Merritt Real Estate Blog

Why Summer Is a Great Time To Buy a Vacation Home

Why Summer Is a Great Time To Buy a Vacation Home

You may be someone who looks forward to summer each year because it gives you an opportunity to rest, unwind, and enjoy more quality time with your loved ones. Now that summer is just around the corner, it’s worthwhile to start thinking about your plans and where you want to spend your vacations this year. Here are a few reasons a vacation home could be right for you.

Why You May Want To Consider a Vacation Home Today

Over the past two years, a lot has changed. You may be one of many people who now work from home and have added flexibility in where you live. You may also be someone who delayed trips for personal or health reasons. If either is true for you, there could be a unique…

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How Buying or Selling a Home Benefits the Economy and Your Community

How Buying or Selling a Home Benefits the Economy and Your Community

If you’re thinking of buying or selling a home, chances are you’re focusing on the many extraordinary ways it’ll change your life. But do you know it has a large impact on your community too?

To measure that impact, the National Association of Realtors (NAR) releases a report each year to highlight just how much economic activity a home sale generates. The chart below shows how the sale of both a newly built home and an existing home impact the economy:

As the visual shows, a single home sale can have a significant effect on the overall economy. To dive a level deeper, NAR also provides a detailed look at how that varies state-by-state for newly built homes (see map…

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Sellers Have an Opportunity with Today’s Home Prices

Sellers Have an Opportunity with Today’s Home Prices

As mortgage rates started to rise this year, many homeowners began to wonder if the value of their homes would fall. Here’s the good news. Historically, when mortgage rates rise by a percentage point or more, home values continue to appreciate. The latest data on home prices seems to confirm that trend.

According to data from CoreLogic, home price appreciation has been re-accelerating since November. The graph below shows this increase in home price appreciation in green:

This is largely due to an ongoing imbalance in supply and demand. Specifically, housing supply is still low, and demand is high. As mortgage rates started to rise this year, many homebuyers rushed to make their…

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Work With a Real Estate Professional if You Want the Best Advice

Work With a Real Estate Professional if You Want the Best Advice

Because buying or selling a home is such a big decision in our lives, the need for clear, trustworthy information and guidance is crucial. And while no one can give you perfect advice, when you align yourself with an expert, you’ll get the best advice for your situation.

An Expert Will Give You the Best Advice Possible

Let’s say you need an attorney, so you seek out an expert in the type of law required for your case. When you go to their office, they won’t immediately tell you how the case is going to end or how the judge or jury will rule. What a good attorney can do, though, is discuss the most effective strategies you can take. They may recommend one or two approaches…

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Don’t Let Rising Inflation Delay Your Homeownership Plans

Don’t Let Rising Inflation Delay Your Homeownership Plans

Some Highlights

• If recent headlines about rising inflation are making you wonder if it’s still a good time to buy, here’s what experts have to say.
• Housing is an asset that typically grows in value. Plus, your mortgage helps stabilize your monthly housing costs, and buying protects you from rising rents.
• Experts say owning a home is historically a good hedge against inflation. Let’s connect if you’re ready to start the homebuying process today.

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The One Thing Every Homeowner Needs To Know About a Recession

The One Thing Every Homeowner Needs To Know About a Recession

A recession does not equal a housing crisis. That’s the one thing that every homeowner today needs to know. Everywhere you look, experts are warning we could be heading toward a recession, and if true, an economic slowdown doesn’t mean homes will lose value.

The National Bureau of Economic Research (NBER) defines a recession this way:

“A recession is a significant decline in economic activity spread across the economy, normally visible in production, employment, and other indicators. A recession begins when the economy reaches a peak of economic activity and ends when the economy reaches its trough. Between trough and peak, the economy is in an expansion.”

To help show…

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How Homeownership Can Bring You Joy

How Homeownership Can Bring You Joy

If you're trying to decide whether to rent or buy a home, you're probably weighing a few different factors. The financial benefits of homeownership might be one of the reasons you want to make a purchase if you’re a renter, but the decision can also be motivated by having a place that’s uniquely your own.

If you want to express yourself by upgrading and customizing your living space but are feeling held back by your rental agreement, it might be time to consider the perks of owning your home.

A Little Change Can Bring Lots of Joy

There’s a significant level of pride that comes from owning a home. That’s because it’s a space that truly belongs to you.

A recent report from the National Association of…

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Why Rising Mortgage Rates Push Buyers off the Fence

Why Rising Mortgage Rates Push Buyers off the Fence

If you’re thinking about buying a home, you’ve probably heard mortgage rates are rising and have wondered what that means for you. Since mortgage rates have increased over two percentage points this year, it’s natural to think about how this will impact your homeownership plans.

Today, buyers are reacting in one of two ways: they’re either making the decision to buy now before rates climb higher or they’re waiting it out in hopes rates will fall. Let’s look at some context that can help you understand why so many buyers are jumping off the fence and into action rather than waiting to buy.

A Look Back: How the Current Mortgage Rate Compares to Historical Data

One factor that could help…

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If You’re a Homeowner, You Have Incredible Leverage When You Sell Today

If You’re a Homeowner, You Have Incredible Leverage When You Sell Today

In today’s housing market, homeowners have a great opportunity to sell their house and receive the best terms for their personal situation. That’s because there’s a limited number of homes for sale, which is creating competition among buyers. Right now, homebuyers want three things:

• To be the winning bid on their dream home
• To buy before mortgage rates rise more
• To buy before home prices go even higher

These buyer needs give you an amazing advantage – also known as leverage – when you sell.

What Does This Mean for Sellers Today?

You might already realize this enables you to sell at a good price, but you’re also in a great position to get the best…

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Should You Update Your House Before Selling? Ask a Real Estate Professional.

Should You Update Your House Before Selling? Ask a Real Estate Professional. 

Some Highlights

• If you’re deciding whether you should make updates before you sell your house, lean on your trusted real estate advisor to be your guide.
• In today’s sellers’ market, buyers have limited options and may be more willing to take on repairs themselves.
• If you’re thinking about selling your house, let’s connect so you have expert advice that’s customized to your home and our local area.

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