Julia Mitchell

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Julia Mitchell There is an art to home sales. This page was created to provide information, ideas, and items of interest related to the real estate market of today.

With more down payment assistance programs than ever before, now’s a great time to explore how these options can help on...
11/22/2024

With more down payment assistance programs than ever before, now’s a great time to explore how these options can help on your homebuying journey. Let’s work together to make sure you’ve got a team of expert advisors in place to see which DPA programs could be a fit for you.

With rising home prices and volatile mortgage rates, it’s important you know about every resource that could help make buying a home possible.

If you’re torn between renting or buying, don’t forget to factor in the wealth-building power of homeownership. Unlike r...
11/15/2024

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. Let’s connect if you want to learn more about the financial benefits of homeownership or the programs that can help make buying possible.

If you’re torn between renting or buying, don’t forget to factor in the wealth-building power of homeownership.

The #1 task sellers struggle with is setting the right asking price for their house. Without an agent’s help, you may s...
11/08/2024

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, let’s connect. Because, if the price isn’t compelling, it’s not selling.

The #1 task sellers struggle with is setting the right asking price for their house. 

Even if you’re not looking to move right away, you may have questions about how the election will impact the housing mar...
11/01/2024

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.

Even if you’re not looking to move right away, you may have questions about how the election will impact the housing market.

As you’re getting ready to sell your house, one of the first questions you’re probably asking is, “how long is this goin...
10/25/2024

As you’re getting ready to sell your house, one of the first questions you’re probably asking is, “how long is this going to take?” And that makes sense—you want to know what to expect.

More Homes Are on the Market, and That’s Affecting How Long They Take To Sell

According to Realtor.com, the number of homes for sale has been going up this year. That means there are more options for buyers, which is great news for anyone looking to buy a home. But as a seller, it also means homes are staying on the market a bit longer now that buyers have more options to choose from.

But keep this in mind. While homes might not be selling as quickly as they did last year at this time, they’re still selling faster than they did in more normal years in the housing market, before the pandemic.

As NerdWallet explains: “Overall, though, demand still outpaces supply. This is hardly a mellow market: Good homes sell quickly . . .”

Your...

As you’re getting ready to sell your house, one of the first questions you’re probably asking is, “how long is this going to take?” 

Did you know? Homeowners are often able to put more money down when they buy their next home. That’s because, once they ...
10/18/2024

Did you know? Homeowners are often able to put more money down when they buy their next home. That’s because, once they sell, they can use the equity they have in their current house toward their next down payment. And it’s why as home equity reaches a new height, the median down payment has too.

According to the latest data from Redfin, the typical down payment for U.S. homebuyers is $67,500—that’s nearly 15% more than last year, and the highest on record.

Here’s why equity makes this possible. Over the past five years, home prices have increased significantly, which has led to a big boost in equity for current homeowners like you. When you sell your house and move, you can take the equity that gives you and apply it toward a larger down payment on your new home. That’s a major opportunity.

Now, it’s important to remember you don’t have to make a big down payment to buy your next home—there are loan programs...

Did you know? Homeowners are often able to put more money down when they buy their next home.

Based on a recent study, in 22 of the top 50 metros, the monthly mortgage payment is lower than the rent payment. Make s...
10/11/2024

Based on a recent study, in 22 of the top 50 metros, the monthly mortgage payment is lower than the rent payment. Make sure you work with a pro who can help you crunch the numbers and see how your city stacks up. This may be your opportunity to forget renting for good. If you want to see which option makes the most sense in our area, let’s do the math together.

Based on a recent study, in 22 of the top 50 metros, the monthly mortgage payment is lower than the rent payment.

That’s right—according to a recent study from Zillow, in 22 of the 50 largest metro areas, monthly mortgage payments are...
10/04/2024

That’s right—according to a recent study from Zillow, in 22 of the 50 largest metro areas, monthly mortgage payments are now lower than rent payments.

As mortgage rates have eased off their recent peak, home prices have moderated, and inventory has ticked up, affordability has improved significantly. When you add all of that up, it’s getting less expensive to buy a home than to rent one in many parts of the country.

You see, talking with a local real estate agent about what’s happening in your market before this happens in your ideal neighborhood could really change the game for you. It’s all about being informed by a true expert, and understanding what was out of reach before might actually be getting more affordable than you think.

Now, while this study compares monthly rent to principal and interest on a mortgage payment (not the whole monthly payment), let’s think through this. As Zillow notes, what you can’t...

That’s right—according to a recent study from Zillow, in 22 of the 50 largest metro areas, monthly mortgage payments are now lower than rent payments.

Every seller wants to get their house sold quickly, for as much money as they can, with as few headaches as possible. An...
09/27/2024

Every seller wants to get their house sold quickly, for as much money as they can, with as few headaches as possible. And chances are, you’re no different.

But did you know one of the biggest things that could jeopardize your success is the asking price for your home?

1.You’re Not Getting Many Showings or Offers

One of the most obvious signs your house may be overpriced is a lack of showings. If it's been on the market for several weeks and only a few buyers have come to see it—or worse, you haven’t gotten any offers—it could be a clear indication the price isn’t matching up with what buyers expect.

2.Buyers Have Consistent Negative Feedback after Showings

And if after the showings you do have, comments from the potential buyers aren’t great, you may need to course correct. If they consistently say it's overpriced compared to other homes they’ve seen, it’s time to reconsider your pricing strategy.

3.It’s Been...

Every seller wants to get their house sold quickly, for as much money as they can, with as few headaches as possible.

Mortgage rates have hit their lowest point in over a year and a half. And that’s big news if you’ve been sitting on the ...
09/20/2024

Mortgage rates have hit their lowest point in over a year and a half. And that’s big news if you’ve been sitting on the homebuying sidelines waiting for this moment.

Even a small decline in rates could help you get a better monthly payment than you would expect on your next home. And the drop that’s happened recently isn’t small. As Sam Khater, Chief Economist at Freddie Mac, says:

“Mortgage rates have fallen more than half a percent . . . and are at their lowest level since February 2023.”

But if you want to see it to really believe it, here’s how the math shakes out. Going from 7.5% just a few months ago to the low 6s has a big impact on your bottom line. In just a few months’ time, the anticipated monthly payment on a $400K loan has come down by over $370. That’s hundreds of dollars less per month.

With the recent drop in mortgage rates, the purchasing power you have right now is better than it’s been in almost...

Mortgage rates have hit their lowest point in over a year and a half.

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