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The Secret To Selling Your House in Today’s Market
Article from Keeping Current MattersA few years ago, homes were flying off the shelves and getting multiple offers well over their asking price. It felt like you could name your price and still have buyers lined up at the door.
But today’s housing market is different. Buyers are getting more selective now that inventory has grown. Homes are sitting a little longer. And more sellers are having to cut their prices.
So, how do you still come out on top? It all starts with one thing, pricing your house right from the start. Today, that matters more than ever – and it can make or break your sale. So what is the Secret to Selling your house in today’s market? It starts with hiring the Best Realtor who has experience selling homes in your market!
There’s a Real Price Disconnect Between Buyers and Sellers
A recent survey from Realtor.com shows 81% of home sellers believe they’ll get their asking price or more. But the actual sales data shows there’s a growing gap between what sellers expect and what buyers are actually willing to pay.
In fact, an annual report from the National Association of Realtors (NAR) shows 44% of recently sold homes went for less than the asking price. And 1 in 3 sellers had to cut their price at least once before the home sold. It’s a sign that expectations may be a little out of step with today’s reality.
Check out the graph below. It uses data from Redfin to show that asking prices (blue line) are higher than actual sales prices (green line) by a wider and wider margin:
This tells you something important: not all buyers are willing to pay what many sellers are asking. That doesn’t mean you can’t sell for a great price – but it does mean you need to start with a price that reflects what people are willing to pay in today’s market.
What Happens When You Overprice Your House?
Pricing your house high initially may seem like a smart move, so you have more room to negotiate. But the reality is, an overpriced home can sit on the market and turn buyers away.
Buyers are smart. And when they see a house that’s been sitting for a while, they start to wonder what’s wrong with it. That can lead to fewer showings, less interest, and eventually, a price cut to re-ignite attention. As Realtor.com explains:
“By getting the right price early on, you can increase the odds buyers will be interested in the home. In turn, this decreases the chances the home will sit on the market for a lengthier timeline, also reducing the odds you’ll need to lower the listing price.”
The longer a house sits, the harder it can be to sell.
You Still Have a Great Opportunity – If You Price Your House Right
To avoid making this mistake, it’s important to lean on an agent who knows what’s happening locally when you set your asking price.
Your agent will look at recent local sales, buyer trends, and inventory levels to find that pricing sweet spot for your neighborhood – because it’s going to be different based on where you live.
And here’s something else to keep in mind, home prices have climbed more than 57% over the past five years. So, even if you price a bit below the number you had your sights set on, you’ll likely still be in a great position profit-wise.
With a local real estate agent’s help, you’ll attract more attention, avoid seeing your house sit on the market too long, and maximize your chances of getting a strong offer.
In today’s market, the right price works. As Mike Simonsen, Founder of Altos Research, explains:
“. . . the best properties, well priced are selling quickly in most of the country.”
Bottom Line
The market has changed, but your opportunity to sell hasn’t. You just need the right pricing plan and the Best Realtor and Most Experienced Realtor helping you along the way! Let’s walk through what’s happening with prices in our area and determine what price would help your house sell quickly and for top dollar.
Twila Bertrand, Striving to be the Best Realtor in Angelina County!
CENTURY 21 Cota Realty
210 E Lufkin Ave, Lufkin Tx 75901
Serving Buyers and Sellers in Lufkin, Huntington, Nacogdoches, and all over East Texas since 2o12!
The Secret To Selling Your House in Today’s Market
Do You Think the Housing Market’s About To Crash? Read This First
Do You Think the Housing Market’s About To Crash? Read This First
Lately, it feels like a lot of people have been asking the same question: “Is the housing market about to crash?”
If you’ve been scrolling through social media or watching the news, you might have seen some pretty scary headlines yourself. That’s why it’s no surprise that, according to data from Clever Real Estate, 70% of Americans are worried about a housing crash in 2025.
But before you hit pause on your plans to buy or sell a home, take a deep breath. The truth is: the housing market isn’t about to crash – it’s just shifting. And that shift actually works in your favor.
Today’s Inventory Keeps the Housing Market from Crashing
Mark Fleming, Chief Economist at First American, says:
“There’s just generally not enough supply. There are more people than housing inventory. It’s Econ 101.”
Think about it. If there’s a shortage of something – like tickets to a popular concert – prices go up. That’s what’s been happening with homes. We still have a shortage of supply. Too many buyers and not enough homes push prices higher.
Check out the white line for 2025 in the graph below. Even though the number of homes for sale is climbing, data from Realtor.com shows we’re still well below normal levels (shown in gray):
That ongoing low supply is what’s stopping home prices from dropping at the national level. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:
“… if there’s a shortage, prices simply cannot crash.”
More Homes for Sale Means Price Growth Is Easing
And, as more homes become available, that takes some of the intense upward pressure off home price growth – leading to healthier price appreciation.
So, while prices aren’t falling nationally, growing inventory means they also aren’t rising as fast as they were. What we’re seeing is price moderation (see graph below):
And according to Freddie Mac, that moderation should continue through the rest of this year:
“In 2025, we expect the pace of house price appreciation to moderate from the levels seen in 2024, while still maintaining a positive trajectory.”
Put simply, that means prices will continue going up in most areas, just not as quickly. That’s good news for anyone who’s been having trouble finding a home and feeling sticker shock from the rapid price appreciation of the past few years.
But of course, what’s happening with prices and inventory is going to vary by local market. So, talk to your agent to find out what’s happening where you live.
Bottom Line
Don’t let the talk scare you. Experts agree that a housing market crash is unlikely in 2025. As Business Insider reports:
“. . . economists who study housing market conditions generally do not expect a crash in 2025 or beyond unless the economic outlook changes.”
Instead, we’re heading into a housing market that’s healthier and more balanced, with slower price growth and more opportunity.
Let’s chat about what’s happening in our local market and how you can make the most of it.
Twila Bertrand, Realtor
CENTURY 21 Cota Realty
210 E Lufkin Ave, Lufkin Tx 75901
Experienced and Dedicated Realtor Serving Lufkin, Huntington, Nacogdoches, and all of East Texas since 2012!
Mortgage Rates Hit Lowest Point So Far This Year
Mortgage Rates Hit Lowest Point So Far This Year
If you’ve been holding off on buying a home because of high mortgage rates, you might want to take another look at the market. That’s because mortgage rates have been trending down lately – and that gives you a chance to jump back in. But did you know that Mortgage Rates hit the lowest point so far this year recently?
Mortgage Rates Hit Lowest Point So Far This Year
(see graph below):
While that may not sound like a significant shift, it is noteworthy. Because the meaningful drop from over 7% to the mid-6’s can change your mindset when it comes to buying a home. Especially when the forecasts said we wouldn’t hit this number until roughly Q3 of this year (see graph below):
Why Are Rates Coming Down?
According to Joel Kan, VP and Deputy Chief Economist at the Mortgage Bankers Association (MBA), recent economic uncertainty is playing a role in pushing rates lower:
“Mortgage rates declined last week on souring consumer sentiment regarding the economy and increasing uncertainty over the impact of new tariffs levied on imported goods into the U.S. Those factors resulted in the largest weekly decline in the 30-year fixed rate since November 2024.”
And the timing of this recent decline is great because it gives you a little bit of relief going into the spring market. Just remember, mortgage rates can be a quickly moving target, so you should expect some volatility going forward. But the window you have as they’re coming down right now might be the sweet spot for your purchasing power now.
What Lower Rates Mean for Your Buying Power
Even small changes in rates can make a difference to your monthly payment. Here’s how the math shakes out. The chart below shows what a monthly payment (principal and interest) would look like on a $400K home loan if you purchased a house when rates were 7.04% back in mid-January (this year’s mortgage rate high), versus what it could look like if you buy a home now (see below):
In just a matter of weeks, the anticipated payment on a $400K loan has come down by over $100 per month. That’s a significant savings. When you’re making a decision as big as buying a home, every bit counts.
Just remember, shifts in the economy drove rates down faster than expected. But that can change, making rates volatile in the days and months ahead. So, if you’re waiting for rates to fall further before you buy, think hard about the current window of opportunity if you’re ready to act.
Bottom Line
Mortgage rates have dipped, giving buyers a bit more immediate breathing room. If you’ve been waiting for rates to ease before jumping in, this could be your window.
Would a lower monthly payment make buying a home feel more doable for you? Let’s break down the numbers and find out.
Twila Bertrand, Realtor
CENTURY 21 Cota Realty
210 E Lufkin Ave, Lufkin Tx
936-208-7631
twilabertrand@gmail.com
Why a Pre-Listing Inspection May Be Worth It in Today’s Market
Why a Pre-Listing Inspection May Be Worth It in Today’s Market
Selling a house comes with a lot of moving pieces, and the last thing you want is a deal falling apart over unexpected repairs uncovered during the buyer’s inspection. That’s why it pays to anticipate potential issues before buyers ever step through the door. And one way to do that is with a pre-listing inspection.
What Is a Pre-Listing Inspection?
A pre-listing inspection is essentially a professional home inspection you schedule before putting your house on the market. Just like the inspections your buyer will do after making an offer, this process identifies any issues with the condition of your house that could have an impact on the sale – like structural problems, faulty or outdated HVAC systems, or other essential repairs.
While it’s a great option if you’re someone who really doesn’t like surprises, Bankrate explains this may not make sense for all sellers:
“While it can be beneficial for a seller to do, a pre-listing inspection isn’t always necessary. For example, if your home is relatively new and you’ve been the only owner, you’re most likely already aware of any big issues that could impact a sale. But for an older home, a pre-listing inspection can be very insightful and help you get ahead of any potential problems.”
The key is deciding whether the benefits outweigh the costs for your situation. Sometimes a few hundred dollars now can get you information that’ll save you a lot of time and hassle later on.
Why It May Be Worth Considering in Today’s Market
Right now, buyers are more cautious about how much money they’re spending. And they want to be sure the home they’re buying is worth the expense. In a market like this, a pre-listing inspection can be your secret weapon to make sure your house shows well. Here are just a few ways it can help:
- Gives You Time To Make Repairs: When you know about issues ahead of time, it gives you the chance to fix them on your schedule, rather than rushing to make repairs when you’re under contract.
- Avoid Surprises During Negotiations: When buyers discover issues during their own inspection, it can lead to last-minute negotiations, price reductions, or even a deal falling through. A pre-listing inspection gives you a chance to spot and address any problems ahead of time, so they don’t turn into last-minute headaches or negotiation roadblocks.
- Sell Your House Faster: According to Rocket Mortgage, if your house is listed in the best shape possible, there won’t be as many reasons for buyers to ask for concessions. That means you should be able to cut down on negotiation timelines and ultimately sell faster.
How Your Agent Will Help
But before you think about reaching out to any inspectors to get something scheduled, be sure to talk to an agent. Your agent will be able to give you advice on whether a pre-inspection is worthwhile for your house and the local market. Because it may not be as important if sellers still have the majority of the negotiation power where you live.
If your agent does recommend moving forward and getting one done, here’s how they’ll support you throughout the process.
- Offer Advice on How To Prioritize Repairs: If the inspection uncovers problems,your agent will sit down with you and offer perspective on what’s going to be a sticking point for buyers so you know what to prioritize.
- Knowledge of How To Handle Any Disclosure Requirements: After talking to your agent, you may decide not all of the repairs are worth it right now. Just be ready to disclose what you’re not tackling. Some states require disclosures as a part of a listing – lean on your agent for more information.
Bottom Line
While they’re definitely not required, pre-listing inspections can be especially helpful in today’s market. By understanding your home’s condition ahead of time, you can take control of the process and make informed decisions about what to fix before you list and what to disclose.
If you choose to skip this step, you may be just as surprised as your buyer by what pops up in their inspection. And that could leave you scrambling. Would you rather fix issues now or risk trying to save the deal later?
Let’s connect so you can see if this is a step that makes sense in our market.
Twila Bertrand, Realtor
CENTURY 21 Cota Realty
210 E Lufkin Ave
Lufkin, Tx 75901
Helping Buyers and Sellers in Lufkin, Huntington, Nacogdoches, and all over East Texas since 2012!
Click the link below for my Zillow websites with tons of client testimonials!
Do You Know How Much Your Home Is Worth?
Do You Know How Much Your Home Is Worth?
Over the past few years, you’ve probably seen a whole lot of headlines about how home prices keep going up. But have you ever stopped to think about what that actually means for your home and Do you Know how much your home is actually worth?
Home prices have risen dramatically over the past five years — far more than usual. And if selling has been on your mind, this could mean a bigger-than-expected payday when you list. So, how much has your home’s value really changed? Let’s break it down.
The Rapid Rise of the Past 5 Years
Typically, home prices go up by about 2-5% a year. But in 2021-2022, there were double-digit increases. And at the peak, prices rose by a staggering 20% or more nationally. Why? There were way more buyers than homes available, which sent prices soaring. While things have normalized since then, you still get to reap the benefits of those massive increases.
Your house has gained way more value than it normally would in such a short period of time – and that means a lot more wealth for you, too.
The map below uses data from the Federal Housing Finance Agency (FHFA) to show that, nationally, prices have gone up by nearly 60% in just the past 5 years alone. Here’s a breakdown that takes that one step further and gives you the numbers by state:
If you’ve been holding off on selling because you were worried about buying your next home at today’s rates and prices, let that sink in. It may be more than enough to help close the affordability gap and get you into your next house.
And what if you’ve been there for longer? That means your home’s value is probably even higher now. You get to stack the abnormal gains of the past 5 years on top of five years of more normal appreciation too. And an agent can help you figure out what that really looks like.
How To Find Out What Your House Is Really Worth
While a percentage is great, you probably want more specific numbers. The only way to get an accurate look at what your house is really worth is to talk to a local real estate agent.
While the map above gives you the average appreciation rate by state, it doesn’t take your local market into consideration. Like, is inventory still low where you live? That may drive prices higher, and faster. Or maybe you’ve done renovation that’ll add even more value to your house. Those are insights you’ll need an agent to provide.
An agent will know what’s happening where you live and can stack that up against the data and the condition of your home to give you the best estimate of its value possible. Only they have the data and expertise to find out your real number today.
Bottom Line
Home values have climbed — maybe more than you expected. Are you curious about what your house is worth in today’s market? Let’s connect so you can find out.
Twila Bertrand, Realtor
CENTURY 21 Cota Realty
210 E Lufkin Ave
Lufkin, Tx 75901
Serving Buyers and Sellers in Lufkin, Huntington, Nacogdoches, and all of East Texas since 20121
How To Buy a Home Without Waiting for Lower Rates
How To Buy a Home Without Waiting for Lower Rates
Many people are hoping mortgage rates will come down before they buy a home. But will that actually happen? According to the latest forecasts, experts say rates will decline, but not by as much as a lot of people want.
The good news? Even if they don’t drop substantially, there are still ways to make buying a home more affordable.
How Much Will Rates Drop?
A few months ago, experts were forecasting mortgage rates could dip below 6% by the end of the year. But recent projections suggest that may not happen after all.
While mortgage rates are still expected to decline some later this year, projections from Fannie Mae, the Mortgage Bankers Association (MBA), and Wells Fargo now show them stabilizing closer to 6.5% by the end of the year (see below):
That means if you’re holding off on buying a home in hopes of much lower mortgage rates, you may be waiting a while. And if you need to move because something in your life has changed, like a new job, a new baby, or a marriage – waiting that long may not be an option.
Creative Financing Options in Today’s Market
Since rates aren’t expected to decline as much as originally expected, it may be worth considering alternative financing options that could help you get into a home sooner rather than later. Here are three strategies to discuss with your lender to see if any of these make sense for you:
1. Mortgage Buydowns
A mortgage buydown allows you to pay an upfront fee to lower your mortgage rate for a set period of time. This can be especially helpful if you want or need a lower monthly payment early on. In fact, 27% of agents say first-time homebuyers are increasingly requesting buydowns from sellers in order to buy a home right now.
2. Adjustable-Rate Mortgages
Adjustable-rate mortgages (ARMs) typically start with a lower mortgage rate than a traditional 30-year fixed mortgage. This makes them an attractive option, especially if you expect rates to drop in the coming years or plan to refinance later.
And if you remember the housing crash, know that today’s ARMs aren’t like the risky ones back then. Lance Lambert, Co-Founder of ResiClub, helps drive this point home by saying:
“. . . ARM products today are different from many of the products issued in the mid-2000s. Before 2008, lenders often approved ARMs based on borrowers ability to pay the initial lower interest rates. And sometimes they didn’t even check that (remember Ninja loans). Today, adjustable-rate borrowers qualify based on their ability to cover a higher monthly payment, not just the initial lower payment.”
In simple terms, banks used to give loans without checking to see if buyers could afford them. Now, lenders verify income, assets, and jobs, reducing the risks associated with ARMs compared to the past.
3. Assumable Mortgages
An assumable mortgage allows you to take over the seller’s existing loan — including its lower mortgage rate. And with more than 11 million homes qualifying for this option according to U.S. News, it’s worth exploring if you want or need a better rate.
Bottom Line
Waiting for a big decline in mortgage rates may not be the best strategy. Instead, options like buydowns, ARMs, or assumable mortgages could make homeownership more affordable right now. Connect with a local lender to explore what works for you.
How does this impact your homebuying plans this year?
Twila Bertrand, Realtor
CENTURY 21 Cota Realty
210 E Lufkin Ave, Lufkin Tx
936-208-7631
The Secret To Selling? Using an Agent To Get Your House Noticed
The Secret To Selling? Using an Agent To Get Your House Noticed
In a recent survey, the National Association of Realtors (NAR) asked sellers what they want most from a real estate agent. The number one answer was to help market their house. So what is the Secret to to Selling? Using an experienced and trusted Agent to get your house noticed to the largest pool of buyers possible!
It makes sense. The way your agent markets your house can be the difference between whether or not it stands out and gets attention from buyers. That’s why it’s so important to work with an expert local agent that knows what they’re doing.
According to that same report from NAR, here are some of the most common methods real estate agents use to market homes, and how you benefit when your agent uses them effectively (see graph below):
- Listing on the MLS – Real estate agents have access to the Multiple Listing Service (MLS) database. And that’s great for you because having your house on the MLS helps it get more visibility from other agents and buyers. And the more people who see it, the more likely it is to sell.
- Using a Yard Sign – A yard sign may seem simple, but it’s one of the best ways to catch the attention of people driving or walking by. And when it does, they’ll help spread the word to friends and family who are looking to buy that there’s a house for sale in the area. It also puts your agent’s contact information on display, making it easy for interested buyers to get in touch.
- Having an Open House – An open house is a great way to create a sense of competition and urgency among buyers – and that can lead to stronger offers. And since you’ll only need to leave once for many buyers to visit, it makes the process easier for you, too. Plus, an open house helps your agent get real-time feedback about what buyers love and what they’re not as sold on.
- Showcasing on Your Agent’s Website – Having your house on your agent’s website presents it in a professional way to buyers. And odds are, people visiting your agent’s website are serious and ready to make a move, so this is a smart way to get in front of motivated buyers.
- Social Networking – Posting your house on social helps get your house in front of buyers who may not have seen it with traditional marketing. It also makes it easy for people to share your listing with friends and loved ones.
- Providing Virtual Tours – For buyers who are relocating from out of town, virtual tours allow them to check out your house anytime from wherever they are. This helps reach more potential buyers who may not be able to come to see your house in person.
- Using Video – Video is an excellent way for your agent to show off some of the top features of your house like your kitchen, large closets, outdoor entertainment areas, and other key details that could attract buyers.
- Sending Emails – Sending out information about your house to your agent’s expansive database is another way they’ll get it in front of even more people. Great agents may even send emails teasing that your house is coming to the market as a way to boost interest and excitement before it officially has an open house.
Here’s what it comes down to. Most good agents will write a description of your house for the listing and pair it with high-quality photos. But a great agent will do so much more than that.
They’ll not only lean on their expertise, they’ll put in the time and effort to make sure your house makes an impression on buyers, and ultimately, sells.
Bottom Line
As a seller, working with a creative local real estate agent is a smart way to ensure your house grabs the attention of the right buyers. If you’re ready to sell and want to talk about strategies we can use to get your house sold, let’s chat.
Twila Bertrand, Realtor
CENTURY 21 Cota Realty
210 E Lufkin Ave
Lufkin, Tx 75901
Cell: 936-208-7631
Helping clients in Lufkin, Huntington, Nacogdoches, and all over East Texas since 2012!
A link to my zillow website with tons of buyer and seller reviews from over the years is below!
One Homebuying Step You Don’t Want To Skip: Pre-Approval
One Homebuying Step You Don’t Want To Skip: Pre-Approval
There’s one essential step in the homebuying process you may not know a whole lot about and that’s pre-approval. Here’s a rundown of what it is and why it’s so important right now.
What Is Pre-Approval?
Pre-approval is like getting a green light from a lender. It lets you know how much they’re willing to let you borrow for a home. To determine that number, a lender looks at your financial history. According to Realtor.com, these are some of the documents a lender may ask you for during this process:
- W-2s from the last two years
- Tax returns from the last two years
- Pay stubs from the last 30 days
- Bank statements from the last 60 days
- Investment account statements (if applicable)
- Two years of history of where you’ve lived
The result? You’ll get a pre-approval letter showing what you can borrow. Keep in mind, that any changes in your finances can affect your pre-approval status. So, after you receive your letter, avoid switching jobs, applying for new credit cards or other loans, or taking out large sums of money from your savings.
How It Helps You Determine Your Borrowing Power
This year, home prices are expected to rise in most places and mortgage rates are still showing some volatility. So, since affordability is still tight, it’s a good idea to talk to a lender about your home loan options and how today’s changing mortgage rates will impact your future monthly payment.
The pre-approval process is the perfect time for that. Because it determines the maximum amount you can borrow, pre-approval also helps you figure out your budget. You should use this information to tailor your home search to what you’re actually comfortable with as far as a monthly mortgage payment. That way, you don’t fall in love with a house that’s out of your comfort zone.
How It Helps You Stand Out
Once you find a home you want to put an offer on, pre-approval has another big perk. It not only makes your offer stronger, it shows sellers you’ve already undergone a credit and financial check.
When a seller sees you as a serious buyer, they may be more attracted to your offer because it seems more likely to go through. As Greg McBride, Chief Financial Analyst at Bankrate, says:
“Preapproval carries more weight because it means lenders have actually done more than a cursory review of your credit and your finances, but have instead reviewed your pay stubs, tax returns and bank statements. A preapproval means you’ve cleared the hurdles necessary to be approved for a mortgage up to a certain dollar amount.”
Bottom Line
If you’re planning on buying a home, getting pre-approved for a mortgage should be one of the first things on your to-do list. Not only will it give you a better understanding of your borrowing power, it can put you in the best position possible to make a strong offer when you find a home you love. Connect with a trusted lender to learn more.
My direct contact information is below. I am here and happy to help in any way!
Helping Buyers and Sellers with Real Estate in Lufkin, Huntington, Nacogdoches, and all over East Texas since 2012!
Twila Bertrand, Realtor
CENTURY 21 Cota Realty
Email: twilabertrand@gmail.com
Cell# 936-208-7631
Office Address:
1306 N Medford Drive
Lufkin, Tx 75901
A link to my Zillow Profile with tons of client testimonials from over the years is below:
The Truth About Credit Scores and Buying a Home
The Truth About Credit Scores and Buying a Home
Your credit score plays a big role in the homebuying process. It’s one of the key factors lenders look at to determine which loan options you qualify for and what your terms might be. But there’s a myth about credit scores that may be holding some buyers back. Read more for the Truth About Credit Scores and Buying a Home.
The Myth: You Need To Have Perfect Credit
According to Fannie Mae, only 32% of potential homebuyers have a good idea of what credit score lenders actually require.
That means two-thirds of buyers don’t actually know what lenders are looking for – and most overestimate the minimum credit score needed.
The Reality: Perfect Isn’t Necessary
But the truth is, you don’t need perfect credit to become a homeowner. To see the average score, by loan type, for recent homebuyers check out the graph below:
There is no set cut-off score across the board. As FICO explains:
“While many lenders use credit scores like FICO Scores to help them make lending decisions, each lender has its own strategy, including the level of risk it finds acceptable. There is no single “cutoff score” used by all lenders, and there are many additional factors that lenders may use . . .”
So, even if your credit score isn’t as high as you’d like, you may still be able to get a home loan. Just know that, even though you don’t need perfect credit to buy a home, your score can have an impact on your loan options and the terms you’re able to get.
Work with a trusted lender who can walk you through what you’d qualify for.
Simple Tips To Improve Your Credit Score
If you want to open up your options a bit more after talking to a lender, here are a few tips from Experian and Freddie Mac that can help give your score a boost:
1. Pay Your Bills on Time
This includes everything from credit cards to utilities and other monthly payments. A track record of on-time payments shows lenders you’re responsible and reliable.
2. Pay Down Outstanding Debt
Reducing your overall debt not only improves your credit utilization ratio (how much credit you’re using compared to your total limit) but also makes you a lower-risk borrower in the eyes of lenders. That makes them more likely to approve a loan with better terms.
3. Hold Off on Applying for New Credit
While opening new credit accounts might seem like a quick way to boost your score, too many applications in a short period can have the opposite effect. Focus on improving your existing accounts instead.
Bottom Line
Your credit score doesn’t have to be perfect to qualify for a home loan. The best way to know where you stand? Work with a trusted lender to explore your options.
Twila Bertrand, Realtor
CENTURY 21 Cota Realty
1306 N Medford Drive
Lufkin, Tx 75901
Helping Buyers and Sellers with Real Estate in Lufkin, Huntington, Nacogdoches, and all of East Texas since 2012!
The link to my zillow website with listings and client testimonials is below!
Expert Forecasts for the 2025 Housing Market
Expert Forecasts for the 2025 Housing Market
Wondering what’s in store for the housing market this year? And more specifically, what it all means for you if you plan to buy or sell a home? The best way to get that information is to lean on the pros. Here is what the Expert Forecasts for the 2025 Housing Market reveals.
Experts are constantly updating and revising their forecasts, so here’s the latest on two of the biggest factors expected to shape the year ahead: mortgage rates and home prices.
Will Mortgage Rates Come Down?
Everyone’s keeping an eye on mortgage rates and waiting for them to come down. So, the question is really: how far and how fast? The good news is they’re projected to ease a bit in 2025. But that doesn’t mean you should expect to see a return of 3-4% mortgage rates. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:
“Are we going to go back to 4%? Per my forecast, unfortunately, we will not. It’s more likely that we’ll go back to 6%.”
And the other experts agree. They’re forecasting rates could settle in the mid-to-low 6% range by the end of the year (see chart below):
But you should remember, this will continue to change as new information becomes available. Expert forecasts are based on what they know right now. And since everything from inflation to economic drivers have an impact on where rates go from here, some ups and downs are still very likely. So, don’t get caught up in the exact numbers here and try to time the market. Instead, focus on the overall trend and on what you can actually control.
A trusted lender and an agent partner will make sure you’ve always got the latest data and the context on what it really means for you and your bottom line. With their help, you’ll see even a small decline can help bring down your future mortgage payment.
Will Home Prices Fall?
The short answer? Not likely. While mortgage rates are expected to ease, home prices are projected to keep climbing in most areas – just at a slower, more normal pace. If you average the expert forecasts together, you’ll see prices are expected to go up roughly 3% next year, with most of them hitting somewhere in the 3 to 4% range. And that’s a much more typical and sustainable rise in prices (see graph below):
So don’t expect a sudden drop that’ll score you a big deal if you’re thinking of buying this year. While that may sound disappointing if you’re hoping prices will come down, refocus on this. It means you won’t have to deal with the steep increases we saw in recent years, and you’ll also likely see any home you do buy go up in value after you get the keys in hand. And that’s actually a good thing.
And if you’re wondering how it’s even possible prices are still rising, here’s your answer. It all comes down to supply and demand. Even though there are more homes for sale now than there were a year ago, it’s still not enough to keep up with all the buyers out there. As Redfin explains:
“Prices will rise at a pace similar to that of the second half of 2024 because we don’t expect there to be enough new inventory to meet demand.”
Keep in mind, though, the housing market is hyper-local. So, this will vary by area. Some markets will see even higher prices. And some may see prices level off or even dip a little if inventory is up in that area. In most places though, prices will continue to rise (as they usually do).
If you want to find out what’s happening where you live, you need to lean on an agent who can explain the latest trends and what they mean for your plans.
Bottom Line
The housing market is always shifting, and 2025 will be no different. With rates likely to ease a bit and prices rising at a more normal and sustainable pace, it’s all about staying informed and making a plan that works for you.
Let’s connect so you can get the scoop on what’s happening in our area and advice on how to make your next move a smart one.
Twila Bertrand, Realtor
CENTURY 21 Cota Realty
1306 N Medford Drive
Lufkin, Tx 75901
Serving Buyers and Sellers with Real Estate transactions in Lufkin, Huntington, Nacogdoches, and all over East Texas since 2012!
