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        <title>Real Estate Blog</title>
        <link>https://www.hartsockrealty.com/blog/</link>
        <description></description>
<item>
    <guid>https://www.hartsockrealty.com/blog/have-you-outgrown-your-home.html</guid>
    <link>https://www.hartsockrealty.com/blog/have-you-outgrown-your-home.html</link>
        <author>jeff4hartsockrealty@outlook.com (Jeff Dulmage)</author>
        <title>Have You Outgrown Your Home?</title>
    <description> <![CDATA[ 
Have You Outgrown Your Home?







It may seem hard to imagine that the home you’re in today – whether it’s your starter home or just one you’ve fallen in love with along the way – might not be your forever home.


The good news is, it’s okay to admit if your house no longer fits your needs.


According to the latest Home Price Insights from CoreLogic, prices have appreciated 3.5 year-over-year. At the same time, the National Association of Realtors (NAR) reports inventory has dropped 4.3 from one year ago.These two statistics are directly related to one another. As inventory has decreased and demand has increased, prices have been driven up.


This is great news if you own a home and are thinking about selling. The equity in your house has likely risen as prices have increased. Even better is the fact that there’s a large pool of buyers out there searching for the American dream, and your home may be high on their wish list.


Bottom Line


If you think you’ve outgrown your home, let's get together to discuss local market conditions and determine if now is the best time for you to sell.


 ]]> </description>
    <pubDate>Thu, 19 Dec 2019 16:11:00 -0500</pubDate>
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    <guid>https://www.hartsockrealty.com/blog/have-you-budgeted-for-closing-costs.html</guid>
    <link>https://www.hartsockrealty.com/blog/have-you-budgeted-for-closing-costs.html</link>
        <author>jeff4hartsockrealty@outlook.com (Jeff Dulmage)</author>
        <title>Have You Budgeted for Closing Costs?</title>
    <description> <![CDATA[ 
Have You Budgeted for Closing Costs?







Saving for a down payment is a key step in the homebuying process, and it’s not the only piece you need to include in your budget. Another factor that’s important to plan for is the closing costs required to obtain a mortgage.


What Are Closing Costs?


According to Trulia,




“When you close on a home, a number of fees are due. They typically range from 2 to 5 of the total cost of the home, and can include title insurance, origination fees, underwriting fees, document preparation fees, and more.”




For those who buy a $250,000 home, for example, that amount could be between $5,000 and $12,500 in closing fees. Keep in mind, if you’re in the market for a home above this price range, your costs could be significantly greater. As mentioned before,


Closing costs are typically between 2 and 5 of your purchase price.


 Trulia gives more great advice, saying,




“There will be lots of paperwork in front of you on closing day, and not enough time to read them all. Work closely with your real estate agent, lender, and attorney, if you have one, to get all the documents you need ahead of time.


The most important thing to read is the closing disclosure, which shows your loan terms, final closing costs, and any outstanding fees. You’ll get this form about three days before closing since, once you (the borrower) sign it, there’s a three-day waiting period before you can sign the mortgage loan docs. If you have any questions about the numbers or what any of the mortgage terms mean, this is the time to ask—your real estate agent is a great resource for getting you all the answers you need.&quot;




Bottom Line


Let’s get together to discuss the homebuying process, to be sure your plan includes budgeting for what you need to purchase your dream home – without any surprises


 ]]> </description>
    <pubDate>Thu, 12 Dec 2019 14:09:00 -0500</pubDate>
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    <guid>https://www.hartsockrealty.com/blog/a-365-day-difference-in-homeownership.html</guid>
    <link>https://www.hartsockrealty.com/blog/a-365-day-difference-in-homeownership.html</link>
        <author>jeff4hartsockrealty@outlook.com (Jeff Dulmage)</author>
        <title>A 365 Day Difference in Homeownership</title>
    <description> <![CDATA[ 
A 365 Day Difference in Homeownership







Over the past year, mortgage rates have fallen more than a full percentage point. This is a great driver for homeownership, as today’s low rates provide consumers with some significant benefits. Here’s a look at three of them:




Refinance: If you already own a home, you may want to decide if you’re going to refinance. It’s one way to lock in a lower monthly payment and save substantially over time, but it also means paying upfront closing costs too. You have to answer the question: Should I refinance my home?


Move-up or Downsize: Another option is to consider moving into a new home, putting the equity you’ve likely gained in your current house toward a down payment on a new one that better meets your needs – something that’s truly a perfect fit for your family.


Become a First-Time Homebuyer: There are many financial and non-financial benefits to owning a home, and the most important thing is to first decide when the time is right for you. You have to determine that on your own, but know that now is a great time to buy if you’re considering it. Just take a look at the cost of renting vs. buying




Why 2019 Was a Great Year for Homeownership


Last year at this time, mortgage rates were 4.63 (substantially higher than they are today). If you’re one who waited for a better time to make a move, market conditions have improved significantly. Today’s low mortgage rates combined with increasing wages are making homes much more affordable than they were just one year ago, so it’s a great time to get more for your money and consider a new home.


The chart below shows how much you would save based on today’s rates, compared to what you would have paid if you purchased a house exactly one year ago, depending on how much you finance.


Bottom Line


If you’ve been waiting since last year to make your move into homeownership, or to find a house that better meets your needs, today’s low mortgage rates may be just what you need to get the process going. Let’s get together to discuss how you can benefit from the current rates.


 ]]> </description>
    <pubDate>Thu, 05 Dec 2019 11:12:00 -0500</pubDate>
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    <guid>https://www.hartsockrealty.com/blog/top-5-reasons-you-should-not-fsbo.html</guid>
    <link>https://www.hartsockrealty.com/blog/top-5-reasons-you-should-not-fsbo.html</link>
        <author>jeff4hartsockrealty@outlook.com (Jeff Dulmage)</author>
        <title>Top 5 Reasons You Should NOT FSBO</title>
    <description> <![CDATA[ 
Top 5 Reasons You Should NOT FSBO







Rising home prices coupled with a lack of inventory in today’s market may cause some homeowners to consider selling their home on their own (known in the industry as a For Sale By Owner). However, a FSBO might not be a good idea for the vast majority of sellers.


The top 5 reasons are listed below:


1. Online Strategy for Prospective Purchasers


Recent studies have shown that 95 of buyers search online for a home. In comparison, only 13 use print newspaper ads. Most real estate agents have an Internet strategy to promote the sale of your home. Do you?


2. Results Come from the Internet


Where did buyers find the home they actually purchased?




50 on the Internet


7 from a yard sign


28 from a Real Estate Agent


1 from newspapers




The days of selling your house by putting up a sign and listing it in the paper are long gone. Having a strong Internet strategy is crucial.


3. There Are Too Many People to Negotiate With


Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:




The buyer who wants the best deal possible


The buyer’s agent, who solely represents the best interest of the buyer


The buyer’s attorney (in some parts of the country)


The home inspection companies, which work for the buyer and will almost always find some problems with the house


The appraiser, if there is a question of value




4. FSBOing Has Become Increasingly Difficult


The paperwork involved in the process has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19 to 7 over the last 20+ years.


5. You Net More Money When Using an Agent


Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent’s commission. The seller and buyer can’t both save the commission.


A study by Collateral Analytics revealed that FSBOs don’t actually save anything by forgoing the help of an agent. In some cases, they may actually cost themselves more. One of the main reasons for the price difference at the time of sale is:




“Properties listed with a broker that is a member of the local MLS will be listed online with all other participating broker websites, marketing the home to a much larger buyer population. And those MLS properties generally offer compensation to agents who represent buyers, incentivizing them to show and sell the property and again potentially enlarging the buyer pool.”




The more buyers that view a home, the greater the chance of a bidding war for the property. The study found the difference in price between comparable homes of size and location is currently at an average of 6.


Listing on your own leaves you to manage the entire transaction yourself. Why do that when you can hire an agent without additional cost?


Bottom Line


Before you decide to take on the challenge of selling your house on your own, let’s get together to discuss your needs.


 ]]> </description>
    <pubDate>Thu, 14 Nov 2019 14:58:00 -0500</pubDate>
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    <guid>https://www.hartsockrealty.com/blog/the-1-reason-to-list-your-house-in-the-winter.html</guid>
    <link>https://www.hartsockrealty.com/blog/the-1-reason-to-list-your-house-in-the-winter.html</link>
        <author>jeff4hartsockrealty@outlook.com (Jeff Dulmage)</author>
        <title>The 1 Reason to List Your House in the Winter</title>
    <description> <![CDATA[ 
The 1 Reason to List Your House in the Winter







Many sellers believe spring is the best time to put their homes on the market because buyer demand traditionally increases at that time of year. What they don’t realize is if every homeowner believes the same thing, then that’s when they’ll have the most competition.


So, what’s the 1 reason to list your house in the winter? Less competition.


Housing supply traditionally shrinks at this time of year, so the choices buyers have will be limited. The chart below was created using the months supply of listings from the National Association of Realtors.As you can see, the ‘sweet spot’ to list your house for the most exposure naturally occurs in the late fall and winter months (November – January). 


Temperatures aren’t the only thing that heats up in the spring – so do listingsIn 2018, listings increased from December to May. Don’t wait for these listings and the competition that comes with them to come to the market before you decide to list your house.


Added Bonus: Serious Buyers Are Out in the Winter


At this time of year, purchasers who are serious about buying a home will be in the marketplace. You and your family will not be bothered and inconvenienced by mere ‘lookers.’ The lookers are at the mall or online doing their holiday shopping.


 Bottom Line


If you’ve been debating whether or not to sell your house and are curious about market conditions in your area, let’s get together to determine the best time to list your house.


 ]]> </description>
    <pubDate>Thu, 07 Nov 2019 15:01:00 -0500</pubDate>
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    <guid>https://www.hartsockrealty.com/blog/operation-christmas-child.html</guid>
    <link>https://www.hartsockrealty.com/blog/operation-christmas-child.html</link>
        <author>jeff4hartsockrealty@outlook.com (Jeff Dulmage)</author>
        <title>Operation: Christmas Child</title>
    <description> <![CDATA[ 
Join Hartsock in sharing the joy of giving this Christmas through


Operation: Christmas Child


 


Watch the faces of kids experiencing Christmas through opening their shoebox





 







Last year Hartsock sent out over 100 boxes to boys and girls around the world who haven't experienced the joy of opening a present on Christmas. This year we are looking to surpass last year's goal by packing 150 boxes But we need your help 


 


How your donations will help:


You can give any amount but if you don't know where to start here are some ideas:1. $45- pays for shipping for 5 boxes.2. $75- pays for 50 empty plastic boxes.3. $100- helps cover 1 item to go in 75 boxes for the boys or girls.4. $250- covers 5 complete boxes for a little boy or girl in need.5. $500- covers 10 complete boxes for a little boy or girl in need.


Any amount is appreciated More questions? Comment Below


The preferred deadline for donations is Wednesday Nov. 13th.  
 ]]> </description>
    <pubDate>Tue, 05 Nov 2019 15:37:00 -0500</pubDate>
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    <guid>https://www.hartsockrealty.com/blog/4-reasons-to-buy-a-home-this-fall.html</guid>
    <link>https://www.hartsockrealty.com/blog/4-reasons-to-buy-a-home-this-fall.html</link>
        <author>jeff4hartsockrealty@outlook.com (Jeff Dulmage)</author>
        <title>4 Reasons to Buy a Home This Fall</title>
    <description> <![CDATA[ 
4 Reasons to Buy a Home This Fall







Here are four great reasons to consider buying a home today, instead of waiting.


1. Prices Will Continue to Rise


CoreLogic’s latest Home Price Insights Report shows that home prices have appreciated by 3.6 over the last 12 months. The same report predicts prices will continue to increase at a rate of 5.8 over the next year.


The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.


2. Mortgage Interest Rates Are Projected to Increase Next Year


The Primary Mortgage Market Survey from Freddie Mac indicates that interest rates for a 30-year mortgage have recently hovered just above 3.5. This is great news for buyers in the market right now, because low interest rates increase your purchasing power – but don’t wait Most experts predict rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac, and the National Association of Realtors are in unison, projecting that rates will increase by this time next year.


An increase in rates will impact your monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is needed to buy your next home.


3. Either Way, You Are Paying a Mortgage 


There are some renters who haven’t purchased a home yet because they’re uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you’re living rent-free with your parents, you are paying a mortgage – either yours or that of your landlord.


As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.


Are you ready to put your housing costs to work for you?


4. It’s Time to Move on With Your Life


The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears both are on the rise.


But what if they weren’t? Would you wait?


Look at the actual reason you’re buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer, or you just want to have control over custom renovations, maybe now is the time to buy.


Bottom Line


Buying a home sooner rather than later could lead to substantial savings. Let’s get together to determine if homeownership is the right choice for you and your family this fall.


 ]]> </description>
    <pubDate>Thu, 31 Oct 2019 16:30:00 -0400</pubDate>
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    <guid>https://www.hartsockrealty.com/blog/depending-on-the-price-youre-going-to-need-advice.html</guid>
    <link>https://www.hartsockrealty.com/blog/depending-on-the-price-youre-going-to-need-advice.html</link>
        <author>jeff4hartsockrealty@outlook.com (Jeff Dulmage)</author>
        <title>Depending on the Price, You’re Going to Need Advice</title>
    <description> <![CDATA[ 
Depending on the Price, You’re Going to Need Advice







To understand today’s complex real estate market, it is critical to have a local, trusted advisor on your side – for more reasons than you may think.


In real estate today, there are essentially three different price points in the market: the starter-home market, the middle-home market, and the premium or luxury market. Each one is unique, and depending on the city, the price point in these categories will vary. For example, a starter or lower-end home in San Francisco, California is much more expensive than almost any other part of the country. Let’s explore what you need to know about each of these tiers.


Starter-Home Market: This market varies by price, and these homes are typically purchased by first-time home buyers or investors looking to flip them for a profit. Across the country, homes in this space currently have less than 6 months of inventory for sale. That means there aren’t enough homes on the lower end of the market for the number of people who want to buy them. A low supply like this generally increases competition, drives bidding wars, and sets up an environment where homes sell above the listing price. According to data from the National Association of Realtors (NAR) on realtor.com,




“The desire for affordability continues to push down the inventory for homes listed for less than $200,000.00.”




Middle-Home Market: This segment is often thought of as the move-up market. Typically, the buyer in this market is moving up to a larger, more custom home with more features, all coming at a higher price. Across the country, this market is looking more balanced than the lower end of the market, meaning it has closer to a 6-month supply of inventory for sale. This market is more neutral, but leaning towards a seller’s market.


Premium &amp; Luxury Home Market: This is the top end of the market with larger homes that have even more custom features and upgrades. Nationwide, this market is growing in the number of homes for sale. In the same realtor.com article, we can see that year-over-year inventory of homes in this tier has grown by 4.7. Today, there are more homes available in the premium and luxury space, leading to more of a buyer’s market at this end.


Bottom Line


Depending on the segment of the market and the price point you’re looking at, you’re going to need the advice of a true local market expert. Let's get together to help you navigate the home-buying or selling process in your market.


 ]]> </description>
    <pubDate>Thu, 24 Oct 2019 15:45:00 -0400</pubDate>
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    <guid>https://www.hartsockrealty.com/blog/3-reasons-this-is-not-the-2008-real-estate-market.html</guid>
    <link>https://www.hartsockrealty.com/blog/3-reasons-this-is-not-the-2008-real-estate-market.html</link>
        <author>jeff4hartsockrealty@outlook.com (Jeff Dulmage)</author>
        <title>3 Reasons This is NOT the 2008 Real Estate Market</title>
    <description> <![CDATA[ 
3 Reasons This is NOT the 2008 Real Estate Market







No one knows for sure when the next recession will occur. What is known, however, is that the upcoming economic slowdown will not be caused by a housing market crash, as was the case in 2008. There are those who disagree and are comparing today’s real estate market to the market in 2005-2006, which preceded the crash. In many ways, however, the market is very different now. Here are three suppositions being put forward by some, and why they don’t hold up.


SUPPOSITION 1


A critical warning sign last time was the surging gap between the growth in home prices and household income. Today, home values have also outpaced wage gains. As in 2006, a lack of affordability will kill the market.


Counterpoint


The “gap” between wages and home price growth has existed since 2012. If that is a sign of a recession, why didn’t we have one sometime in the last seven years? Also, a buyer’s purchasing power is MUCH GREATER today than it was thirteen years ago. The equation to determine affordability has three elements:  home prices, wages, AND MORTGAGE INTEREST RATES. Today, the mortgage rate is about 3.5 versus 6.41 in 2006.


SUPPOSITION 2


In 2018, as in 2005, housing-price growth began slowing, with significant price drops occurring in some major markets. Look at Manhattan where home prices are in a “near free-fall.”


Counterpoint


The only major market showing true depreciation is Seattle, and it looks like home values in that city are about to reverse and start appreciating again. CoreLogic is projecting home price appreciation to reaccelerate across the country over the next twelve months.


Regarding Manhattan, home prices are dropping because the city’s new “mansion tax” is sapping demand. Additionally, the new federal tax code that went into effect last year continues to impact the market, capping deductions for state and local taxes, known as SALT, at $10,000. That had the effect of making it more expensive to own homes in states like New York.


SUPPOSITION 3


Prices will crash because that is what happened during the last recession.


Counterpoint


It is true that home values sank by almost 20 during the 2008 recession. However, it is also true that in the four previous recessions, home values depreciated only once (by less than 2). In the other three, residential real estate values increased by 3.5, 6.1, and 6.6.


Price is determined by supply and demand. In 2008, there was an overabundance of housing inventory (a 9-month supply). Today, housing inventory is less than half of that (a 4-month supply).


Bottom Line


We need to realize that today’s real estate market is nothing like the 2008 market. Therefore, when a recession occurs, it won’t resemble the last one.


 ]]> </description>
    <pubDate>Thu, 17 Oct 2019 16:45:00 -0400</pubDate>
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    <guid>https://www.hartsockrealty.com/blog/62-of-buyers-are-wrong-about-down-payment-needs.html</guid>
    <link>https://www.hartsockrealty.com/blog/62-of-buyers-are-wrong-about-down-payment-needs.html</link>
        <author>jeff4hartsockrealty@outlook.com (Jeff Dulmage)</author>
        <title>62 of Buyers Are Wrong About Down Payment Needs</title>
    <description> <![CDATA[ 
62 of Buyers Are Wrong About Down Payment Needs







According to the ‘2019 Home Buyer Report’ conducted by Nerdwallet, many first-time buyers still believe they need a 20 down payment to buy a home in today’s market:




“More than 6 in 10 (62) Americans believe you must put at least 20 down in order to purchase a home.”




When potential homebuyers think they need a 20 down payment to enter the market, they also tend to think they’ll have to wait several years (in some markets) to come up with the necessary funds to buy their dream homes. The report continues to say,




“The truth: 32 of current U.S. homeowners put 5 or less down on their home, according to census data.” (as shown below):




The lack of knowledge about the home-buying process is unfortunately keeping many motivated buyers on the sidelines.


Bottom Line


Don’t let a lack of understanding keep you and your family out of the housing market. Let’s get together to discuss your options today.


 ]]> </description>
    <pubDate>Thu, 10 Oct 2019 16:22:00 -0400</pubDate>
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