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Warmest Wishes for a Merry Christmas and Happy Holidays!
Warmest Wishes for a Merry Christmas and Happy Holidays!
Our team wants to wish you a very merry Christmas this holiday season. Merry Christmas! We wish you and your loved ones a happy holiday season filled with joy and happiness. We just wanted to express our heartfelt gratitude for your support over the years. It's our pleasure to help your real estate dreams come true. If you have any questions or there's anything we can assist you with, please feel free to call or email. We're here to support you in every step of your real estate journey. In the spirit of the season, have a wonderfully merry Christmas! Here's to a fantastic holiday season and a prosperous New Year ahead.
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What Should You Expect from the 2025 Housing Market?
What Should You Expect from the 2025 Housing Market?
2025 brings lower rates, more inventory, and new financing options for all. The real estate market is constantly evolving, and 2025 is shaping up to be a year filled with exciting opportunities. As we look ahead, several key developments could significantly impact both buyers and sellers. From more favorable interest rates to a surge in inventory and more flexible lending guidelines, 2025 promises to bring growth and activity to the local market. Here’s a closer look at the top three things to expect as we enter the new year. 1. Interest rates are expected to decrease. As the economy improves, interest rates are likely to decline. This is excellent news for both buyers and investors, as lower rates will make homeownership more affordable. While we’ve all felt the strain of high rates in recent years, I believe we’ll see a shift as we move into 2025. 2. More inventory will hit the market. For the past few years, the market has faced a significant shortage of homes. Thankfully, this is about to change. More inventory is expected to become available, offering buyers more choices and helping to balance the market. 3. New financial programs are on the way. Lending guidelines are set to loosen, and new financial programs will emerge to assist with home financing. This is an exciting development that will provide more opportunities for buyers and increase access to homeownership. 2025 promises to be an exciting year for the real estate market. From the start, we can expect a surge in activity, with more sales and excitement than we’ve seen in recent years. Whether you’re buying or selling, it’s crucial to have a solid plan in place. If you’re looking for specific guidance, call me at (312) 437-7799 or email sohail@sohailrealestate.com. Let’s navigate 2025 together!
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Wishing You a Happy Thanksgiving
Wishing You a Happy Thanksgiving
This year and every year, we’re thankful for you in our lives. The 2024 holiday season has officially begun! We hope you are as excited as we are. We’d like to take a moment to express our gratitude to all of you this Thanksgiving. We have met some truly wonderful people, and we’re proud to have helped so many reach their real estate goals over the years. We wouldn’t be where we are today without all of your support. Enjoy your Thanksgiving dinner—that’s what we plan to do! In the meantime, please don’t hesitate to reach out to us if you have any real estate questions. We would be happy to help you. Happy Thanksgiving!
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What Do Experts Forecast for the 2025 Housing Market?
What Do Experts Forecast for the 2025 Housing Market?
The housing market is set to change in 2025, which is why I’m breaking down what the experts are forecasting for interest rates, prices, and demand. Right now, the No. 1 question I’m getting is, “What’s going to happen to the housing market in 2025?” I get it; a lot of people had plans to move this year but put things on hold due to higher mortgage rates and a slowing market. This begs the question: Will 2025 be any different? The short answer is yes, although there probably won’t be a dramatic shakeup that flips the market on its head. Today, I’m going over what the top experts are forecasting for mortgage interest rates, home prices, and buyer demand in 2025. Plus, I’ll share my insights on how you can get ready for these changes before the new year even starts: 1. Mortgage rates will ease slightly. It’s no secret that higher mortgage interest rates have hurt affordability for buyers and caused our market to slow down. U.S. existing home sales hit a 14-year low in September 2024, and one of the biggest reasons why is that would-be buyers are sitting on the sidelines waiting for rates to drop. While Fannie Mae and Freddie Mac aren’t predicting rates to crash to where they were a few years ago, most experts believe rates will fall below the 6% mark for the first time since Q2 of 2022. Since mortgage rates are a key factor in housing affordability, this is fantastic news for buyers sitting on the fence. “Buyers need to take advantage of this window before it’s too late.” 2. Home prices will increase slightly. While home prices have stagnated recently or even come down in some areas of the country, prices are projected to rise in 2025. Different institutions have varying forecasts, but prices are expected to rise 2.6% when you average their predictions. This is a modest increase compared to what we’ve seen over the last few years, but it projects stability for our market. Homeowners don’t have to worry about prices crashing, while things will stay relatively affordable for new buyers. 3. More buyers will enter the market. Lower interest rates and steady prices mean demand for homes will increase. According to the Senior Economist at Wells Fargo, “Lower financing costs will likely boost demand by pulling affordability-crunched buyers off of the sidelines.” As these buyers enter the market, the pace will speed up. Homes will sell faster, competition will increase, and supply will decrease as more buyers fight over fewer options. So what does this all mean for you? If you want to sell, 2025 is looking to be a great year for the market, so I recommend you start planning your move now so you can get a head start. On the other hand, buyers need to act fast. There will be a very short window where rates are lower, but home prices haven’t increased yet. If you’d like to plan for 2025, whether you’re looking to sell or buy, please call or email me. I’d love to help you plan your next move!
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Why Should I Stage My Home Before Selling?
Why Should I Stage My Home Before Selling?
Discover how staging benefits home sellers in today’s market. Over the last few weeks, I’ve met with numerous sellers who were unsuccessful on the market during spring and summer. They had the wrong approach or agent and missed the mark. Now, they’re asking me the same questions: "Should I stage my home and how?" The simple answer is yes, and here are three reasons why: 1. The home is empty. Staging is a must if your home is vacant. An empty home can feel lifeless and unwelcoming to potential buyers. However, staging fills that void, creating a more inviting atmosphere that encourages buyers to imagine themselves living there. 2. You don’t have the right furniture. Staging is crucial if your existing furniture doesn’t match the age or style of your home. The right furniture enhances the overall appeal and ensures that each room looks its best, making it easier for buyers to appreciate the home’s features. "The secret to staging is understanding how to utilize furniture to enhance the use of space." 3. You don’t have enough furniture. Sometimes, a home doesn’t have enough furniture to demonstrate its potential effectively. Staging can help balance the space and provide a visual guide for buyers on how to utilize each area. The secret to staging is understanding how to utilize the furniture to enhance the use of space. Good stagers know how to add depth and scale to room sizes, ensuring that the flow throughout the home is seamless. For instance, if a room feels small, the right furniture arrangement can create an illusion of spaciousness. On the other hand, if a room is too large, strategically chosen pieces can help make it feel cozier and more inviting. If you’re considering selling your home, reach out to us for a 15-minute consultation, and we’ll share a comprehensive plan from prep to staging to entering the marketplace. Just call (312) 437-7799 or email sohail@sohailrealestate.com to get started.
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Should I Pre-Inspect My House Before Selling?
Should I Pre-Inspect My House Before Selling?
How pre-inspections can improve your home’s condition, give you leverage in negotiations, and help you sell your house faster. Do you need to sell your home fast? In this market, that’s no easy task. Due to higher interest rates, home prices, and lower demand, you can’t just throw your home on the MLS and expect it to sell in a couple of days. That being said, you can still sell quickly in this market; you just need to put in a little work. That’s why I always recommend my sellers do a pre-listing inspection if they want to spend as little time on market as possible. Here are three key benefits of pre-inspecting your home: You can hit the market with a clean product. The bottom line is that homes in better condition sell faster and for more money. Think about your pre-inspection like certifying a used car. Certified cars are a more desirable product, so people will be willing to pay more money faster. On the other hand, buyers will try to draw things out and get every opportunity in negotiations if your house is an unknown quantity. “If you take care of issues upfront, buyers won’t ask for concessions at closing.” You can fix major issues before hitting the market. As an agent, I’ve seen this situation play out too many times: My client finds the perfect buyer who is willing to give them everything they want and more. However, this buyer finds some major problem during the inspection process, and the deal is off. A pre-inspection will help you find any “dealbreakers” you need to take care of ahead of time, which will protect your sale. Pre-inspections give you leverage at negotiations. When you have a better product, you can ask for more concessions. Whether you want a quick sale, more money, or better terms, you need leverage to get what you want. One of the worst things that can happen during negotiations is for your buyer to use repairs as a negotiating point. By addressing issues upfront and creating more demand for your home, you can go into negotiations with a stronger position and get what you really want. Hopefully, you understand why pre-inspections are so important. If you want to sit down for a pre-listing consultation, just call or email me. It’s 100% free, and there’s no obligation to hire with me if things don’t work out or you change your mind about selling. I look forward to hearing from you!
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