Realty Executives Midwest
If you’re thinking about buying a home, you’re likely trying to juggle your needs, current mortgage rates, home prices, your schedule, and more to try to decide if you want to jump into the market.
If this sounds like you, here’s one key factor that could help you with your decision: there are more homes for sale today than there were at this time last year. According to Calculated Risk, for the week ending in November 18th, there were 47.7% more homes available for sale than there were at the same time in 2021. And having more options for your home search may be exactly what you need to feel confident about making a move.
Here’s a look at where the increased housing supply is coming from so you can get a better sense of what’s happening in the market today and what it means for you.
The increase we’ve seen in housing supply this year isn’t from the source you think it is. Rather than an influx of recent homeowners listing their houses for sale (known as new listings), the primary reason the supply has grown is because homes are staying on the market a bit longer (known as active listings).
That’s happening because higher mortgage rates and home prices have helped moderate the peak frenzy of buyer demand, which has slowed down the pace of sales. And, as the pace of sales has eased, inventory has grown as a result.
The graph below uses data from realtor.com to show that it’s active listings, not new listings, that have driven the growth we’ve seen over the past few months:
And while overall inventory gains may slow down this winter due to typical housing market seasonality, you still have a chance to capitalize on the current supply.
Regardless of the source, the increase in available housing supply is good for buyers. More homes available for sale means you have more options to choose from as you search for your next home, and you may even have more time to consider them.
So, if you tried to buy a home last year and lost out in a bidding war or just couldn’t find something you liked, this may be the news you’ve been waiting for. If you start your search today, those additional options should make it less difficult to find a home you love, especially as some other buyers pause their search this holiday season.
Just remember, housing supply is still low overall, so it won’t suddenly be easy – it’ll just be less challenging than it was at this time last year. As a recent article from realtor.com says:
“Despite this improvement in the number of homes actively for sale, active listings still lag their pre-pandemic levels.”
The increase in housing supply helps put you in a great position to kick off the new year in your dream home. And who better to help you find it than a trusted, local real estate professional?
If you’re ready to jump into the housing market and see what’s available in your local area, connect with a trusted real estate professional today.
Source: Keeping Current Matters
Realty Executives Midwest
1310 Plainfield Rd. Ste 2 | Darien, IL 60561
Office: 630-969-8880
E-Mail: experts@realtyexecutives.com
The holidays are a time for family, friends, and of course, delicious food. If you’re like most people, you might be scrambling at the last minute to come up with some new recipe ideas. Never fear – we’ve got you covered!
In this article, we will share 25 recipes that will save your holiday feast. From sweet treats to savory dishes, there is something for everyone. So, relax and enjoy the holidays – let us take care of the brainstorming!
The holidays are a time for family, friends, and of course, delicious food. A lot of people like to have sweet things at their holiday feast. That’s why we’re starting with recipes for sweet treats.
1. Cranberry-Pistachio Biscotti: A festive twist on a classic Italian cookie, these biscotti are perfect for dipping in your morning coffee or tea. Set some aside as small gifts for unexpected visitors.
2. Chocolate-Dipped Shortbread Cookies: These simple yet delicious cookies are a holiday staple in many households. Shape them into festive shapes for added decor.
3. Gingerbread Men: A holiday favorite, these gingerbread cookies are perfect for decorating with the kids. If you are short on time, you can purchase them instead of baking them in advance.
4. Peppermint Bark: A festive and easy-to-make treat, peppermint bark is perfect for gifting or enjoying yourself! Consider grabbing some decorative tins to help turn the bark into a sweet gift.
5. Spiced Hot Cocoa: This rich and creamy hot cocoa will warm you up on a cold winter day. Add a little extra holiday cheer with a shot of rum or brandy.
6. Pumpkin Pie: A classic Thanksgiving dessert, pumpkin pie is always a hit- even on other holidays. Serve it with a dollop of whipped cream for an extra special treat.
7. Apple Crisp: This comforting dessert is perfect for using up any leftover apples from your holiday baking. There are few ingredients in a crisp, so it is a great recipe for those who are short on time or supplies at home.
8. Pecan Pie: A Southern favorite, pecan pie is a must-have at any holiday gathering. Not up for making a full pie? Try pecan pie muffins instead or brownies for a fresh spin. You can also make this dessert in advance and freeze it until needed.
9. Chocolate Chip Cookies: A classic cookie that is always a hit, chocolate chip cookies are perfect for sharing with friends and family. Add nuts, pretzels, or other treats to boost the flavor.
10. Sugar Cookies: Another classic cookie, sugar cookies are perfect for decorating with the kids. Use different shapes of cookie cutters to maximize the fun.
11. Fruitcake: Love it or hate it, fruitcake is a holiday tradition in many households. Give it a try this year! Make sure to set aside plenty of time. With a multitude of ingredients, this recipe takes well over two hours from start to finish.
12. Eggnog: A holiday favorite, eggnog is rich and creamy and perfect for sipping by the fire. Make it even more special by adding a shot of rum or brandy. There are plenty of eggnog options at the local grocery but making it at home will allow you to put your special spin on it.
13. Pumpkin Spice Latte: This popular fall drink can also be enjoyed during the holidays! Best of all, you can make a big slow cooker version for easy serving.
Savory snacks are perfect for satisfying your hunger between meals, and they come in all shapes and sizes. From chips and crackers to dips and spreads, there is sure to be a savory snack that fits your taste buds.
1. Cheese Ball: A holiday party classic, cheese balls are always a hit. Serve with a variety of crackers or crudités for dipping. This is one of the most versatile savory options on our list- ingredients range from onion and bacon to cranberry and almond.
2. Deviled Eggs: A delicious and easy-to-make appetizer, deviled eggs are perfect for any holiday gathering. You can make variations with ingredients like sriracha, cheese, chives, and more.
3. Sausage Balls: A tasty and kid-friendly snack, sausage balls are great for munching on during the holidays. Plus, serving them is as simple as putting a toothpick in them for guests to grab easily.
4. Pigs in a Blanket: Another crowd-favorite, pigs in a blanket are perfect for snacking on during holiday movies or gatherings. This is one of the easiest recipes to put together- crescent rolls and any kind of sausage will work.
5. Holiday Crackers: A festive twist on regular crackers, these are perfect for enjoying with cheese or dips.
6. Candied Bacon: A delicious and unique appetizer, candied bacon is perfect for any holiday party. If the oven is occupied with other holiday dishes, try cooking this in the air fryer.
7. Mini Quiche: A bite-sized version of a classic brunch dish, mini quiches are perfect for any holiday gathering. Choose your favorite mix-ins (bonus points for meat and veggie options) and whip up something special.
8. Spinach Artichoke Dip: A creamy and flavorful dip, spinach artichoke dip is perfect for enjoying with crackers or crudités. In the unlikely event that there are leftovers, use the dip as a stuffing for chicken. It’s an indulgent dinner you won’t forget!
9. Guacamole: A party favorite, guacamole is perfect for any holiday gathering. Serve with chips or use it as a condiment for tacos or burritos.
10. Chicken Wings: A favorite party food, chicken wings are perfect for any holiday gathering. There are all types of marinades, dry rubs, and sauces for those who want to switch it up from the classic buffalo wing. You can also bake, fry, and grill the wings, depending on the recipe. Remember to serve the wings with a variety of sauces for dipping.
11. Vegetable Tray: A healthy and festive option, vegetable trays are perfect for any holiday party. Arrange the veggies on the plate to minimize empty space and emphasize the gorgeous colors. Serve with a variety of dips or hummus.
12. Hummus: A delicious and healthy dip, hummus is perfect for any holiday party. Serve with a variety of vegetables, crackers, and pita for maximum flavor. Consider adding in garlic, olives, roasted red pepper, and more to create delicious variations.
With all these ideas for holiday food, the most difficult part will be deciding what to serve. Grab those ingredients early so you have them on hand and enjoy spending time with family and friends this holiday season.
Source: Realty Executives
Realty Executives Midwest
1310 Plainfield Rd. Ste 2 | Darien, IL 60561
Office: 630-969-8880
E-Mail: experts@realtyexecutives.com
Buying a home is a powerful decision, and it remains a key part of the American Dream. In fact, the 2022 Consumer Insights Report from Mynd found the majority of people polled still view homeownership as a key life achievement. Let’s explore just a few of the reasons why so many Americans continue to value homeownership.
One possible reason homeownership is viewed so highly is because owning a home is a significant wealth-building tool, and it provides meaningful financial stability over renting by locking in your monthly housing payments for the length of your home loan. An article from Forbes explains:
“Understanding the potential benefits of homeownership helps individuals see the value of owning property instead of renting. . . . household wealth among homeowners is a whopping 1,469% higher on average compared to renters, excluding home equity, making the allure of homeownership even more enticing.”
Over time, owning a home not only helps boost your own net worth, but it also sets future generations up for success as you pass that wealth down. That may be why the Mynd report also says:
“Most Americans (78%) still associate homeownership with the ‘American dream.’ And nearly two-thirds of Americans (65%) see homeownership as a means of building intergenerational wealth.”
While the financial benefits of owning a home are important, becoming a homeowner impacts you on a social and emotional level, too. As Mark Fleming, Chief Economist for First American, says:
“. . . buying a home is not just a financial decision. It’s also a lifestyle decision.”
Your home provides feelings of achievement, responsibility, and more. 3by30 highlights the top 10 benefits homeowners enjoy. A few non-financial advantages include:
If your definition of the American Dream involves greater freedom and prosperity, then homeownership could play a major role in helping you achieve that dream. While it may feel challenging to buy a home today as mortgage rates and home prices rise, if the time is right for you, know that there are incredible benefits waiting for you at the end of your journey. You’ll have a place you can grow your wealth, call your own, and feel most comfortable.
Like the National Association of Realtors (NAR) says:
“. . . research has consistently shown that homeownership is also associated with multiple economic and social benefits to individual homeowners. Homeownership has always been an important way to build wealth.”
Buying a home is a powerful decision and a key part of the long-term dream for many Americans. And if homeownership is part of your dreams this year, connect with a local real estate advisor to start the process today.
Source: Keeping Current Matters
Realty Executives Midwest
1310 Plainfield Rd. Ste 2 | Darien, IL 60561
Office: 630-969-8880
E-Mail: experts@realtyexecutives.com
As you look ahead to the winter season, you’re likely making plans and thinking about what you want to achieve before the year ends. One of those key decision points could be whether or not you want to move this year. If the location or size of your current home no longer meets your needs, finding a house that better suits your lifestyle may be a top priority for you. But with today’s cooling housing market, is it really a good time to sell your house, or should you wait?
If you’re ready to make your decision, here are three reasons you may want to consider selling before the holidays.
Typically, in the residential real estate market, homeowners are less likely to list their houses toward the end of the year. That’s because people get busy around the holidays and deprioritize selling their house until the start of the new year when their schedules and social calendars calm down.
Selling now, while other homeowners may hold off until after the holidays, can help your house stand out. Start the process with a real estate professional today so you can get your house on the market and get ahead of your competition.
Even though housing supply has increased this year as buyer demand has moderated, it’s still low overall. That means there aren’t enough homes on the market today, especially as the millennial generation reaches their peak homebuying years. As Mark Fleming, Chief Economist at First American, says:
“While not the frenzy of 2021, the largest living generation, the Millennials, will continue to age into their prime home-buying years, creating a demographic tailwind for the housing market.”
Serious buyers will still be looking this winter and your house may be exactly what they’re searching for. If you work with an agent to list your house now, you’ll be able to get in front of the eager buyers who are hoping to make a move before the year ends.
Don’t forget, today’s homeowners have record amounts of equity. According to CoreLogic, the average amount of equity per mortgage holder has climbed to almost $300,000. That’s an all-time high. That means the equity you have in your house right now could cover some, if not all, of a down payment on the home of your dreams.
And as you weigh the reasons to sell before winter, don’t lose sight of why you’re thinking about moving in the first place. Maybe it’s time to buy a house that’s in a better location for you, has the space you and your loved ones have been craving, or simply gives you that sense of home. A trusted real estate advisor can help you determine how much home equity you have and how you can use it to achieve your goal of making a move.
If you’re thinking about selling your house so you can find a home that better suits your needs, don’t delay your plans. Work with a local real estate professional to accomplish your goals before winter.
Source: Keeping Current Matters
Realty Executives Midwest
1310 Plainfield Rd. Ste 2 | Darien, IL 60561
Office: 630-969-8880
E-Mail: experts@realtyexecutives.com
While the Federal Reserve is working hard to bring down inflation, the latest data shows the inflation rate is still high, remaining around 8%. This news impacted the stock market and added fuel to the fire for conversations about a recession.
You’re likely feeling the impact in your day-to-day life as you watch the cost of goods and services climb. The pinch it’s creating on your wallet and the looming economic uncertainty may leave you wondering: “should I still buy a home right now?” If that question is top of mind for you, here’s what you need to know.
In an inflationary economy, prices rise across the board. Historically, homeownership is a great hedge against those rising costs because you can lock in what’s likely your largest monthly payment (your mortgage) for the duration of your loan. That helps stabilize some of your monthly expenses. James Royal, Senior Wealth Management Reporter at Bankrate, explains:
“A fixed-rate mortgage allows you to maintain the biggest portion of housing expenses at the same payment. Sure, property taxes will rise and other expenses may creep up, but your monthly housing payment remains the same.”
And with rents being as high as they are, the ability to stabilize your monthly payments and protect yourself from future rent hikes may be even more important. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains what happened to rents in the latest inflation report:
“Inflation refuses to budge. In September, consumer prices rose by 8.2%. Rents rose by 7.2%, the highest pace in 40 years.”
When you rent, your monthly payment is determined by your lease, which typically renews on an annual basis. With inflation high, your landlord may be more likely to increase your payments to offset the impact of inflation. That may be part of the reason why a survey from realtor.com shows 72% of landlords said they plan to raise the rent on one or more of their properties in the next year.
Becoming a homeowner, if you’re ready and able to do so, can provide lasting stability and a reliable shelter in times of economic uncertainty.
The best hedge against inflation is a fixed housing cost. If you’re ready to learn more and start your journey to homeownership, connect with a real estate professional today.
Source: Keeping Current Matters
Realty Executives Midwest
1310 Plainfield Rd. Ste 2 | Darien, IL 60561
Office: 630-969-8880
E-Mail: experts@realtyexecutives.com
Realty Executives agents are real estate experts. They have the education and expertise you need to navigate through the process of buying or selling a home. From listing at the right price to making the best offer, our Executives have witnessed the best - and most regrettable - decisions homeowners and homebuyers can make. Every day, they are immersed in every aspect of real estate that includes comparable home price analysis, property surveys, credit reports, open houses, HOA agreements, lenders, title companies, homeowners’ insurance, walk-throughs, terms of sale or purchase, repairs, concessions and closing documents. Let our accomplished Executives help navigate you through the process of buying or selling a home.
