, inventory levels have not only rebounded to pre-pandemic numbers but have even exceeded them. In these markets, home price growth has softened or, in some cases, stalled altogether. Lance Lambert, Co-Founder of ResiClub, notes:

> “Generally speaking, housing markets where active inventory has returned to pre-pandemic 2019 levels have seen home price growth soften or even decline outright from their 2022 peak.”

This slower growth creates opportunities for buyers to find a home that fits their budget. Dr. Anju Vajja, Deputy Director at the Federal Housing Finance Agency (FHFA), adds:

> “For the third consecutive month, U.S. house prices showed little movement . . . relatively flat house prices may improve housing affordability.”

—

### **Why Work With a Local Real Estate Expert?**

While these trends are promising, inventory levels and prices can vary significantly by market. Having a local real estate agent who understands the nuances of the *Greater Cincinnati, Northern Kentucky, and Southeast Indiana* markets is essential. They can provide personalized guidance to help you navigate this dynamic market, whether you’re looking to buy your dream home or wondering, “How can I *sell my house* quickly and efficiently?”

—

### **Bottom Line**

The growing number of *homes for sale* and slower price growth offer exciting possibilities for both buyers and sellers. If you’re ready to make a move, contact a trusted real estate professional to discuss your options. Whether you’re in *Greater Cincinnati, Northern Kentucky, or Southeast Indiana*, now’s the time to take advantage of this evolving market.

**Let’s make your real estate journey a success!**

Hire A Professional • Home Buyers • Money Talk • November 17, 2024

The Big Difference Between Renter and Homeowner Net Worth

by Michael Cummiskey

Some Highlights

If you’re torn between renting or buying, don’t forget to factor in the wealth-building power of homeownership.
Unlike renters, homeowners gain equity as they pay their mortgage and as home values rise. That’s why, on average, a homeowner’s net worth is nearly 40x higher than a renter’s.
Connect with an agent if you want to learn more about the financial benefits of homeownership or the programs that can help make buying possible.

Hire A Professional • Home Buyers • Money Talk • Selling Your Home • November 16, 2024

What’s Motivating Homeowners To Move Right Now

by Michael Cummiskey

### Ready to Move? Here’s Why Many Homeowners Are Deciding to Sell

Over the past few years, many homeowners in Greater Cincinnati, Northern Kentucky, and Southeast Indiana have hesitated to sell their homes. Why? They’re reluctant to take on a higher mortgage rate when purchasing their next home. If you’re in this situation, you’re not alone—this challenge has contributed to the low inventory of **homes for sale** across the real estate market.

However, a growing number of homeowners are realizing they can’t wait any longer. Personal or lifestyle changes often make it necessary to move, despite market conditions. As Redfin explains:
*”Some homeowners are opting to bite the bullet and give up their low rate in order to move. Many are selling because of a major life event like a job change, or divorce . . .”*

If you’re considering selling your house, here are some common reasons why others are making the move. These might resonate with you, too.

—

### Top Reasons Homeowners Are Choosing to Sell

#### 1. **It’s Time for a Change**
Life changes—such as a new job in a different city, a desire to be closer to family, or simply seeking a fresh start—often prompt homeowners to list their homes.

If you’ve landed a great job offer in another area, selling your home and relocating may be the next logical step.

#### 2. **Your Current Home No Longer Fits**
When your lifestyle changes, your home might not meet your needs anymore. Whether it’s a growing family, the need for a home office, or more space for entertaining, upgrading to a larger home might be the best move.

For instance, if you’re living in a condo and expecting a baby, it could be time to find a home with more space.

#### 3. **Retirement or Downsizing**
Some homeowners in Greater Cincinnati, Northern Kentucky, and Southeast Indiana are ready to downsize. Whether it’s due to retirement, empty-nest living, or the desire for less maintenance, selling your current home can free up time and resources for this exciting new chapter.

#### 4. **Changes in Relationship Status**
Life events like marriage, divorce, or separation often necessitate a move. Selling your home can help both parties start fresh with new living arrangements that better fit their needs.

#### 5. **Health and Mobility Concerns**
As health or mobility needs change, some homes may no longer be practical. Selling and moving to a more accessible home—or using proceeds to transition to assisted living—can significantly enhance your quality of life.

—

### What’s Your Next Step?

Selling a home isn’t just about **real estate market conditions** or mortgage rates. It’s about making a decision that aligns with your personal goals and lifestyle needs. As Bankrate puts it:

*”Deciding whether it’s the right time to sell your home is a very personal choice. There are numerous important questions to consider, both financial and lifestyle-based . . . Your future plans and goals should be a significant part of the equation.”*

—

If a major life change is prompting you to consider selling, now may be the right time to act. Whether you’re in **Greater Cincinnati**, **Northern Kentucky**, or **Southeast Indiana**, work with a trusted real estate professional who can guide you through the process and help you achieve your goals.

Let’s discuss how we can navigate your next steps—whether you’re looking to **sell your house** or find the perfect **home for sale** for your next chapter.

Hire A Professional • Home Buyers • Money Talk • VA Loan • November 16, 2024

The Majority of Veterans Are Unaware of a Key VA Loan Benefit

by Michael Cummiskey

### VA Home Loans: Helping Veterans Achieve the Dream of Homeownership

For over 79 years, **Veterans Affairs (VA) home loans** have empowered countless Veterans to own homes across **Greater Cincinnati, Northern Kentucky, and Southeast Indiana**. However, according to Veterans United, only 3 in 10 Veterans realize they may be eligible to purchase a home with no down payment (see visual below):

a group of people in circles

This highlights the importance of spreading awareness about this valuable program. Whether you’re a Veteran or someone who knows and supports one, understanding the resources available can make buying a home easier and prevent life-changing plans from being delayed. Veterans United explains:

> “The ability to buy with 0% down is the signature advantage of this nearly 80-year-old benefit program. Eligible Veterans can buy as much house as they can afford, all without the need to spend years saving for a down payment.”

### Why VA Home Loans Stand Out

VA home loans are designed to make the dream of homeownership a reality for those who have served our country. These loans offer significant benefits for **buying homes for sale in Greater Cincinnati, Northern Kentucky, and Southeast Indiana**, including:

– **Options for No Down Payment**
Many Veterans can purchase a home without a down payment, streamlining the homebuying process.

– **Limited Closing Costs**
VA loans limit the types of closing costs Veterans must cover, keeping more money in your pocket when you close the deal.

– **No Private Mortgage Insurance (PMI)**
Unlike other loan types, VA loans don’t require PMI—even with lower down payments. This means reduced monthly payments and significant long-term savings.

### Partnering with Real Estate Experts

When buying or selling homes in **Greater Cincinnati**, **Northern Kentucky**, or **Southeast Indiana**, your local team of expert real estate professionals, including a trusted lender, can help you navigate the process. They’ll ensure you understand all the benefits and options available to make confident, informed decisions.

### Bottom Line

Owning a home is a vital part of the American Dream. For Veterans, VA home loans are a game-changing benefit, helping make that dream a reality. Whether you’re looking to explore **homes for sale** or need guidance on how to **sell your house**, connect with a real estate professional today to ensure a smooth and successful journey in the housing market.

Hire A Professional • Luxury Homes • Money Talk • Selling Your Home • November 15, 2024

Why You Need an Agent To Set the Right Asking Price

by Michael Cummiskey

Some Highlights

The #1 task sellers struggle with is setting the right asking price for their house.
Without an agent’s help, you may set a price that turns away buyers and takes a long time to sell.
To make sure your house is priced right, connect with a local agent. Because if the price isn’t compelling, it’s not selling.

Hire A Professional • Home Buyers • Luxury Homes • Money Talk • New Build • Retirement • Selling Your Home • VA Loan • November 15, 2024

Expect the Unexpected: Anticipating Volatility in Today’s Housing Market

by Michael Cummiskey

**Navigating the Current Real Estate Market in Greater Cincinnati, Northern Kentucky, and Southeast Indiana**

If you’re thinking about buying or selling a home, you’ve probably noticed that the housing market feels a bit unpredictable. From home prices to mortgage rates, the market is experiencing some volatility, and it’s crucial to understand the driving forces behind these shifts.

Let’s break down what’s happening and how you can successfully navigate today’s market—whether you’re searching for *homes for sale* or looking to *sell your house*.

—

### **What’s Causing Market Volatility?**

Several key factors are contributing to the uncertainty in the real estate market:
– **Economic data**
– **Unemployment rates**
– **Federal Reserve decisions**
– **Geopolitical events**
– **The upcoming presidential election**

These elements create uncertainty, which directly impacts market conditions, especially mortgage rates. Each new economic report, employment update, or inflation release can lead to sudden shifts in interest rates.

Mortgage rates, while projected to trend downward over the long term, have been anything but steady. As **Greg McBride, CFA**, Chief Financial Analyst at Bankrate, explains:

> “After steadily declining throughout the summer months, I expect more ups and downs to mortgage rates. Job market data will be closely watched, as well as any clues from the Fed about the extent of upcoming interest rate cuts.”

**Hannah Jones, Senior Economic Research Analyst at Realtor.com,** agrees:

> “Rates have shown considerable volatility lately and may continue to do so . . . Overall, we still expect a downward long-term mortgage rate trend.”

This fluctuating landscape also affects *home prices* and *inventory*. Whether you’re buying or selling in Greater Cincinnati, Northern Kentucky, or Southeast Indiana, conditions can vary dramatically between neighborhoods. Some areas have rising prices and limited inventory, while others offer more homes for sale with moderate pricing trends.

—

### **The Key to Success: Partnering with a Real Estate Professional**

When navigating these unpredictable shifts, having the guidance of an experienced *real estate agent* is invaluable. A professional can:
– Keep you informed about market updates in Greater Cincinnati, Northern Kentucky, and Southeast Indiana.
– Explain how mortgage rate changes impact your purchasing power or selling strategy.
– Provide hyper-local insights, such as neighborhood-specific pricing trends and inventory levels.

For example, even small changes in mortgage rates can significantly affect monthly payments. Your agent and a trusted lender will ensure you understand these nuances and help you make smart financial decisions.

Whether you’re buying a home or listing your property, an agent’s expertise will help you adapt to changes in competition, pricing, and inventory.

—

### **Bottom Line**

The housing market may be unpredictable, but that doesn’t mean you need to pause your plans. With an experienced *real estate agent* by your side, you’ll have the tools to navigate market shifts and take advantage of opportunities in *Greater Cincinnati, Northern Kentucky, and Southeast Indiana*.

Whether you’re looking for *homes for sale* or need help to *sell your house*, reach out today to discuss your real estate goals!

Hire A Professional • Home Buyers • Money Talk • November 15, 2024

Is a Fixer Upper Right for You?

by Michael Cummiskey

**Homes for Sale: Why a Fixer Upper Might Be Your Best Bet**

Looking to buy a home in **Greater Cincinnati, Northern Kentucky, or Southeast Indiana**, but feeling like most options are out of reach? The good news is, there’s still a way to become a homeowner—even when affordability feels like a major challenge. The solution might be a fixer-upper! Let’s explore how buying a fixer-upper could be the key to achieving homeownership and how to make it work for you.

—

### **What Is a Fixer Upper?**
A fixer-upper is a home that’s livable but needs some work. The extent of repairs varies—some homes may only need cosmetic updates, like fresh paint and new flooring, while others might require more significant improvements, such as roof replacement or plumbing upgrades.

Because these homes require some effort, they’re often priced lower than move-in-ready properties. According to a **StorageCafe** survey, fixer-uppers typically cost about **29% less** than comparable homes that are ready to move into. That’s why more buyers are considering homes that need a little extra attention right now.

a blue and grey pie chart

If you’re willing to roll up your sleeves and invest some time, a house with untapped potential might be your best option to break into the market.

—

### **Tips for Buying a Fixer Upper in Greater Cincinnati, Northern Kentucky, and Southeast Indiana**

#### 1. **Location is Key**
You can change almost anything about a house—except where it’s located. Look for homes in neighborhoods with rising property values and convenient amenities. Whether you’re buying in **Northern Kentucky**, **Southeast Indiana**, or **Greater Cincinnati**, a good location ensures that your investment pays off over time.

#### 2. **Budget for the Unexpected**
Renovations often take longer and cost more than anticipated. Be sure to set aside extra funds for unforeseen repairs or delays during the process.

#### 3. **Get a Professional Inspection**
Before making an offer, hire a home inspector. They’ll identify critical repairs and help you avoid surprises that could strain your budget.

#### 4. **Set Priorities for Renovations**
Think of your renovation plan in three stages:
– **Must-Haves:** Address essential repairs (e.g., structural issues or outdated wiring).
– **Nice-to-Haves:** Add features that improve convenience (e.g., new appliances or upgraded bathrooms).
– **Dream Features:** Save luxuries like outdoor kitchens or spa-like bathrooms for later.

—

### **Why Fixer-Uppers Are a Smart Choice**
Buying a fixer-upper allows you to customize your home while saving money on the purchase price. With careful planning and strategic renovations, you can transform a house into your dream home over time.

Plus, partnering with a knowledgeable **real estate agent** is key. An agent who understands the **Greater Cincinnati, Northern Kentucky, and Southeast Indiana real estate markets** can help you find homes for sale that offer maximum potential. They’ll guide you toward properties where your upgrades will add real value, ensuring your investment is worthwhile.

—

### **Bottom Line**
In today’s competitive housing market, finding a move-in-ready home that fits your budget can feel daunting. But if you’re open to putting in a little work, a fixer-upper might be the perfect solution. With the right guidance and a vision for what’s possible, you can turn a house that needs some love into the home of your dreams.

Whether you’re looking to **buy a home** or want to **sell your house**, a trusted local **real estate agent** can help you navigate the market in **Greater Cincinnati, Northern Kentucky, and Southeast Indiana**. Don’t hesitate to reach out to start your journey today!

Hire A Professional • Home Buyers • Luxury Homes • Money Talk • New Build • Retirement • Selling Your Home • November 1, 2024

Q&A: How Do Presidential Elections Impact the Housing Market?

by Michael Cummiskey

Some Highlights

Even if you’re not looking to move right away, you may have questions about how the election will impact the housing market.
When we look at historical trends, combined with what’s happening right now, we can find your answers. Based on historical data, mortgage rates decrease in the months before and home prices and sales increase the year after the election.
The facts show Presidential elections only have a small and temporary impact on the housing market.

Don’t Let These Two Concerns Hold You Back from Selling Your House

Should You Sell Your House or Rent It Out?

More Homes, Slower Price Growth – What It Means for You as a Buyer

The Big Difference Between Renter and Homeowner Net Worth

Some Highlights

What’s Motivating Homeowners To Move Right Now

The Majority of Veterans Are Unaware of a Key VA Loan Benefit

Why You Need an Agent To Set the Right Asking Price

Some Highlights

Expect the Unexpected: Anticipating Volatility in Today’s Housing Market

Is a Fixer Upper Right for You?

Q&A: How Do Presidential Elections Impact the Housing Market?

Some Highlights

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