Sugar Land, TX Real Estate News

By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
Are There More Homes Coming to the Market?According to a recent survey from the National Association of Realtors (NAR), one of the top challenges buyers face in todays housing market is finding a home that meets their needs. Thats largely because the inventory of homes for sale is so low today.If you're looking to buy a home, you may have noticed this yourself. But there is good news. Recent data shows more sellers are listing their houses this season, which may give you more options for your home search.Early Signs Inventory May Be GrowingThe latest data from realtor.com shows the number of listings coming onto the market, known in the industry as new listings, has increased since the start of the year (see graph below):This indicates more sellers are listing their homes for sale each ...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
Choosing a Loan That’s Right for YouFinding the right loan to meet your needs can be one of the hardest parts of buying a new home. There are a number of mortgage options out there, and if you choose one that isn’t really ideal for your situation, then you might end up paying a lot more for it in the long run. With so many options, though, how do you know that you’re getting the best loan to match your situation?It might take a little bit of homework, but there are actually a few different ways to sort through potential loans to find the best one for you. A lot of things can affect the loans that are available to you, including where you live, what your credit history looks like, and even the state of the economy. With that said, here are a few things that you should keep in mind when s...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
Three Tips for First-Time HomebuyersBuying your first home is a major decision and an exciting milestone. Even though it can feel daunting at times, it has the power to change your life for the better. If you’re looking to purchase your first home, you may be wondering what’s happening in the housing market today, how much you need to save, and where to start.Here are three things that can help give you the information you need to confidently pursue your dream of homeownership.1. Consider All Options When the Number of Homes for Sale Is LowToday, there are far more buyers in the market than there are homes available for sale. When that happens, its a good idea to do what you can to increase your pool of options. That could mean expanding your search to include additional housing types. ...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
How To Approach Rising Mortgage Rates as a BuyerIn the last few weeks, the average 30-year fixed mortgage rate from Freddie Mac inched up to 5%. While that news may have you questioning the timing of your home search, the truth is, timing has never been more important. Even though you may be tempted to put your plans on hold in hopes that rates will fall, waiting will only cost you more. Mortgage rates are forecast to continue rising in the year ahead.If you're thinking of buying a home, here are a few things to keep in mind so you can succeed even as mortgage rates rise. How Rising Mortgage Rates Impact YouMortgage rates play a significant role in your home search. As rates go up, they impact how much you'll pay in your monthly mortgage payment, which directly affects how much you can ...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
What to Consider When Adding OnAdditions can be a good way to get more functionality out of your home. Your addition might be an extra bedroom for your expanding family, a home office to provide you with a space to work from home, or even a sunroom or hobby area. Your add-on might even be a way to add more space to existing rooms, removing or extending walls to let your current kitchen, bedroom, or other area flow seamlessly into your new addition. There are just so many possibilities.Regardless of what you plan to use the room for, though, adding on to your house is a big undertaking and may be kind of a big investment as well. Even relatively small additions can be a big project, so it’s important that you know exactly what your plans will entail before you start work on expanding you...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
There Are Several Great Reasons To Consider Buying a Condo TodayIf you're a first-time buyer looking to break into the housing market but struggling to find a home to buy, condominiums (or condos) could be a great alternative for you.Here are a few reasons condos may be something you'll want to consider.Exploring Condos Could Add Options That Fit Your Budget Supply challenges are a reality across the board in todays housing market. Broadening your home search to include condos could increase your overall pool of options. Just keep in mind, condos generally differ from single-family homes in average space and floorplans.In a recent article, Bankrate covers some of these differences:Condos are generally more affordable because they come with less space you likely wont have your own backya...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
Why Choose an All-Electric Home?There are a number of choices available to you when it comes to how you heat and cool your home. While many people choose electric means of cooling, heating is often a different story. The heating options for your home include things like gas heat, wood-burning heating, and even ambient heating solutions that use steam or hot water to pump heat through pipes in concrete flooring. Some homes even use a combination of these methods to heat different rooms in the house.If you’re considering how you want to heat and cool your own home, however, there is something to be said for using an all-electric solution. While electric heat and air might not be right for every home or every homeowner, it’s at least worth considering if you’re in the market for a new home...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
Improve Your Home’s Efficiency With a Garage DoorWhen it comes to improving the energy efficiency of your home, your garage might not be the first place that you think of. If you have an attached garage, though, you may be leaking warm (or cool) air from your home without even realizing it. While there are a few different ways that you can combat this, one of the most effective is by installing new garage doors.Of course, not all garage doors are created equal when it comes to improving the energy efficiency of your home. To help ensure that you get the most for your garage door dollars, let’s take a look at exactly how new garage doors will help you save money on your heating and cooling costs.Energy Efficiency and Your Garage A lot of emphasis is usually put on the windows and doors f...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
An Expert Advisor Will Give You the Best Advice in Today's MarketHaving an experienced guide coaching you through the process of buying or selling a home is important in a normal market but todays market is far from normal. As a result, an expert real estate advisor isnt just good to have by your side, they're essential.Todays housing market is full of extremes. Experts project mortgage rates will continue to rise this year, and that's driving significant demand for homes as buyers want to make their purchases before rates climb even higher. At the same time, an absence of sellers is leading to record-low housing inventory. This imbalance in supply and demand is creating bidding wars and driving home price appreciation as well as considerable gains in home equity.These market conditions...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
More People Are Planning To Buy a Home SoonWhile some homeowners may be tempted to hold off until spring to list their houses, you should know homebuyers aren't waiting. Demand is high today as more people are trying to beat rising mortgage rates. As a result, eager buyers are entering the market or moving their plans up so they can make their purchases as soon as possible.The most recent Consumer Confidence Survey finds that, of those surveyed, the percentage of people planning to buy over the next six months has increased substantially since last fall (see graph below):As the graph shows, the number of consumers fast-tracking their plans to purchase a home has crept up over the past three months. That indicates many buyers are evaluating their strategy and realizing they should act so...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
Is This the Year You’ll Add a Home Gym?Winter and early spring are typically great times for construction projects around the house. Not only do materials tend to be a bit cheaper due to reduced overall demand, but some labor costs may be reduced as well. Because of this, some homeowners tend to start looking for add-on projects or major remodels to undertake so that they can take advantage of lower prices and faster project starts.One popular home project in recent years is adding a home gym, often converting a largely unused basement or garage space into an area for a wide range of workouts. It’s possible that you’ve considered adding a home gym yourself, either as a room conversion or in an exterior building or add-on. Let’s look at this project a little more closely to determine whe...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
As we celebrate Black History Month, we honor and recognize the past and present experiences of Black Americans. A significant part of this experience is investing in a home of their own. While equitable access to housing has come a long way, the path to homeownership is still steeper for households of color. Its an important experience to talk about, along with how working with the right real estate experts can make all the difference for diverse homebuyers.We know its a more challenging journey to achieve homeownership for some because there's still a measurable gap between the overall average U.S. homeownership rate and that of non-white groups. Today, the lowest homeownership rate persists in the Black community (see graph below):Homeownership is an essential piece for building hous...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
You may have heard that its important to get pre-approved for a mortgage at the beginning of the home buying process, but what does that really mean, and why is it so important? Especially in todays market, with rising home prices and high buyer competition, its crucial to have a pre-approval letter prior to making an offer. Here's why.Being intentional and competitive are musts when buying a home this year. Pre-approval from a lender is the only way to know your true price range and how much money you can borrow for your loan. Just as important, being able to present a pre-approval letter shows sellers you're a qualified buyer, something that can really help you land your dream home in an ultra-competitive market.With limited housing inventory, there are many more buyers active in the ...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
Some Highlights Buying a home and wondering if your inspection is necessary? While some buyers may decide to waive their inspection, its risky decision. Your home inspection is a crucial step in the homebuying process. It assesses the condition of the home you plan to purchase, so you can avoid costly surprises down the road. Lets connect so you have expert advice and a trusted professional who will keep your interests top of mind.   
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
When mortgage forbearance plans were first announced and the pandemic surged through the country in early 2020, many homeowners were allowed to pause their mortgage payments. Some analysts were concerned that once the forbearance program ended, the housing market would experience a wave of foreclosures like what happened after the housing bubble 15 years ago.Here's a look at why that isn't the case.1. There Are Fewer Homeowners in Trouble This TimeAfter the last housing crash, over nine million households lost their homes to a foreclosure, short sale, or because they gave it back to the bank. Many believed millions of homeowners would face the same fate again this time.However, todays data shows that most homeowners exited their forbearance plan either fully caught up on payments or wit...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
As we move into 2022, both buyers and sellers are wondering, what's next? Will there be more homes available to buy? Will prices keep climbing? How high will mortgage rates go? For the answer to those questions and more, we turn to the experts. Here's a look at what they say we can expect in 2022. Odeta Kushi, Deputy Chief Economist, First American:Consensus forecasts put rates at about 3.7% by the end of next year. So, that’s still historically low, but certainly higher than they are today. Danielle Hale, Chief Economist, realtor.com: Affordability will increasingly be a challenge as interest rates and prices rise, but remote work may expand search areas and enable younger buyers to find their first homes sooner than they might have otherwise. And with more than 45 million millennials ...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
Its clear that owning a home makes financial sense. But lately, the emotional side of what drives homeownership is becoming increasingly important.No matter the living space, the feeling of a home means different things to different people. Whether its a familiar scent or a favorite chair, the feel-good connections to our own homes can be more important to us than the financial ones. Here are some of the reasons why.1. Owning your home is an accomplishment worth celebratingYouve put in a lot of work to achieve the dream of homeownership, and whether its your first home or your fifth, congratulations are in order for this milestone. Youve earned it.2. There's no place like homeOwning your own home offers not only safety and security but also a comfortable place where you can simply relax...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
Black Friday and Cyber Monday are over, which means some shoppers have wrapped up their holiday buying. But there's still a group of buyers that are very active this holiday season homebuyers.Experts anticipate the real estate market will see a flurry of activity this winter, and that's great news for todays sellers. If you're planning on listing your home, there's no need to wait until the spring for better conditions todays real estate market is already heating up.Buyers Have Warmed Up to the Idea of Purchasing This WinterThe past 18 months brought about significant lifestyle changes for many of us, including the rise in remote work, job changes, and even early retirement for some. For many people, its prompting a search for their next home now rather than waiting for warmer months.La...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
There are a lot of questions right now regarding the real estate market as we head into 2022. The forbearance program is coming to an end and mortgage rates are beginning to rise.With all of this uncertainty, anyone with a megaphone from the mainstream media to a lone blogger has realized that bad news sells. Unfortunately, well continue to see a rash of troublesome headlines over the next few months. To make sure you aren't paralyzed by a headline, turn to reliable resources for a look at what to expect from the housing market next year.There are already alarmist headlines starting to appear. Here are two recent topics you may have seen in the news.1. Foreclosures Are Spiking TodayThere are a number of headlines circulating that call out the rising foreclosures in todays real estate ma...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
With the average 30-year fixed mortgage rate from Freddie Mac climbing above 3%, rising rates are one of the topics dominating the discussion in the housing market today. And since experts project rates will rise further in the coming months, that conversation isn't going away any time soon.But as a homebuyer, what do rates above 3% really mean?Todays Average Mortgage Rate Still Presents Buyers with a Great OpportunityBuyers don't want mortgage rates to rise, as any upward movement increases your monthly mortgage payment. But its important to put todays average mortgage rate into perspective. The graph below shows todays rate in comparison to average rates over the last five years:As the graph shows, even though todays rate is above 3%, its still incredibly competitive. But todays rate ...
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