BP Realty

Looking at homes in person is better than just viewing them online. You can explore the neighborhood, see if repairs are needed, and get a better sense of how large or small the house is—all things that are hard to tell from pictures alone.

You get to see the neighborhood.

You will be able to see the neighborhood, and it is important to know that not all neighborhoods in Grand Haven are created equal.

Some of the things you might want to consider when looking at homes in person are:

• Is the neighborhood safe and quiet?
• Are there friendly neighbors?
• How much traffic is on the street?
• Are there parks nearby or other places for kids to play outside safely?

You can tell if the home is smaller or larger than it looks.

When you look at houses in Grand Haven online, it can be hard to tell how big it really is. Sometimes, the pictures make a home look much larger than it actually is due to editing.

• You can tell if the home is smaller or larger than it looks by looking at the number of windows and doors. A large number of windows and doors means that there are more rooms in the house, which gives you more space for entertaining guests or relaxing after work!
• If you’re looking for a small house in Grand Haven, but don’t want to compromise on size too much, consider looking at townhouses or condos rather than single-family homes.

It’s easier to tell if a house needs any repairs.

When you’re in person, it’s easier to tell if a house needs any repairs. For example, if there’s a crack in the wall or you see a leaky pipe, you’ll be able to see these things right away and ask if they’re being repaired. If they aren’t going to be fixed, this could mean that the owner hasn’t taken care of the property as well as they could have. This is important information when deciding whether or not it’s worth buying this particular home in Grand Haven.

Look at similar homes in the Grand Haven area.

You can learn a lot about a home when you look at similar homes in the area. When you go to see a property, take note of the price per square foot and how it compares to other nearby Grand Haven properties. You can also find out what homes are selling for and what they’ve sold for in the past, which can be useful if you’re looking to negotiate on price or determine if there’s room for improvement on your offer.

You can see the flow of space from room to room.

You can see the flow of space from room to room.

• You can get a feel for how much space you will have in each room, as well as where the rooms are located within the house. For example, if you have a large family and need a lot of extra storage space, it’s safer to purchase a home with an oversized garage than one that has only enough space for two cars and some lawn equipment.
• You can see if there is enough room for your needs and whether or not there are any major flaws in the design of the house (such as lack of common areas).

See the home in natural light and different seasons.

Homes look different in natural light and different seasons, so it’s important to see them under those conditions. A home may look great in a picture, but when you go to see it in person, you might find that it’s dark and gloomy because of the time of day—or even worse, that there are no windows at all!

You also need to consider how each room will feel under different weather conditions. If your family spends a lot of time outdoors in Grand Haven during the summer months, then having natural light streaming into an otherwise dark living room could be critical for making sure everyone is comfortable and happy inside. Looking at homes in person will give you a better idea of how they’ll perform over a yearlong period!

Seeing homes in person helps you make better decisions than your online search ever could.

Looking at houses in Grand Haven in person also has the advantage of letting you see if the home is actually as big as it looks online. You can’t tell if a home needs repairs from online photos, and many times people don’t know what repairs are needed until they go into the house.

Another benefit of seeing homes in person is that you can see whether or not a neighborhood is good for children, pets and your family’s lifestyle. It’s easy to look at online photos and think that the front yard will look like those beautiful landscaped lawns on Pinterest — but what about when it comes time to mow? Also, if there are power lines nearby or train tracks down the street that might be noisy when trains go by (and they do go by), then this could be something worth looking into before purchasing a home.

Homes also need natural light — both inside and out. Websites often show images using artificial lighting instead of natural lighting so buyers may not get an accurate vision of how rooms would appear during regular living hours throughout different seasons or weather conditions (bright sunlight vs cloudy days).

This is not to say that online searches should be abandoned. You can still use the internet to find out information about a home, like its price and size. It’s just that you shouldn’t rely solely on this method—seeing homes in person is the best way to make sure you’re making the right decision when buying or selling property. If you’ve been looking at homes online and you’re interested in touring them, give us a shout! We are just a call/text/email away, and we are happy to answer any questions you may have about finding your perfect Grand Haven home.

Call/Text us at 616-550-7686, or email us anytime at information@bprealtypro.com! We look forward to serving you! 

If you’re a homeowner in Grand Haven, Michigan, odds are your equity has grown significantly over the last few years as home prices skyrocketed and you made your monthly mortgage payments. Home equity builds over time and can help you achieve certain goals. According to the latest Equity Insights Report from CoreLogic, the average borrower with a home loan has almost $300,000 in equity right now.

As you weigh your options, especially in the face of inflation and talk of a recession, it’s important to understand your assets and how you can leverage them. A real estate Specialist is the best resource to help you understand how much home equity you have and advise you on some of the ways you can use it.  Here are a few examples.

1. Buy a Home That Fits Your Needs

If you no longer have the space you need, it might be time to move into a larger home. Or it’s possible you have too much space and need something smaller. No matter the situation, consider using your equity to power a move into a home that fits your changing lifestyle. 

If you want to upgrade your house, you can put your equity toward a down payment on the home of your dreams in Grand Haven!  And if you’re planning to downsize, you may be surprised that your equity may cover some, if not all, of the cost of your next home. A real estate Specialist can help you figure out how much equity you have and how you can use it toward the purchase of your next home.

2. Reinvest in Your Current House

According to a recent survey from Point, 39% of homeowners would invest in home improvement projects if they chose to access their equity. This is a great option if you want to change some things about your living space but you aren’t ready to make a move just yet.

Home improvement projects allow you to customize your home to suit your needs and sense of style. Just remember to think ahead with any updates you make, as some renovations add more value to your home and are more likely to appeal to future Grand Haven buyers than others. For example, a report from the National Association of Realtors (NAR) shows refinishing or replacing wood flooring has a high cost recovery. Lean on a local professional for the best advice on which projects to invest in to get the greatest return on your investment when you sell.

3. Pursue Your Personal Goals

In addition to making a move or updating your house, home equity can also help you achieve the life goals you’ve dreamed of. That could mean investing in a new business venture, retiring or downsizing, or funding an education. While you shouldn’t use your equity for unnecessary spending, leveraging it to start a business in Grand Haven or putting it toward education costs can help you achieve other lifelong goals.

Bottom Line

Your equity can be a game changer. If you’re unsure how much equity you have in your home, let’s connect so you can start planning your next move. Call / Text BP Realty at 616-550-7686, or shoot us an email at information@bprealtypro.com … We look forward to serving you! 

If you’re thinking about buying a home in Grand Haven, you’re likely trying to juggle your needs, current mortgage rates, home prices, your schedule, and more to try to decide if you want to jump into the market.

If this sounds like you, here’s one key factor that could help you with your decision: there are more homes for sale today than there were at this time last year. 

According to Calculated Risk, for the week ending in November 18th, there were 47.7% more homes available for sale than there were at the same time in 2021. And having more options for your home search may be exactly what you need to feel confident about making a move.

Here’s a look at where the increased housing supply is coming from so you can get a better sense of what’s happening in the market today and what it means for you.

What Caused the Growth in Housing Inventory This Year?

The increase we’ve seen in the Grand Haven housing supply this year isn’t from the source you think it is. Rather than an influx of recent homeowners listing their houses for sale (known as new listings), the primary reason the supply has grown is because homes are staying on the market a bit longer (known as active listings).

That’s happening because higher mortgage rates and home prices have helped moderate the peak frenzy of buyer demand, which has slowed down the pace of home sales in Grand Haven. And, as the pace of sales has eased, inventory has grown as a result.While overall inventory gains may slow down this winter due to typical housing market seasonality, you still have a chance to capitalize on the current supply.

What This Means for Your Grand Haven Home Search

Regardless of the source, the increase in available housing supply is good for buyers. More homes in Grand Haven available for sale means you have more options to choose from as you search for your next home, and you may even have more time to consider them.

So, if you tried to buy a home last year and lost out in a bidding war or just couldn’t find something you liked, this may be the news you’ve been waiting for. If you start your search today, those additional options should make it less difficult to find a home you love, especially as some other buyers pause their search this holiday season. 

Just remember, housing supply in Grand Haven is still low overall, so it won’t suddenly be easy – it’ll just be less challenging than it was at this time last year. As a recent article from realtor.com says:

With the rapid shift that’s happened in the Grand Haven housing market this year, some people are raising concerns that we’re destined for a repeat of the crash we saw in 2008. But in truth, there are many key differences between what’s happening today and the bubble in the early 2000s.

One of the reasons this isn’t like the last time is the number of foreclosures in the market is much lower now. Here’s a look at why there won’t be a wave of foreclosures flooding the Grand Haven Housing market.

Not as Many Homeowners Are in Trouble This Time

After the last housing crash, over nine million households lost their homes due to a foreclosure, short sale, or because they gave it back to the bank. This was, in large part, because of more relaxed lending standards where people could take out mortgages they ultimately couldn’t afford. Those lending practices led to a wave of distressed properties which made their way into the market and caused home values to plummet.

But today, revised lending standards have led to more qualified buyers in Grand Haven! As a result, there are fewer homeowners who are behind on their mortgages. As Marina Walsh, Vice President of Industry Analysis at the Mortgage Bankers Association (MBA), says:

“For the second quarter in a row, the mortgage delinquency rate fell to its lowest level since MBA’s survey began in 1979 – declining to 3.45%. Foreclosure starts and loans in the process of foreclosure also dropped in the third quarter to levels further below their historical averages.”

There Have Been Fewer Foreclosures over the Last Two Years

While you may have seen recent stories about the number of foreclosures rising today, context is important. During the pandemic, many Grand Haven homeowners were able to pause their mortgage payments using the forbearance program. The program gave homeowners facing difficulties extra time to get their finances in order and, in many cases, work out a plan with their lender.

With that program, many were concerned it would result in a wave of foreclosures coming to the market. That fear didn’t materialize. Data from the New York Fed shows there are still fewer foreclosures happening today than before the pandemic

That means, while there are more foreclosures now compared to last year (when foreclosures were paused), the number is still well below what the housing market has seen in a more typical year, like 2017-2019.

And most importantly, the number we’re seeing now is still far below the number we saw during the market crash (shown in the red bars in the graph). The big takeaway? Don’t let a headline in the news mislead you. While foreclosures are up year-over-year, historical context is essential to understanding the full picture. (SEE PHOTO) 

Most Homeowners Have More Than Enough Equity To Sell Their Homes

Many Grand Haven homeowners today have enough equity to sell their homes instead of facing foreclosure. Due to rapidly rising home prices over the last two years, the average homeowner has gained record amounts of equity in their home. And if they’ve stayed in their homes even longer, they may have even more equity than they realize. As Ksenia Potapov, Economist at First American, says:

“Homeowners have very high levels of tappable home equity today, providing a cushion to withstand potential price declines, but also preventing housing distress from turning into a foreclosure. . . the result will likely be more of a foreclosure ‘trickle’ than a ‘tsunami.’”

A recent report from ATTOM Data explains it by going even deeper into the numbers:

“Only about 214,800 homeowners were facing possible foreclosure in the second quarter of 2022, or just four-tenths of one percent of the 58.2 million outstanding mortgages in the U.S. Of those facing foreclosure, about 195,400, or 91 percent, had at least some equity built up in their homes.”

Bottom Line 

If you see headlines about the increasing number of foreclosures today, remember context is important. While it’s true the number of foreclosures is higher now than it was last year, foreclosures are still well below pre-pandemic years. If you have questions, let’s connect. Call or text BP Realty anytime at 616-550-7686, or send us an email at information@bprealtypro.com 

 This past year, rising mortgage rates have slowed the red-hot Grand Haven housing market. Over the past nine months, we’ve seen fewer homes sold than the previous month as home price growth has slowed. All of this is due to the fact that the average 30-year fixed mortgage rate has doubled this year, severely limiting home buying power for consumers. And, this month, the average rate for financing a home briefly rose over 7% before coming back down into the high 6% range. But we’re starting to see a hint of what mortgage interest rates could look like next year.

Inflation Is the Enemy of Long-Term Interest Rates

As long as inflation is high, we’ll see higher mortgage rates. Over the past couple of weeks, we’ve seen indications that inflation may be cooling, giving us a glimpse into what may happen in the future for the Grand Haven housing market. The mortgage market is eagerly awaiting positive news on inflation. As Ali Wolf, Chief Economist at Zonda, says:

“The housing market is expected to face continued uncertainty heading into 2023 as consumers, financial markets, and policymakers work through their respective challenges in today’s economy. . . . we are watching for any additional stability in the MBS market, signs of cooling inflation, and/or less aggressive Federal Reserve action to give us confidence that mortgage rates are past their peak.”

What Does This Mean for the Future of Mortgage Rates?

As we get through the inflation battle and start to see that coming down, we should expect mortgage rates to follow. We’ve seen nods of this over the past couple of weeks. As the Federal Reserve works to bring inflation down, mortgage rates will come down as well. Bill McBride from Calculated Risk says:

“My current view is inflation will ease quicker than the Fed currently expects.”

As we look toward next year, we certainly hope he’s right.

Bottom Line

Mortgage rates will come down – it’s just a matter of time. The hope is we continue to see more positive news on inflation, and that’ll bring mortgage rates down. This will give prospective homebuyers more buying power and lead to more homeowners throughout the country.

Call / Text BP Realty at 616-550-7686, or shoot us an email at information@bprealtypro.com … We look forward to serving you! 

Every time there’s a news segment about the housing market, we hear about the affordability challenges buyers are facing today. Those headlines are focused on how much mortgage rates have climbed this year. And while it’s true rates have risen dramatically, it’s important to remember they aren’t the only factor in the affordability equation.

Here are three measures used to establish home affordability: home prices, mortgage rates, and wages. Let’s look closely at each one.

1. Mortgage Rates

This is the factor most people are focused on when they talk about home buying conditions today in Grand Haven. So far, current rates are almost four full percentage points higher than they were at the beginning of the year. As Len Kiefer, Deputy Chief Economist at Freddie Mac, explains:

“U.S. 30-year fixed mortgage rates have increased 3.83 percentage points since the end of last year. That’s the biggest year-to-date increase in rates in over 50 years.”

That increase in mortgage rates is impacting how much it costs to finance a home purchase, creating a challenge for many buyers that’s pricing some out of the market. While the current global uncertainty makes it difficult to project where mortgage rates will go in the future, experts do say that rates will likely remain high as long as inflation does.

2. Home Prices

The second factor at play is home prices. Home prices have made headlines over the past few years because they skyrocketed during the pandemic. Now, the most recent Home Price Index from S&P Case-Shiller shows home values continued to decelerate for a fifth consecutive month. This deceleration is happening because higher mortgage rates are moderating demand, and as a result, easing the buyer competition and bidding wars that previously drove prices up.

What’s worth noting though, is how much higher home prices still are than they were before the pandemic.. Even now, we have a long way to go to get to more normal levels of home price appreciation, which is historically closer to 4%. When both mortgage rates and home prices are high, affordability and your purchasing power become a greater challenge.

3. Wages

The one big, positive component in the affordability equation is the increase in American wages. As the Bureau of Labor Statistics (BLS) reports:

“Median weekly earnings of the nation’s 120.2 million full-time wage and salary workers were $1,070 in the third quarter of 2022 (not seasonally adjusted), the U.S. Bureau of Labor Statistics reported…This was 6.9 percent higher than a year earlier…”

So, when you think about affordability, remember the full picture includes more than just mortgage rates. Home prices and wages need to be factored in as well. Because wages have been rising, they’re a big reason why serious buyers are still purchasing homes in Grand Haven this year.

As Leslie Rouda Smith, President of the National Association of Realtors (NAR), says: “Buying or selling a home involves a series of requirements and variables, and it’s important to have someone in your corner from start to finish to make the process as smooth as possible… and objectivity to deliver trusted expertise to consumers in every U.S. ZIP code.

To learn more about affordability in the Grand Haven Michigan housing market, let’s connect and make sure you have a trusted lender and real estate specialst so you’re able to make an informed decision if you’re planning to buy or sell a home right now. We look forward to serving you! Give us a call or text at 616-550-7686, or email us at information@bprealtypro.com !

As you set out to buy a home in Grand Haven, saving for a down payment is likely top of mind. But you may still have questions about the process, including how much to save and where to start.

 If that sounds like you, your down payment could be more in reach than you originally thought. Here’s why.

The 20% Down Payment Myth: If you believe you have to put 20% down on a home, you may have based your goal on a common misconception. Freddie Mac explains:

“. . . nearly a third of prospective homebuyers think they need a down payment of 20% or more to buy a home. This myth remains one of the largest perceived barriers to achieving homeownership.”

Unless it’s specified by your loan type or lender, it’s typically not required to put 20% down. According to the latest Profile of Home Buyers and Sellers from the National Association of Realtors (NAR), the median down payment hasn’t been over 20% since 2005. There are even loan types, like FHA loans, with down payments as low as 3.5%, as well as options like VA loans and USDA loans with no down payment requirements for qualified applicants.

This is good news for you because it means you could be closer to buying your dream home in Grand Haven than you realize. For more information, turn to a trusted lender, such as West Michigan Mortgage! https://wmimortgage.com/ 

Down Payment Assistance Programs Can Be a Game Changer

A real estate specialist will be able to show you other options that could help you get closer to your down payment goal. According to the latest Homeownership Program Index from downpaymentresource.com, there are over 2,000 homebuyer assistance programs in the U.S., and the majority are intended to help with down payments.

A recent article explains why programs like these are helpful:

“These resources can immediately build your home buying power and help you take action sooner than you thought possible.”

And if you’re wondering if you have to be a first-time buyer to qualify for these programs, that’s not always the case. According to an article from downpaymentresource.com:

“It is a common misconception that homebuyer assistance is only available to first-time homebuyers, however, 38% of homebuyer assistance programs in Q1 2022 did not have a first-time homebuyer requirement.”

There are also location and profession-based programs you could qualify for as well.

The bottom line: Saving for your down payment is an important first step on your home buying journey. Let’s connect today and make sure you have a trusted lender to help explore your options. Call/text us at 616-550-7686, or email us at information@bprealtypro.com ! We look forward to serving you!

Top Questions About Selling Your Home This Winter

There’s no denying the Grand Haven housing market is undergoing a shift this season, and that may leave you with some questions about whether it still makes sense to sell your house. Here are three of the top questions you may be asking – and the data that helps answer them – so you can make a confident decision.

1. Should I Wait To Sell?

Even though the supply of homes in Grand Haven for sale has increased in 2022, inventory is still low overall. That means it’s still a sellers’ market. The graph below helps put the inventory growth into perspective. Using data from the National Association of Realtors (NAR), it shows just how far off we are from flipping to a buyers’ market:

While buyers have regained some negotiation power as inventory has grown, you haven’t missed your window to sell. Your house could still stand out since inventory is low, especially if you list now while other sellers hold off until after the holiday rush and the start of the new year.

2. Are Buyers Still Out There?

If you’re thinking of selling your house in Grand Haven but are hesitant because you’re worried buyer demand has disappeared in the face of higher mortgage rates, know that isn’t the case for everyone. While demand has eased this year, millennials are still looking for homes. As an article in Forbes explains:

“At about 80 million strong, millennials currently make up the largest share of homebuyers (43%) in the U.S., according to a recent National Association of Realtors (NAR) report. Simply due to their numbers and eagerness to become homeowners, this cohort is quite literally shaping the next frontier of the homebuying process. Once known as the ‘rent generation,’ millennials have proven to be savvy buyers who are quite nimble in their quest to own real estate. In fact, I don’t think it’s a stretch to say they are the key to the overall health and stability of the current housing industry.”

While the millennial generation has been dubbed the renter generation, that namesake may not be appropriate anymore. Millennials, the largest generation, are actually a significant driving force for buyer demand in the housing market today. If you’re wondering if buyers are still out there, know that there are still people who are searching for a home to buy today. And your house may be exactly what they’re looking for.

3. Can I Afford To Buy My Next Home?

If current market conditions have you worried about how you’ll afford your next move, consider this: you may have more equity in your current home than you realize.

Grand Haven Homeowners have gained significant equity over the past few years and that equity can make a big difference in the affordability equation, especially with mortgage rates higher now than they were last year. According to Mark Fleming, Chief Economist at First American:

“. . . homeowners, in aggregate, have historically high levels of home equity. For some of those equity-rich homeowners, that means moving and taking on a higher mortgage rate isn’t a huge deal—especially if they are moving to a more affordable city.” 

Bottom Line

If you’re thinking about selling your house this season, let’s connect so you have the expert insights you need to make the best possible move today. Call or text anytime at 616-550-7686, or email us at information@bprealtypro.com 

We look forward to serving you! 

Experts agree there’s no chance of a large-scale foreclosure crisis like we saw back in 2008, and that’s good news for the housing market. As Mark Fleming, Chief Economist at First American, says:

“. . . don’t expect a housing bust like the mid-2000s, as lending standards in this housing cycle have been much tighter and homeowners have historically high levels of home equity, so there likely won’t be a surge in foreclosures.”

Data from the Mortgage Bankers Association (MBA) helps tell this story. It shows the overall percentage of homeowners at risk is decreasing significantly with time (check out the graph! )

But even though the volume of Grand Haven homeowners at risk is very low, there is still a small percentage of homeowners who may be coming face to face with foreclosure as a possibility today. If you’re facing difficulties yourself, it can help to understand your options. It starts with knowing what foreclosure is. Investopedia defines it like this:

“Typically, default is triggered when a borrower misses a specific number of monthly payments . . . Foreclosure is the legal process by which a lender attempts to recover the amount owed on a defaulted loan by taking ownership of and selling the mortgaged property.”

The good news is there are alternatives available to help you avoid going through the foreclosure process on your home in Grand Haven, including:

• Reinstatement
• Loan modification
• Deed-in-lieu of foreclosure
• Short sale

But before you go down any of those paths, it’s worth seeing if you have enough equity in your home to sell it and protect your investment.

You May Be Able To Use Your Equity To Sell Your House

Equity is the difference between what you owe on the home and its market value based on factors like price appreciation.

In today’s real estate market, many homeowners in Grand Haven have far more equity in their homes than they realize due to the home price appreciation we’ve seen over the past few years. According to CoreLogic:

“The total average equity per borrower has now reached almost $300,000, the highest in the data series.”

So, what does that mean for you? If you’ve lived in your house in Grand Haven for at least a few years or more, chances are your home’s value, and your equity, has risen dramatically. In addition, the mortgage payments you’ve made during that time chipped away at the balance of your loan. If your home’s current value is higher than what you still owe on your loan, you may be able to use that increase to your advantage.

Rick Sharga, Executive VP of Market Intelligence at ATTOM Data, explains how equity can help:

“Very few of the properties entering the foreclosure process have reverted to the lender at the end of the foreclosure. . . We believe that this may be an indication that borrowers are leveraging their equity and selling their homes rather than risking the loss of their equity in a foreclosure auction.”

Lean on Experts To Explore Your Options

To find out how much equity you have, work with a local real estate specialist. They can give you an estimate of what your house could sell for based on recent sales of similar homes in your area. You may be able to sell your house in Grand Haven to avoid foreclosure.

If you find out you have to pursue other options, your agent can help with that too. They’ll be able to connect you with other professionals in the industry, like housing counselors, who can look into your unique situation and offer advice on next steps if selling isn’t your best alternative.

In conclusion…

If you’re a homeowner facing hardship, let’s connect so you have an expert on your side to explore your options and see if you can sell your house to avoid foreclosure. Call or text us today at 616-550-7686, or email us at information@bprealtypro.com 

We look forward to serving you! 

The Majority of Americans Still View Homeownership as the American Dream

Buying a home is a powerful decision, and it remains a key part of the American Dream. In fact, the 2022 Consumer Insights Report from Mynd found the majority of people polled still view homeownership as a key life achievement. Let’s explore just a few of the reasons why so many Americans continue to value homeownership.

The Financial Benefits of Owning a Home in Grand Haven

One possible reason homeownership is viewed so highly is because owning a home in Grand Haven is a significant wealth-building tool, and it provides meaningful financial stability over renting by locking in your monthly housing payments for the length of your home loan. An article from Forbes explains:

“Understanding the potential benefits of homeownership helps individuals see the value of owning property instead of renting. . . . household wealth among homeowners is a whopping 1,469% higher on average compared to renters, excluding home equity, making the allure of homeownership even more enticing.”

Over time, owning a home not only helps boost your own net worth, but it also sets future generations up for success as you pass that wealth down. That may be why the Mynd report also says:

“Most Americans (78%) still associate homeownership with the ‘American dream.’ And nearly two-thirds of Americans (65%) see homeownership as a means of building intergenerational wealth.”

The Non-Financial Benefits of Homeownership

While the financial benefits of owning a home are important, becoming a homeowner impacts you on a social and emotional level, too. As Mark Fleming, Chief Economist for First American, says:

“. . . buying a home is not just a financial decision. It’s also a lifestyle decision.”

Your home provides feelings of achievement, responsibility, and more. 3by30 highlights the top 10 benefits homeowners enjoy. A few non-financial advantages include:

• Providing you with more freedom and control over your living space
• Giving you a greater sense of pride
• Helps with community engagement

What Does That Mean for You?

If your definition of the American Dream involves greater freedom and prosperity, then homeownership could play a major role in helping you achieve that dream. While it may feel challenging to buy a home in Grand Haven today as mortgage rates and home prices rise, if the time is right for you, know that there are incredible benefits waiting for you at the end of your journey. You’ll have a place where you can grow your wealth, call your own, and feel most comfortable.

Like the National Association of Realtors (NAR) says:

“. . . research has consistently shown that homeownership is also associated with multiple economic and social benefits to individual homeowners. Homeownership has always been an important way to build wealth.”

Buying a home is a powerful decision and a key part of the long-term dream for many Americans. And if homeownership is part of your dreams this year, let’s connect to start the process today. Call/text 616-550-7686, or email us at information@bprealtypro.com 

We look forward to serving you! 

If you’re getting ready to sell your house in Grand Haven, there are several terms that you need to be familiar with. The top 6 terms to know are as follows: Comps, Staging, Contingent, Earnest Money, Escrow, and Home Warranty.

Comps

Comps are comparable sales of similar homes in the neighborhood.

These can help you determine a price range for your home, as well as what it will take to improve your property’s value by adding upgrades or making repairs.

Staging

Staging is the process of preparing your home to show potential Grand Haven buyers. Staging is done by the seller or with the help of a professional stager. The goal of staging is to make your house look enticing, appealing and inviting so that it sells faster and for more money.

• Clean up clutter. Get rid of excess furniture, old toys and other items that are scattered around the room. Make sure all surfaces are clear so they catch light well when viewed from different angles (e.g., an empty table top). Remove any personal items such as sports memorabilia or family photos that could distract from selling points (i.e., size, layout). Take down anything hanging on walls like curtains or paintings unless they’re part of a professionally designed theme such as “French country” or “beach cottage” decorating styles which can add depth to staging efforts.*

Contingent

A buyer can back out of a purchase agreement if certain conditions are not met. For example, if the buyer doesn’t get approved for a mortgage loan, then the purchase agreement could be terminated. In this case, you would have to go through the process again with another potential buyer who does have financing in place. Contingencies are typically good for buyers because they give them some protection from overpaying for a house that doesn’t meet their needs or budget. However, sometimes contingencies can actually work against you as a seller and make it more difficult to sell your home quickly without making any changes to its price or condition so that it meets with everyone’s approval!

Earnest Money

Earnest money is the upfront deposit you pay when making an offer on a Grand Haven property. It’s typically 1% of the purchase price, but can be as little as $1,000 or as much as $10,000 or more depending on the state and other factors. Some states require sellers to keep earnest money in escrow until closing day, while others allow sellers to keep it in their own possession.

Escrow

Before you get too excited about a house and make an offer, the escrow process will ensure that you have all the funds necessary to pay for it. Escrow is a neutral third party who holds the funds until your transaction is complete.

This ensures that both parties are protected from any unexpected issues that could arise during this process. For instance, if your buyer doesn’t have enough money to buy your home in Grand Haven, then escrow will hold those funds until they do or until you accept another offer.

Home Warranty

A home warranty is a contract between the home buyer and the home seller. The warranty covers repairs to major systems in the home, such as heating, air conditioning and plumbing. The contract lasts for one year after closing on the sale of your property, so if anything breaks within that timeframe you’re covered by the insurance company that underwrote your home warranty policy.

The cost of this coverage is paid by you (the seller) when you sell your house and is included with any profits from selling above market value. In return for paying this fee upfront instead of having it deducted from their down payment or closing costs later on down the road, buyers receive credits toward things like property taxes or insurance premiums over time as well as cash back at closing time.

In Conclusion…

When selling your home in Grand Haven, you need to be aware of these terms. Comps are comparable sales that help buyers understand the value of your home. Staging is the process of preparing a house for sale by making it more appealing to potential Grand Haven buyers. Contingent offers give sellers more time to sell their homes and allow buyers more time before they have to make an offer on another property. Earnest money is a deposit given in exchange for a promise that both parties will follow through on their obligations under any contract or agreement entered into at some later date (in this case, when closing). Escrow accounts are used to hold funds, documents and other valuables during transactions such as buying and selling real estate in order to ensure that everything goes smoothly without any issues arising later down the line. A Home Warranty is a contract between the home buyer and the home seller. The warranty covers repairs to major systems in the home and lasts for one year after closing on the sale of your property. We understand that real estate terms and phrases can be confusing and difficult to understand, which is why we are always here to help! If you have any questions about real estate terms or real estate in general, we’d love to chat! Call or text us at 616-550-7686. We look forward to serving you!

If you’re looking for your first home, buying a condo in Grand Haven is one of the best options! Condos are typically smaller than houses, so they can often be bought with a lower down payment. This means that you’ll have less money tied up in your home and more flexibility to invest in other things like furniture or renovations. In addition, condos generally have less maintenance because there is no yard work or lawn care needed!

Condos are a great option for first time home buyers because:

Condos are a great option for first time home buyers because:

• Many condos in Grand Haven have amenities like pools, gyms, and community rooms. If you’re not ready to be responsible for maintaining your own yard, a condo could be right for you. In some cases the HOA will pay to maintain the exterior of your building.
• Condos usually come with an increased level of safety compared to other types of housing options because they tend to be centrally located near police stations and other emergency services. As well as having access to these services, condos often have their own security systems which add another layer of protection against crime or theft.

HOA assumes responsibility for exterior of building

If you’re unfamiliar with the concept of condo ownership, an HOA is a group of owners who collectively own the building and agree to pay monthly dues for common areas. These include things like maintenance and upkeep of the grounds (the exterior), landscaping, and amenities like pools, hot tubs and exercise facilities. In most cases which condo association you choose will be determined by the age of your building—older buildings typically have more restrictive guidelines on what types of rules they can impose on their members than newer developments.

When purchasing a condominium in the Grand Haven Michigan area, there are several things to consider when choosing your HOA:

• What type of HOA does this property belong too? Is it a “run-of-the-mill” association where all members pay equally for shared expenses? Or does this property belong too some sort of “specialty” community – perhaps one that offers access to private pools or other exclusive amenities just for its members?
• Will owning this particular unit require any additional burdensome fees beyond those already associated with being part owner in any co-op development (elevator maintenance/repair costs etc)? Do these costs vary from one building type versus another within same complex/community?
• Popular condo complexes in Grand Haven, Michigan: Lighthouse Point Condominiums, Harbourfront condos, Witherell Building Condos, Millhouse Bayou Condos, and Hawthorne Square Condos, just to name a few!

You get used to the responsibilities of home ownership by preparing for meetings, voting on issues within the building, etc.

There are many benefits to living in a condo. You get used to the responsibilities of home ownership, and you get to experience the community within the condo complex by attending meetings, voting on issues within the building, etc. You also get to know your neighbors and form a close-knit circle of trusted neighbors.

If you are thinking about buying a condo, we hope this list has helped you to make an informed decision. If you still have questions, feel free to contact us at your convenience! We’re always happy to help and look forward to serving you.

Renting has its benefits. It’s easy, it’s convenient, and you don’t have to deal with repairs or maintenance. But renting also means you’re never building equity or getting ahead. When you rent a property, your money goes toward someone else’s mortgage instead of toward your own future as an owner-occupied home owner. For example: If you buy a $200,000 house at age 25 and pay off the loan by age 65 at 5% interest rate (average), then those payments will add up to about $1 million dollars over the course of 30 years. That’s not only more than enough money for retirement but also enough for a down payment on another house (or condo) if you choose—which can help build even more wealth!

Buying a home is better than renting because it forces you to save money.

There’s no way around it: buying a home means saving money, and that can be hard work. You need to save for a down payment, closing costs, repairs and maintenance, furniture and accessories, moving expenses (if you move), utilities during your lease term, homeowner insurance—the list goes on. But saving all this cash is the best thing that can happen to your financial life because it forces you to get into the habit of setting aside money every month instead of spending everything now and making repayment plans later.

Buying a home is better than renting because of the tax benefits.

The tax benefits of buying a home are more predictable than those of renting. If you buy a home, you can deduct mortgage interest and property taxes from your income on your tax return. This is true regardless of whether you itemize deductions or take the standard deduction.

However, if you’re in a high-tax state like New York or California, it may be better to rent because the mortgage interest deduction will not make up for all of your lost income due to paying state income taxes instead of federal income taxes.

Buying a home is better than renting because it’s an investment.

Buying a home is better than renting because it’s an investment.

When you buy a home, you can use the value of your home to help pay for the down payment on another house. This way, when you sell the first house after living in it for a while, you’ll have some equity that can go toward paying off your second mortgage. You can also use this same strategy when planning to send your kids to college or even just take trips with your friends (or family).

Buying a home also gives renters more freedom than they would have otherwise; renters have very little control over their living environment while owning a place gives homeowners total control over what they do with their property and who they choose to invite over (or not).

Buying a home is better than renting because you make all the decisions.

You have the freedom to do whatever you want with your home. You can paint it pink, or purple, or even blue if that’s what makes you happy. You can knock down walls and add a pool in the backyard, or not. You don’t have to ask permission from anyone before making changes! There are no landlords who will tell you when and where in your own home that is acceptable for parties (or even how many people are allowed at once). In addition, if something breaks down inside of an apartment complex (kitchen appliances being one example), then there may be a fee involved for maintenance costs–which aren’t included in rent payments anyway. Owning a house means that things like these won’t cost extra money because everything is already paid for by having purchased the property outright!

Buying a home is better than renting because your payment goes toward an asset instead of to someone else’s mortgage.

Let’s say you buy a house for $200,000 and put down 20% ($40,000). You can afford monthly payments of $1,500.

Now let’s say you rent an apartment in the same area for $1,500 per month. That means every month you pay $1,500 but have nothing to show for it. In fact, if your landlord didn’t give you a discount on the first year’s rent (which they often do), even then all that money would be going toward their mortgage instead of yours!

But remember: buying is an investment in yourself and your future! Your payment goes toward building equity in the home—not someone else’s mortgage—which gives you something valuable if/when you decide to sell or move somewhere else.

Buying a home can help you build credit by making timely payments and by building equity.

While renting, you have no equity in the property and you have no place to call your own. If a landlord has a problem with you, they can kick you out without notice. But if you buy a home and make your payments on time, that can help boost your credit score over time.

That’s important because good credit is something more than half of Americans don’t have! And even though it won’t get some people into Harvard or Yale University (those universities rely heavily on SAT scores), having good credit will help them get approved for things like car loans and mortgages—and those are two things most people need at some point in their lives.

Buying has tons of benefits, and if you want to get on with your life and build wealth, buying is usually the way to go.

Buying a home is an investment in your future. There are many benefits to owning a home, including the fact that you can build wealth, build equity (the difference between the value of your home and what you owe on it), build savings, and get out of the rental cycle. Buying a house will get you out of renting forever and into homeownership where everything is under your control.

Buying also gives you freedom to customize your living space exactly as you want it without having to ask permission or pay higher rent prices just because some landlord wants new carpeting or more granite countertops in every room. If there’s something broken at a rented place, it’s usually not worth fixing because they’ll just remove it later anyway when they decide to sell the building—but if something breaks at a purchased property, they’re yours until they break again—and then maybe even after that!

If you’re ready to buy, we can help you get started. We understand that buying a home can be a big step, so we’re here to make sure that it’s as smooth and stress-free as possible. If you’re ready to begin the first steps towards homeownership, or wish to discuss the benefits of owning vs renting, please give us a call or text at 616-550-7686! We look forward to serving you!

If you’re selling your home, it can be tempting to hold out for more. After all, you’ve likely spent years in the house and know its every creak; if you sell too quickly, what happens if the new owners ask for renovations? If you’re not careful, you could end up spending months or even years trying to sell and never find a buyer willing to meet your price. But if there are particular reasons that make accepting an offer now better than waiting around—as there often are—you might want to consider this list of situations in which it makes sense:

When your home has been sitting on the market for a long time

If you’ve been on the market for a long time and haven’t been able to get your home sold, it may be time to accept an offer. Why? Because there is no guarantee that you’ll get another one, so if you can at least get something out of it and move on with your life, then why not take it? If nothing else, the worst case scenario is that someone finds out about what’s going on and wants a better deal on your property than they were originally offering. In any event, this is still preferable over having a home sit vacant forever while other options are considered.

When there’s an all-cash offer on the table

If you have an all-cash buyer, they’re likely to be much more serious about buying your home than someone who has to seek financing. They also have fewer opportunities for their deal to fall through.

Cash buyers are less likely to get stuck in a lengthy mortgage approval process, which can delay the sale of your home by several weeks or months and increase the risk that you won’t close on time for another reason.

And finally, there’s less risk that cash buyers will find themselves unable to fund their purchase because of financing issues or other unforeseen circumstances (like a drop in interest rates).

If you have a cash offer, that means there’s one less contingency

When you have a cash offer, that means there’s one less contingency. Cash offers are more likely to close and be accepted than any other type of offer. They’re also more likely to be accepted quickly, at the asking price and by sellers who have been waiting for months on end as they begin to lose patience with having their home sit on the market.

When you’re pressed for time

Here are a few situations when you’re pressed for time:

• You have to move out of your home. This could be because of a job transfer, divorce or other life changes.
• You have to move to a new home. Maybe you were able to buy a better house in the same area as your current one, or maybe there was an opportunity that required you to move somewhere else entirely. Either way, if this is the case and you can’t wait on an offer from your home sale closing long enough for both houses to sell, then accepting the first offer might be best for everyone involved (you included).
• You have to move before selling your home and buying another one at the same time — otherwise known as “buy-and-hold investing.” This is when someone buys two houses at once: One for themselves and another one with plans on renting it out so they can make money off their investment over time while still keeping their living quarters separate from where they earn income as well as keep their mortgage payment low by having two separate homes instead of just one large house where they live alone most days (or nights).

You’ve already found your next home

If you’ve already found your next home, there’s no reason to drag out the sale of your current home. In fact, it may even be in your best interest to accept the first offer on your home and move quickly. There are several reasons why this might happen:

• You need more time to find the perfect next home and won’t be able to find one before buyers start getting impatient with you.
• The buyer who made you an offer has a sense of urgency that is likely causing them to look at other homes as well—you don’t want them jumping ship if they think yours will take too long (or maybe they just get tired of waiting).
• The market is hot right now—there are lots of people looking for houses and there aren’t enough houses for all those people! If someone else finds out about this great deal on your house before it goes on the market or gets snatched up by another buyer, then they’re going to beat you at every step until they get their hands on it!

You have a limited buyer pool

If you have a cash offer, that means there’s one less contingency. If a buyer comes to you with a full-price offer, they are likely not looking at other homes themselves. That means their search is over and your house is likely the only one they want to buy.

This can be an ideal situation for sellers because it reduces the amount of time between accepting their offer and closing on the home. They know their buyer will not be looking at other houses, which could allow them to negotiate more aggressively or make repairs in order to get top dollar for their home if needed.

It can be tempting to hold out for more, but sometimes it makes sense to take what you get and keep moving.

When you’re making an offer on a home, there are many factors to consider. For example, if you’re selling your current home and need to move in quickly because you’ve already found another place and want to get into it immediately, it can be tempting to hold out for more money. But this might not be the best course of action.

It’s important that you keep in mind that when making an offer on any property—whether it’s your primary residence or investment property—there will always be other offers on the table. If the seller accepts your offer, then they won’t have any other options available for them at that time. By holding out for more money than what another buyer offered up front (even though that buyer may have had a series of contingencies), this means one less contingency for them as well as extra risk associated with going through negotiations again with someone else later down the road after finding another buyer who is willing pay higher prices despite having similar terms such as financing terms etcetera).

As you can see, there are many times when it might make sense to accept the first offer on your home. No matter what situation you find yourself in or how much you want to wait for the perfect buyer, it’s important to remember that no one knows what the future holds—including what will happen if you turn down an offer today. If all goes well, then you won’t have anything to worry about! If you have questions about accepting an offer, or what makes a good offer, the specialists here at BP Realty would love to talk you through it! You can call or text our office phone at anytime ( 616-550-7686 ) or email us at information@bprealtypro.com ! We look forward to serving you!!! 

Selling your home is a big decision. It’s not just the place you live, it’s also an investment, and you have to make sure it’s worth your time and energy to sell. In fact, that’s why many people choose not to list their homes in today’s market: they don’t want the hassle of dealing with all the extra work! If you’re looking for a way around this problem, then hiring a qualified realtor is one of the best ways to get things done quickly and easily. Let’s take a look at what online shopping has done for home buyers today and why you need someone who can help navigate through all these changes if you want to sell quickly—and for top dollar!

Home buying has changed

You might think that selling a home would be easy, but it’s not. The market has changed and there are a lot of people who want to buy homes. Sellers need qualified realtors in this market because the competition is fierce and buyers have high expectations when it comes to their purchase.

Here are some reasons why you should hire a professional seller’s agent:

• Buyers shop online: In today’s world, buyers no longer work with an agent who only shows them homes they’re interested in buying. They can easily search online for listings on their own and then hire agents who specialize in those areas or price ranges when they’re ready to make an offer on one of them (or several). As a seller, this means that you need more than just one open house each weekend—you need several open houses each weekend! That way all potential buyers will see your property before making their decision about whether or not they want it too.
• Homebuyers want move-in ready homes: It used to be common for homeowners who were moving out after living there for many years to fix up things before putting their house back on the market again; however this isn’t always true nowadays because many people don’t have time nor money necessary for such projects.”

Online home shopping has changed the market

It used to be that you had to go door-to-door or attend open houses to shop for a home. Now, however, online real estate marketplaces have made it easier than ever for prospective buyers to find their dream home. These services also allow sellers to list their properties on a highly competitive platform that appeals directly to current trends and market dynamics.

In addition, these platforms make it much easier for home shoppers to find qualified realtors who can help them throughout the process of buying or selling property in your area—and they’re also great places where you can get feedback from past clients as well!

Buyers are looking for move-in ready homes

In today’s market, buyers are looking for move-in ready homes. They want to move in as soon as possible and avoid costly repairs. In fact, many buyers are willing to pay more than the asking price if they can get a home that is in great condition and ready to go.

Furthermore, buyers don’t have time to deal with all of the headaches associated with making repairs after closing on their new home; they want an estate sale instead of purchasing an ex-rental property.

Buyers also typically like knowing that the seller has already taken care of any necessary fixes so they can enjoy their newly purchased property immediately without having to hire contractors or spend hours searching online for reputable businesses who can complete the necessary work at reasonable rates.

The right agent will help you find the right price

A realtor can help you figure out the exact price your home should be listed at, based on current market conditions. They have access to data that you do not have and they know what kind of offers people are making in the area. This can be extremely helpful if you’re trying to sell your house fast because it will give you an idea of how much time it will take for someone to make an offer on your property.

A realtor will also help negotiate a better price for both parties involved in a sale. If a buyer is interested in buying a property but doesn’t want to pay too much money, then having someone like an agent who understands how these types of negotiations work could mean the difference between getting $10K off or nothing at all!

Hiring a qualified realtor is important to get your home sold today.

I’m sure you’ve heard the saying, “It’s better to be safe than sorry.” When it comes to selling your home, this is one of those situations where that statement is especially true.

The reason for this is that when you hire a qualified REALTOR®, they have access to all kinds of resources that can help ensure the sale of your property goes as smoothly as possible. A professional real estate agent will not only advise you on what steps are necessary in order for your home sale/purchasing  process to go smoothly; they also take care of many things on their own.

In short: Hiring a qualified realtor is important because doing so gives sellers peace of mind!

The real estate market is changing, and the best way to ensure your home sells is by hiring a qualified agent. Find out more about how our qualified real estate specialists can help you navigate today’s market by calling or texting 616-550-7686, or by emailing information@bprealtypro.com ! We look forward to serving you. 

Despite what you may have heard, the housing market is still a good investment. Here are five reasons why:

Interest rates are low.

Interest rates are low. In fact, the average interest rate on a 30-year mortgage is at 3.86%. This means you can afford a much larger mortgage than you could a few years ago!

Inflation isn’t always bad.

Inflation is a good thing for borrowers. Inflation means that your dollars are worth less and you need more of them to buy what you want. This is great news!

• Buyers: When inflation rises, it means that the prices of homes (your house) increase as well. A higher rate of inflation means that houses can be purchased cheaper with each passing year. So even though inflation may be high today, this will eventually lead to lower house prices in the future as well as making your home’s value go up over time if you choose to sell it at some point in the future.
• Sellers: If someone buys your house today and then sells it tomorrow with inflated values because they have high rates of inflation annualized over them (which is what happens), then they could end up making quite a killing profit by buying cheap now and selling expensive later on when there’s no more room left in their budget

You aren’t buying a house for the short term.

The point of buying a house is to make it your home. It’s not just an investment, it’s where you live—and live well. You get to choose the paint colors and fixtures, create the furniture arrangements…paint a mural in one room if you like! Your home should be a reflection of who you are as an individual and what matters most to you as part of your lifestyle.

Buying a house isn’t just about saving money on rent; it’s about investing in yourself (and your future). What will that look like for you exactly? Let’s talk about some reasons why buying a home can still make sense even with high inflation:

Inflation might actually help your home be more valuable in the long term.

Inflation might actually help your home be more valuable in the long term.

Inflation increases the value of your home. Inflation helps your home retain its value, by keeping it from decreasing too rapidly. It can also help it appreciate over time if you’re able to stay ahead of inflation, or at least avoid negative rates of return on your investment.

This might sound like a bizarre claim, but there’s some logic behind it: The government-controlled rate of inflation—the Consumer Price Index (CPI)—is calculated using a basket of goods and services that includes things like housing costs, energy bills and food purchases; if these go up in price over time due to inflationary pressures then so does the CPI itself! This means that as long as you don’t sell your house for less than what you paid for it originally, then its value will go up over time.

It’s still smart to buy a house even with inflation happening.

You may be worried about the high inflation rates, and for good reason. High inflation can be a huge problem and make it much harder to buy a house, but you need to remember that there are still many benefits of buying a home even with high inflation happening.

One way that you can avoid losing money in this situation is by considering these factors:

• Buy something that you want rather than something that is more affordable. The more expensive your home is, the less likely it will be worth less over time. This means that if your goal is to purchase something as cheaply as possible right now, then maybe waiting until after the economy gets better isn’t such a bad idea after all!

The bottom line is that buying a house is still a smart move even with inflation happening. In fact, the last thing you want to do is get caught up in short-term thinking about the home market. While there are some potential pitfalls of buying at this time, it’s important to remember that you’re not just thinking about your next five years—you’re also investing for your future as well as your family’s future. If you are ready to start the journey of homeownership, give us a call or text today at 616-550-7686. We look forward to serving you!

There’s no better time to buy than right now!

The housing market has had a rocky ride and is facing some problems that make people wonder if there’s a recession on the horizon for real estate.

To understand how the housing market affects you and your finances, let’s look at what makes up this industry, what happens when it goes wrong, and how the economy can impact it.

A very big part of our economy is real estate: buyers purchasing homes in order to live in them or rent them out; sellers selling their homes or renting out their current property; lenders providing mortgages to buyers and investors lending money for renovations or other improvements. In other words, everyone from first-time homeowners to seasoned investors are involved in this industry every day.

The problem with this industry is that its participants are very susceptible to economic downturns—especially when interest rates rise or fall quickly (like they did during 2008). If you’re looking into buying real estate right now (and even if you aren’t), then understanding these issues can help guide your decisions while avoiding any serious financial mistakes down the line!

If you’re thinking about buying a home, this environment may seem scary, but don’t let that stop you!

This is a scary time to buy a house. There are definitely some problems that make people wonder if there’s a recession on the horizon, and headlines are trying to scare you into thinking your dream of homeownership is out of reach. In reality, though, there are two sides to every story: one side that says “this market is great!” and another side that says “I don’t think it will last.”

The truth is probably somewhere in between these two extremes—and we’re here with information about how to find out what’s true for you!

Headlines are trying to scare you into thinking your dream of homeownership is out of reach.

Headlines are trying to scare you into thinking your dream of homeownership is out of reach. BP Realty is here to tell you it isn’t! There are many reasons why this may be the best time to buy a home, and here are some of them:

• The housing market has been slow for several years now, which means that inventory is up and prices are down. In other words, now’s the time when you can get more houses for less money.
• Interest rates have never been lower than they currently are right now (and they’re likely going even lower). This means that it will cost less than ever before to borrow money in order to buy real estate—and who doesn’t want their monthly mortgage payment as low as possible?

In reality, there are two sides to every story, and right now, the positive side of real estate is getting overlooked.

In reality, there are two sides to every story, and right now, the positive side of real estate is getting overlooked.

When you buy a house in a recession, you’re essentially making an investment that will pay off big in the future. And because it’s an investment, it makes sense to use as much leverage as possible to increase your returns.

Interest rates are still low, giving buyers more purchasing power than ever before.

Interest rates are still low, giving buyers more purchasing power than ever before. While it’s true that mortgage rates have increased since the recession hit, they’re still far lower than they were in the years leading up to it. For example, in May 2007 the average 30-year fixed rate mortgage was 5.21%. Today it stands at 3.94%, which means you can afford to buy a home with less money down and get better terms overall than if you were buying back then (even if your credit score was perfect).

With ultra-low interest rates like these, you can afford more houses now than ever before—without having to spend all your savings or getting into debt beyond your wildest dreams (unlike so many people who bought houses when interest rates were high). The same goes for homebuyers with poor credit scores: even if their FICO scores are in the 500s or 600s instead of 700+, they may be able to secure mortgages that would have been out of reach just a few years ago.

With interest rates so low, going from renting to buying just might make sense—even if it doesn’t seem that way at first.

Interest rates are still low, and that’s good for buyers.

Interest rates are low because the economy is in a recession.

Interest rates are low because the Fed is keeping them low.

If you use an experienced Real Estate Specialist, negotiating a great deal for yourself is easier than ever.

So, you’ve decided to buy a house in this economy. Congratulations! It may seem like an odd decision at first, but if you use an experienced Real Estate Specialist, the process will be easier than ever.

Why? Because we work for you. We’re professionals who are trained to negotiate on your behalf and get the deal done quickly, without wasting time or money. In fact, we can help you find the right house as well as negotiate the price down as much as possible so that when it comes time for closing on your property — everything will go smoothly because it was pre-negotiated by us long beforehand!

Oh yeah—and don’t forget about that other big expense: financing! Many buyers simply trust their own bank when buying their new home with no idea what kind of rate they’re getting; but if there are other options available then why not explore them first? The specialists at BP Realty will help guide you through every step of financing so that when all is said and done your mortgage payment will be lower than ever imagined—and guess what else? You still get those tax breaks from Uncle Sam!

A home is an investment in your family, not just in real estate.

A home is not just a place to live. It’s an investment in your family and their future. A house can do so much more than just provide shelter: it can be the foundation of their life, helping them grow and prosper.

To understand why buying a house is such an important decision, let’s take a look at what makes up the value of your home:

• Location – this is key because it determines how much rent you can get out of the property. If you live in an area where property values are high then it will make sense to sell at some point as prices continue to rise
• Condition of the property – if repairs need doing then they will have to be done before selling unless this means that too many costs are involved (in which case maybe just wait until prices rise again)

There’s no better time to buy than right now!

There’s no better time to buy than right now!

• Interest rates are low.
• Home prices are stable.
• Prices are still rising in many areas of the country.

There are several reasons why it’s a good idea to buy right now, including:

• There is a lot of competition from first time buyers because they see the value of owning their own home, especially if they plan on staying in their current location for at least five years and would like to avoid paying rent or mortgage payments over that period of time.
• The market is still strong despite what you may have heard about “the recession” affecting certain markets and houses here or there around the country (in fact many cities like Las Vegas continue seeing record breaking numbers). This means that even though interest rates might not stay near zero forever, they aren’t likely going back up anytime soon either! So don’t wait too long before making this decision because once rates start increasing again then things could get tricky…

If you’re thinking about buying a home, this environment may seem scary, but don’t let that stop you! Headlines are trying to scare you into thinking your dream of homeownership is out of reach. Fear-mongering headlines often don’t tell the full story and can’t paint a complete picture of what’s happening in real estate. In reality, there are two sides to every story, and right now, the positive side of real estate is getting overlooked. Interest rates are still low, giving buyers more purchasing power than ever before. With interest rates so low going from renting to buying just might make sense—even if it doesn’t seem that way at first. If you have questions about the Real Estate Market, or have questions about buying or selling your home, the specialists here at BP Realty would be honored to talk with you! Please do not hesitate to reach out! You call or text us anytime at 616-550-7686, or email us at information@bprealtypro.com