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Dick Keenan | The Keenan Carter Group, Keller Williams Realty CC Blog

Friday, October 25, 2024   /   by Dick Keenan

Why Have More People Decided To Sell Their Homes Lately?

Typically, home listings slow down as summer ends, which results in fewer homes hitting the market in the fall. But this year saw a surprising twist: mortgage rates dropped just as the seasonal slowdown usually begins, motivating more homeowners to sell.

According to recent Realtor.com data, the number of homes listed for sale in September jumped by 11.6% compared to the same time last year. Instead of the usual decline, more homes came onto the market.

Ralph McLaughlin, Senior Economist at Realtor.com, explains that this unseasonal increase is tied to mid-August’s drop in mortgage rates, which spurred more people to list their homes.

What This Means for Buyers

For buyers, this shift means more fresh options to choose from—homes that haven’t been sitting unsold. However, mortgage rates have been unpredictable lately and have nudged up recently, which may keep some homeowners from listing. In this market, mortgage rates are a significant factor in the decis. ...

Friday, October 25, 2024   /   by Dick Keenan

What To Expect for Mortgage Rates and Home Prices in 2025

Wondering where the housing market is headed in 2025? Experts are predicting promising trends in two critical areas: mortgage rates and home prices. Whether you’re considering buying or selling, here’s what to expect and how it could influence your plans.

Mortgage Rates Likely to Ease

Mortgage rates have been a major factor impacting homebuying decisions, and the outlook for 2025 is encouraging. Experts expect rates to trend down gradually over the next year. While it won’t be a consistent drop, the overall direction should be positive. Rates will respond to economic data and inflation updates as they come in, so there may be some fluctuations along the way, but staying focused on the bigger picture can help.

As rates decrease, affordability improves, meaning monthly mortgage payments are likely to go down, giving buyers more flexibility. Lower rates could bring more buyers into the market, increasing demand. Charlie Dougherty, Senior Economist at Wells Fargo. ...

Friday, October 25, 2024   /   by Dick Keenan

Planning to Sell in 2025? Here’s Why It Pays to Start Prepping Early

If selling your home in 2025 is on your radar, now’s the time to begin preparing. While the new year may seem far off, starting early on any repairs or updates can make a big difference. As Danielle Hale, Chief Economist at Realtor.com, points out, it’s wise to plan ahead:
“Now is the time to start thinking about what you need for your next home and then taking those steps to prepare to list. Our data shows 47 percent of sellers are taking over a month to get their home ready, so starting early gives you more flexibility.”

Getting a jump start on your prep allows you to work at a comfortable pace and be ready to hit the market by year’s end. Partnering with an experienced agent early on is also key—they can guide you on which upgrades will add the most value based on your local market.
Why Starting Early Matters
When it comes to selling quickly and at the best price, first impressions matter. Take the time now to complete any repairs, declutter. ...

Friday, October 25, 2024   /   by Dick Keenan

How Long Will It Take To Sell Your Home?

As you gear up to sell your home, one of your first questions is likely, “How long will this process take?” Understanding what to expect can be helpful as you plan.

While every local market varies, looking at national trends gives a general sense of the timeline. However, for a more precise understanding of your area, consulting a local real estate agent is ideal—they’re in tune with local conditions and how they measure up to national averages.

Why Homes Are Taking Longer to Sell

According to Realtor.com, the number of homes on the market has been rising this year, giving buyers more choices. With a larger inventory, homes are spending a bit more time on the market since buyers now have more options. Currently, the average time from listing to sale is about 55 days.

However, while homes may be on the market a bit longer than last year, they’re still selling faster than in pre-pandemic years. For example, between 2017 and 2019, a typical sale t. ...

Friday, October 25, 2024   /   by Dick Keenan

Why Today’s Foreclosure Numbers Don’t Signal a Crash

With prices on the rise, it’s easy to wonder if higher costs could lead to more foreclosures. Many people are concerned that tighter budgets might result in missed mortgage payments, triggering a spike in foreclosures and causing a housing market crash.

However, the latest foreclosure data suggests otherwise: there’s no indication of an impending wave of foreclosures.

What Makes Today’s Market Different from 2008

Taking a closer look at the big picture can help ease concerns. Research from ATTOM, a property data provider, shows that current foreclosure activity is a fraction of what it was in 2008. Back then, there was a significant rise in foreclosures, which contributed to the housing market crash. Today, not only are foreclosures much lower, but they’ve actually decreased slightly in recent reports.

You may notice that foreclosure numbers have ticked up a bit since 2020 and 2021, but that’s largely because there was a temporary moratorium du. ...
The Keenan Carter Group
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Pismo Beach, CA 93449
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Based on information from California Regional Multiple Listing Service, Inc. as of February 7, 2025. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
Information is provided exclusively for consumers’ personal use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS.
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