Monai Willett Realtor

Monai Willett Realtor Provide leading edge real estate solutions while empowering our clients to strategically structure t

Things To Avoid After Applying for a Home LoanHere are a few things you may not realize you need to avoid after applying...
06/22/2022

Things To Avoid After Applying for a Home Loan

Here are a few things you may not realize you need to avoid after applying for your home loan.

>>Don’t Deposit Large Sums of Cash
Lenders need to source your money, and cash isn’t easily traceable.

>>Don’t Make Any Large Purchases
It’s not just home-related purchases that could disqualify you from your loan. Any large purchases can be red flags for lenders.

>>Don’t Co-Sign Loans for Anyone
When you co-sign for a loan, you’re making yourself accountable for that loan’s success and repayment. With that obligation comes higher debt-to-income ratios as well.

>>Don’t Switch Bank Accounts
Lenders need to source and track your assets.

>>Don’t Apply for New Credit
When you have your credit report run by organizations in multiple financial channels (mortgage, credit card, auto, etc.), it will have an impact on your FICO score.

>>Don’t Close...

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Once you’ve applied for a mortgage to buy a home, there are some key things to keep in mind. While it’s exciting to start thinking about moving in and decorating, be careful when it comes to making any big purchases. Here are a few things you may not realize you need to avoid after applying for ...

The Average Homeowner Gained $64K in Equity over the Past YearIf you own a home, your net worth likely just got a big bo...
06/21/2022

The Average Homeowner Gained $64K in Equity over the Past Year

If you own a home, your net worth likely just got a big boost thanks to rising home equity. Equity is the current value of your home minus what you owe on the loan. And today, based on recent home price appreciation, you’re building that equity far faster than you may expect – here’s how it works.

Because there’s an ongoing imbalance between the number of homes available for sale and the number of buyers looking to make a purchase, home prices are on the rise. That means your home is worth more in today’s market because it’s in high demand.

Basically, because your home value has likely climbed so much, your equity has increased too. According to the latest Homeowner Equity Insights from CoreLogic, the average homeowner’s equity has grown by $64,000 over the last 12 months.

In addition to building your overall net worth, equity...

looking to buy or sell? 👉 https://bit.ly/3hjY2al

If you own a home, your net worth likely just got a big boost thanks to rising home equity. Equity is the current value of your home minus what you owe on the loan. And today, based on recent home price appreciation, you’re building that equity far faster than you may expect – here’s how it wo...

More Americans Choose Real Estate as the Best Investment Than Ever BeforeAmericans’ opinion on the value of real estate ...
06/18/2022

More Americans Choose Real Estate as the Best Investment Than Ever Before

Americans’ opinion on the value of real estate as an investment is climbing. That’s according to an annual survey from Gallup. Not only is real estate viewed as the best investment for the ninth year in a row, but more Americans selected it than ever before. If you’re thinking about purchasing a home, let this poll reassure you. Even when inflation is high like today, Americans recognize owning a home is a powerful financial decision. When you purchase your home, you lock in your monthly housing payments, effectively shielding yourself from increases on one of your biggest budgetary items each month. If you’re a renter, you don’t have that same benefit, and you aren’t protected from these increases, especially as rents rise.

Your house is also an asset that typically increases in value over time, even during inflation...

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Americans’ opinion on the value of real estate as an investment is climbing. That’s according to an annual survey from Gallup. Not only is real estate viewed as the best investment for the ninth year in a row, but more Americans selected it than ever before.

More Listings Are Coming onto the Market [INFOGRAPHIC]Worried you won’t be able to find your next home after you sell? Y...
06/17/2022

More Listings Are Coming onto the Market [INFOGRAPHIC]

Worried you won’t be able to find your next home after you sell? You should know data from realtor.com shows more listings are coming onto the market each month this year. Having additional options can make the search for your next home easier. But inventory is still low overall, which means your house should still stand out when you sell. If your biggest question is where you’ll go if you sell, take this as encouraging news. Connect with a local real estate professional to start the process today.

looking to buy or sell? 👉 https://bit.ly/3hjY2al

Some Highlights Worried you won’t be able to find your next home after you sell? You should know data from realtor.com shows more listings are coming onto the market each month this year. Having additional options can make the search for your next home easier. But inventory is still low overall, w...

Home Price Deceleration Doesn’t Mean Home Price DepreciationExperts in the real estate industry use a number of terms wh...
06/16/2022

Home Price Deceleration Doesn’t Mean Home Price Depreciation

Experts in the real estate industry use a number of terms when they talk about what's happening with home prices. And some of those words sound a bit similar but mean very different things. To help clarify what's happening with home prices and where experts say they're going, here’s a look at a few terms you may hear:
>>Appreciation is when home prices increase.
>>Depreciation is when home prices decrease.
>>Deceleration is when home prices continue to appreciate, but at a slower pace.

Experts are forecasting ongoing appreciation, just at a decelerated pace. In other words, prices will keep climbing, just not as fast as they have been. The graph below shows home price forecasts from seven industry leaders. None are calling for prices to fall.

Mark Fleming, Chief Economist at First American, identifies a key reason why home prices won’t...

looking to buy or sell? 👉 https://bit.ly/3hjY2al

Experts in the real estate industry use a number of terms when they talk about what's happening with home prices. And some of those words sound a bit similar but mean very different things. To help clarify what's happening with home prices and where experts say they're going, here’s a look at a fe...

A Majority of Consumers Say It’s a Good Time To Sell Your HouseIf you’re a homeowner thinking about selling your house, ...
06/15/2022

A Majority of Consumers Say It’s a Good Time To Sell Your House

If you’re a homeowner thinking about selling your house, you’re probably looking for the best time to make your move. That means you’re likely balancing a number of factors, like your changing needs, where you’ll go when you sell, and today’s mortgage rates in order to time it just right.

According to recent data, that sweet spot could already be here. The latest Home Purchase Sentiment Index by Fannie Mae finds 76% of consumers believe now is a good time to sell. In fact, survey respondents think it’s an even better time to sell a house today than they did in 2019, which was a strong year for the housing market. The latest survey results indicate one of the strongest peaks in seller sentiment in nearly three years.

One reason so many people think it’s a good time to sell is because there are still more buyers in today’s...

looking to buy or sell? 👉 https://bit.ly/3hjY2al

If you’re a homeowner thinking about selling your house, you’re probably looking for the best time to make your move. That means you’re likely balancing a number of factors, like your changing needs, where you’ll go when you sell, and today’s mortgage rates in order to time it just right.

Is the Housing Market Correcting?The housing market is moderating compared to the last two years, but what everyone need...
06/14/2022

Is the Housing Market Correcting?

The housing market is moderating compared to the last two years, but what everyone needs to remember is the past two years were record-breaking in nearly every way. Record-low mortgage rates and millennials reaching peak homebuying years led to an influx of buyer demand. At the same time, there weren’t enough homes available to purchase thanks to many years of underbuilding and sellers who held off on listing their homes due to the health crisis.

This combination led to record-high demand and record-low supply, and that wasn’t going to be sustainable for the long-term. The latest data shows early signs of a shift back to the market pace seen in the years leading up to the pandemic – not a crash nor a correction. As realtor.com says, “The housing market is at a turning point. . . . We’re starting to see signs of a new direction, . . .”

The ShowingTime Showing...

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If you're following the news, all of the headlines about conditions in the current housing market may leave you with more questions than answers. Is the boom over? Is the market crashing or correcting? Here’s what you need to know.

Why You Need an Expert To Determine the Right Price for Your HouseEven in this competitive market, you can’t stick just ...
06/11/2022

Why You Need an Expert To Determine the Right Price for Your House

Even in this competitive market, you can’t stick just any price tag on your home and get the deal you want. A key piece of the puzzle is setting the right asking price so you can help buyers notice your home (and get excited about it) from the very first time they view the listing. That’s where a real estate professional comes in.

The price you set for your house sends a message to potential buyers. Price it too low and you might raise questions about your home’s condition or lead buyers to assume something is wrong with the property. Not to mention, if you undervalue your house, you could leave money on the table which decreases your future buying power. On the other hand, price it too high and you run the risk of deterring buyers. When that happens, you may have to do a price drop to try to re-ignite interest in your house when it...

looking to buy or sell? 👉 https://bit.ly/3hjY2al

If your lifestyle has changed recently and you’re ready to make a move, taking advantage of today’s sellers’ market might be just the answer for your summer plans. With homes continuing to get multiple offers, this could be your moment to get the contract you’re looking for on your house if ...

The Top Reasons To Own Your Home [INFOGRAPHIC]June is National Homeownership Month, and it’s a great time to consider th...
06/10/2022

The Top Reasons To Own Your Home [INFOGRAPHIC]

June is National Homeownership Month, and it’s a great time to consider the benefits of owning your own home. If you’re considering homeownership, know that it can give you privacy, comfort, and a place to express yourself. It can also provide financial stability and help you grow your net worth. Are you ready to experience all the great benefits that come from purchasing a home? DM me to begin the process today.

looking to buy or sell? 👉 https://bit.ly/3hjY2al

Some Highlights June is National Homeownership Month, and it’s a great time to consider the benefits of owning your own home. If you’re considering homeownership, know that it can give you privacy, comfort, and a place to express yourself. It can also provide financial stability and help you gro...

Luxury Homes Are in High DemandAs people realize their needs are changing, some are turning to luxury housing to find th...
06/09/2022

Luxury Homes Are in High Demand

As people realize their needs are changing, some are turning to luxury housing to find their dream home. Investopedia helps define what pushes a home into this category. In a recent article, they point out that a luxury home isn’t only defined by its price. Location is also an important factor. It could be a condo at a desirable city address, a spacious home on the water, or one with access to luxury activities like arts and entertainment, high-end shopping and dining, and more. The home itself will also boast some of the finest features available.

According to the Luxury Market Report from the Institute for Luxury Home Marketing, there’s been a substantial increase in how many buyers are purchasing luxury homes over the past two years. It says, “. . . North America recorded the fastest growth of demand during the first year of the pandemic. Also, demand has...

looking to buy or sell? 👉 https://bit.ly/3hjY2al

As people realize their needs are changing, some are turning to luxury housing to find their dream home. Investopedia helps define what pushes a home into this category. In a recent article, they point out that a luxury home isn’t only defined by its price. Location is also an important factor. It...

What Are the Best Options for Today’s First-Time Homebuyers?If you’re looking to buy your first home, you’re likely bala...
06/08/2022

What Are the Best Options for Today’s First-Time Homebuyers?

If you’re looking to buy your first home, you’re likely balancing several factors. Because both mortgage rates and home prices have risen this year, it costs more to buy a home than it did even just a few months ago. But that doesn’t mean you have to put your plans on hold. Here are two tips to help you get started.

>>Work with a Professional To Prioritize Your Wish List
If you’re having trouble finding a home in your budget that checks all the boxes, it may be worth taking another look at your lists of what you want and what you really need. According to NerdWallet, “Your budget isn’t all that you need to be concerned about; your wish list and desired location may carry just as much weight.”

It’s all about prioritization. If you’re serious about purchasing your first home soon, be flexible in what you're looking for to open...

looking to buy or sell? 👉 https://bit.ly/3hjY2al

If you’re looking to buy your first home, you’re likely balancing several factors. Because both mortgage rates and home prices have risen this year, it costs more to buy a home than it did even just a few months ago. But that doesn’t mean you have to put your plans on hold.

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