Three Hard Truths About Real Estate Right Now

Rents, homes prices, and mortgage rates all increased last year which created a lot of barriers for home buyers.

Rising rents have made it especially difficult for buyers to save for a down payment.

As exciting as home buying may seem, remember that a house has to be something you can comfortably afford.

You don’t want to end up in your dream house with a nightmare budget.

So what can you do in the meantime?

Share housing with roommates or opt to stay with your parents if your situation allows it.

Be persistent about saving money and protecting (or improving) your credit.

These might not be your ideal steps, but you can still take consistent action to make home buying more affordable when you’re ready.

Your Palm Harbor Realtor,

Kelsi Ward⁣

The Fazzini Group | ReMax Realtec

727-488-7032⁣

Kelsi@fazzinigroup.com

What if you’re a millennial and haven’t bought a home yet?

It could be challenging, but not impossible.

Here’s why:

When our parents (boomers) were about 30 years-old, they owned 21% of the national wealth.

Millennials at that point now only own about 6.5%.

If you weren’t able to buy a house before the 40% price increase over the past few years, there might be a way to go before you’re able to get back in.

Because we’re not going to see a 40% price drop, we’re going to see more of a 4-5% drop in 2023.

It’ll definitely provide some relief, but in the meantime keep positioning yourself to be able to buy when you’re ready.

Have questions about how to buy your first home?

Let’s chat. I’d love to help.

Your Palm Harbor Realtor,

Kelsi Ward⁣

The Fazzini Group | ReMax Realtec
727-488-7032⁣
Kelsi@fazzinigroup.com

Self Sabotage

Self Sabotage…⁣⁣
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𝐈𝐝𝐞𝐧𝐭𝐢𝐟𝐲 𝐰𝐡𝐞𝐧 𝐢𝐭 𝐡𝐚𝐩𝐩𝐞𝐧𝐬 𝐭𝐡𝐞 𝐦𝐨𝐬𝐭.⁣⁣
When or where do you notice yourself wanting to self sabotage? At night? When stressed? When you’re not seeing the progress you want? Etc. Where’s your confidence in those times as compared to when you are taking amazing care of yourself?⁣⁣
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𝐒𝐞𝐭 𝐫𝐞𝐚𝐥𝐢𝐬𝐭𝐢𝐜 𝐞𝐱𝐩𝐞𝐜𝐭𝐚𝐭𝐢𝐨𝐧𝐬.⁣⁣
When you set unrealistic goals it just leads to unnecessary stress to an already challenging lifestyle change.⁣⁣
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𝐋𝐞𝐭 𝐠𝐨 𝐨𝐟 𝐭𝐡𝐞 “𝐚𝐥𝐥 𝐨𝐫 𝐧𝐨𝐭𝐡𝐢𝐧𝐠” 𝐦𝐞𝐧𝐭𝐚𝐥𝐢𝐭𝐲.⁣⁣
You can keep making progress without an “all or nothing” mentality. Try to not be so rigid and let extremes dictate your diet.⁣⁣
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𝐓𝐡𝐢𝐧𝐤 𝐩𝐫𝐚𝐜𝐭𝐢𝐜𝐚𝐥𝐥𝐲 > 𝐨𝐩𝐭𝐢𝐦𝐚𝐥𝐥𝐲.⁣⁣
Stop criticizing yourself for every little thing. There’s no need to put yourself down in the process. Do your best with what you can.⁣⁣
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𝐏𝐫𝐚𝐜𝐭𝐢𝐜𝐞 𝐬𝐞𝐥𝐟 𝐥𝐨𝐯𝐞 & 𝐬𝐞𝐥𝐟 𝐜𝐚𝐫𝐞.⁣⁣
Replace those behaviors with anything that is convenient, positive, and enjoyable. Call a friend (yes- on the phone), go for a walk, stretch, meditate, do anything that will shift you away from the negative space of self sabotage.⁣⁣
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𝐆𝐨 𝐢𝐧 𝐭𝐡𝐞 𝐨𝐩𝐩𝐨𝐬𝐢𝐭𝐞 𝐝𝐢𝐫𝐞𝐜𝐭𝐢𝐨𝐧.⁣⁣
Trust yourself that you can do this!

Ready to start your plan and make real sustainable progress towards your goals?

Contact me to snag your spot.

Coaching: Apply here!

Instagram: @littlewarriorfitness

Email: Littlewarriorfitness@gmail.com

Renting vs Buying

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There’s a lot of factors to think about when deciding to rent or buy. Consider things outside of your monthly bills like your responsibility to maintain the property, and keeping cash for unexpected expenses.⁣
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In my opinion, those trade offs are worth it for the value of appreciation over time, building equity, and personal wealth.⁣
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If rates have you worried, remember that they 𝘊𝘈𝘕 come down. If that happens, you can refinance to lower your monthly payment… but rental rates– rarely decline.⁣
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𝐒𝐨 𝐰𝐡𝐚𝐭’𝐬 𝐭𝐡𝐞 𝐩𝐨𝐢𝐧𝐭?⁣
Ownership provides price stability that renting does not. And while renting has its purpose, remember that home ownership has long term upsides compared to the short term benefits of renting.⁣
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Ultimately the decision to rent vs buy is more than just a financial one, but if you’re ready and able to purchase, don’t let rates get you down!⁣
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𝐇𝐚𝐯𝐞 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐚𝐛𝐨𝐮𝐭 𝐡𝐨𝐰 𝐭𝐨 𝐛𝐮𝐲 𝐭𝐡𝐢𝐬 𝐲𝐞𝐚𝐫?⁣
Let’s chat. I’d love to help.⁣

⁣
Your Palm Harbor Realtor,

Kelsi Ward⁣

The Fazzini Group | ReMax Realtec
727-488-7032⁣
Kelsi@fazzinigroup.com

Wrestling With Weight Gain?

I heard somewhere that people gain an average of 5 lbs over the holidays…⁣
Is that a true statement? ⁣Meh, I dunno.⁣
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But if you’re feeling a little uncomfortable, use a few of these tactics before jumping straight into a three day detox.

Write down your why and reflect on it (a lot).

Set habit goals and check in with them daily.

Organize your closet and pull out all your favorite outfits.

Buy new clothes that make you feel confident.

Refocus on the awesome things your body can do!

And lastly, do more of what truly makes you happy.

Ready to start your plan and make real sustainable progress towards your goals?

Contact me to snag your spot.

Coaching: Apply here!

Instagram: @littlewarriorfitness

Email: Littlewarriorfitness@gmail.com

Inflation? Rates?

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Here’s the thing… mortgage rates rose dramatically in 2022.⁣
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That was due to the federal reserve trying to⁣
bring inflation down.⁣
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While there are some signs that inflation may be slowing… where the market goes from here really depends on the Fed’s ability to get inflation under control.⁣
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Good news is, if inflation continues to fall like we’ve seen lately, mortgage rates likely will too. (Anyone else see those rates dipping into the 5% range??)⁣
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It’s safe to say, we all want stability and predictability right now…⁣
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I’ll keep following the latest trends to keep you updated on what’s going on.⁣
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Remember if you have questions about buying or selling a home this year you can always reach out to me!

Your Palm Harbor Realtor,⁣
⁣
Kelsi Ward⁣

The Fazzini Group | ReMax Realtec
727-488-7032⁣
Kelsi.Ward@Remax.net

Recession Proof?

Want to know what will happen to the housing market if we have another recession?

While nobody can tell you for certain when or even if a recession will take place, I can tell you history proves a recession doesn’t automatically equal a housing crisis.

When we look at the last six recessions in the U.S.  going all the way back to the 80s… home prices actually appreciated in four of those.

There were only two recessions where we saw home prices depreciate. It happened first in the early 90s when the impact was minimal.

Unfortunately, what everyone remembers is the housing crash from 2008 when homes lost nearly 20% of their value.

Since home values actually climbed in some of those recessions– history shows that a recession doesn’t always mean home prices will fall.

So if you’re looking to make a move let’s connect!

I keep a pulse on what’s happening in the market and in the Palm Harbor area so you can feel confident in your decision to buy or sell a home today.

Your Palm Harbor Realtor,⁣
⁣
Kelsi Ward⁣

The Fazzini Group | ReMax Realtec
727-488-7032⁣
Kelsi.Ward@Remax.net

How Have Home Prices Impacted The Market?

Well… Demand, inventory, and sales volume are down.

Which probably makes you think we’re on the brink of some deep price declines, huh?

Prices are coming down.

But here’s the thing… in 2008, 30% of homes were upside down. At the end of 2022, that number was less than 2%. 

So you’re likely not going to see catastrophic price declines going on.

Instead, we’re actually moving towards healthier market correction.

Want to learn more about where your current home fits into all of this?

Reach out, that’s what I’m here for.

Your Palm Harbor Realtor,⁣
⁣
Kelsi Ward⁣

The Fazzini Group | ReMax Realtec
727-488-7032⁣
Kelsi.Ward@Remax.net

Time In The Market vs Timing The Market

There’s been a slight increase of homes on the market, but buyers who got a 3% mortgage when they bought their home likely don’t want to give that up. 

Which means a lot of people who considered selling their homes, are now hanging onto them as rentals instead.

They want to hold onto the mortgage (rate) and get somebody else to pay the rent.

That means there could be a lot of inventory locked for years to come.

So, did you miss out on timing the market? Don’t count yourself out of homeownership yet. The best time to buy is when you can personally afford to do so.

Need help navigating the process?

Don’t hesitate to reach out.

Your Palm Harbor Realtor,⁣
⁣
Kelsi Ward⁣

The Fazzini Group | ReMax Realtec
727-488-7032⁣
Kelsi.Ward@Remax.net

Seller Discounts… Hot or Not?

In 2020 and 2021 we saw a lot of sellers achieving 100% or higher of their original list price.

It seems like everyone knows a neighbor who got “X” amount over asking for their house.

Some cooling has started to show up in the data, putting the market right around where it was in years past.

Sellers might not be in the drivers’ seat as much, but the market is nowhere near seeing deep discounts booming through the marketplace.

I’m excited to connect you to the life of your dreams by helping you make informed real estate decisions.

Just shoot me a message!

Your Palm Harbor Realtor,⁣
⁣
Kelsi Ward⁣

The Fazzini Group | ReMax Realtec
727-488-7032⁣
Kelsi.Ward@Remax.net