According to recent data from Fannie Mae, almost 1 in 4 people still think home prices are going to come down. If you’re one of the people worried about that, here’s what you need to know. A lot of that fear is probably coming from what you’re hearing in the media or reading online. But here’s the thing to remember. Negative news sells. That means, you may not be getting the full picture. You may only be getting the clickbait version. As Jay Thompson, a Real Estate Industry Consultant, explains: “Housing market headlines are everywhere. Many are quite sensational, ending with exclamation points or predicting impending doom for the industry. Clickbait, the sensationalizing of headlines and content, has been an issue since the dawn of the internet, and housing news is not immune to it.” Here’s a look at the data to set the record straight. Home Prices Rose the Majority of the Past Year Case-Shiller releases a report each month on the percent of monthly home price changes. What do you notice when you look at this graph? It depends on what color you’re more drawn to. If you look at the green, you’ll see home prices rose for the majority of the past year. But, if you’re drawn to the red, you may only focus on the two slight declines. This is what a lot of media coverage does. Since negative news sells, drawing attention to these slight dips happens often. But that loses sight of the bigger picture. Here’s what this data really says. There’s a lot more green in that graph than red. And even for the two red bars, they’re so slight, they’re practically flat. If you look at the year as a whole, home prices still rose overall. It’s perfectly normal in the housing market for home price growth to slow down in the winter. That’s because fewer people move during the holidays and at the start of the year, so there’s not as much upward pressure on home prices during that time. That’s why, even the green bars toward the end of the year show smaller price gains. It’s perfectly normal in the housing market for home price growth to slow down in the winter. That’s because fewer people move during the holidays and at the start of the year, so there’s not as much upward pressure on home prices during that time. That’s why, even the green bars toward the end of the year show smaller price gains. The overarching story is that prices went up last year, not down. To sum all that up, the source for that data in the graph above, Case Shiller, explains it like this: “Month-over-month numbers were relatively flat, . . . However, the annual growth was more significant for both indices, rising 7.4 percent and 6.6 percent, respectively.” If one of the expert organizations tracking home price trends says the very slight dips are nothing to worry about, why be concerned? Even Case-Shiller is drawing your attention to how those were virtually flat and how home prices actually grew over the year. For expert guidance and support throughout your journey, reach out to Benson Group  when you're ready to take the next step towards finding your dream home. ---------- Source: keepingcurrentmatters.com

According to homesandgardens.com, this April's paint color trends explore everything from off-white and pastel yellow to sky blue and deep purple. April brings new beginnings, abundance, and warmer weather, making it the perfect time to choose paint colors. With nature as our inspiration, this month's palette includes seafoam green, deep purple, and pure white. From zesty yellows to punchy purples, April invites us to refresh our interiors. Discover the latest paint trends and expert tips for bringing these colors into your home this spring. WHITE White, a symbol of purity and sophistication, offers endless versatility in spring interiors. As Karen Haller, color psychology specialist, suggests, it brings peace and clarity, making rooms feel spacious and bright. While Brilliant White remains a classic choice, consider warmed-hued whites inspired by nature for a grounded feel. Charu Gandhi recommends an off-white palette with beige and ivory undertones for added warmth. DEEP PURPLE Like the abundance of deep purple flowers in spring gardens, purple interiors are experiencing a resurgence. Francesca Wezel highlights its inviting and friendly energy, perfect for creating a relaxed ambiance. Associated with sociability and open-mindedness, deep purple is favored in communal areas, evoking comfort and ease. GRASS GREEN Symbolizing nature and vitality, green remains a timeless favorite for interior decor. Francesca Wezel emphasizes its soothing and grounding effect, fostering emotional well-being. As nature springs to life, embrace the botanical shades of grass and spring green to refresh and restore your living spaces. PASTEL YELLOW Uplifting and mood-boosting, pastel yellow continues to shine in spring interiors. Justyna Korczynska praises its optimism and calming qualities, particularly when paired with cool tones like gray and muted blues. Despite being underutilized, yellow has the power to lift spaces and create interest, enhancing a sense of positivity at home. SKY BLUE With spring's arrival, light sky blues take center stage, promising a fresh start and a bright future. Marianne Shillingford highlights their airy and restorative nature, ideal for modern living spaces. Whether paired with neutrals for a classic calm or bold tones for a head-turning scheme, blue invites optimism and well-being indoors. BARBIE PINK Bubblegum pink shades, affectionately known as Barbie pink, are making a comeback for their versatility and mood-enhancing qualities. This vibrant hue, once popular in the '80s, is reclaiming its place in contemporary interiors. Natalia Miyar praises its elegance and suggests using it as an accent for a subtle pop of color or as a bold statement throughout a room. BURNT ORANGE Energizing and sophisticated, burnt orange adds a bold touch to spring interiors. Helen Sanderson celebrates its optimism and suggests pairing it with teal and blush for a fresh, modern look. Whether incorporated through soft furnishings or accent walls, burnt orange brings warmth and vibrancy to any space, embodying the spirit of the season. Spring invites a palette of colors that evoke renewal, vitality, and joy. From the purity of white to the boldness of deep purple and the vibrancy of burnt orange, each hue brings its unique energy to create refreshing and inspiring living spaces. Whether you seek relaxation, optimism, or sophistication, there's a spring color palette to suit every style and mood, promising a season of rejuvenation and renewal within your home. For expert guidance and support throughout your journey, reach out to Benson Group  when you're ready to take the next step towards finding your dream home. ---------- Source: homesandgardens.com

According to keepingcurrentmatters.com, thinking about selling your house? As you make your decision, consider what’s pushing you to think about moving. Let’s take a closer look and see if they’re motivating you to make a change too. 1. To Make a Profit If you’re thinking about selling your house, you probably have a lot of questions on your mind. Well, here’s some good news – the latest data shows most sellers get a great return on their investment when they sell. ATTOM, a property data provider, explains: “. . . home sellers made a $121,000 profit on the typical sale in 2023, generating a 56.5 percent return on investment.” That’s significant. And here’s one contributing factor. During the pandemic, home prices skyrocketed. There was way more buyer demand than homes available for sale and that combination pushed prices up. Now, home prices are still rising, just not as fast. That ongoing appreciation is good news for your bottom line. Any profit you make can help offset some of today’s affordability challenges when you buy your next home. If you're interested in discovering the current value of your home and staying updated on local market trends, consult Benson Group , your trusted real estate professionals in the area. 2. For Family Reasons Maybe you want to be near relatives to help take care of older family members or to have more support nearby. Or maybe you’re just eager to spend time together on special occasions like birthdays and holidays. Selling a house and moving closer to the people who matter the most to you helps keep you connected. If the distance is making you miss out on some big milestones in their lives, it might be time to talk to a local real estate agent to find a place close by. The National Association of Realtors (NAR) says: “A great real estate agent will guide you through the home search with an unbiased eye, helping you meet your buying objectives while staying within your budget.” For expert guidance and support throughout your journey, reach out to Benson Group  when you're ready to take the next step towards finding your dream home. ---------- Source: keepingcurrentmatters.com

According to cnbc.com, unlock the secrets to showcasing art in your home with finesse and flair! Whether you're a seasoned collector or just starting to adorn your walls, this article offers invaluable guidance on transforming your living space into a gallery of personal expression. From sizing and arrangement to color coordination and beyond, discover expert tips and real-life insights to elevate your home decor to new heights. There are two common mistakes people make when hanging art in their homes, according to art consultant Louisa Warfield. “The first is, they hang work that is too small for the space. And often you’ll go in, and you’ll find a sofa [couch] with one tiny picture above it, and that looks lonely and bleak,” she said. Instead, “Hang a wall… with as big a painting as you can fit.” This helps a room feel homey, Warfield said, while at the same time making the space appear larger. Don’t be afraid to hang large artworks in smaller spaces such as hallways, Warfield said. The second mistake is hanging artworks too high, which makes pieces harder to “connect” with. “Whether it’s just the visual connection, you just like the look of it, or whether it’s an emotional connection, you feel something from it … if the work is hung too high it feels like it’s not really in the room,” she said. A guideline is to hang the work so that its center is about 150cm above the floor, Warfield said. Alternatively, hang it so that your eye level is about a third of the way down from the top of the piece. “These are guides — there’s no hard and fast rule,” she said. The ‘gallery wall’ Having a gallery wall, where several pieces of varying sizes are hung together, is a popular way to display art at home. Most people are not art collectors who buy work around a particular theme; instead, they might acquire pieces on vacation or receive art as gifts, Warfield said. “As our lives grow and get bigger, [the artworks] often don’t match. But a gallery wall … allows you to draw together lots of quite disparate bits into one quite holistic look,” she said. Warfield suggests giving the display cohesion. “This might be as simple as everything has a black frame. This might be simple as everything is a flower picture, or … everything is a black and white photo,” she said. She might add a quirk, such as having one picture that has a touch of red in it that stands out against a monochrome selection.  In a large home, a gallery wall might be about 160cm in height and about the width of the couch the art will hang above, Warfield said. She said mixing larger pieces with smaller ones is acceptable and recommended laying out pictures on the floor in front of the couch to decide how to display them. Should you have the largest picture in the middle of the display? “There’s no ‘should,’” she said. “There are a million different ways of doing it.” Warfield charges £175 ($222) plus taxes for two hours of advice on what to buy and how to display it. When it comes to the hang itself, it’s worth hiring a professional who understands the best fittings to use for the size of the artwork and the type of wall it will go on, Warfield said. Expect to pay a professional hanger around £80 an hour, she said. To match or not You might want artwork to fit with a color scheme you have chosen for your home, but this is something that the art world — which can be elitist — might look down on, Warfield said. Her approach is more inclusive: “You must do whatever you want in your home — it’s your sanctuary,” Warfield said. “What I advise my clients is that you might want it to match now, but your sofa and your [color] palette is almost certainly going to change again in seven to 10 years,” Warfield said. If you are buying art and are keen on a matching approach, “be very aware of how much money are you spending, and will that picture have longevity after you have changed the color of your sitting room?” If you’ve recently moved home and feel your existing artworks don’t fit your new space, consider reframing pieces or hanging them unframed to give them a new look, Warfield suggested, or have them glazed in non-reflective and UV-protective glass that will display work more clearly. For Helen Sunderland Cohen, who collects modern and contemporary art and photography, balance is important. “I try to place works that feel good in a particular space, and that interact organically with one another. This could be through colour, style, or a motif. For example, I decided to hang black and white photography down one corridor,” she told CNBC by email. An art collector’s approach Sunderland-Cohen’s London home features an open-plan living area with large windows along its length that shed light on her collection. A mask by British-Nigerian artist Yinka Shonibare hangs next to a monoprint on fabric by British artist Aimee Parrott, followed by an oil on canvas by post-war British artist Prunella Clough. Meanwhile, a bright pink porcelain cone by Simon Bejer is displayed on a side table — Bejer is a graduate of the City & Guilds School of Art in London, where Sunderland Cohen is a trustee. “I ... try to arrange the art in a way that works with the furniture, rugs, and light, so that everything feels harmonious,” Sunderland Cohen said. Sunderland Cohen, who manages The Sunderland Collection, a collection of antique world maps and atlases, said she buys work for her home that she has a personal connection to, such as places she has lived. “I think a lot of displaying art comes down to confidence and intuition, rather than worrying about what other people will think or how trendy an artist is,” she said. “I am fascinated by design, and like living with it: even simple objects like a well-designed lamp or a beautiful cushion, or a quirky vase. These items do not have to be expensive, just engaging and fun,” she said. For expert guidance and support throughout your journey, reach out to Benson Group  when you're ready to take the next step towards finding your dream home. ---------- Source: cnbc.com

For expert guidance and support throughout your journey, reach out to Benson Group  when you're ready to take the next step towards finding your dream home.

According to realestate.usnews.com, the value of your home can vary widely based on the purpose of the appraisal. Understanding your home’s value is an important part of knowing your net worth, what you’ll likely receive if you sell the property and how the local real estate market is faring. Home value is also an integral part of determining how much property tax you’re required to pay the local and state government annually. But depending on where you look, your home's value may appear as wildly different numbers. Different valuations can mean different things and are often used for different reasons. The two types you’ll most likely encounter are market value and assessed value. Here's a quick explainer on market value vs. assessed value: Market value is the estimated amount active buyers would currently be willing to pay for your home. Your home’s market value is determined by a real estate appraiser, who is typically hired when your lender is deciding how much money to provide in a loan or you are setting the list price when putting your home on the market. Assessed value takes the market value and puts it in the context of your property taxes. In many counties throughout the U.S., assessed value is a portion of the market value, calculated as a percentage of the market value of the property. As a result, the assessed value of a property is typically lower than appraised market value. Keep reading for a more in-depth look at market value and assessed value and what they mean for your home's price point and property taxes. Market Value Danielle Hale, chief economist for a real estate information company, explains that market value is based on the expectation that the property would sell during the period the value is calculated. “When people think about home values, they often mean, ‘This is the price that I could sell it for if I were to sell it today,’ or ‘This is the way a bank would value it if I were to go talk to the bank about getting a home equity loan or maybe refinancing my mortgage,’” she says. The gray area of market value is determining whether the value you assign to your home is based on what current market conditions say a person would pay for your house or what you think a person should pay for it. For this reason, basing market value on recent sales of similar properties is key to ensuring the number is as accurate as possible. Professional appraisers are an instrumental part of the process because they examine a property, nearby recent sales and the factors that may add to or detract from interest in a property, and then assign a value to the house based on the information. A Home Appraisal Helps Determine the Home's Market Value Appraisers are often hired by a mortgage lender, and it's best if they are local to the area so they understand nuances that may not be obvious to an out-of-towner, though sometimes an algorithm will be used to determine values quickly or on a larger scale. A lender can have a property valuated to issue a mortgage for a home purchase, for refinancing or to issue a home equity loan. Individual homeowners can also order their own appraisal to get a better understanding of their home’s current value, if they’re considering selling but don’t know what the asking price should be, or simply to get a better grasp on their net worth. Home Appraisals vs. Home Value Estimators An appraisal looks at the sale information of nearby homes with a similar square footage, age, number of bedrooms and other features of your property that have sold recently – most often in the last six months. Appraisers will also factor in major differences that may make your home’s valuation different. Because the market determines the value, it's easier to pinpoint a more accurate value for homes that are similar to others in the neighborhood than for houses that are unique. A three-bedroom house in a neighborhood of matching three-bedroom houses is relatively easy to appraise, but a Victorian home on a busy street surrounded by condos and apartment buildings will be more difficult to valuate. Hale says online tools serve as a great jumping-off point, but they fail to take into account current and local events that may play a more immediate factor into buyer interest and the ultimate value. “Market conditions can affect that valuation,” Hale says. Assessed Value Market value even becomes part of the calculation of your home’s assessed value. But because assessed value is used for the sake of calculating how much you owe in property taxes, the assessed value is also based on the laws of your state, county and even city, explains Margie Cusack, research manager for the International Association of Assessing Officers. “The assessed value will be defined by the legal framework of that jurisdiction,” she says. “A lot of states have value limitations in law, so they might have a market value for the property. But then they have a per law allowable assessed value that they work off of, so it becomes very localized.” Because of the specificity of assessed value to your exact location, Cusack recommends all homeowners – as well as homebuyers who don’t yet pay property taxes – become well-versed in the statutes that apply to the area, how the assessment is calculated and where your property taxes go. “You really need to read your assessment notice,” she says. “Usually that will define what assessed value means for that property.” The exact steps to assessing a property also vary by jurisdiction. Some assessor’s offices will use a predictive algorithm to help determine assessed values for more properties quickly, while others will address assessments on an individual, in-person basis, Cusack says. Many assessors’ offices keep online databases open to the public that allow you to access information on the history of your property – including the deed from previous sales – and information that factors into the assessment of your property. What if You Disagree With Your Home’s Appraised or Assessed Value? At times, homeowners will disagree with the appraised or assessed value assigned to their property. In both scenarios, there are options for contesting the valuation. For market value, a homeowner or buyer may be able to request a property be appraised a second time with new information the appraiser may not have been aware of before – a finished basement, for instance, can change the value of a home if it can be counted in the square footage. An appraiser may be willing to take a second look at the property without extra charge if something was missed, but you may also need to pay for another complete appraisal to have your house fully reevaluated. When it’s a lender issuing the appraisal and considering the value, however, there’s not much chance you’ll be able to convince the lender to change his or her mind on issuing a loan or refinance. For assessed value, many assessor’s offices have contact information listed and occasionally host public forums to discuss individual issues with property value information. Like the calculation of assessed value itself, the process for petitioning a reassessment varies widely between states and counties, so it’s best to explore your local assessor’s office website for information on discussing the matter. Curious about your home's true value? Whether you're considering selling or just want to understand your property taxes better, knowing the difference between market and assessed value is key. Contact Benson Group today for a professional appraisal and personalized insights into your home's worth. ---------- Source: realestate.usnews.com

According to goodhousekeeping.com, designing a home that reflects your personality can be challenging in a rental with landlord-imposed limitations. Most standard lease agreements outline that you can't damage or permanently change walls, floors, cabinets — the list goes on. But there are plenty of ways to flex your design creativity without stressing over your security deposit. Here, we've rounded up the best designer-approved, renter-friendly upgrades that can be completely undone before you move out. Hang Wireless Lights Statement lighting elevates any space — and luckily, this DIY project doesn't require any skills or understanding of electrical wiring. Adhere LED puck lights to wicker baskets, then hang new fixtures from the ceiling using twine. Most puck lights can be controlled with a remote control; you just have to replace the batteries from time to time. Mount Temporary Wall Molding Picture frame molding gives simple white walls more character. Instead of using nails, blogger Anna Page relies on mounting tape to secure the panels to her walls, making it easy to remove when she inevitably moves out. Experiment With Peel-and-Stick Wallpaper Jessica Teich, Good Housekeeping Institute deputy editor and self-proclaimed "peel-and-stick queen," revamped her New York City apartment with a floral accent wall just outside her bedroom. Peel-and-stick wallpaper is beginner-friendly and designed to be easy to remove — so there's no sticky residue left behind for the next tenant. Make Faux Stained Glass While it may look permanent, this striking stained glass panel is simply leaning against the window sill (you can also try mounting it with mirror hanging hardware). To personalize a rental, design blogger Mandi Johnson creates custom stained glass using a glass panel, lead adhesive strips and glass paint. Create the Illusion of Built-In Shelving Decorate a blank white wall with floor-to-ceiling bookcases that are lightweight and easy to mount (helpful for when it's time to move to your next apartment). You may need to drill a few holes into the wall, but it's easy enough to patch them up when the lease ends. Consider a Peel-and-Stick Backsplash Your rental may not have your dream kitchen, but small changes — like an earth-toned mosaic backsplash — can have a huge impact. Peel-and-stick kitchen backsplashes look like ceramic or porcelain tiles, but are mostly commonly made from thick vinyl. They typically come in 10- to 12-inch square sections that can be arranged and cut to fit your space. Swap out Light Fixtures Trade boring light fixtures for flush mounts, pendants and chandeliers that spark joy. Design influencer Bridgette Muller thinks it's well worth hiring a professional. "I've been told it's not super hard to do, but I live in a 96-year-old building, so I definitely don't want to be messing with wires of that age," she says. If you plan to take the fixtures when you move out, hold onto the originals so you can swap them back in again before you go. Embrace Tile Stickers in the Bathroom Waterproof vinyl tile stickers make it easy to cover dated bathroom floors with a playful pattern of your choosing. You can even use tile decals on shower floors or walls. Keep in mind: Tile stickers won't work on every surface, so make sure to read product descriptions before purchasing them. Replace Light Switch Covers My Jersey City rental has been given the "landlord special" in more than one way, but what drove me crazy were the outlet and light switch covers dotted with black wall paint. Light switch covers cost around $1 and a fresh one makes the room look newer! For a pop of personality, there's plenty of funky light switch covers, too. Change the Shower Head Of course, if your showerhead doesn't work properly, your landlord should be responsible for replacing it. But, feel free to tackle the project on your own if you prefer something more aesthetic (like the gold fixture pictured here, chosen by Arterberry Cooke) or a shower filter option. For the most part, replacing a showerhead doesn't require any technical skills or knowledge of plumbing. Divide Rooms With Curtains Designer Brigette Muller, who lives in a railroad-style apartment in Brooklyn, uses curtains to create a bit of separation between her bed nook and living room. "Curtains — and textiles in general — are the key to making a space feel like home," she says. "They really help soften the space, and are such a great way to add a little bit of color, pattern or texture." Try Removable Tiles in the Kitchen Shelby Turner recently removed these blue geometric peel-and-stick tiles from her kitchen floor. Although it took a lot longer than expected to clear all the residue, Turner says "I would totally do these renter-friendly upgrades again!" "When it comes to flooring, I would never lay peel-and-stick floor directly onto the floor in my rental again," she adds. Try putting a layer of poster paper or a shower liner between the original floors and the peel-and-sticks. Cover up Old Countertops In the same apartment, Turner covered her plain white kitchen countertops with marble contact paper for a more luxe look. Following the process of removal, which involved using a hair dryer, a bottle of Goo Gone and manual scrapping, the influencer rated the removal a 7 out of 10. Build a Faux Fireplace Recreate the beauty of a real fireplace by crafting an antique-inspired mantel. Shelby Vanhoy of Pretty in the Pines created this statement piece using MDF board and roman clay, plus peel-and-stick brick panel for the center. The best part? You can take it with you when you move out! Update Cabinet Hardware Swap out simple kitchen knobs and pulls — just be sure to store them somewhere safe and replace them before you move out. Here, Kitchen Design Group’s Caren Rideau pairs statement gold hardware with white cabinetry for a chicer style. For expert guidance and support throughout your journey, reach out to Benson Group  when you're ready to take the next step towards finding your dream home. ---------- Source: goodhousekeeping.com

For expert guidance and support throughout your journey, reach out to Benson Group  when you're ready to take the next step towards finding your dream home.

According to realestate.usnews.com, navigating the real estate market can be challenging, with various pitfalls for both buyers and sellers. Here are some common mistakes and tips to avoid them. Mistakes Buyers Make 1. Getting Bad Advice Many buyers fall into the trap of taking advice from well-meaning but uninformed friends or family. Real estate markets are highly localized, and what worked in one area might not apply to another. Trusting a knowledgeable real estate expert is crucial for making informed decisions. 2. Waiting Too Long to Engage a Buyer’s Agent Prospective buyers often delay hiring a buyer’s agent, only to find themselves scrambling to make a competitive offer. Engaging an experienced agent early ensures you understand the market dynamics and mortgage options, helping you make strategic offers. 3. Relying on Online Listings While online searches are a great start, they can't replace the experience of visiting a property in person. Photos can be misleading, highlighting a property's best features while hiding flaws. Visiting in person provides a true sense of the home's layout, lighting, and surrounding area. 4. Searching for the Perfect Home The perfect home rarely exists. Buyers who are too fixated on specific criteria might miss out on great opportunities. Being open to different neighborhoods and property types can lead to finding a home that meets most of your needs and might even exceed your expectations. Mistakes Sellers Make 1. Hiring the Wrong Agent Choosing an agent who promises the highest price might lead to disappointment if the price is unrealistic. Interview multiple agents, review comparable properties, and be realistic about your home's value and shortcomings. 2. Neglecting Staging and Repairs First impressions matter. Homes that look lived-in or tired can struggle to attract buyers. Staging your home to look fresh and addressing minor repairs can significantly increase its appeal and value. 3. Ignoring Open or Missing Permits Unresolved permit issues can delay or derail a sale. Ensure all work permits are closed before listing your home. Addressing these issues early prevents last-minute complications and delays during the closing process. Avoiding these common mistakes can help you navigate the real estate market more effectively, whether you are buying or selling a home. Working with trusted professionals and staying informed about market conditions can make the process smoother and more successful. For expert guidance and support throughout your journey, reach out to Benson Group  when you're ready to take the next step towards finding your dream home. ---------- Source: realestate.usnews.com

If you haven’t purchased a home before, you probably have lots of questions about the process. And if you’ve recently overheard a work colleague talk about buying a house without a real estate agent, you might wonder if you really need one. Yes, you can buy a house without an agent, but for buyers, a good agent can make all the difference — simplifying the process and ensuring you find the right home for your lifestyle and budget. They can also help you navigate market conditions and maximize your dollar. An agent is your advocate Your agent works on your behalf, handling everything from finding available homes and arranging viewings to advising on first-time buyer programs and recommending mortgage lenders. They help you write a compelling offer, guide you through due diligence, inspections, and coordinate with the closing attorney and seller’s agent to finalize the sale. Agents really know the real estate market Agents have deep market knowledge beyond what you find online. They can direct you to homes that match your preferences and budget, and advise on neighborhoods that offer good deals or are becoming overpriced. Is the price right? An agent will know Agents understand market conditions and can advise on making competitive offers, navigating contingencies, and closing timelines that work for both you and the seller. An agent can help you find a home faster Agents often know about properties coming on the market before the public does, crucial in competitive markets with low inventory and multiple offers. You won’t just have an agent; you’ll have a network Agents have connections with mortgage lenders, inspectors, appraisers, and more. They can recommend trusted professionals and help you access 'coming soon' listings. Agents can expand your horizons They can introduce you to neighborhoods and homes you may not have considered, broadening your options based on your needs and budget. Agents can help you spot red flags Experienced agents can identify potential issues with homes that you might overlook, potentially saving you money and future headaches. Agents can help you be more competitive They can offer creative solutions to make your offer stand out, like unique clauses or programs that enhance your buying power. Agents know how to write a contract Agents are skilled in drafting legally binding contracts and guiding you through the complex transaction process, ensuring everything meets legal requirements and timelines. Agents know how to negotiate Whether it's price, terms, or contingencies, agents are adept at negotiating on your behalf, ensuring your interests are protected throughout the buying process. Ready to navigate the path to your dream home? Contact Benson Group today for expert guidance through every step of the journey. ---------- Source: homelight.com

On Fed Day, the Federal Reserve announced another hold for its benchmark federal funds rate. While many believe the central bank's actions influence mortgage rates, inflation plays a much larger role in determining the rates mortgage lenders offer. Coincidentally, significant inflation news was also released. The May Consumer Price Index (CPI) was released, showing that May prices were flat compared to April, an improvement from April's 0.3% uptick. Year-over-year inflation also dipped slightly from 3.4% in April to 3.3% in May, surprising economists who predicted a May increase of 0.1% and an unchanged yearly rate of 3.4%. The Impact of Inflation on Mortgage Rates The mortgage lending market is influenced by inflation, consumer demand, housing supply, economic strength, and the bond market, especially 10-year Treasury yields. While any downturn in inflation is good news for home buyers, inflation rates remain elevated. After hitting a 40-year high of 9.1% in June 2022, the Federal Reserve aggressively raised rates, resulting in a lower inflation rate of 3.0% by June 2023. However, inflation has since wavered above 3%. Inflation's impact on mortgage rates is evident. When inflation readings in September and October were 3.7%, mortgage rates surged to their highest level in over 20 years. Rates later sank in February after inflation dipped to 3.1%, but then jumped again after a 0.3% increase in March. Wednesday's inflation report was welcome news for those hoping for lower mortgage rates in 2024, though the immediate impact may be minor due to the slight dip from April to May. Mid-Day Mortgage Rate Movement At the time of publishing, mid-day mortgage rate movement showed a 9 basis point decline in the 30-year average, with a further drop of 16 basis points to 6.83% by 5 p.m. Eastern. What 2024 Fed Decisions Could Mean for Home Buyers The Federal Reserve announced that it's holding the federal funds rate at its current level. While Wednesday's inflation reading suggests a downward trend, the Fed needs more evidence of sustained inflation reduction before cutting rates. It's expected the Fed will hold its benchmark rate steady for one more meeting in July. According to the CME Group's FedWatch Tool, traders predict the first Fed rate cut will be announced at the Sept. 18 meeting, potentially leading to mortgage rate declines in 2024. How We Track Mortgage Rates The national and state averages are provided via the Zillow Mortgage API, assuming an 80% loan-to-value (LTV) ratio and a credit score in the 680–739 range. These rates are representative of what customers should expect when receiving actual quotes from lenders based on their qualifications. The latest inflation report offers hope for lower mortgage rates in 2024. While the immediate impact may be modest, the trend suggests potential rate reductions. With the Federal Reserve holding the federal funds rate steady, staying informed is crucial as the real estate market evolves. For personalized guidance and to navigate these changes effectively, contact Benson Group for expert real estate advice and support. ---------- Source: investopedia.com

The Bay Area's real estate market has seen a significant shift, with 33 cities now boasting typical home values exceeding $2 million. This exclusive list includes both well-known enclaves and former farm towns transformed into affluent communities. New Entrants to the Two-Million-Dollar Club Danville is a notable newcomer. This town of 43,000 near Mount Diablo has seen its median home price nearly double from $1.2 million in 2016 to $2 million. Residents like Jennifer Youngblood have witnessed dramatic changes. Her parents bought their home in Danville in 1970 for $37,500, and the town has since evolved with modern schools, upscale mansions, and a scenic 30-mile trail replacing old train tracks. Pandemic Effects on Real Estate Real estate agent Kevin Cox noted that the pandemic spurred demand for homes in communities like Danville, where larger lots and a suburban lifestyle became more appealing. Danville's home values surged by 7% in a year, one of the highest growth rates among the two-million-dollar cities. Despite its growth, Danville retains a small-town charm, making it an ideal place to raise a family. Limited Development Fuels Value A significant factor driving up home values is the limited availability of new construction. Many towns in the two-million-dollar club maintain their status by restricting new developments. Woodside, with typical home values at $3.8 million, declared itself a mountain lion habitat to avoid new state housing laws. Lafayette residents fought a developer for 12 years over a 315-unit project, while Atherton's elite, including tech executives and celebrities like Steph Curry, opposed plans to add new housing units. Bay Area Real Estate Trends The trend shows no signs of slowing. In May 2024, the median price for single-family homes across the nine-county Bay Area was $1.46 million, marking the fourth consecutive month of price increases. Santa Clara County's median home price exceeded $2 million for the first time in April 2024, indicating that more cities could soon join the two-million-dollar club. Are you looking to navigate the Bay Area's dynamic real estate market? Whether you're buying, selling, or investing, Benson Group is here to help you make informed decisions. ---------- Source: eastbaytimes.com