Philip Harris Realtor-William Raveis

Multi-generational living offers benefits that go well beyond financial savings. Sharing a home with multiple generations doesn’t just cut costs and expenses, it can also create stronger bonds and simplify caregiving. If these benefits appeal to you and your loved ones, DM me today so we can find the home that best suits your needs.

These Top Cities Show Home Prices Are Still Climbing

If you’re considering buying a home or selling your current one to find something that better suits your needs, you may have questions about what’s happening with home prices today. Here’s what you need to know.

There’s still a lot of confusion and misinformation out there. So, no matter what you may have heard, the national data shows they've actually been climbing again.

Home Prices Are Rising Across the Top Cities in the U.S.

After seeing steady home price growth at the national level for the last several months, you may wonder if prices are going up in your local area, too. Know this: while this will vary from one area to the next, home prices are appreciating in these top cities Case-Shiller reports on in their monthly price index.

Here’s How This Affects You

• For Buyers: If you've been waiting to buy a home because you were...

These Top Cities Show Home Prices Are Still Climbing If you’re considering buying a home or selling your current one to find something that better suits your needs, you may have questions about what’s happening with home prices today. 

Whether it’s welcoming a new addition to your household or starting a new job, life events often spark the need to make a move. If something in your life has recently changed and you’re feeling the urge to find a home that better fits what you’re looking for, let’s connect.

Thinking About Using Your 401(k) To Buy a Home?

Are you dreaming of buying your own home and wondering about how you’ll save for a down payment? You're not alone. Some people think about tapping into their 401(k) savings to make it happen. But before you decide to dip into your retirement to buy a home, be sure to consider all possible alternatives and talk with a financial expert. Here’s why.

The Numbers May Make It Tempting

It can be really tempting when you have a lot of money saved up in your 401(k) and you see your dream home on the horizon. But remember, dipping into your retirement savings for a home could cost you a penalty and affect your finances later on. That's why it's important to explore all your options when it comes to saving for a down payment and buying a home.

Alternative Ways To Buy a Home

Using your 401(k) is one way to finance a home, but it's not the...

Thinking About Using Your 401(k) To Buy a Home? Are you dreaming of buying your own home and wondering about how you’ll save for a down payment? You're not alone.

Homeowner Net Worth Has Skyrocketed

If you’re weighing your options to decide whether it makes more sense to rent or buy a home today, here’s one key data point that could help you feel more confident in making your decision. Every three years, the Federal Reserve Board releases the Survey of Consumer Finances (SCF). That report covers the difference in net worth for both homeowners and renters. Spoiler alert: the gap between the two is significant.

The average homeowner’s net worth is almost 40X greater than a renter’s.

One of the biggest reasons homeowner net worth skyrocketed is home equity.

Over the last few years, known as the ‘unicorn’ years for housing, home prices went through the roof. That’s because there weren’t enough homes for sale, and there was a big influx of buyers rushing to buy them and take advantage of the then record-low mortgage rates. That imbalance of...

Homeowner Net Worth Has Skyrocketed If you’re weighing your options to decide whether it makes more sense to rent or buy a home today, here’s one key data point that could help you feel more confident in making your decision.

Homeownership is at the heart of the American Dream. And VA home loans can help veterans achieve that dream of owning a home. VA loans offer benefits like options for no down payment, no private mortgage insurance, and limited closing costs to help put buying a home within reach.

Don’t Believe Everything You Read About Home Prices

According to the latest data from Fannie Mae, 23% of Americans still think home prices will go down over the next twelve months. But why do roughly 1 in 4 people feel that way?

It has a lot to do with all the negative talk about home prices over the past year. Since late 2022, the media has created a lot of fear about a price crash and those concerns are still lingering.

The answer is simple. Listen to the professionals who specialize in residential real estate.

Market experts acknowledge that nationally, prices did dip down slightly late last year, but that was short-lived. Data shows prices have already rebounded this year after that slight decline in 2022.

What’s worth noting is that, just a few short weeks ago, the Fannie Mae forecast was for 3.9% appreciation in 2023. In the forecast that just came out, that projection was...

Don’t Believe Everything You Read About Home Prices According to the latest data from Fannie Mae, 23% of Americans still think home prices will go down over the next twelve months.

For many people, finding a new place to call home isn't just a wish, it's a real need. If you need to move due to recent changes in your own life, let's connect and find the perfect home for you.

The Benefits of Buying a Multi-Generational Home [INFOGRAPHIC]

If you’re ready to buy a home but are having a hard time affording it on your own, or, if you have aging loved ones you need to care for, you might want to consider a multi-generational home. Living with siblings, parents, and even grandparents can help you save money, give or receive childcare, and spend quality time together. Let’s connect to find a home in our area that’s perfect for you and your loved one’s needs.

www.simplifyingthemarket.com

Debating selling your house before the year is over? Keep this in mind. If someone's looking to buy a home this time of year, you can bet they mean business. Buyers in the market toward the year’s end are usually super motivated and ready to make a move. DM me to get your house in front of those driven buyers this season.

A Real Estate Agent Helps Take the Fear Out of the Market

Do negative headlines and talk on social media have you feeling worried about the housing market? Maybe you’ve even seen or heard something lately that scares you and makes you wonder if you should still buy or sell a home right now.

Regrettably, when news in the media isn't easy to understand, it can make people feel scared and unsure. Similarly, negative talk on social media spreads fast and creates fear.

But it doesn’t have to be that way. Buying a home is a big decision, and it should be one you feel confident making. You should lean on a trusted real estate agent to help you separate fact from fiction and get the answers you need.

That agent will use their knowledge of what’s really happening with home prices, housing supply, expert forecasts, and more to give you the best possible advice.

The right agent will...

A Real Estate Agent Helps Take the Fear Out of the Market Do negative headlines and talk on social media have you feeling worried about the housing market?

In a recent survey, 45% of Americans said they believe real estate is the road to riches – that’s more than any other investment. That highlights the role many people believe homeownership plays in shaping their financial well-being and giving them a greater sense of stability. Ready to begin your journey toward homeownership? DM me today.

Let's debunk some common homebuying myths together. No matter what you’ve heard, people do buy homes even if they have student loan debt, home prices aren’t falling, and you usually don’t need 20% for your down payment. Want to learn more? Let’s connect so you can get on the path to homeownership today.

What Are Accessory Dwelling Units and How Can They Benefit You?

Maybe you’re in the market for a home and are having a hard time finding the right one that fits your budget. Or perhaps you’re already a homeowner in need of extra income or a place for loved ones. Whether as a potential homebuyer or a homeowner with changing needs, accessory dwelling units, or ADUs for short, may be able to help you reach your goals.

What Is an ADU?

As AARP says:
• “An ADU is a small residence that shares a single-family lot with a larger, primary dwelling.”
• “An ADU is an independent, self-contained living space with a kitchen or kitchenette, bathroom and sleeping area.”
• “An ADU can be located within, attached to, or detached from the main residence.”

The Benefits of ADUs

• Living Close by, But Still Separate: According to Freddie Mac: “Having an accessory dwelling unit on an existing...

What Are Accessory Dwelling Units and How Can They Benefit You? Maybe you’re in the market for a home and are having a hard time finding the right one that fits your budget.

Foreclosures and Bankruptcies Won’t Crash the Housing Market

If you've been following the news recently, you might have seen articles about an increase in foreclosures and bankruptcies. That could be making you feel uneasy, especially if you're thinking about buying or selling a house.

But the truth is, even though the numbers are going up, the data shows the housing market isn’t headed for a crisis.

Foreclosure Activity Rising, but Less Than Headlines Suggest

In recent years, the number of foreclosures has been very low. That’s because, in 2020 and 2021, the forbearance program and other relief options were put in place to help many homeowners stay in their homes during that tough time.

When the moratorium ended, there was an expected rise in foreclosures. But just because they’re up, that doesn't mean the housing market is in trouble.

Foreclosure filings are still way...

Foreclosures and Bankruptcies Won’t Crash the Housing Market If you've been following the news recently, you might have seen articles about an increase in foreclosures and bankruptcies.

Multi-generational living is a great way to buy a larger home without breaking the bank, even today. By working with your loved ones to combine your resources together, you can afford a more spacious home that might have been out of reach otherwise. DM me to learn about this housing option and open the door to homeownership possibilities you may not have considered.

Unmasking Scary Myths about Today’s Housing Market [INFOGRAPHIC]

Here’s what you really need to know about a few myths causing fear in today’s housing market. Despite common misconceptions, many people can buy a home even if they have student loans, home prices are rising nationally (not falling), and you usually don’t have to have 20% for a down payment. If you have other fears or reservations about buying a home today, DM me so you have an expert to help clear those up.

Unmasking Scary Myths about Today’s Housing Market [INFOGRAPHIC] Here’s what you really need to know about a few myths causing fear in today’s housing market.

Considering selling your house this year and wondering if you should go solo? Take a moment to weigh your options carefully. Teaming up with an experienced real estate agent can be your best bet for setting the right price and achieving a successful sale. To make sure you have a pro on your side every step of the way, DM me today.

Affordable Homeownership Strategies for Gen Z

The idea of owning a home has always been a big part of the American Dream. It's a symbol of stability, independence, and having a place to truly call your own. But for Gen Z, the "Zoomers" born between 1997 and 2012, making that dream a reality can feel like quite the challenge today with higher mortgage rates and rising home prices.

But achieving that goal of owning your first home can still be attainable, even today, with some strategic planning and resourcefulness.

Explore Financing and Down Payment Assistance Options

With prices rising all around you, it can be hard to save up for a home. There are a lot more options out there than you may realize. According to Down Payment Resource, there are over 2,000 programs designed to help hopeful homebuyers with down payments and closing costs.

Consider Living with Relatives To Save

Many...

Affordable Homeownership Strategies for Gen Z The idea of owning a home has always been a big part of the American Dream.

If you’re thinking of selling your house, know that buyers are on the move, even today. Homes sold faster this past month compared to the average September from 2017 to 2019. That’s because there are still more buyers looking to buy than homes available for sale. Don't miss out on the action. If you’re ready to sell, let’s chat.

The Perks of Selling Your House When Inventory Is Low

When it comes to selling your house, you’re probably trying to juggle the current market conditions and your own needs as you plan your move.

One thing that may be working in your favor is how few homes there are for sale right now. Here’s what you need to know about the current inventory situation and what it means for you.

The Supply of Homes for Sale Is Far Below the Norm

When you’re selling something, it helps if what you’re selling is in demand, but is also in low supply. Why? That makes it even more desirable since there’s not enough to go around. That’s exactly what’s happening in the housing market today. There are more buyers looking to buy than there are homes for sale.

What That Means for You

Buyers have fewer choices now than they did in more typical years. And that’s why you could still see some great perks if you...

www.simplifyingthemarket.com

Why Home Prices Keep Going Up

If you've ever dreamed of buying your own place, or selling your current house to upgrade, you're no stranger to the rollercoaster of emotions changing home prices can stir up.

But if you put off moving because you’re worried home prices might drop, make no mistake, they’re not going down. In fact, it's just the opposite.

Orphe Divounguy, Senior Economist at Zillow, explains changing home prices over the past 12 months this way: “The U.S. housing market has surged over the past year after a temporary hiccup from July 2022-January 2023. . . . That downturn has proven to be short lived as housing has rebounded impressively so far in 2023. . .”

Looking ahead, home price appreciation typically starts to ease up this time of year. As that happens, there’s some risk the media will confuse slowing price growth (deceleration of appreciation) with home prices...

www.simplifyingthemarket.com

Foreclosure headlines may be raising eyebrows, but here’s the bigger picture to put your mind at ease. While foreclosure filings have increased slightly, there’s no reason to worry. That slight uptick was expected as the foreclosure moratorium ended. Most importantly, we’re nowhere near the volume we saw during the housing crash, so there isn’t a flood of foreclosures coming.

Home Price Growth Is Returning to Normal [INFOGRAPHIC]

If you're wondering what’s happening with home prices, know they’re still rising, just at a slower pace – and that’s perfectly normal for this time of year. Based on typical seasonality in the market, prices go up most in the spring during the peak buying season, and then price growth slows down as the year goes on. Home prices aren’t falling. They’re just rising slower and going back to normal seasonal trends. That’s a good thing. If you're curious about prices in our area, let’s connect.

Home Price Growth Is Returning to Normal [INFOGRAPHIC] If you're wondering what’s happening with home prices, know they’re still rising, just at a slower pace – and that’s perfectly normal for this time of year.

Did all the negative media coverage saying home prices were falling leave you feeling a little freaked out? Let's clear the air. Yes, there was a dip, but it was a lot shallower than expected and it didn’t last for long. Prices have already rebounded and are back on the rise nationally. If you have questions about what’s happening with prices in our area, DM me today.

After all the negative headlines this year, many people are still wondering if home prices are going to come crashing down. The good news is most experts are forecasting prices will end up on the positive side this year. If you're curious about what’s happening with home prices near us, let’s chat so I can give you the latest insights.

Are Higher Mortgage Rates Here To Stay?

Mortgage rates have been back on the rise recently and that’s getting a lot of attention from the press. If you’ve been following the headlines, you may have even seen rates recently reached their highest level in over two decades.

That can feel like a little bit of a gut punch if you’re thinking about making a move. If you’re wondering whether or not you should delay your plans, here’s what you really need to know.

How Higher Mortgage Rates Impact You

There’s no denying mortgage rates are higher right now than they were in recent years.
Basically, some people are deciding to put their plans on hold because of where mortgage rates are right now. But what you want to know is: is that a good strategy?

Where Will Mortgage Rates Go from Here?

If you’re eager for mortgage rates to drop, you’re not alone. A lot of people are waiting for...

Are Higher Mortgage Rates Here To Stay? Mortgage rates have been back on the rise recently and that’s getting a lot of attention from the press.