Mortgage

Should You Update Your House Before Selling? Ask a Real Estate Professional.

Some Highlights

  • If you’re deciding whether you should make updates before you sell your house, lean on your trusted real estate advisor to be your guide.
  • In today’s sellers’ market, buyers have limited options and may be more willing to take on repairs themselves.
  • If you’re thinking about selling your house, let’s connect so you have expert advice that’s customized to your home and our local area.

If You’re a Homeowner, You Have Incredible Leverage When You Sell Today

Smiling woman giving high five to her friend after exercising. Woman looking happy after a successful workout session outdoors.

In today’s housing market, homeowners have a great opportunity to sell their house and receive the best terms for their personal situation. That’s because there’s a limited number of homes for sale, which is creating competition among buyers. Right now, homebuyers want three things:

These buyer needs give you an amazing advantage – also known as leverage – when you sell.

What Does This Mean for Sellers Today?

You might already realize this enables you to sell at a good price, but you’re also in a great position to get the best terms to suit your needs.

According to the latest Realtors Confidence Index from the National Association of Realtors (NAR), the average home sold is receiving 4.8 offers. That’s why there’s a good chance you’ll get offers from multiple buyers who are willing to compete for your house. When you do, you should look closely at the terms of each offer to find out which one has the best options for you.

And if you have questions at any point in the process, remember your trusted real estate advisor can help. They’re experts who understand the fine print, know how to compare the terms of various offers, and will help you select the best one for your situation.

Bottom Line

If you’re thinking of selling your home, know buyer demand in today’s market gives you a great opportunity to get the best terms and price when you sell your house. Let’s connect today to discuss how much leverage you have as a seller in today’s market.

Why Rising Mortgage Rates Push Buyers off the Fence

A Walk Around Downtown Orange

If you’re thinking about buying a home, you’ve probably heard mortgage rates are rising and have wondered what that means for you. Since mortgage rates have increased over two percentage points this year, it’s natural to think about how this will impact your homeownership plans.

Today, buyers are reacting in one of two ways: they’re either making the decision to buy now before rates climb higher or they’re waiting it out in hopes rates will fall. Let’s look at some context that can help you understand why so many buyers are jumping off the fence and into action rather than waiting to buy.

A Look Back: How the Current Mortgage Rate Compares to Historical Data

One factor that could help you make your decision to buy now is how today’s mortgage rates compare to historical data. While higher than the average 30-year fixed rate in recent years, the latest rates are still comparatively low when you look at the bigger picture of where rates have been since 1971 (see graph below):

Mark Fleming, Chief Economist at First Americanexplains it like this:

“. . . historical context is important. An average 30-year, fixed mortgage rate of 5.5 percent is still well below the historical average of nearly 8 percent.”

If you’re deciding whether to buy now or wait, this is important context to have. Today’s mortgage rate still gives you a window of opportunity to lock in a rate that’s comparatively lower than decades past.

A Look Ahead: What Happens if Rates Climb Further

The buyers who are springing into action now are also motivated to make their move because they know rates have risen steadily this year, and they’re eager to get ahead of any further increases.

Why? When mortgage rates climb, they impact the monthly mortgage payment you’ll have on the home you’re buying. Basically, it’ll likely cost you more to buy a home if you wait. Experts say mortgage rates will rise (although more moderately) in the months ahead. Odeta Kushi, Deputy Chief Economist at First Americanexplains:

“. . . ongoing inflationary pressure remains likely to push mortgage rates even higher in the months to come.”

So, if you’re ready and financially able to buy now, it may make more sense to get off the fence and make your purchase sooner rather than later. As Nadia Evangelou, Senior Economist at the National Association of Realtors (NAR), says:

With even higher interest rates on the horizon, I don’t see any reason to hold off from purchasing a home right now. If you feel financially secure, you should start looking for a home.”

At the end of the day, there is no perfect advice on when to buy a home. What you should do depends on your goals, your finances, and your personal situation. Use this information with the help of local real estate professionals to make an informed decision on what’s best for you. The Mortgage Reports sums it up best:

“. . . if you’re on the fence about whether to buy now or wait for a better deal, buying sooner rather than later might be wise. That said, home buying is always a personal decision. Whether you should buy in 2022 depends on your financial situation and the local housing market where you live.”

Bottom Line

For many buyers, rising mortgage rates are motivating them to act now and make a purchase before rates rise higher. To decide what move is best for you, let’s connect so you have expert advice on your side.

Happy Father’s Day

little girl with dad dressed in super heroes, happy loving family, father and daughter playing outdoors, family values

It is 2022 and dad doesn’t want a tie and probably hasn’t since 1955. According to TheShelf.com, in 2020 ties were finally beaten as the most frequently gifted Father’s Day item. The pandemic caused self-care gifts for dad to be the new king of gifts.

So, what does dad really want now?

Fatherhood today is a study of evolution. Dads lead, guide, protect and love more than ever. Most new dads know how to play Minecraft and are willing to battle creepers and morning traffic to give kids what they need. So it makes sense that ties and razors are no longer the most desired gifts.

Dads today are more apt to appreciate brands like Lego and Levi’s over Barbasol and Gillette. But what they really want is time and experiences with people who matter to them. You’re better off giving your presence for a cool family experience (think – a day by the water or a trip to an artisan ice cream shop).

When asked, most dads indicated they’d love to have a meal with their kids. It doesn’t even have to be somewhere special; the go-to family restaurant or diner is just fine.

Whether you are celebrating a dad who is 26 or 60, it seems that the gift of time with family and friends will never go out of style.

Happy Father’s Day!

How Buying or Selling a Home Benefits the Economy and Your Community

Real estate agent holds a wood house to exchange with his client after signing a home purchase contract, idea for real estate, moving or renting a property.

If you’re thinking of buying or selling a home, chances are you’re focusing on the many extraordinary ways it’ll change your life. But do you know it has a large impact on your community too?

To measure that impact, the National Association of Realtors (NAR) releases a report each year to highlight just how much economic activity a home sale generates. The chart below shows how the sale of both a newly built home and an existing home impact the economy:

You may be wondering: how can a single home sale have such a major effect on the economy?

For starters, there are multiple industries that play a role in the process. Numerous contractors, specialists, lawyers, town and city officials, and so many other professionals are all necessary at various stages during the transaction. Every individual you work with, like your trusted real estate advisor, has a team of professionals involved behind the scenes.

That means when you buy or sell a home, you’re leaving a lasting impression on the community at large. Let the knowledge that you’re contributing to those around you while also meeting your own needs help you feel even more empowered when you decide to make your move this year.

Bottom Line

Homebuyers and sellers are economic drivers in their community and beyond. Let’s connect so you have a trusted real estate advisor on your side if you’re ready to get started. It won’t just change your life; it’ll make a powerful impact on your entire community.

What Does the Rest of the Year Hold for the Housing Market?

Minimal two quotes symbol on blue background. 3d rendering.

If you’re thinking of buying or selling a house, you’re at an exciting decision point. And anytime you make a big decision like that, one thing you should always consider is timing. So, what does the rest of the year hold for the housing market? Here’s what experts have to say.

The Number of Homes Available for Sale Is Likely To Grow

There are early signs housing inventory is starting to grow and experts say that should continue in the months ahead. According to Danielle Hale, Chief Economist at realtor.com:

“The gap between this year’s homes for sale and last year’s is one-fifth the size that it was at the beginning of the year. The catch up is likely to continue, . . . This growth will mean more options for shoppers than they’ve had in a while, even though inventory continues to lag pre-pandemic normal.”

  • As a buyer, having more options is welcome news. Just remember, housing supply is still low, so be ready to act fast and put in your best offer up front.
  • As a seller, your house may soon face more competition when other sellers list their homes. But the good news is, if you’re also buying your next home, having more options to choose from should make that move-up process easier.

Mortgage Rates Will Likely Continue To Respond to Inflationary Pressures

Experts also agree inflation should continue to drive up mortgage rates, albeit more moderately. Odeta Kushi, Deputy Chief Economist at First Americansays:

“… ongoing inflationary pressure remains likely to push mortgage rates even higher in the months to come.”  

  • As a buyer, work with trusted real estate professionals, including your lender, so you can learn how rising mortgage rate environments impact your purchasing power. It may make sense to buy now before it costs more to do so, if you’re ready.
  • As a seller, rising mortgage rates are motivating some homeowners to make a move up sooner rather than later. If you’re planning to buy your next home, talk to a trusted real estate advisor to decide how to time your move.

Home Prices Are Projected To Continue To Climb

Home prices are forecast to keep appreciating because there are still fewer homes for sale than there are buyers in the market. That said, experts agree the pace of that appreciation should moderate – but home prices won’t fall. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:

“Prices throughout the country have surged for the better part of two years, including in the first quarter of 2022. . . Given the extremely low inventory, we’re unlikely to see price declines, but appreciation should slow in the coming months.” 

  • As a buyer, continued home price appreciation means it’ll cost you more to buy the longer you wait. But it also gives you peace of mind that, once you do buy a home, it will likely grow in value. That makes it historically a good investment and a strong hedge against inflation.
  • As a seller, price appreciation is great news for the value of your home. Again, lean on a professional to strike the right balance of the best conditions possible for both selling your house and buying your next one.

Bottom Line

Whether you’re a homebuyer or seller, you need to know what’s happening in the housing market, so you can make the most informed decision possible. Let’s connect to discuss your goals and what lies ahead, so you can pick your best time to make a move.

Zackry Where Do You Get All That Energy???

rocksLately and many times in the past I have been asked “Zackry where do you get all your energy from?”  I get all of my energy from building power on a daily basis.  My power is built on living in 4 dimensions of my life.  These 4 dimensions, in this order, are my Body, Being, Balance, and Business.  I have learned that in life you can talk all day about what you want to do, but in the end the only thing that matters is the results.  Results don’t lie.  They tell the true story.  I have been coached to gamify my life in these 4 dimensions of Body, Being, Balance, and Business.  Everyday I work to hit a “single” in each dimension.  In my past I would focus on trying to hit a homerun vs. trying to be consistent in hitting a single on a daily basis.  The odds of hitting a home run daily are far less than that of hitting a single.  I have learned that if I can hit a single daily I can create a lot of power, or what some would call endless energy.

First dimension is starting with Body.  Body is first because you have to have a fit body to be able to help others.  If you are out of shape and not taking care of yourself, it is going to be very hard to take care of others.  Each day I score myself a ½ point for finding a way to sweat for the day.  Now some days I sweat more than others but the question is, did I sweat today?  If so, I get a ½ point.  The next Body score is Fuel at ½ point.  Did I drink a green smoothie today?  I will not go into the benefits of a green smoothie but they are countless and you can do the research.

Second dimension is Being.  Being starts with a ½ point for meditation.  Did I meditate today?  This can be 1 minute to 10 minutes, your choice.  The question is, did you take time to shut down the brain for a moment and take time for yourself?  In taking this time it creates the space to stay out of “reaction” and not get caught up in “worldly” ways.  The next ½ point in Being is reflection.  Did I take a moment to reflect and journal?  Some days my journal entries are long and others it can be short and sweet.  Many of my journal entries are spurred by meditations, so it is very easy to journal if I meditate.

Third dimension is Balance.  I score a ½ point in taking a moment to appreciate and love my queen, aka my wife.  I do this by sending her a love note, a text, a video, and any other ways I can share my appreciation for her.  The next ½ point in Balance is family.  I take time for my son, brothers, mother, father, etc.  I reach out or take a moment to check in, the same way I appreciate my wife.

Fourth dimension is Business.  The first ½ point is to discover something new in business.  That can be a podcast, an article, a coaching cd, a webinar, etc.  The key is I discover something new.  The next ½ point is to take that discovery and declare it.  Meaning share what I have learned with others.  This includes clients, referral partners, team members, family, etc.  The key is to take what I have learned and share it with an individual or individuals.

I have learned that my power and energy is off the charts in the days I live in all 4 dimensions, and score a daily total of 4 points.  Somedays are not perfect and I have to remember playing the simplest form of the game is key in completing all 4 dimensions.  My morning routine knocks out most of the dimensions before my day even gets underway.  I am always striving for a perfect score of 4 daily, and 28 at the end of the week and record my scores daily.  There is no coincidence that my days are more productive, my relationships deeper, my reactions are more patient, my energy levels are high, and my results are off the charts on a week of scoring a 28.  I challenge you to gamify your life, hit singles, live in all 4 dimensions, and get the results you truly desire and deserve.  I love to share and help people with their personal journeys, so I welcome your calls and emails.  Let’s play the game together and create an abundance of energy on a day to day basis.  You deserve it.  Until next time I thank you for being a part of my life.

Be well my friends,

Zackry Cooper

Referrals are the lifeblood of my business.  I am never too busy for your referrals.

Consistency Is Our Brand Both Personally and Professionally

Recently I have been reading a lot and being coached a lot on consistency. At first I was thinking about how this applies in my business life. What we do over and over again that impacts individuals lives and also what do we do as a team consistently that creates the outcomes we desire for our clients. And then I thought about a consistent branding for our team. Like the 18 Day Closed Transaction that we are known for. And as I delved into this this subject it started to creep in how consistency really shows up in all areas of my life. How am I consistent with my wife and making sure that I always do certain things, or acts, speak, chores, etc. for her to count on? Am I consistent in going to the gym? Being consistent to certain reoccurring meetings. Being consistent in keeping contact with friends and family. Being consistent in things I share with my son. For example: taking him to his weekly swim lessons or waking up with him every morning and sharing some quality time. Coming home every night to give my wife a huge hug and take a moment to hear how her day was. Being consistent in waking up every morning and going through my morning ritual before the rest of the house awakens. My coach once told me he “lives a boring life.” He does the same things over and over again but always get the results he desires. At first I did not really relate with this message. As some of you know or don’t know I like “shiny objects” or I get excited about new ideas. But as I have continued to think about this concept of consistency I realize this is my brand both personally and professionally. Consistency is my brand and it is how I want to be known in those whom I encounter both professionally and personally. “That Zackry guy…..he is always at his sons swim lessons, he is always at the meeting every week doing his part, he is always in the office at 9a every morning, he always makes it to his gym appointment with his workout partner, he always calls me on my birthday……” I am really looking at this subject in a new light and thinking about commitments to reoccurring events or tasks. I’m choosing to be very selective in what I commit to in order to be consistent. If I can’t be consistent then I need to gracefully say no. I am also being very careful of those shiny objects. I am choosing to first find the consistency in everything I do day to day. I am super focused on the fundamentals or priorities that I have identified first before allowing anything else in. I want to look back after every week and consistently work through these items and reflect in how I personally showed up and look for consistency. We play many roles in life as I am a husband, father, son, brother, coworker, team leader, friend, nephew, and many more. One of my commitments to be consistent is in my communication with clients. I will share with you my journey in life and keep contact throughout the years. Thank you for allowing me to be a part of your life and the people you know – something I do not take lightly and respect greatly. I leave you with thinking about where you are consistent in your own life and where possibly there may be some inconsistency? I will be working hard on being more consistent and welcome hearing about your journey. Be well my friends.

Sincerely,

Zackry Cooper

PS I am always here for you and the people you know. I appreciate any introductions you can make to myself and team.

“It’s not what we do once in a while that shapes our lives, it’s what we do consistently.”
– Anthony Robbins

The Must Have Home Buying Guide For Anyone Thinking of Buying A Home

Buying  A Home Guide    I wanted to let you know I have completed a guide for individuals wanting to buy a home.  Whether you are a first time  homebuyer or a repeat buyer there is a lot of great info for you to review.  If you would like me to email me you a FREE COPY of the guide just let me know.  This is a MUST HAVE for all buyers thinking of buying a home in 2015.    – Zackry Cooper  925.338.9225