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Experts forecast a 1.5% to 3.6% increase in home values for 2025, with mortgage rates averaging 6.4%. The market slightly favors sellers, but local dynamics play a crucial role. Homeowners may see value increases and are encouraged to consider improvements. Early planning is vital for buyers and sellers alike.
Strategic home upgrades, both minor and substantial, can significantly enhance aesthetic appeal and increase resale value. Projects like painting the front door, updating hardware and lighting, refreshing bathroom fixtures, and landscaping are effective. Careful color and material choices, as well as professional assistance, are recommended for optimal results.
Last December, when the Federal Reserve projected a series of benchmark rate cuts in the coming year, some analysts speculated that mortgage rates—which had recently peaked near 8%—would fall closer to 6% by mid-2024.1,2,3 Unfortunately, persistent inflation has delayed the central bank’s timeline and kept the average 30-year mortgage rate hovering around 7% so far …
From wildfires to floods, the past few years have brought a historic number of devastating climate and weather events to the United States. In 2023 alone, there were 28 individual weather-related disasters that caused at least $1 billion in damages each.1 These events triggered a huge influx of home insurance claims, and analysts expect the …
There’s an old adage in real estate: location, location, location. But ever since the Federal Reserve began its series of inflation-fighting interest rate hikes last year, a new mantra has emerged: mortgage rates, mortgage rates, mortgage rates. Higher rates had the immediate impact of dampening homebuyer affordability and demand. But this year, we’re seeing further …
Over the past few years, a real estate buying frenzy bid up home prices to eye-popping amounts. However, as mortgage rates have risen, buyer demand has cooled. 1 Consequently, home sellers who enter the market today may need to reset their expectations. The reality is, it’s no longer enough to stick a “for sale” sign …
