The Eric Stewart Group Blog
Trusted resource for local and national real estate news and trending topics, and everything you need to know about the buying and selling process.
Home Is Where the Heart Is More than Ever This Year There’s no denying the financial benefits of homeownership, but what’s often overlooked are the feelings of gratitude, security, pride, and comfort we get from owning a home. This year, those emotions are stronger than ever. We’ve lived through a time that has truly changed our needs and who we are, and as a result, homeownership has a whole new meaning for many of us. According to the 2021 State of the American Homeowner report by Unison: “Last year, staying home became a necessity and that caused many homeowners to have renewed gratitude for the roof over their head.” As a nation, we continue to work through the challenges of a pandemic that’s pushed us all to new limits. Over the past year and a half, we’ve spent more time than ever at home: working, eating, schooling, exercising, and more. The world around us changed almost overnight, and our homes were redefined. Our needs shifted, and our shelters became a place that protected us on a whole new level. The same study from Unison notes: 91% of homeowners say they feel secure, stable, or successful owning a home 64% of American homeowners say living through a pandemic has made their home more important to them than ever 83% of homeowners say their home has kept them safe during the COVID-19 pandemic It’s no surprise this study also reveals that homeowners are now more emotionally attached to their homes as well:As we’ve learned throughout this health crisis, homeownership can provide the safety and security we crave in a time of uncertainty. That sense of connection and emotional stability genuinely reaches beyond just the financial aspect of owning a home. As JD Esajian, President of CT Homes, LLC, says: “Aside from the financial factors, there are several social benefits of homeownership and stable housing to consider. It has long been thought that buying a home contributes to a sense of accomplishment. Still, most individuals fail to realize that homeownership can benefit your mental health and the community around you.” Whether you’re thinking of buying your first home, moving up to your dream home, or downsizing to something that better fits your changing lifestyle, take a moment to reflect on what Mark Fleming, Chief Economist at First American, notes: “Buying a home is not just a financial decision. It's also a lifestyle decision.” Bottom Line If you’re considering buying a home, it’s not entirely about the dollars and cents. Don’t forget to weigh the non-financial benefits that may truly change your life when you need them most.
How Smart Buyers Are Approaching Rising Mortgage Rates
Our Market Ready Guide provides strategic advice and useful tips to get top dollar for your house when the time comes to sell.
If you live in the DMV, you live within a few hours of so many great places. We're going to share 5 towns you can travel to for a fun day trip within three hours or less! We also included sample itineraries that show just a few examples of places you can eat and things you can do in each town. Let us know if you try out one of these itineraries and let us know how your trip goes!
Whether you’re buying your first home or your third home, there are many mistakes you can make throughout the process. Buying a home involves many steps and lots of decision-making, so it’s easy (and common!) to take a misstep along the way.
If you’re in the process of buying your first house, you’ve probably spent some time thinking about all of the things you need to buy. From furniture to kitchen utensils to tools to cleaning supplies, there’s a lot to get. Keeping track of it all is hard!
If you’re buying a home, you may have wondered if a home inspection contingency is really necessary. With the current market conditions favoring sellers, it may be tempting to waive this contingency to compete better against other buyers. Our advice, however, is to not do this! Home inspections allow you the opportunity to find any issues–big or small–that you may want to take care of before you move in. You may even decide to terminate the deal and find another house if the inspection comes back with undesirable results. One of our recent clients, for example, waived their home inspection contingency against our guidance. They ended up facing a $12,000 repair after moving in! We don’t want this to happen to you, so don’t waive this contingency! Check out this video from Realtor® Robert Garcia for more insight on the significance of home inspections.
What will the 2021 housing market look like? Will there be a home sale crash? Are we going to see the market fall apart? Eric Stewart touches on these questions in his new video below. This January saw 400,000 homes on the market compared to 750,000 homes in January of 2020. This low inventory paired with a large supply of potential buyers has led to a strong, competitive market and multiple offer scenarios. A lot of people wonder if these conditions will continue in 2021. Eric Stewart thinks that they will remain for the foreseeable future. He predicts we’re likely to see continued limited supply for the next seven or eight years as housing stock is not being created fast enough for buyer demand. What does this mean for those hoping to buy or sell this year? For those looking to sell, you’re going to be in a great position to get top dollar throughout the rest of this year. For those looking to buy, you should find an agent who will look out for your best interests and know how to beat out other buyers. In any case, head to our home page for more information.
When it comes to selling your home, there are plenty of mistakes you could potentially make. Selling a home is a complex process, so you should be aware of some of the more common mistakes people make so you can avoid them. Here are 7 common mistakes you can avoid:
One important part of the homebuying and -selling process is finding the right Realtor®. Who you work with matters, and you deserve to find an agent that’s a good fit for you!
We are facing yet another holiday that looks a little different this time around, but that doesn't mean we can't celebrate! We've put together this list of ideas for you and your significant other, so you can still enjoy Valentine's Day while remaining socially distant and following healthy precautions.