Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Oct. 1, 2022

What Experts Say Will Happen with Home Prices Next Year

Experts are starting to make their 2023 home price forecasts. As they do, most agree homes will continue to gain value, just at a slower pace. Over the past couple of years, home prices have risen at an unsustainable rate, leaving many to wonder how long it would last. If you’re asking yourself: what’s ahead for the price of my home, know that experts are now answering this question, and its welcome news for homeowners who may have been led by the media to believe their home would lose value.

Historically, home prices have appreciated at a rate near 4%. For 2023, the average of six major forecasters noted below is 2.5%. While one, Zelman & Associates, is calling for depreciation, the other five are calling for appreciation. The graph below outlines each expert forecast to show where they project home prices are going in the coming year.

What Experts Say Will Happen with Home Prices Next Year | MyKCM

To understand why experts are calling for appreciation next year, look to the economics of supply and demand. Dave Ramsey, Financial Expert, says this:

“The root issue of what drives house prices almost always is supply and demand . . .”   

Two things are driving home prices upward. First, the under supply of homes on the market is an issue we continue to face in this country. We still don’t have enough homes on the market for the number of people that want to buy them. To further that point, we’re still in a sellers’ market nationally, and in that scenario, home prices tend to appreciate.

Second, millennials are moving through their peak home buying years. Since they’re the largest demographic behind the baby boomers, demand isn’t going away any time soon.

Bottom Line

Experts are calling for home prices to appreciate next year, although at a slower pace than the previous three years. The reason for this is simple. The dynamics of supply and demand are playing out in real estate and will continue for many years to come.

 

Tom Johnson is an experienced and award-winning Realtor with Your Castle Real Estate serving the Great Denver/Aurora Metro Area and Buckley Space Force Base. 

As a Residential Specialist and VA Loan Expert he is happy to assist you in purchasing a new home, selling your current home, or simply answering your real estate questions.   

Tom Johnson, Realtor – MBA, CRS, MRP

Call or text to (303) 856-6185 or email: tomjohnson@yourcastle.org

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The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Tom Johnson and Ron House do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The Tom and Ron Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

 

 

 

 

Sept. 30, 2022

Fall Home Selling Checklist [INFOGRAPHIC]

Some Highlights

  • When it comes to selling your house, you want it to look its best inside and out so it catches the attention of buyers. A real estate professional can help you decide what to do to make that happen.
  • Focus on tasks that can make it inviting, show it’s cared for, and boost your curb appeal.
  • Let’s connect so you have advice on what you may want to do to get your house ready to sell this season.

 

 

Tom Johnson is an experienced and award-winning Realtor with Your Castle Real Estate serving the Great Denver/Aurora Metro Area and Buckley Space Force Base. 

As a Residential Specialist and VA Loan Expert he is happy to assist you in purchasing a new home, selling your current home, or simply answering your real estate questions.   

Tom Johnson, Realtor – MBA, CRS, MRP

Call or text to (303) 856-6185 or email: tomjohnson@yourcastle.org

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Posted in Home Sellers
Sept. 28, 2022

The True Strength of Homeowners Today

The real estate market is on just about everyone’s mind these days. That’s because the unsustainable market of the past two years is behind us, and the difference is being felt. The question now is, just how financially strong are homeowners throughout the country? Mortgage debt grew beyond 10 trillion dollars over the past year, and many called that a troubling sign when it happened for the first time in history.

Recently Odeta Kushi, Deputy Chief Economist at First American, answered that question when she said:

“U.S. households own $41 trillion in owner-occupied real estate, just over $12 trillion in debt, and the remaining ~$29 trillion in equity. The national “LTV” in Q2 2022 was 29.5%, the lowest since 1983.”

She continued on to say:

“Homeowners had an average of $320,000 in inflation-adjusted equity in their homes in Q2 2022, an all-time high.”

What Is LTV?

The term LTV refers to loan to value ratio. For more context, here’s how the Mortgage Reports defines it:

“Your ‘loan to value ratio’ (LTV) compares the size of your mortgage loan to the value of the home. For example: If your home is worth $200,000, and you have a mortgage for $180,000, your LTV ratio is 90% — because the loan makes up 90% of the total price.

You can also think about LTV in terms of your down payment. If you put 20% down, that means you’re borrowing 80% of the home’s value. So your LTV ratio is 80%.”

Why Is This Important?

This is yet another reason we won’t see the housing market crash. Home equity allows homeowners to be in control. For example, if someone did need to sell their home, they likely have the equity they need to be able to sell it and still put money in their pocket. This was not the case back in 2008, when many owed more on their homes than they were worth.

Bottom Line

Homeowners today have more financial strength than they have had since 1983. This is a combination of how homeowners have handled equity since the crash and rising home prices of the last two years. And this is yet another reason homeownership in any market makes sense.

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

Tom Johnson is an experienced and award-winning Realtor with Your Castle Real Estate serving the Great Denver/Aurora Metro Area and Buckley Space Force Base. 

As a Residential Specialist and VA Loan Expert he is happy to assist you in purchasing a new home, selling your current home, or simply answering your real estate questions.   

Tom Johnson, Realtor – MBA, CRS, MRP

Call or text to (303) 856-6185 or email: tomjohnson@yourcastle.org

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March 8, 2022

What Every Seller Needs To Know About Renovating This Year

If you’re planning to sell this year, you’re probably thinking about what you’ll need to do to get your house ready to appeal to the most buyers. It’s crucial to work with a trusted real estate professional who knows your local market to get your home ready to sell. But there are a few things you should consider when deciding what to renovate and update before listing this season. Here are three things to keep top of mind as you’re making your list of projects to tackle this year.

1. The Number of Homes for Sale Is Very Low

Housing inventory sits far below what is normally considered a balanced market. In fact, according to the National Association of Realtors (NAR), the latest data indicates inventory is hitting an all-time low. Because there’s such a limited supply of homes available for sale, you’re in a unique position when you sell your house to benefit from multiple offers and a quick process.

But you want to do so while buyers are still scooping homes up as fast as they’re being listed. Spending time and money on renovations before you sell could mean you’ll miss your key window of opportunity. Of course, certain repairs may be important or even necessary. The best way to determine where to spend your time – and your money – is to work with a real estate advisor to confirm which improvements are truly needed and which ones aren’t likely to be deal-breakers for buyers.

2. Buyers May Be Willing To Take on Projects When They Purchase Your House

Today, many buyers are more willing to take on home improvement projects themselves to get the house they’re after, even if it means putting in a little extra work. A recent survey from Freddie Mac finds that:

“. . . nearly two-in-five potential homebuyers would consider purchasing a home requiring renovations.

If more buyers are willing to tackle repairs on their own, it may be wise to let the future homeowners remodel the bathroom or the kitchen to make design decisions that are best for their specific taste and lifestyle. Depending on the structural condition of your house, your efforts may be better spent working on small cosmetic updates, like refreshing some paint and power washing the exterior to make sure the home stands out. Instead of over-investing in upgrades, the buyer may change anyway, work with a real estate professional to determine the key projects to tackle that will give you the greatest return on your investment.

3. Your Agent Will Help You Spotlight the Upgrades You’ve Made

Over the past year, many people made a significant number of updates to their homes. The most recent State of Home Spending report finds:

“Home improvement spending rose 25% year-over-year to $10,341. Homeowners who invested in home improvement did an average of 3.7 projects, up from 2.7 in 2020, . . .”

With more homeowners taking on more projects in the past 12 months, there’s a good chance you’ve already made updates to your home that could appeal to buyers. If that’s the case, your real estate advisor will find ways to highlight those upgrades in your listing.

The same is true for any projects you invest in moving forward. No matter what, before you renovate, contact a local real estate professional for expert advice on what work needs to be done and how to make it as appealing as possible to future buyers. Every home is different, so a conversation with your agent is mission-critical to make sure you make the right moves when selling this season.

Bottom Line

In a sellers’ market like today’s, it’s important to spend your time and money wisely when you’re getting ready to move. Let’s connect today so you can find out where to target your efforts before you list.

 

 

Tom Johnson is an experienced and award-winning Realtor with Your Castle Real Estate serving the Great Denver/Aurora Metro Area and Buckley Space Force Base. 

As a Residential Specialist and VA Loan Expert he is happy to assist you in purchasing a new home, selling your current home, or simply answering your real estate questions. 

Tom Johnson, Realtor – MBA, CRS, MRP

Call or text to (303) 856-6185 or email: tomjohnson@yourcastle.org

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The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Tom Johnson and Ron House do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The Tom and Ron Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

 

 

 

 

 

March 3, 2022

4 Simple Graphs Showing Why This Is Not a Housing Bubble

 

A recent survey revealed that many consumers believe there’s a housing bubble beginning to form. That feeling is understandable, as year-over-year home price appreciation is still in the double digits. However, this market is very different than it was during the housing crash 15 years ago. Here are four key reasons why today is nothing like the last time.

1. Houses Are Not Unaffordable Like They Were During the Housing Boom

The affordability formula has three components: the price of the home, wages earned by the purchaser, and the mortgage rate available at the time. Conventional lending standards say a purchaser should not spend more than 28% of their gross income on their mortgage payment.

Fifteen years ago, prices were high, wages were low, and mortgage rates were over 6%. Today, prices are still high. Wages, however, have increased, and the mortgage rate, even after the recent spike, is still well below 6%. That means the average purchaser today pays less of their monthly income toward their mortgage payment than they did back then.

In the latest Affordability Report by ATTOM Data, Chief Product Officer Todd Teta addresses that exact point:

“The average wage earner can still afford the typical home across the U.S., but the financial comfort zone continues shrinking as home prices keep soaring and mortgage rates tick upward.”

Affordability isn’t as strong as it was last year, but it’s much better than it was during the boom. Here’s a chart showing that difference:

4 Simple Graphs Showing Why This Is Not a Housing Bubble | MyKCM

If costs were so prohibitive, how did so many homes sell during the housing boom?

2. Mortgage Standards Were Much More Relaxed During the Boom

During the housing bubble, it was much easier to get a mortgage than it is today. As an example, let’s review the number of mortgages granted to purchasers with credit scores under 620. According to credit.org, a credit score between 550-619 is considered poor. In defining those with a score below 620, they explain:

“Credit agencies consider consumers with credit delinquencies, account rejections, and little credit history as subprime borrowers due to their high credit risk.”

Buyers can still qualify for a mortgage with a credit score that low, but they’re considered riskier borrowers. Here’s a graph showing the mortgage volume issued to purchasers with a credit score less than 620 during the housing boom, and the subsequent volume in the 14 years since.

4 Simple Graphs Showing Why This Is Not a Housing Bubble | MyKCM

Mortgage standards are nothing like they were the last time. Purchasers that acquired a mortgage over the last decade are much more qualified. Let’s take a look at what that means going forward.

3. The Foreclosure Situation Is Nothing Like It Was During the Crash

The most obvious difference is the number of homeowners that were facing foreclosure after the housing bubble burst. The Federal Reserve issues a report showing the number of consumers with a new foreclosure notice. Here are the numbers during the crash compared to today:

4 Simple Graphs Showing Why This Is Not a Housing Bubble | MyKCM

There’s no doubt the 2020 and 2021 numbers are impacted by the forbearance program, which was created to help homeowners facing uncertainty during the pandemic. However, there are fewer than 800,000 homeowners left in the program today, and most of those will be able to work out a repayment plan with their banks.

Rick Sharga, Executive Vice President of RealtyTrac, explains:

“The fact that foreclosure starts declined despite hundreds of thousands of borrowers exiting the CARES Act mortgage forbearance program over the last few months is very encouraging. It suggests that the ‘forbearance equals foreclosure’ narrative was incorrect.”

Why are there so few foreclosures now? Today, homeowners are equity rich, not tapped out.

In the run-up to the housing bubble, some homeowners were using their homes as personal ATM machines. Many immediately withdrew their equity once it built up. When home values began to fall, some homeowners found themselves in a negative equity situation where the amount they owed on their mortgage was greater than the value of their home. Some of those households decided to walk away from their homes, and that led to a rash of distressed property listings (foreclosures and short sales), which sold at huge discounts, thus lowering the value of other homes in the area.

Homeowners, however, have learned their lessons. Prices have risen nicely over the last few years, leading to over 40% of homes in the country having more than 50% equity. But owners have not been tapping into it like the last time, as evidenced by the fact that national tappable equity has increased to a record $9.9 trillion. With the average home equity now standing at $300,000, what happened last time won’t happen today.

As the latest Homeowner Equity Insights report from CoreLogic explains:

“Not only have equity gains helped homeowners more seamlessly transition out of forbearance and avoid a distressed sale, but they’ve also enabled many to continue building their wealth.”

There will be nowhere near the same number of foreclosures as we saw during the crash. So, what does that mean for the housing market?

4. We Don’t Have a Surplus of Homes on the Market – We Have a Shortage

The supply of inventory needed to sustain a normal real estate market is approximately six months. Anything more than that is an overabundance and will causes prices to depreciate. Anything less than that is a shortage and will lead to continued price appreciation. As the next graph shows, there were too many homes for sale from 2007 to 2010 (many of which were short sales and foreclosures), and that caused prices to tumble. Today, there’s a shortage of inventory, which is causing the acceleration in home values to continue.

4 Simple Graphs Showing Why This Is Not a Housing Bubble | MyKCM

Inventory is nothing like the last time. Prices are rising because there’s a healthy demand for homeownership at the same time there’s a shortage of homes for sale.

Bottom Line

If you’re worried that we’re making the same mistakes that led to the housing crash, the graphs above show data and insights to help alleviate your concerns.

 

Tom Johnson is an experienced and award-winning Realtor with Your Castle Real Estate serving the Great Denver/Aurora Metro Area and Buckley Space Force Base. 

As a Residential Specialist and VA Loan Expert he is happy to assist you in purchasing a new home, selling your current home, or simply answering your real estate questions. 

Tom Johnson, Realtor – MBA, CRS, MRP

Call or text to (303) 856-6185 or email: tomjohnson@yourcastle.org

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The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Tom Johnson and Ron House do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The Tom and Ron Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

 

Feb. 28, 2022

Don’t Let Student Loans Delay Your Homeownership Dreams

If you’re looking to buy a home, you may be wondering how your student loan debt could impact those plans. Do you have to wait until you’ve paid off your student loans before you can buy your first home? Or could you qualify for a home loan with that debt?

To give you the answers you’re searching for, let’s take a look at what recent data shows. That way, you know what to expect and what to do next to achieve your dream of becoming a homeowner. While everyone’s situation is unique, your goal may be more within your reach than you realize.

Do you have to delay your plans because of student loans?

If you’re worried your student loans mean you have to put your homeownership goals on hold, you’re not alone. In fact, many first-time buyers believe they have to delay their plans. According to data from the National Association of Realtors (NAR):

When asked specifically about purchasing a home, half of nonhomeowners say student loan debt is delaying them from purchasing a home (51%).”

When asked why their student loans are putting their plans on the back burner, three key themes emerged:

  • 47% say their student loans make it harder to save for a down payment
  • 45% say they think they can’t qualify for a home loan because of existing debt
  • 43% say they believe the delay is necessary even though they’ve never applied for a mortgage

No matter which reason resonates most with you, you should know a delay may not be necessary. Here’s why.

Can you qualify for a home loan if you have student loans?

In the same NAR report, data shows many current homeowners have student loan debt themselves:

“Nearly one-quarter of all home buyers, and 37% of first-time buyers, had student debt, with a typical amount of $30,000.”

That means other people in a similar situation were able to qualify for and buy a home even though they also had student loan debt. You may be able to do the same, especially if you have a steady source of income. Apartment Therapy drives this point home:

“. . . buying a home with student loans is possible, experts say. The proof is in the numbers, too: Some 40 percent of first-time homebuyers have student loan debt, according to the NAR study.”

The key takeaway is, for many people, homeownership is achievable even with student loans. 

The best way to make a decision about your goals and next steps is to talk to the professionals. A real estate advisor can walk you through your specific situation, your options, and what has worked for other buyers like you. They can also connect you with other professionals in the industry who can help. You don’t have to figure this out on your own – lean on the experts so you have the information you need to make an informed, confident decision.

Bottom Line

Many other buyers with student loan debt are already achieving their homeownership dreams. Maybe it’s time to take the next step toward making yours a reality. Let’s connect to discuss your options and find out how close you are to achieving your goal.

Tom Johnson is an experienced and award-winning Realtor with Your Castle Real Estate serving the Great Denver/Aurora Metro Area and Buckley Space Force Base. 

As a Residential Specialist and VA Loan Expert he is happy to assist you in purchasing a new home, selling your current home, or simply answering your real estate questions.   

Tom Johnson, Realtor – MBA, CRS, MRP

Call or text to (303) 856-6185 or email: tomjohnson@yourcastle.org

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The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Tom Johnson and Ron House do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The Tom and Ron Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

 

 

 

 

Feb. 23, 2022

What’s Driving Today’s High Buyer Demand? [INFOGRAPHIC]

Some Highlights

  • There’s an influx of buyers looking for homes today, and that means your house is in high demand. Here are a few reasons why so many people are looking to buy a home.
  • Buyers are motivated to beat rising mortgage rates, and many want to escape rising rents. There’s also additional demand from millennials who are reaching peak homebuying age.
  • If you’re thinking about selling your house, today’s demand is great news. Let’s connect to begin the process of listing your house while buyers are ready to purchase.

 

 

Tom Johnson is an experienced and award-winning Realtor with Your Castle Real Estate serving the Great Denver/Aurora Metro Area and Buckley Space Force Base. 

As a Residential Specialist and VA Loan Expert he is happy to assist you in purchasing a new home, selling your current home, or simply answering your real estate questions. 

Tom Johnson, Realtor – MBA, CRS, MRP

Call or text to (303) 856-6185 or email: tomjohnson@yourcastle.org

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The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Tom Johnson and Ron House do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The Tom and Ron Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

 

 

 

Feb. 20, 2022

The Top Indicator if You Want To Know Where Mortgage Rates Are Heading

Mortgage rates have increased significantly since the beginning of the year. Each Thursday, Freddie Mac releases its Primary Mortgage Market Survey. According to the latest survey, the average 30-year fixed-rate mortgage has risen from 3.22% at the start of the year to 3.55% as of last week. This is important to note because any increase in mortgage rates changes what a purchaser can afford. To give you an idea of how rising mortgage rates impact your purchasing power, see the table below:

The Top Indicator if You Want To Know Where Mortgage Rates Are Heading | MyKCM

How Can You Know Where Mortgage Rates Are Headed?

While it’s always difficult to know exactly where mortgage rates will go, a great indicator of where they may head is by looking at the 50-year history of the 10-year treasury yield, and then following its path. Understanding the mechanics of the treasury yield isn’t as important as knowing that there’s a correlation between how it moves and how mortgage rates follow. Here’s a graph showing that relationship over the last 50 years:

The Top Indicator if You Want To Know Where Mortgage Rates Are Heading | MyKCM

This correlation has continued into the new year. The treasury yield has started to climb, and that’s driven rates up. As of last Thursday, the treasury yield was 1.81%. That’s 1.74% below the mortgage rate reported the same day (3.55%) and is very close to the average spread we see between the two numbers (average spread is 1.7).

Where Will the Treasury Yield Head in the Future?

With this information in mind, a 10-year treasury-yield forecast would be a good indicator of where mortgage rates may be headed. The Wall Street Journal just surveyed a panel of over 75 academic, business, and financial economists asking them to forecast the treasury yield over the next few years. The consensus was that experts project the treasury yield will climb to 2.84% by the end of 2024. Based on the 50-year history of following this yield, that would likely put mortgage rates at about 4.5% in three years.

While the correlation between the 30-year fixed mortgage rate and the 10-year treasury yield is clear in the data shown above for the past 50 years, it shouldn’t be used as an exact indicator. They’re both hard to forecast, especially in this unprecedented economic time driven by a global pandemic. Yet understanding the relationship can help you get an idea of where rates may be going. It appears, based on the information we have now, that mortgage rates will continue to rise over the next few years. If that’s the case, your best bet may be to purchase a home sooner rather than later, if you’re able.

Bottom Line

Forecasting mortgage rates is very difficult. As Mark Fleming, Chief Economist at First American, once said:

“You know, the fallacy of economic forecasting is don’t ever try and forecast interest rates and or, more specifically, if you’re a real estate economist mortgage rates, because you will always invariably be wrong.”

However, if you’re either a first-time homebuyer or a current homeowner thinking of moving into a home that better fits your changing needs, understanding what’s happening with the 10-year treasury yield and mortgage rates can help you make an informed decision on the timing of your purchase.

 

Tom Johnson is an experienced and award-winning Realtor with Your Castle Real Estate serving the Great Denver/Aurora Metro Area and Buckley Space Force Base. 

As a Residential Specialist and VA Loan Expert he is happy to assist you in purchasing a new home, selling your current home, or simply answering your real estate questions.   

Tom Johnson, Realtor – MBA, CRS, MRP

Call or text to (303) 856-6185 or email: tomjohnson@yourcastle.org

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The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Tom Johnson and Ron House do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The Tom and Ron Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

 

 

 

Feb. 18, 2022

How Remote Work Impacts Your Home Search [INFOGRAPHIC]

Some Highlights

  • If your workplace is delaying its return to office plans or is allowing permanent work from home options, that may open up new possibilities for your home search.
  • Ongoing remote work could give you the chance for a change in scenery, a move to an area with a lower cost of living, or finding a home with more home office space.
  • If you want to learn more about how remote work can give you more options, let’s connect to discuss your situation and priorities for your home search.

 

Tom Johnson is an experienced and award-winning Realtor with Your Castle Real Estate serving the Great Denver/Aurora Metro Area and Buckley Space Force Base. 

As a Residential Specialist and VA Loan Expert he is happy to assist you in purchasing a new home, selling your current home, or simply answering your real estate questions.   

Tom Johnson, Realtor – MBA, CRS, MRP

Call or text to (303) 856-6185 or email: tomjohnson@yourcastle.org

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The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Tom Johnson and Ron House do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The Tom and Ron Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

 

 

Feb. 9, 2022

Why a Move Could Bring You More Happiness This Year

Over the past two years, we’ve lived through one of the most stressful periods in recent history. Because of the health crisis, many of us have spent more time at home and that’s led us to re-evaluate both what we need in a house and how much we appreciate having a safe space. If you’ve found your current home isn’t filling all your needs, you may be wondering if it’s time to find a new one.

There’s reason to believe a change of scenery could boost your happiness. Catherine Hartley, an Assistant Professor at New York University’s Department of Psychology and co-author of a study on how new experiences impact happiness, says:

Our results suggest that people feel happier when they have more variety in their daily routines—when they go to novel places and have a wider array of experiences.”

A move could be exactly the new experience you’ve been looking for. If that’s something you’re considering to better your lifestyle, here are a few things to keep in mind.

Approach Your Decision Thoughtfully and Explore Your Options

Buying and selling a home is a major life change, and it’s not a decision you should enter lightly. But, if you’re questioning whether or not a move would bring you more happiness, it’s important to explore if it’s the right choice for you.

To find out more and discuss your options, reach out to a local real estate professional. They’ll explain the process – including how to list your existing house and search for a new one – in clear and simple terms.

You should also think about your lifestyle and what you’re hoping to get out of your move. What needs aren’t being met in your current home? What features would bring you more joy and make your life easier? For example, are you now working remotely and need a home office? Do you crave more fresh air and open outdoor space to unwind in? Knowing the answers to these questions can help you get started and position your real estate advisor to work with you so you can find just the right home.

Consider a Location with Weather That Will Boost Your Mood

Home features aren’t the only thing to consider. You should also weigh your options when it comes to location. Is the weather something that’s important to you? Does it have a tendency to impact your mood? If it does, you may want to factor it into your next move. The World Population Review shares:

“What states have the best weather? When evaluating each state for temperature, rain, and sun, some states stand out. . . . Climate and weather preferences are personal and subjective. . . . “

Better weather can mean different things to different people. Some prefer the heat, others cooler temperatures, and some want to experience all four seasons. Think about what makes you feel happiest and prioritize that in your home search. If you’re moving to a whole new location, your agent is a great resource with a strong network to support you along the way.

Bottom Line

Moving could provide you with a fresh beginning and the chance to find happiness in your new home. Let’s connect today to talk about your goals and options in the current market.

 

Tom Johnson is an experienced and award-winning Realtor with Your Castle Real Estate serving the Great Denver/Aurora Metro Area and Buckley Space Force Base. 

As a Residential Specialist and VA Loan Expert he is happy to assist you in purchasing a new home, selling your current home, or simply answering your real estate questions.   

Tom Johnson, Realtor – MBA, CRS, MRP

Call or text to (303) 856-6185 or email: tomjohnson@yourcastle.org

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The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Tom Johnson and Ron House do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The Tom and Ron Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

 

 

 

 

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