You’re probably feeling the impact of high inflation every day as prices have gone up on groceries, gas, and more. If you’re a renter, you’re likely experiencing it a lot as your rent continues to rise. Between all of those elevated costs and uncertainty about a potential recession, you may be wondering if it still makes sense to buy a home today. The short answer is – it does. Here’s why.

Homeownership actually shields you from the rising costs inflation brings.

Freddie Mac explains how:

“Not only will buying today help you begin to build equity, a fixed-rate mortgage can stabilize your monthly housing costs for the long-term even while other life expenses continue to rise – as has been the case the past few years.”

A fixed-rate mortgage allows you to protect yourself from future rent hikes. With inflation still high, when your rental agreement comes up for renewal, your property manager may decide to increase your payments to offset the impact of inflation. Maybe that’s why, according to a recent survey, 73% of property managers plan to raise rents over the next two years.

Having your largest monthly expense remain stable in a time of economic uncertainty is a major perk of homeownership. If you continue to rent, you don’t have that same benefit and aren’t as protected from rising costs.

Bottom Line
A stable housing payment is especially important in times of high inflation. Let’s connect so you can learn more and start your journey to homeownership today.

Like “Majic” I’ll get it CLOSED!

(Maji) Maria Ramos Real Estate Advisor P.A
305-519-7940  |  maji@majisold.com
Coldwell Banker Realty

• Miami Realtor since 1993
• 2nd Generation Realtor
• Expert Negotiator
• Market Trends Expert
• Miami native
• Bilingual – English & Spanish
• About me: https://linktr.ee/majisold

For the latest breaking news for the Miami Real Estate Market please subscribe to my blog or YouTube channel:

~  Maji’s Market Minute Blog on MiamiHomeTrends.com http://bit.ly/majismarketminute-blog
~  YouTube channel: https://bit.ly/MajisMarketMinute

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The process of buying a home can feel a bit intimidating, even under normal circumstances. But today’s market is still anything but normal. There continues to be a very limited number of homes for sale, and that’s creating bidding wars and driving home prices back up as buyers compete over the available homes.

Navigating all of this can be daunting if you’re trying to do it alone. That’s why having a skilled expert to guide you through the homebuying process is essential, especially today. Bankrate shares this perspective:

“Advice and guidance from a professional real estate agent can be invaluable, particularly amid a hot or unpredictable housing market.”

What’s the Key To Choosing the Right Expert?
It starts with trust. You’ll want to know you can trust the advice they’re giving you, so you need to make sure you’re connected with a true professional. No one can provide perfect advice because it’s impossible to know exactly what’s going to happen at every turn – especially in today’s market. But a true professional can give you the best possible advice based on the information and situation at hand.

They’ll help advocate for you throughout the process and coach you on the essential knowledge you need to make confident decisions. That’s exactly what you want and deserve.

Bottom Line
It’s critical to have an expert on your side who is skilled in navigating today’s housing market. If you’re planning to buy a home this year, let’s connect so you have a real estate advisor on your side to give you the best advice and guide you along the way.

Like “Majic” I’ll get it CLOSED!

(Maji) Maria Ramos Real Estate Advisor P.A
305-519-7940  |  maji@majisold.com
Coldwell Banker Realty

• Miami Realtor since 1993
• 2nd Generation Realtor
• Expert Negotiator
• Market Trends Expert
• Miami native
• Bilingual – English & Spanish
• About me: https://linktr.ee/majisold

For the latest breaking news for the Miami Real Estate Market please subscribe to my blog or YouTube channel:

~  Maji’s Market Minute Blog on MiamiHomeTrends.com http://bit.ly/majismarketminute-blog
~  YouTube channel: https://bit.ly/MajisMarketMinute

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If you’re thinking about buying a home, you want to know the decision will be a good one. And for many, that means thinking about what home prices are projected to do in the coming years and how that could impact your investment.

This year, we aren’t seeing home prices fall dramatically. As the year goes on, however, some markets may go up in value while others may lose value. That’s why it’s helpful to keep the long-term view in mind. Experts project a return to a steadier rate of price appreciation in the years that follow.

Home Price Appreciation in the Years Ahead
Over 100 economists, investment strategists, and housing market analysts were polled by Pulsenomics in their latest quarterly Home Price Expectation Survey (HPES). The report indicates what they believe will happen with home prices over the next five years. As the graph below shows, after mild depreciation this year, these experts forecast home prices will return to more normal levels of appreciation through 2027.

The big takeaway is experts aren’t forecasting a drastic fall in home prices nationally, even though some markets will see home price appreciation while others may depreciate. And when they look further out, they see steady price appreciation in the long run. That’s a great example of why homeownership wins over time.

What Does This Mean for You?
Once you buy a home, price appreciation raises your home’s value, and that grows your household wealth. Here’s how a typical home’s value could change over the next few years using the expert price appreciation projections from the survey mentioned above (see graph below):

In this example, if you bought a $400,000 home at the beginning of this year and factor in the forecast from the HPES, you could accumulate over $54,000 in household wealth over the next five years. So, if you’re wondering if buying a home is a sound decision, keep in mind what a strong wealth-building tool it is long term.

Bottom Line
According to the experts, while we may see slight depreciation this year, home prices are expected to grow over the next five years. If you’re ready to become a homeowner, know that buying today can set you up for long-term success as home values (and your own net worth) are projected to grow. Let’s connect to begin the homebuying process today.

Like “Majic” I’ll get it CLOSED!

(Maji) Maria Ramos Real Estate Advisor P.A
305-519-7940  |  maji@majisold.com
Coldwell Banker Realty

• Miami Realtor since 1993
• 2nd Generation Realtor
• Expert Negotiator
• Market Trends Expert
• Miami native
• Bilingual – English & Spanish
• About me: https://linktr.ee/majisold

For the latest breaking news for the Miami Real Estate Market please subscribe to my blog or YouTube channel:

~  Maji’s Market Minute Blog on MiamiHomeTrends.com http://bit.ly/majismarketminute-blog
~  YouTube channel: https://bit.ly/MajisMarketMinute

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As you can see, the most common answers included landscaping and painting. Work with a trusted real estate agent to determine what projects make the most sense for your goals and local market.

If Possible, Plan To Have Your House Staged
Once you’ve made any necessary repairs and updates to your house, consider having it staged. According to the National Association of Realtors (NAR), 82% of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home. Additionally, almost half of buyers’ agents said home staging had an effect on most buyers’ view of the home in general. Homes that are staged typically sell faster and for a higher price because they help potential buyers more easily picture their new life in the house.

Bottom Line
Are you ready to sell this spring? Let’s connect to plan your next steps. You can start by making a checklist of what you think your house needs to get ready. Then, we can work together to prioritize your list and move forward together.

Like “Majic” I’ll get it CLOSED!

(Maji) Maria Ramos Real Estate Advisor P.A
305-519-7940  |  maji@majisold.com
Coldwell Banker Realty

• Miami Realtor since 1993
• 2nd Generation Realtor
• Expert Negotiator
• Market Trends Expert
• Miami native
• Bilingual – English & Spanish
• About me: https://linktr.ee/majisold

For the latest breaking news for the Miami Real Estate Market please subscribe to my blog or YouTube channel:

~  Maji’s Market Minute Blog on MiamiHomeTrends.com http://bit.ly/majismarketminute-blog
~  YouTube channel: https://bit.ly/MajisMarketMinute

#majiramosrealestateadvisorpa #miami_home_trends #majismarketminute
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If you’re reading headlines about inflation or mortgage rates, you may see something about the recent decision from the Federal Reserve (the Fed). But what does it mean for you, the housing market, and your plans to buy a home? Here’s what you need to know.

Inflation and the Housing Market
While the Fed’s working hard to lower inflation, the latest data shows that, while the number has improved some, the inflation rate is still higher than the target (2%). That played a role in the Fed’s decision to raise the Federal Funds Rate last week. As Bankrate explains:

“Keeping its inflation-fighting streak alive, the Federal Reserve has raised interest rates for the 10th time in 10 meetings . . . The hikes aimed to cool an economy that was on fire after rebounding from the coronavirus recession of 2020.”
While the Fed’s actions don’t directly dictate what happens with mortgage rates, their decisions do have an impact and contributed to the intentional cooldown in the housing market last year.

How This Impacts You
During times of high inflation, your everyday expenses go up. That means you’ve likely felt the pinch at the gas pump and in the grocery store. By raising the Federal Funds Rate, the Fed is actively trying to lower inflation. If the Fed is successful, it could also ultimately lead to lower mortgage rates and better homebuying affordability for you. That’s because when inflation is high, mortgage rates tend to be high. But, as inflation cools, experts say mortgage rates will likely fall.

Where Experts Think Mortgage Rates and Inflation Will Go from Here
Moving forward, both inflation and mortgage rates will continue to impact the housing market. And as Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:

“Mortgage rates are likely to descend lower later in the year as the consumer price inflation calms down . . .”

Like “Majic” I’ll get it CLOSED!

(Maji) Maria Ramos Real Estate Advisor P.A
305-519-7940  |  maji@majisold.com
Coldwell Banker Realty

• Miami Realtor since 1993
• 2nd Generation Realtor
• Expert Negotiator
• Market Trends Expert
• Miami native
• Bilingual – English & Spanish
• About me: https://linktr.ee/majisold

For the latest breaking news for the Miami Real Estate Market please subscribe to my blog or YouTube channel:

~  Maji’s Market Minute Blog on MiamiHomeTrends.com http://bit.ly/majismarketminute-blog
~  YouTube channel: https://bit.ly/MajisMarketMinute

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#majisold #majipaceramos #miamirealtor #miamirealestate #miamirealestategent
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#googlemaji #mortgagerates

Why Today’s Housing Market Is Not About To Crash

There’s been some concern lately that the housing market is headed for a crash. And given some of the affordability challenges in the housing market, along with a lot of recession talk in the media, it’s easy enough to understand why that worry has come up.

But the data clearly shows today’s market is very different than it was before the housing crash in 2008. Rest assured, this isn’t a repeat of what happened back then. Here’s why.

It’s Harder To Get a Loan Now
It was much easier to get a home loan during the lead-up to the 2008 housing crisis than it is today. Back then, banks had different lending standards, making it easy for just about anyone to qualify for a home loan or refinance an existing one. As a result, lending institutions took on much greater risk in both the person and the mortgage products offered. That led to mass defaults, foreclosures, and falling prices.

Things are different today as purchasers face increasingly higher standards from mortgage companies. The graph below uses data from the Mortgage Bankers Association (MBA) to show this difference. The lower the number, the harder it is to get a mortgage. The higher the number, the easier it is.

Unemployment Recovered Faster This Time
While the pandemic caused unemployment to spike over the last couple of years, the jobless rate has already recovered back to pre-pandemic levels (see the blue line in the graph below). Things were different during the Great Recession as a large number of people stayed unemployed for a much longer period of time (see the red in the graph below):

Here’s how the quick job recovery this time helps the housing market. Because so many people are employed today, there’s less risk of homeowners facing hardship and defaulting on their loans. This helps put today’s housing market on stronger footing and reduces the risk of more foreclosures coming onto the market.

There Are Far Fewer Homes for Sale Today
There were also too many homes for sale during the housing crisis (many of which were short sales and foreclosures), and that caused prices to fall dramatically. Today, there’s a shortage of inventory available overall, primarily due to years of underbuilding homes.

The graph below uses data from the National Association of Realtors (NAR) and the Federal Reserve to show how the months’ supply of homes available now compares to the crash. Today, unsold inventory sits at just a 2.6-months’ supply. There just isn’t enough inventory on the market for home prices to come crashing down like they did in 2008.

Equity Levels Are Near Record Highs
That low inventory of homes for sale helped keep upward pressure on home prices over the course of the pandemic. As a result, homeowners today have near-record amounts of equity (see graph below):

And, that equity puts them in a much stronger position compared to the Great Recession. Molly Boesel, Principal Economist at CoreLogic, explains:

“Most homeowners are well positioned to weather a shallow recession. More than a decade of home price increases has given homeowners record amounts of equity, which protects them from foreclosure should they fall behind on their mortgage payments.”

Bottom Line
The graphs above should ease any fears you may have that today’s housing market is headed for a crash. The most current data clearly shows that today’s market is nothing like it was last time.

Like “Majic” I’ll get it CLOSED!

(Maji) Maria Ramos Real Estate Advisor P.A
305-519-7940  |  maji@majisold.com
Coldwell Banker Realty

• Miami Realtor since 1993
• 2nd Generation Realtor
• Expert Negotiator
• Market Trends Expert
• Miami native
• Bilingual – English & Spanish
• About me: https://linktr.ee/majisold

For the latest breaking news for the Miami Real Estate Market please subscribe to my blog or YouTube channel:

~  Maji’s Market Minute Blog on MiamiHomeTrends.com http://bit.ly/majismarketminute-blog
~  YouTube channel: https://bit.ly/MajisMarketMinute

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So, if you’re looking to live somewhere where you have two or more bedrooms to accommodate your household, give you more breathing room to spread out your belongings, or dedicate the extra space to practice your hobbies, it might make sense to consider homeownership.

Homeownership Allows You To Start Building Equity
In addition to shielding you from rising rents and being more affordable when you need more space, owning your home also allows you to start building your own equity, which in turn grows your net worth.

And, as home values typically rise over time and you pay off your mortgage, you build equity. That equity can set you up for success later on because you can use it to help fuel a move to an even bigger space down the line. That’s why, according to Zonda, the top reason millennial homeowners bought their home over the past year was to build their own equity instead of someone else’s.

Bottom Line
If you’re trying to decide whether to buy a home or continue renting, let’s connect to explore your options. With rents rising, it may make more sense to pursue your dream of homeownership.  

Downsizing has long been a popular option when homeowners reach retirement age. But there are plenty of other life changes that could make downsizing worthwhile. Homeowners who have experienced a change in their lives or no longer feel like their house fits their needs may benefit from downsizing too. U.S. News explains:

“Downsizing is somewhat common among older people and retirees who no longer have children living at home. But these days, younger people are also looking to downsize to save money on housing . . .”

And when inflation has made most things significantly more expensive, saving money where you can has a lot of appeal. So, if you’re thinking about ways to budget differently, it could be worthwhile to take your home into consideration.When you think about cutting down on your spending, odds are you think of frequent purchases, like groceries and other goods. But when you downsize your house, you often end up downsizing the bills that come with it, like your mortgage payment, energy costs, and maintenance requirements. Realtor.com shares:

“A smaller home typically means lower bills and less upkeep. Then there’s the potential windfall that comes from selling your larger home and buying something smaller.”

That windfall is thanks to your home equity. If you’ve been in your house for a while, odds are you’ve developed a considerable amount of equity. Your home equity is an asset you can use to help you buy a home that better suits your needs today.And when you’re ready to make a move, your team of real estate experts will be your guides through every step of the process. That includes setting the right price for your house when you sell, finding the best location and size for your next home, and understanding what you can afford at today’s mortgage rate.

What This Means for You
If you’re thinking about downsizing, ask yourself these questions:

• Do the original reasons I bought my current house still stand, or have my needs changed since then?
• Do I really need and want the space I have right now, or could somewhere smaller be a better fit?
• What are my housing expenses right now, and how much do I want to try to save by downsizing?

Once you know the answers to these questions, meet with a real estate advisor to get an answer to this one: What are my options in the market right now? A local housing market professional can walk you through how much equity you have in your house and how it positions you to win when you downsize.

Bottom Line
If you’re looking to save money, downsizing your home could be a great help toward your goal. Let’s connect to talk about your goals in the housing market this year.

Like “Majic” I’ll get it CLOSED!

(Maji) Maria Ramos Real Estate Advisor P.A
305-519-7940  |  maji@majisold.com
Coldwell Banker Realty

• Miami Realtor since 1993
• 2nd Generation Realtor
• Expert Negotiator
• Market Trends Expert
• Miami native
• Bilingual – English & Spanish
• About me: https://linktr.ee/majisold

For the latest breaking news for the Miami Real Estate Market please subscribe to my blog or YouTube channel:

~  Maji’s Market Minute Blog on MiamiHomeTrends.com http://bit.ly/majismarketminute-blog
~  YouTube channel: https://bit.ly/MajisMarketMinute

#majiramosrealestateadvisorpa #miami_home_trends #majismarketminute
#majisold #majipaceramos #miamirealtor #miamirealestate #miamirealestategent
#majiramos #Miamirealetstatemarket #homesellinginmiami #miamilistingagent  #miamihomesforsale #miamicondosforsale #priceyourhouseright
#homevaluation #zillow #zestimate #homecalculator #whatsmyhomeworth #hasmyhomegonedowninvalue  #miamihometrends #movingtomiami #miamineighborhoods
#googlemaji