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Looking to buy a home but feeling like almost everything is out of reach? Here’s the thing. There’s still a way to become a homeowner, even when affordability seems like a huge roadblock – and it might be with a fixer upper. Let’s dive into why buying a fixer upper could be your ticket to homeownership and how you can make it work.

What Is a Fixer Upper?

A fixer upper is a home that’s in livable condition but needs some work. The amount of work varies by home – some may need cosmetic updates like wallpaper removal and new flooring, while others might require more extensive repairs like replacing a roof or updating plumbing.

Because they need some elbow grease, these homes typically have a lower price point, based on local market value. In fact, a survey from StorageCafe explains that fixer uppers generally cost about 29% less than move-in-ready homes.

And that’s why, according to a recent survey, more buyers are considering homes that need a little extra work right now (see below):

If you're looking for an option to get your foot in the door, and you're willing to roll up your sleeves and do a bit of work, a house with untapped potential may be a good option.

Tips for Buying a Home That Needs Some Work

Before you buy a home that may need a makeover, here are a few things to keep in mind:

• Choose a Good Location: You can repair a house, but you can’t change where it is. Make sure the home is in a neighborhood you like or one with increasing property values and a growing number of local amenities. This way, even after you spend money fixing it up, the house will be worth more later.
• Budget for Surprises: Fixing up a house can take more time and money than you might think. Make sure you save room in your budget for unexpected repairs or other unknowns that might come up while you're working on the house.
• Get a Home Inspection: Before you buy, hire an inspector to check out the house. They’ll help you determine the necessary repairs, so you don’t end up with expensive surprises later.
• Plan Your Priorities: When deciding what to tackle first, it helps to categorize your goals. Think of your home in three ways: the must-haves (essential repairs), the nice-to-haves (upgrades that would make life easier), and the dream-state features (luxuries you can add later). This will help you prioritize and stick to your budget.

Remember, the perfect home is the one you perfect after buying it. By starting with a fixer upper, you have the opportunity to customize a home to your liking while saving money on the initial purchase price. With careful planning, budgeting, and a little bit of vision, you can turn a house that needs some love into your perfect home. 

Real estate agents are great at finding homes with potential. They know the local market and can guide you to homes where smart upgrades can add value. With their help, you’re more likely to find a house that fits your total budget and has room for worthwhile improvements.

Bottom Line

In today’s market, where the cost of homeownership can be intimidating, finding a move-in-ready home that fits your budget can feel like a real challenge. But if you’re open to putting in a little work, you can transform a fixer upper into your ideal home over time. Let’s explore what’s possible and find a place that'll work for you.

With everything feeling more expensive these days, it’s natural to worry about how rising costs might impact the housing market. Many people are concerned that high prices and tighter budgets could cause more homeowners to fall behind on their mortgage payments, leading to a wave of foreclosures.

But before you start worrying about a housing market crash, here’s a look at what’s really happening. And the good news is: the latest foreclosure data shows there’s no wave on the horizon.

How Today’s Market Is Different from 2008

Let’s ease those fears by looking at the bigger picture. The graph below uses research from ATTOM, a property data provider, to show that the number of homeowners starting the foreclosure process is nowhere near what we saw coming out of 2008. Back then, there was a big spike in how many foreclosures were happening. Today, the number is much lower – it's even dropped some in the latest report. There’s a big difference between what’s happening now, and what happened when the housing market crashed (see graph below):

Just in case you’re wondering why the number of foreclosure filings has ticked up slightly since 2020 and 2021, here’s what you need to know. During those years, there was a moratorium (shown in white) designed to help millions of homeowners avoid foreclosure in challenging times. That’s why the numbers for just a few years ago were so incredibly low. If you look further back, it’s clear overall foreclosure filings are down significantly.

And if you’re wondering: how are there fewer foreclosures today, even when the cost of living has gotten so pricey? Here’s your answer. One of the main reasons is that homeowners today have a lot more equity built up in their homes than they did back in 2008. As an article from Bankrate explains:

“In the years after the housing crash, millions of foreclosures flooded the housing market, depressing prices. That’s not the case now. Most homeowners have a comfortable equity cushion in their homes.” 

This equity acts like a safety net and is allowing many homeowners to avoid going into foreclosure if they’re facing financial hardships. Even if someone is struggling to make their monthly payments, they may be able to sell their home and avoid foreclosure altogether. This is a far cry from the conditions during the crash when homeowners owed more on their mortgages than their homes were worth.

What’s Ahead for the Housing Market

It’s true that today’s higher cost of living across the board is a challenge for many people right now. But this doesn’t mean we’re heading for a surge in foreclosures. 

The equity cushion that people have is helping to keep foreclosure filings low. Today’s homeowners have more options to avoid going into foreclosure.

Bottom Line

Yes, everyday costs for gas and food have gotten more expensive—but that doesn’t mean the housing market is on the brink of another foreclosure crisis. Data shows the market is far from a foreclosure wave. Homeowners today are in a much stronger financial position than they were during the 2008 crash, thanks to significant equity. 

If your goal is to sell your house in 2025, now’s the time to start prepping. Even though it might seem like there’s plenty of time between now and the new year, you should get a head start on any updates or repairs you want to make now. As Danielle Hale, Chief Economist at Realtor.com, says:

“ . . . now is the time to start thinking about what you need for your next home and then taking those steps to prepare to list . . . We have survey data that says 47 percent of sellers are taking longer than a month to get their home ready to sell, so getting them to start that process early can mean more flexibility.”

By starting your prep work early, you’ll give yourself plenty of time to get your house market-ready by the end of the year. But be sure to partner with a great agent before you get started, so you have expert insight into what repairs are worth it based on your local market.

Why Starting Early Is Key

To get the best price and sell quickly, it’s important that your home looks its best. And that means it’s up to you to make the necessary repairs, declutter, and even consider updates that could add value as part of getting your house ready to list.

By starting now, you can tackle things one task at a time. Whether it’s fixing that leaky faucet, refreshing your landscaping, or painting a room, getting an early start gives you the flexibility to do the job right and with as little stress as possible. Because, if you wait to knock items off your list later on, they could quickly stack up and get overwhelming. As Realtor.com explains:

“There are some important repairs to make before selling a house, so don’t be in too much of a hurry to get your home listed … if you move too fast, buyers see right through the fact that you skipped important home renovations. And this . . . might end up costing you time and money.”

What Should You Focus On?

Feeling motivated to start chipping away at that to-do list, but not sure where to start? Here’s a look at the most common improvements other sellers are making today (see graph below):

The Importance of Working with a Local Agent

And while that data gives you a starting point, it shouldn’t be seen as a comprehensive list. What buyers want in your area may be different, and only a local agent will have this in-depth understanding.

For example, if homes in your area are selling quickly with updated kitchens, your agent might suggest focusing on minor kitchen improvements rather than spending money on other areas that won’t offer as much return. They’ll also help you figure out if tackling larger projects, such as replacing your roof or upgrading your HVAC system, is worth it based on other recently sold homes. As Point says:

“Not all renovations are created equal, and focusing on upgrades that offer the highest potential for increasing your home's value is key.”

And remember, it’s not just big-ticket items that can have an impact. Your agent will also speak to some of the smaller details – like cleaning up your yard, adding fresh mulch, or painting your front door – to make a real difference in how buyers feel about your home. This type of expert eye is crucial to help your house sell fast and for top dollar.

Bottom Line

Thinking of selling your house next year? Don’t wait until the last minute to get it ready. By getting a head start now, you can ensure everything is in place by the time the new year rolls around.

Need advice on what to tackle first? Let’s connect. 

Curious about where the housing market is headed in 2025? The good news is that experts are offering some promising forecasts, especially when it comes to two key factors that directly affect your decisions: mortgage rates and home prices.

Whether you're thinking of buying or selling, here’s a look at what the experts are saying and how it might impact your move.

Mortgage Rates Are Forecast To Come Down 

One of the biggest factors likely affecting your plans is mortgage rates, and the forecast looks positive. After rising dramatically in recent years, experts project rates will ease slightly throughout the course of 2025 (see graph below):

While that decline won’t be a straight line down, the overall trend should continue over the next year. Expect a few bumps along the way, because the trajectory of rates will depend on new economic data and inflation numbers as they’re released. But don’t get too hung up on those blips and reactions from the market as they happen. Focus on the bigger picture.

Lower mortgage rates mean improving affordability. As rates come down, your monthly mortgage payment decreases, giving you more flexibility in what you can afford if you buy a home.

This shift will likely bring more buyers and sellers back into the market, though. As Charlie Dougherty, Director and Senior Economist at Wells Fargo, explains:

“Lower financing costs will likely boost demand by pulling affordability-crunched buyers off of the sidelines.”

As that happens, both inventory and competition among buyers will ramp back up. The takeaway? You can get ahead of that competition now. Lean on your agent to make sure you understand how the shifts in rates are impacting demand in your area.

Home Price Projections Show Modest Growth

While mortgage rates are expected to come down slightly, home prices are forecast to rise—but at a much more moderate pace than the market has seen in recent years.

Experts are saying home prices will grow by an average of about 2.5% nationally in 2025 (see graph below):

This is far more manageable than the rapid price increases of previous years, which saw double-digit percentage growth in some markets.

What’s behind this ongoing increase in prices? Again, it has to do with demand. As more buyers return to the market, demand will rise – but so will supply as sellers feel less rate-locked.

More buyers in markets with inventory that’s still below the norm will put upward pressure on prices. But with more homes likely to be listed, supply will help keep price growth in check. This means that while prices will rise, they’ll do so at a healthier, more sustainable pace.

Of course, these national trends may not reflect exactly what’s happening in your local market. Some areas might see faster price growth, while others could see slower gains. As Lance Lambert, Co-Founder of ResiClub, says:

“Even if the average national home price forecast for 2025 is correct, it’s possible that some regional housing markets could see mild home price declines, while some markets could still see elevated appreciation. That has been, after all, the case this year.”

Even the few markets that may see flat or slightly lower prices in 2025 have had so much appreciation in recent years – it may not have a big impact. That’s why it’s important to work with a local real estate expert who can give you a clear picture of what’s happening where you’re looking to buy or sell.

Bottom Line

With mortgage rates expected to ease and home prices projected to rise at a more moderate pace, 2025 is shaping up to be a more promising year for both buyers and sellers.

If you have any questions about how these trends might impact your plans, let’s connect. That way you’ve got someone to help you navigate the market and make the most of the opportunities ahead.

Homeowners typically slow down their moving plans as the summer months wrap up, and as a result, fewer homes are listed for sale in the fall. It’s a predictable, seasonal trend in real estate. But this year, mortgage rates came down at the same time the number of homes on the market usually starts to decline. So, what happened? More homeowners decided to sell, so more homes came to the market.

The most recent data from Realtor.com reveals that in September, the number of homes put up for sale increased by 11.6% compared to this time last year.

As the green circle in the graph below shows, the typical September decline in homes coming to the market didn’t happen – that number actually went up (see graph below):

Ralph McLaughlin, Senior Economist at Realtor.com, explains why there was an unseasonable rise:

“This sharp increase is largely due to the decline in mortgage rates in mid-August, enticing homeowners to sell.” 

So, as rates came down at the end of the summer, more people jumped into the market and decided to make their move.

What Does This Mean If You’re Looking To Buy a Home?

It means more fresh options to choose from than you’ve had in a while – not the ones that have been sitting around, unsold.

But keep in mind, mortgage rates have been volatile lately, ticking up slightly in recent weeks, which could limit the number of people who feel comfortable with the idea of selling in the months ahead. And in this market, it’s mortgage rates that are largely driving homeowner decisions.

Why Buy Now, Rather Than Wait?

Whether you're looking for a starter home, an upgrade, or hoping to downsize, you have more homes to choose from right now. And if you can find what you’re looking for, know that these new, fresh options won’t be on the market forever. So, staying on top of what’s available in your local area with a trusted agent is key.

And remember, one month doesn’t make a trend. So, what does that mean going forward? Whether more homeowners than normal continue to put their houses on the market will largely depend on what happens with mortgage rates and the economic factors that impact them, like inflation, employment, and the reactions by the Federal Reserve.

With that in mind, now might be your moment, while more homes are available – if you’re ready, willing, and able to buy this fall.

Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:

“The rise in inventory – and, more technically, the accompanying months’ supply – implies home buyers are in a much-improved position to find the right home and at more favorable prices.”

Bottom Line

As rates came down at the end of the summer, sellers started to trickle back into the market, which means buyers have more choices right now. Let’s connect to make sure you have a trusted advisor to help you navigate the new options before they’re all scooped up. 

For some buyers, there’s a misconception that newly built homes aren’t made to last or fall short of the quality you can find in older homes. Unfortunately, this is turning some buyersaway from what may be one of their best options in today’s housing market. As Builder Online says:

“As resale inventory remains limited and the price spread between new and resale homes narrows, new homes are increasingly an attractive value proposition for buyers, with incentives such as rate buydowns a way to help address ongoing affordability challenges.”

So, is there any merit to the myth? Let’s break down the best way to make sure you feel good about looking into new home construction. That way, you’re not missing out on such a great option today.

Choosing the Right Builder

The key to making sure you get a quality newly built home is to choose a good builder. Reputable builders adhere to strict building codes and standards, use advanced construction techniques, and often offer warranties that cover structural issues for several years. That’s why the Mortgage Reports offers this advice:

“When embarking on the journey of buying a new construction home, one of the most important steps is selecting the right builder. This decision can significantly impact the quality and satisfaction you derive from your new home.”

And while you could dig into research about all the builders in your area, there’s an easier option to get the job done: lean on a pro. When you work with a local real estate agent, they already know about the builders and the new home communities under construction in your area. 

Beyond that, maybe they’ve even worked with other buyers who opted for a home in one of those neighborhoods. Here are just a few of the things your agent will help you with:

1. The Builder’s Reputation: Your agent will help point you toward builders with strong reputations and positive reviews from previous buyers. Additionally, your agent will make sure the builder is licensed and insured. Membership in professional organizations, such as the National Association of Home Builders (NAHB), is also a good sign of a builder’s commitment to industry standards.

2. Their Model Homes: Your agent will also be able to tell you if the builders have model homes you can tour. And when your agent walks through the model with you, they’ll draw your attention to the little details that matter most. Things like the quality of finishes, layout, and overall feel of the home.

3. Builder Warranties: Your agent will also be able to help you navigate any builder offers or incentives. Reputable builders often provide warranties to cover major structural elements of the home for a significant period of time. This is a testament to their confidence in the quality of their construction. 

4. Getting Inspections: Even with new homes, inspections are crucial. Your agent will coordinate the inspections with licensed professionals to ensure the home meets safety and quality standards before you move in.

Agents Are the MVP When You’re Buying a Brand-New Home

Maybe that’s why data shows homebuyers unanimously scored their agents higher than their builders when looking back on their recent purchase:

So, you don’t need to worry that they just don’t make them like they used to. By working with a knowledgeable real estate agent to choose a reputable builder, you can feel confident when buying a newly built home today. As Realtor.com says:

“If you are interested in buying a new construction . . . You need your own real estate agent from the get-go. Even if it seems like plug and play to sign up with the builder’s on-site agent, you’re going to want someone representing your side of the deal.”

Bottom Line

If you’re considering buying a brand-new home, don’t let misconceptions hold you back. Let’s work together to find a home you’ll love and be proud to call your own.

If you’re toying with the idea of selling your house, you’re probably wondering how much it’ll cost. To be honest, the final number will depend on several factors like the offer you accept, if you help with your buyer’s closing costs, how many repairs you tackle, and more.

So, to give you a ballpark of what to expect, here’s some information on a few of the expenses you’ll want to be ready for (see graph below):

But here’s something that puts those costs into perspective. Most homeowners today have a substantial amount of equity built up in their homes, and that means they stand to make significant gains when they sell. Chances are, you do too. This can help quickly recoup these selling costs. You may even have enough equity leftover to put some toward your next home purchase too.

Let’s dive into a few of the costs from the graph above, so you have a bit more context on what they include and where you may be able to save some money, when it makes sense.

Closing Costs and Commission

These are the fees you’ll pay at the closing table to cover various aspects of the sale. You’ll have your own closing costs and you may even offer to pay some of the buyer’s as a concession. As U.S. News Real Estate explains:

“Closing costs are fees that are paid to finalize the transaction and transfer ownership of the home to the buyer . . . Sellers can expect to pay 2% to 4% of the sale price of the home in fees and taxes on top of the agent commission. Based on the national median home sale price, this means that closing costs in 2023 for sellers are about $7,740 to $15,480. . .”

Taxes are going to vary by state and agent commissions depend on what you agree upon upfront. And keep in mind, that the numbers in the chart above are just an example, not exact figures. Not to mention, if you put money toward things like your property taxes, mortgage escrow, etc. as part of your current mortgage payments – there's a chance you’ll get a credit back at closing that can help offset some of these selling expenses.

Pre-Listing Inspection and Repairs

One optional step some sellers take is having a pre-listing inspection. It gives you an idea of what may pop up later on in the buyer’s inspection – because those are the items a buyer may ask you to toss in a credit (or concession) to cover later on.

This allows you to get a jump on any repairs and tackle them before you list, so your house is set up to impress from the start.

Again, if you want to skip this step, an agent can help. They’ll be able to give you advice on things like paint colors, small cosmetic repairs, what buyers are looking for, and whether it’s worth tackling anything else ahead of time. This will help make sure you’re spending money on things that are most likely to net you a solid return on your investment.

Home Staging

As inventory grows, you may want to take a few extra steps to make sure your house stands out. Staging is an optional way to make sure your house shows well. It can include bringing in rental furniture if the house is vacant or art to warm up the walls. Some staging can even be done virtually once the photos are taken. But, in general, how much does it cost? According to Bankrate:

“Home sellers typically pay somewhere between $782 and $2,817 in home staging costs . . . but the price tag can vary widely.”

If you want to skip this step, you could opt to lean on your agent’s advice for what looks good and what may feel cluttered. A great agent will suggest things like removing a chair to open up the flow of a room, laying down a rug to add warmth to a space, or taking down photographs to de-personalize strategic areas.

Why Leaning on an Agent Is Key

If you’re looking to cut down on your costs, you have options. But be careful of where you trim. You may be able to skip staging or a pre-listing inspection since those are optional, but you don’t want to skimp and sell without a pro.

An agent is your go-to expert throughout the transaction. They’ll offer customized advice every step of the way, including how to stage the house and what repairs to tackle. This can help you avoid hiring an outside stager or having to pay for a pre-listing inspection.

But that’s not the only way your agent adds value. They’ll also create tailored marketing and pricing strategies that’ll highlight the house’s best assets and any work you did to get the home show ready. And that can actually help your house sell for more in the long run.

Bottom Line

Want a better picture of what you should expect when you sell your house? Let’s have a conversation and walk through it together.

Seeing your house sit on the market without any bites is the ultimate frustration. And unfortunately, some sellers are in that tricky spot today.

According to data from the National Association of Realtors (NAR), the average time a house spends on the market has increased over the past few years (see graph below):

A recent post from Realtor.com notes a similar trend:

“During the week ending Sept. 14, homes stayed on the market eight days longer compared to last year. With more choices available and mortgage rates expected to fall, buyers are taking their time, which means sellers will need to be patient and flexible.”

Some of that is because inventory has gone up, so buyers have more options. And higher mortgage rates have definitely slowed demand over the past two years, and that’s out of your control. But here’s the secret. There’s something you can control – it's also where those other sellers missed the mark. They didn’t work with the right agent.

Make no mistake, with the right strategy and agent partner, your house can still sell quickly, even today.

If time matters to you, you need to partner with an agent who understands this shifting market. That agent will be your go-to resource on what buyers are looking for right now, and how to position your home to hit the mark.

Here are just a few tips a great real estate agent will walk you through. They may seem simple, but advice like this can make all the difference.

1. Competitive Pricing: One of the most critical factors in selling your home quickly is setting the right price. A local real estate agent will do a competitive market analysis by reviewing recent sales and current listings for your area. Then, they’ll use that data to make sure your home is priced accurately for today’s market. This strategic pricing approach is the best way to make sure you’re hitting the sweet spot on price. If you don’t lean on an agent for this, it can really slow your process down. As U.S. News says:

“. . . setting an unrealistically high price with the idea that you can come down later doesn’t work in real estate . . . A home that’s overpriced in the beginning tends to stay on the market longer, even after the price is cut, because buyers think there must be something wrong with it.”

2. The Home’s Condition: Homes that are well maintained, have great curb appeal, and are updated with modern finishes tend to sell faster. So, if speed is a priority, make sure your house makes a great first impression. An agent is a key resource on what buyers will be looking for, if staging is worthwhile, and what repairs you need to tackle before you list. Ramsey Solutions offers this advice:

“In the spirit of selling your home fast, take care of things now that will be a problem in the closing process. Talk to your agent about fixes you’ll need to make to pass the home inspection, like: plumbing problems, roof damage, electrical issues, HVAC glitches. . . These are issues you’ll be expected to take care of before any buyers close on your house—you might as well get ahead of the game to help your home sell faster.”

3. Incentives and Extras: If you want to stand out from those other homes on the market, offering incentives or concessions, like help with closing costs, a home warranty, or including additional items (like appliances or furniture) with the sale can sweeten the deal for buyers. A real estate agent can suggest the right incentives to offer based on current market conditions and buyer expectations, so you can close the sale even faster.

Bottom Line

Selling a home quickly in a shifting market requires a strategic approach and an in-depth understanding of what buyers want. That’s why partnering with a local real estate agent is so important. As Forbes says:

“When time is of the essence, you can’t afford to take a chance on an inexperienced housing professional. Instead, you’ll want to work with a real estate agent who knows your market and has helped sellers in your situation before.”

Let’s connect to make sure you’re set up for success.

After months of sitting on the sidelines, many homebuyers who were priced out by high mortgage rates and affordability challenges finally have an opportunity to make their move. With rates trending down, today’s market is a sweet spot for buyers—and it’s one that may not last long.

So, if you’ve put your own move on the back burner, here’s why maybe you shouldn’t delay your plans any longer.

As you weigh your options and decide if you should buy now or wait, ask yourself this: What do you think everyone else is going to do?

The truth is, if mortgage rates continue to ease, as experts project, more buyers will jump back into the market. A survey from Bankrate shows over half of homeowners would be motivated to buy this year if rates drop below 6% (see graph below):

With rates already in the low 6% range, we’re not terribly far off from hitting that threshold. The bottom line is, that when they drop into the 5s, the number of buyers in the market is going to go up – and that means more competition for you.

That increased demand will likely push home prices up, which could potentially take away from some of the benefits you'd gain from a slightly lower interest rate. As Nadia Evangelou, Senior Economist and Director of Real Estate Research at the National Association of Realtors (NAR), explains:

“The downside of increased demand is that it puts upward pressure on home prices as multiple buyers compete for a limited number of homes. In markets with ongoing housing shortages, this price increase can offset some of the affordability gains from lower mortgage rates.”

So, while waiting to buy may seem like a smart move, it could backfire if rising prices outpace your savings from slightly lower rates.

What This Means for You

Right now, you’ve got the chance to get ahead of all of that. Today’s market is a buyer sweet spot. Why? Because a lot of other buyers are waiting – which means not as many people are actively looking for homes. That means less competition for you.

At the same time, affordability has already improved quite a bit. Recent easing in mortgage rates has made homeownership more accessible. As Mike Simonsen, Founder of Altos Research, says:

“Mortgage payments on the typical-price home are 7% lower than last year and are 13% lower than the peak in May 2024.”

And while the supply of homes for sale is still low, it's also higher than it’s been in years. According to Ralph McLaughlin, Senior Economist at Realtor.com:

“The number of homes actively for sale continues to be elevated compared with last year, growing by 35.8%, a 10th straight month of growth, and now sits at the highest since May 2020.”

This means you now have more options to choose from than you’ve had in quite a while.

With fewer buyers in the market, improving affordability, and more homes to choose from, you have the chance to find the right one before the competition heats up.

Why Waiting Could Cost You

If you’re waiting for the perfect time to buy, it’s important to understand that timing the market is nearly impossible. The longer you wait, the higher the risk that market conditions will shift—and not necessarily in your favor. As Greg McBride, Chief Financial Analyst at Bankrate, says:

“It’s one of those things where you should be careful what you wish for. A further drop in mortgage rates could bring a surge of demand that makes it tougher to actually buy a house.”

Bottom Line

Don’t wait until you have to deal with more competition and higher prices – you already have the chance to buy a home while we’re in the sweet spot today. Let’s connect to make sure you’re taking advantage of it.