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So let’s assume you bought a house in 2023 at the height of our most recent mortgage interest rates. You are paying around 7-7.5%. If you bought your home for around $400,000, your payment is likely around $2,800/month (taxes & insurance included).

While the headlines and real estate agents around you are chattering about “now is the best time to buy in the past 5 years” and “buyer demand is up, sell now!”
What ACTUALLY might be best for you is looking into a refinance. At today’s rates, and assuming you have paid off a tiny bit of your principal loan balance, if you were to refinance your new payment would be around $2,368/month.

That is a savings of over $400/month!

So, why would your real estate agent be encouraging you to stay IN your home rather than moving? It is because my goal is to have you as a client for life. And that means guiding you in AND outside of real estate moves. It means being there for you through the moves, the saving of money, the renovation projects, the downsizing, the needing more space, and everything in between.

If this sounds attractive to you, give me a shout and I will connect you with one of my trusted lenders to open up the option to save!

RealEstateTips #HomeBuying101 #NewHome #MoveInDay #MIRealEstate #realestate #newyearnewhome #investing #realestateinvesting

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As your local real estate agent, it is my job to be constantly monitoring trends, changes, and predictions so that I am prepared to guide you when the time comes to make your move. We are in the final quarter of 2024, and while I expect things won’t stray too far from where they have been so far in 2024, here are three things I see being the forefront of real estate trends in Detroit and surrounding for the rest of the year:

1. As the cooler months approach, the market tends to experience a slight dip in activity. You may notice fewer listings, more price drops, and a slower pace as people focus on the holidays.

2. Limited inventory has been an ongoing issue, and this trend is likely to persist through the fall. Buyers may face competition, especially for well-priced and move-in-ready homes.

3. With fewer buyers in the market during the fall and early winter, sellers may be more open to negotiating their price lower or more flexibility on repairs.

What happens in Q4 could dictate your move in 2025. Let’s chat now to avoid having a hard conversation later! What’s your plan?

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