Sarwor Khan

Tips for Today's Sellers Even in today's ultimate sellers' market, it's key to have an expert guide when you sell your house. Let's connect to optimize your home sale this summer.

Pre-Approval Makes All the Difference When Buying a Home You may have been told that it’s important to get pre-approved at the beginning of the homebuying process, but what does that really mean, and why is it so important? Especially in today’s market, with rising home prices and high buyer competition, it’s crucial to have a clear understanding of your budget so you stand out to sellers as a serious homebuyer. Being intentional and competitive are musts when buying a home r...ight now. Pre-approval from a lender is the only way to know your true price range and how much money you can borrow for your loan. Just as important, being able to present a pre-approval letter shows sellers you’re a qualified buyer, something that can really help you land your dream home in an ultra-competitive market. With limited housing inventory, there are many more buyers active in the market than there are sellers, and that’s creating some serious competition...

Owning a Home Has Distinct Financial Benefits Over Renting [INFOGRAPHIC] When you rent, you build your landlord’s wealth, your monthly payment depends on ever-rising rents, and you don’t benefit from home price appreciation. On the other hand, when you own your home, you build your own wealth, your monthly payment is locked in, and you benefit directly from home price appreciation. If you’re feeling the challenges of a competitive market, remember that homeownership is a long-term game. Persevering today will lead to financial rewards in the future.

Top Reasons to Own Your Home This National Homeownership Month, take time to appreciate everything owning your home has to offer. Let's connect if you're ready to become a homeowner this year.

Don’t Wait To Sell Your House Whatever the move you want to make looks like, here’s an overview of what’s creating the prime opportunity to sell this summer. High Buyer Demand... Demand is strong, and buyers are actively searching for homes to purchase. In the Realtors Confidence Index Survey published monthly by the National Association of Realtors (NAR), buyer traffic is considered very strong in almost every state. Homebuyers aren’t just great in number right now they’re also determined to find their dream home. NAR shows the average home for sale today receives five offers from hopeful buyers. These increasingly frequent bidding wars can drive up the price of your house, which is why high demand from competitive homebuyers is such a win for this summer’s sellers. Low Inventory of Houses for Sale Purchaser demand is so high, the market is running out of available homes for sale. Danielle Hale, Chief Economist at realtor.com...

Hope Is on the Horizon for Today’s Housing Shortage While we are seeing some improvement, we’re still at near-record lows for housing inventory (as shown in the graph below). Here’s why. Since the pandemic began, sellers have been cautious when it comes to putting their homes on the market. At the same time that fewer people are listing their homes, more and more people are trying to buy them thanks to today’s low mortgage rates. The influx of buyers aiming to capitalize on t...hose rates are purchasing this limited supply of homes as quickly as they’re coming to market. Despite today’s low inventory, there is hope on the horizon. Regarding existing home sales, Sabrina Speianu, Senior Economic Research Analyst at realtor.com, explains, In May, newly listed homes grew by 5.4% on a year-over-year basis compared to the earlier days of the COVID-19 pandemic last yearfor buyers, it means that while they can expect fresh new listings every week...

The Right Expert Will Guide You Through This Unprecedented Market In a normal market, it’s good to have an experienced guide to coach you through the process of buying or selling a home. That person can advise you on important things like pricing your home correctly or the first steps to take when you’re ready to buy. However, the market we’re in today is far from normal. As a result, an expert isn’t just good to have by your side an expert is essential. Finding the right a...gent should be your top priority when you’re ready to buy or sell a home. So, how do you choose the right expert? It starts with trust. You’ll have to be able to trust the advice your agent is going to give you, so make sure you’re connected to a true professional. An agent can’t give you perfect advice because it’s impossible to know exactly what’s going to happen at every turn especially in this unique market. A true professional expert can, however, give you... See more

Have Your Day in the Sun by Moving Up This Summer [INFOGRAPHIC] Longer days and sunny weather mean summer is upon us, and what better conditions than right now to upgrade to the home of your dreams? If your needs have changed, it’s a great time to upgrade there’s likely high demand for your current house, and today’s low mortgage rates can help you afford your dream home. If you’re ready to upgrade to a home that matches your changing needs, DM me today.

Thinking of Buying or Selling a Home This Year? The latest editions of the home buying and selling guides are now available. Let's connect so you can get the latest digital copies.

Home Price Appreciation Is as Simple as Supply and Demand Home price appreciation continues to accelerate. Today, prices are driven by the simple concept of supply and demand. Pricing of any item is determined by how many items are available compared to how many people want to buy that item. As a result, the strong year-over-year home price appreciation is simple to explain. The demand for housing is up while the supply of homes for sale hovers at historic lows. The reason pr...ices continue to accelerate is that housing inventory is still at all-time lows while demand remains high. However, this may be changing. 39 of the 50 states (plus the District of Columbia) saw increases in inventory over the last month. This may be evidence that homeowners who have been afraid to let buyers in their homes during the pandemic are now putting their houses on the market. We’ll know for certain as we move through the rest of the year. Some are concerned by the rapid...

In Today’s Market, Listing Prices Are Like an Auction’s Reserve Price For generations, the process of buying and selling a home never really changed. A homeowner would try to estimate the market value of their house, then tack on a little extra to give themselves some negotiating room. That figure would become the listing price. Buyers would then try to determine how much less than the full price they could offer and still get the home. As a result, the listing price was gene...rally the ceiling of the negotiation. The actual sales price would almost always be somewhat lower than what was listed. It was unthinkable to pay more than what the seller was asking. Today is different. The record-low supply of homes for sale coupled with very strong buyer demand is leading to a rise in bidding wars on many homes. Because of this, homes today often sell for more than the list price. In some cases, they sell for a lot more. According to Lawrence Yun, Chief...

What Happens When Homeowners Leave Their Forbearance Plans? According to the latest report from Black Knight, Inc., a well-respected provider of data and analytics for mortgage companies, 6.48 million households have entered a forbearance plan as a result of financial concerns brought on by the COVID-19 pandemic. Here’s where these homeowners stand right now: 2,543,000 (39%) are current on their payments and have left the program... 625,000 (9%) have paid off their mortgages 434,000 (7%) have negotiated a repayment plan and have left the program 2,254,000 (35%) have extended their original forbearance plan 512,000 (8%) are still in their original... See more

What’s the Difference between an Appraisal and a Home Inspection? If you’re planning to buy a home, an appraisal is an important step in the process. It’s a professional evaluation of the market value of the home you’d like to buy. In most cases, an appraisal is ordered by the lender to confirm or verify the value of the home prior to lending a buyer money for the purchase. It’s also a different step in the process from a home inspection, which assesses the condition of the home before you finalize the transaction. Here’s the breakdown of each one and why they’re both important when buying a home. Home Appraisal The National Association of Realtors...

Why Moving May Be Just the Boost You Need As we look back over the past year, we’ve certainly lived through one of the most stressful periods in recent history. After spending so much more time at home throughout the health crisis, some are wondering if they should move to improve their mental health and well-being. This is no surprise since the U.S. Census Bureau reported an increase in the percentage of adults with symptoms of anxiety and depression in a recent Household Pulse Survey. There’s logic behind the idea that making a move could improve someone’s quality of life. When people change their scenery, they often feel happier. Catherine Hartley, an...

Owning a Home Is Still More Affordable Than Renting One If spending more time at home over the past year is making you really think hard about buying a home instead of renting one, you’re not alone. You may be wondering, however, if the dollars and cents add up in your favor as home prices continue to rise. According to the experts, in many cases, it’s still more affordable to buy a home than rent one. Here’s why. ATTOM Data Solutions recently released the 2021 Rental Afforda...bility Report, which states: Owning a median-priced three-bedroom home is more affordable than renting a three-bedroom property in 572, or 63 percent of the 915 U.S. counties... See more

3 Reality TV Myths Busted Ready to buy a home this year? Let's connect to separate reality from reality TV and make sure your experience is smooth and successful.

Should I Wait for Lower Mortgage Interest Rates? Historically low mortgage rates are a big motivator for homebuyers right now. In 2020 alone, rates hit new record-lows 16 times, and the trend continued into the early part of this year. Many hopeful homebuyers are now wondering if they should put their plans on hold and wait for the lowest rates imaginable. However, the reality is, acting sooner rather than later may be the actual win if you’re ready to buy a home. According t...o Greg McBride, Chief Financial Analyst for Bankrate: As vaccines become more widely available and a return to normal starts to come into view, we’ll see mortgage rates bounce off... See more

How to Make the Dream of Homeownership a Reality This Year In 1963, Martin Luther King, Jr. inspired a powerful movement with his famous I Have a Dream speech. Through his passion and determination, he sparked interest, ambition, and courage in his audience. Today, reflecting on his message encourages many of us to think about our own dreams, goals, beliefs, and aspirations. For many Americans, one of those common goals is owning a home: a piece of land, a roof over our heads, and a place where we can grow and flourish. If you’re dreaming of buying a home this year, start by connecting with a local real estate professional to understand what goes into...

What Experts Are Saying about the 2021 Job Market Earlier this month, the Bureau of Labor Statistics (BLS) released their most recent Jobs Report. The report revealed that the economy lost 140,000 jobs in December. That’s a devastating number and dramatically impacts those households that lost a source of income. However, we need to give it some context. Greg Ip, Chief Economics Commentator at the Wall Street Journal (WSJ), explains: The economy is probably not slipping back into recession. The drop was induced by new restrictions on activity as the pandemic raged out of control. Leisure and hospitality, which includes restaurants, hotels, and amusement...