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Category Archives: Home Buyers

Inflation – and Home Values – Are Up. Should You Sell?

Key Takeaways:

  • Home values are rising faster than inflation, making homes a prized asset
  • This housing market offers unique opportunities for buyers and sellers
  • Contact us today to secure your assets and safeguard your future!

The state of real estate and inflation

As inflation soars to near 40-year highs and raises the cost of everything, many are looking for innovative ways to secure their assets against inflationary losses. Additionally, given the housing market’s recent volatility (primarily driven by historic low levels of housing inventory that have caused an imbalance between supply and demand), it’s understandable that many might consider real estate to be a wrong or risky move right now. But the great news is that nothing could be further from the truth. Let’s explore how and why buying or selling a home can safeguard you against inflation. Continue reading

Should You Be Worried About a Housing Bubble?

Key Takeaways:

  • Real Estate Bubbles: what are they, are we in one now, and why there’s no cause for alarm.
  • It’s natural to compare today to 2008, but this housing market is vastly different.
  • You can lean on our expertise! We’ve seen all types of markets, so reach out with questions.

With home prices soaring to levels never before seen, it is undeniable that the U.S. housing market is in uncharted territory, with many industry experts speculating that we’re in the midst of yet another housing bubble. However, like snowflakes, every bubble is created differently and is unique. Continue reading

Oil and Gas Prices on the Rise: How It Changes Real Estate

Key Takeaways:

  1. Oil and gas prices are the highest in United States history!
  2. Individuals and families are shifting how they think about housing, from suburban versus urban to downsizing or going multigenerational.
  3. It’s critical to work with an agent who understands the right fit for you and your family.

Record-high oil and gas prices are changing home buying and selling

It’s difficult to escape the news: gas prices are surging across the nation, with the increase averaging $1 per gallon. With costs at historical highs, the ripple effect changes how we think about everything. That includes the largest line item on any household’s budget: their home. How will this new reality change how people buy and sell real estate? Let’s take a look at some of the main considerations. Continue reading

How Will Inflation Affect the Housing Market?

Key Takeaways:

  • The historic low housing inventory creates value opportunities in competitive housing markets.
  • Anticipation of new home listings to hit a 10-year high as some owners see right now as the best time to sell.
  • Condo and rental demand are likely to surge as inventory supply chain issues impact the housing market.

This Year Will Bring Balance to the Housing Market

After two consecutive years in which words like “unprecedented,” “historic,” and “white-hot” have been buzzing about, we can now add “inflation” to the list.

What is inflation, and how will it affect the real estate market in 2022?

Real estate is not immune from the inflationary effects of declining purchasing power on an economy. When prices go up, so do the costs associated with real estate. In a nutshell, that’s how inflation works; like a rising tide lifts all boats, so does inflation with rising costs. However, there are always reasons to be genuinely confident in real estate’s proven ability to hedge against inflation and be profitable.

Here are three particulars and tips to help you navigate these inflationary waters and better prepare you to make your move when you decide it’s time to do so.

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From Boomers to Zoomers: Home-Buying Tips for Every Generation

Key Takeaways:

  • Buyers throughout all walks of life are wondering how to navigate today’s competitive housing market.
  • Whether you’re a Gen Z first-time buyer or a Baby Boomer looking to downsize, you should consider making a move to lock in your real estate goals.
  • Have questions about buying or selling? Contact us for personalized advice!  734-761-3060 or info@bouma.com

What Every Generation Should Know About Buying a Home

As older members of Gen Z reach home-buying age and Millennials make up the largest share of the housing market, buyers from every generation are wondering if now is the right time to make a move. Buying a home at any stage in life comes with its own unique challenges, so it’s crucial to consider your future and factor finances into your decision.

Looking for advice? We’re here to offer some savvy real estate tips for every generation, from Gen Z to Baby Boomers. Continue reading

Buying or Selling in 2022? Look for an Agent with These 10 Qualities

Key Takeaways:

  • In today’s hot market, it’s more important than ever to choose the right agent to help you buy or sell a home.
  • Real estate agents don’t just offer local expertise—their insider knowledge and marketing prowess come in handy, too.
  • Thinking about making a move in the new year? Contact us to start planning now!

Here Are the Top 10 Qualities Every Successful Real Estate Agent Should Have

Did you know that 75% of buyers and sellers work with the first agent they meet? It’s true—but that doesn’t mean it’s the best decision. If you want to come out on top in today’s competitive market, experts often recommend interviewing a few candidates before settling on the right real estate professional for the job. And if you’re not sure where to start, we’ve outlined 10 qualities of a highly successful agent.

Continue reading

3 Reasons All Buyers and Sellers Should Use Listing Alerts

Key takeaways:

  • Listing alerts send new home and condo listings straight to your inbox as soon as they hit the MLS, and they’re the easiest way to keep up with the competitive market.
  • Listing alerts aren’t just useful for buyers—they can also help sellers stay up-to-date on other current and sold properties in their neighborhood or complex.
  • Signing up for listing alerts only takes a minute, and you can always contact us to schedule a tour if you see a property you love!

Why Every Buyer and Seller Should Sign Up for Listing Alerts

Today’s real estate market is more fast-paced than ever—in fact, it’s not uncommon for a place to sell above asking price not long after it’s listed. So if you’re serious about buying, you need a to-the-minute resource to help you stay ahead of the competition.

This is where listing alerts come in handy. Just use our fully customizable filters to narrow down your search, and you’ll receive an email right when a condo or house matching your criteria hits the market. And if you’re thinking about selling, you can also use listing alerts to scope out the competition in your area.

Want to learn even more about the benefits of signing up for listing alerts? Here are three additional perks that every buyer and seller should know about. Continue reading

What to Expect in the 2022 Real Estate Market

Key Takeaways:

  • Many of the dynamics seen in 2021 will carry through into next year’s housing market, but at a much less frenzied pace.
  • As remote work becomes a more permanent, widespread option, Millennials are taking advantage and entering the real estate market.
  • We’re ready for another seller’s market. Like last year, there isn’t time to waste—contact us to start planning now!

What Buyers and Sellers Need to Know About the 2022 Housing Market

In the final few weeks of 2021, both home buyers and sellers look forward to what lies ahead in 2022. We can help build your strategy to stay competitive! Don’t wait for the real estate market to heat up during the spring and summer. Here’s what you need to know to get ahead of the competition next year.

First-time home buyers can overcome the challenging market

First time home buyers celebrating

Continue reading

The Top 4 Questions to Ask When Buying a Home with a Pool

Key Takeaways:

  • Pools are a highly coveted amenity, and having one of your own comes with quite a few perks.
  • Want to know the ins and outs of pool ownership? We’ve outlined some must-ask questions that every homebuyer should consider.
  • No matter what kind of home you’re looking to buy, you can always reach out to us for advice—give us a call to start your next chapter!

Here Are the Questions You Need to Ask Before Buying a Home with a Pool

If you’re in the market for a new home, a pool might be at the top of your wish list—and having one comes with quite a few health, entertaining, and financial benefits! However, before you commit to buying a home with this luxurious feature, there are some questions you might want to ask first.

Want to learn the ins and outs of buying a home that comes with a pool? Here’s everything you need to know. 

What are the most common types of pools?

Pool with deck and chairs

 

Generally, most pools fall into two categories: above-ground and in-ground. Above-ground pools cost less to maintain and are statistically safer. However, in-ground pools blend into your yard’s natural landscape, and because they’re permanent, they may increase your home’s value over time. 

Pools can also be subdivided into a number of other categories based on their materials (fiberglass, concrete, etc.), the type of water (fresh or saltwater), and styles (lap pools, infinity pools, or spas). It’s best to do plenty of research in advance and ask your agent for more details on a home’s pool.

What should I know about pool maintenance?

Cleaning a pool

 

In most cases, pools cost around $100 or more each month to maintain and can require an hour of work per week depending on the season. However, this number varies based on your location and whether or not you use a professional service.

As a pool owner, you’ll be responsible for cleaning any debris, adding pool chemicals, as well as maintaining the pump and filter. You may also want to periodically test pH levels, vacuum your pool, and use cleaners to shock the water.

Over time, your pool will require more expensive maintenance, especially if a part goes bad or there’s a problem with the overall structure. If you have any concerns, your agent can be a helpful resource as you weigh the pros and cons.

Should I worry about pool safety?

 

If you plan on having children or pets near your pool, you want to ensure that it has the latest safety features. Fencing, mesh covers, and pool alarms add another layer of protection for all ages. If a pool doesn’t already have these upgrades, you’ll want to factor in the cost of adding them. More costly gadgets—such as alarms and fences—will set you back a few hundred dollars. 

Will home inspectors check a pool?

Checking a pool's chemical levels

 

Home inspectors almost always check a pool during their evaluation. However, if they aren’t well-versed in the specifics of pool maintenance, they may miss some critical issues. If you have any in-depth questions about a pool’s condition, hire a professional pool inspector before the closing. They’ll go beyond a general checklist and give you a thorough look at any problems a pool might have. Most pool inspectors will also provide an itemized list of potential repairs that can help you negotiate the final price of a home.

Want to know some of the most common red flags inspectors might point out? Be wary of any cracks in the pool’s interior, foul-smelling or off-color water, clogged filters, or broken equipment. 

Ready to Have Some Fun in the Sun?

Pools can require some effort and money to maintain, but you simply can’t beat the benefits of having your own swimming space. If you’re dreaming of buying a home with a pool, we’d love to help you track down your perfect place! Just give us a call at The Bouma Group at 734-761-3060 or info@bouma.com to get started—we look forward to working with you!

Selling a home with a pool? Contact us to learn more about getting top-dollar in no time at all. 734-761-3060 or info@bouma.com.

4 Tricks to Buying a Home in a Crazy Hot Market

Key Takeaways:

  • Despite the ongoing pandemic, the real estate market is more competitive than ever before—and that means buyers have to do more to get their offer accepted.
  • Want to stand out from the competition and score the home of your dreams? Our four tips can help you achieve real estate success in no time.
  • If you have any questions about buying in today’s hot market, just give us a call for even more personalized advice!

The 4 Tips Every Buyer Needs to Know in 2021

If you’ve been house-hunting for a while, you’ve probably noticed that today’s real estate market is more than just a little competitive. Low mortgage rates, high demand, and dwindling inventory have created ideal conditions for sellers—but it’s still very possible to score a fantastic deal on a home.

Want to know the secret to buying a home in 2021? Here are four tips that can help you take back control in a seller-driven market.

Get your finances in order

Calculating mortgage payments

First and foremost, you need to get your finances in order before you even consider looking at homes. Start by paying off as much debt as you can and increasing your credit score. It’s also a good idea to keep track of just how much you have saved for a down payment. Sellers are more likely to choose buyers who can put down at least 20% or pay cash.

Want to strengthen your offer even more? Get pre-approved or attach a higher earnest money deposit to show a seller you’re serious about buying their home.

Know what you want

Buying a home is one of life’s most exciting milestones. However, it’s easy to get caught up in the little details—which is why it’s crucial to do your research in advance. Connect with a local agent early on to discuss your home-buying goals. A good agent will help you hone in on your budget, wants, and needs, as well as the right area or neighborhood.

Prepare for a bidding war

Negotiating a deal

According to a recent survey by Redfin, more than half of all buyers found themselves in a bidding war last year. And while the idea of competing against other home-seekers might seem overwhelming, there are a few things you can do to stand out.

If you’re trying to score a house with multiple bids, send in your best and final offer up front. You may also want to include an escalation clause, which automatically increases your purchase price by certain increments (like a few thousand dollars at a time) so you avoid getting outbid.

It’s also a good idea to consider homes below your budget, especially if you have your heart set on a popular neighborhood. This gives you some flexibility if you end up in a bidding war.

Appeal to the seller

Talking about real estate

Even if you find yourself in a bidding war, it’s still possible to come out ahead. Believe it or not, sellers don’t always choose the highest offer, even if it far exceeds the original asking price.

You can appeal to a seller’s peace of mind by limiting your contingencies, offering to pay closing costs, and letting them choose the closing date. Adding these extra bonuses might seem minor, but they can really impact a seller’s final decision.

Only Buy with the Best

Working with a top-notch agent can help you navigate 2021’s crazy real estate market with ease. So if you’re looking for some guidance, it’s time to give us a call at The Bouma Group!

Whether you’re at the beginning of the buying process or are already searching for a home, you can trust us to help you find your perfect place. Contact us today at 734-761-3060 or info@bouma.com to get started; we look forward to working with you!