From Frenzy to Breathing Room: Buyers Finally Have Time Again

August 22, 2025/in Uncategorized/by Brian Bemo

If you tried to buy a home a few years ago, you probably still remember the frenzy. Homes were listed one day and gone the next. Sometimes it only took hours. You had to drop everything to go and see the house, and if you hesitated even slightly, someone else swooped in and bought it – sometimes even sight unseen.

That kind of intensity pushed a lot of buyers to the sidelines. It was stressful, chaotic, and for many, really discouraging.

But here’s what you need to know: those days are behind us.

Today’s market is moving slower, in the best possible way. And that’s creating more opportunity for buyers who felt shut out in recent years.

The Stat That Changes Everything

According to the latest data, homes are spending an average of 58 days on the market. That’s much more normal. And it’s a big improvement compared to the height of the pandemic, when homes were flying off the shelves in a matter of days (see graph below):

That means you now have more time to make decisions than you have at any point in the past five years. And that’s a big deal. Now, you’ve got:

Time to think.

Time to negotiate.

Time to make a smart move without all the pressure.

More Time Means Less Stress (and More Leverage)

Based on the data in the graph above, you have an extra week to decide compared to last year. And nearly double the time you would have had at the market’s peak.

Back then, fear of missing out drove buyers to act fast, sometimes too fast. Today, the pace is slower, which means you’re in control. As Bankrate puts it:

“For years, buyers have been racing to snag homes because of the fierce competition. But the market’s cooled off a bit now, and that gives buyers some breathing room. Homes are staying listed longer, so buyers can slow down, weigh their options and make more confident decisions.”

With more homes on the market and fewer buyers racing to grab them, the balance has shifted. Bidding wars aren’t as common, and that means you may have room to negotiate. And you can actually take a breath before you make your decision.

More listings + a slower pace = less stress and more opportunity

But, and this is important, it still depends on where you’re buying. Nationally, homes are moving slower. But your local market sets your real pace. Some states are moving faster than others. It may even vary down to the specific zip code or neighborhood you’re looking at. And that’s why working with an agent to know what’s happening in your area is more important than ever.

To see how your state compares to the national average (58 days), check out the map below:

As Realtor.com explains:

“While national headlines might suggest a buyer’s market is taking hold, the reality on the ground depends heavily on where and what you’re trying to buy. Local trends can diverge sharply from national averages, especially when you factor in price range, property type, and post-pandemic market dynamics.”

A smart local agent can tell you exactly when to move fast and when you can take your time, so you never miss the right home for you.

Bottom Line

If the chaos of the past few years drove you to hit pause, this is your green light. The market’s pace has shifted. You have more time. More options. More power.

And with the right agent guiding you, you’re in the best position you’ve been in for years.

Let’s talk about what the pace looks like in our area, and if now could be the right time for you to re-enter the market.

Is It Better To Buy Now or Wait for Lower Mortgage Rates? Here’s the Tradeoff

August 17, 2025/in Uncategorized/by Brian Bemo

Mortgage rates are still a hot topic – and for good reason. After the most recent jobs report came out weaker than expected, the bond market reacted almost instantly. And, as a result, in early August mortgage rates dropped to their lowest point so far this year (6.55%).

While that may not sound like a big deal, pretty much every buyer has been waiting for rates to fall. And even a seemingly small drop like this reignites the hope we’re finally going to see rates trending down. But what’s realistic to expect?

According to the latest forecasts, rates aren’t expected to fall dramatically anytime soon. Most experts project they’ll stay somewhere in the mid-to-low 6% range through 2026 (see graph below):

In other words, no big changes are expected. But small shifts, like the one we just saw, are still likely.

Each time there’s changing economic news, there’s a chance mortgage rates will react. And with so many reports coming out this week, we’ll get a better feeling of where the economy and inflation are headed – and how rates will respond.

What Rate Would Get Buyers Moving Again?

The magic number most buyers seem to be watching for is 6%. And it’s not just a psychological benchmark; it has real impact. A recent report from the National Association of Realtors (NAR) says if rates reach 6%:

5.5 million more households could afford the median-priced home
And roughly 550,000 people would buy a home within 12 to 18 months

That’s a lot of pent-up demand just waiting for the green light. And if you look back at the graph above, you’ll see Fannie Mae thinks we’ll hit that threshold next year. That raises an important question: Does it really make sense to wait for lower rates?

Because here’s the tradeoff. If you’re waiting for 6%, you need to realize a lot of other people are too. And when rates do continue to inch down and more buyers jump into the market all at once, you could face more competition, fewer choices, and higher home prices. NAR explains it like this:

“Home buyers wishing for lower mortgage interest rates may eventually get their wish, but for now, they’ll have to decide whether it’s better to wait or jump into the market.”

Consider the unique window that exists right now:

Inventory is up = more choices
Price growth has slowed down = more realistic pricing
You may have more room to negotiate = you could get a better deal

These are all opportunities that will go away if rates fall and demand surges. That’s why NAR says:

“Buyers who are holding out for lower mortgage rates may be missing a key opening in the market.”

Bottom Line

Rates aren’t expected to hit 6% this year. But when they do, you’ll have to deal with more competition as other buyers jump back in. If you want less pressure and more negotiating power, that opportunity is already here – and it might not last for long. It all depends on what happens in the economy next.

Let’s talk about what’s happening in our area and whether it makes sense to make your move now, before everyone else does.

Why Selling Without an Agent Can Cost You More Than You Think

August 9, 2025/in Uncategorized/by Brian Bemo

Cutting out the agent might seem like a smart way to save when you sell your house. But here’s the hard truth.

Last year, homes that sold with an agent went for almost 15% more than those that sold without one.

That gap is pretty hard to ignore. And with more homes on the market to compete with right now, selling on your own is a mistake that’s going to cost you.

This Isn’t the Market for DIY Selling

A few years ago, you might’ve gotten away with a “For Sale By Owner” (FSBO) sign in your yard, navigating the process on your own. That’s because homes were flying off the market and buyers were pulling out all the stops. But that’s just not the case anymore. With more inventory than we’ve seen in years, we’re not in a “list it and they will come” market anymore. You need professional expertise.

A yard sign and some photos you take on your own won’t cut it.

Right now, the housing market is getting back to what most would consider a more normal balance of buyers and sellers, and that really changes the game. According to Realtor.com, the latest number of listings for sale was the highest it’s been in any month of July since 2019 (see graph below):

And while inventory growth is going to vary by local market, nationally, this graph shows the number of homes for sale is inching back toward normal.

With more listings available, that means buyers can be more selective. They’ll compare your home to others on price, condition, photos, location, and more. If yours doesn’t stand out, it will get skipped over.

More Inventory = More Competition for You

Selling today requires the latest pricing strategy, expert prep work, professional marketing, and strong negotiation skills. And if you’re not bringing all of that to the table, chances are, you’re going to feel it in your bottom line.

More Homeowners Are Turning To the Pros

That’s why even more home sellers are working with agents today. Data from the National Association of Realtors (NAR) shows a record-low percentage of homeowners sold without an agent last year. And the few sellers who tried to sell on their own realized their mistake pretty quickly.

According to Zillow, 21% of homeowners ended up hiring an agent anyway after struggling to sell on their own.

So, why take the risk? With a local pro, you’ll have:

Pricing precision to attract buyers and maximize your return
Expert staging and presentation advice to highlight your home’s best features
Pro-level marketing, including the best exposure and access to buyer networks you can’t reach on your own
Skilled negotiation to evaluate offers and navigate inspections, protecting your bottom line
Local market expertise that helps your listing stand out based on what inventory looks like in your area

An agent’s expertise isn’t optional anymore. It’s essential.

Bottom Line

In a market with more listings and pickier buyers, many sellers who try to sell on their own end up working with an agent anyway. So why not start there?

Let’s connect so you have a pro who knows exactly what it takes to sell your house in today’s market, for the best possible price, without leaving money on the table.

Reach out if you want a professional assessment on what your house could sell for today.

The Truth About Down Payments (It’s Not What You Think)

August 5, 2025/in Uncategorized/by Brian Bemo

Buying a home is exciting… until you start thinking about the down payment. That’s when the worry can set in.

“I’ll never save enough.”

“I need a small fortune just to get started.”

“I guess I’ll just rent forever.”

Sound familiar? You’re not alone. And you’re definitely not out of luck.

Here’s the thing: a lot of what you’ve heard about down payments just isn’t true. And once you know the facts, you might realize you’re a lot closer to owning a home than you think.

Let’s break it all down and bust some big down payment myths while we’re at it.

Myth 1: “I need to come up with a big down payment.”

This one stops a lot of people in their tracks. A recent poll from Morning Consult and NeighborWorks shows 70% of Americans think they need to put at least 10% down to buy a home. And 11% aren’t sure what’s required at all (see graph below):

The truth? According to the National Association of Realtors (NAR), the typical down payment for first-time buyers has been between 6% and 9% since 2018. But there’s more to the story. If you qualify for an FHA loan, you may only need to put 3.5% down. And VA loans typically don’t require a down payment at all. So, there are options out there that can really make a difference for some buyers.

Myth 2: “It’ll take forever to save up for a down payment.”

Sure, saving can take time. But it may not have to be as long as you think. In many states, reaching your goal can happen faster than you might expect, especially when you know your budget and have a clear savings plan.

According to a new study, the amount of time varies depending on where you live. The map below shows, on average, how many years it takes to save up for a 10% down payment based on typical home values and income levels in each state (see map below):

But remember, in most cases you won’t even need a down payment as large as 10%. Plus, no matter how much money you end up putting down, it won’t all have to come out of your pocket. Here’s why.

Myth 3: “I have to do it all on my own.”

This is one of the biggest myths of all. The reality is, there are thousands of down payment assistance programs out there, and the same poll from Morning Consult and NeighborWorks shows 39% of people don’t even know about them. That means a lot of potential homebuyers could already be closer to homeownership – they just don’t realize it.

These assistance programs are designed to help people like you who are ready to own a home but just need a little support getting started. As Miki Adams, President at CBC Mortgage Agency, explains:

“With high interest rates and soaring home prices, down payment assistance is more essential than ever.”

Bottom Line

If you’ve been putting off buying a home because the down payment feels like too much to tackle, let’s talk. You may not need as much as you think, and there are plenty of resources out there, so you don’t have to do it alone. You just need an expert to point you in the right direction.

If a down payment wasn’t holding you back, would you be ready to start your home search?