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With More Buyers Making Moves — Is It Time To Sell?

~ bwebster

More people are taking steps to buy a home. And, if you’ve been waiting for the right time to move, this may be the sign you’ve been looking for.

For the past few years, a lot of would-be homebuyers hit pause on their plans. With rising mortgage rates and affordability challenges, buying just didn’t seem doable. But now, more of them are getting back out there. That’s because they’re getting used to the fact that this may be the new normal for the market – especially as forecasts show mortgage rates may be starting to stabilize. According to the National Association of Realtors (NAR):

“Home buyers seem to be getting over the shock of mortgage rates in the mid- to upper-6% range.”

And that’s good for you and your plans to sell. While there isn’t going to be a big rush of buyers flooding the market all at once, this does mean motivated buyers are re-starting their searches. And here’s the data to prove it.

3 Signs Buyers Are Ready To Make Their Movea screen shot of a blue and white screen

1. Mortgage Applications Are on the Rise: According to the Mortgage Bankers Association (MBA), mortgage applications are up 37% since the start of the year. That’s a big jump and a clear sign more buyers are more active lately. Don’t miss out on that. Serious buyers who are getting their finances in order are great potential buyers for your house.

2. Buyer Demand Is Picking Up: The Homebuyer Demand Index from Redfin shows demand is up 3% since late January. While that’s not a huge spike, momentum is building.

3. More Home Showings: ShowingTime data says home showings are up 13% since the beginning of the year. This added foot traffic is exactly what you want to see if you’re about to sell your house. It signals more serious interest in buying. More buyers out there looking means more potential eyes on your house. And more eyes could translate to more offers.

And chances are, this activity is only going to pick up from here. We’re headed into the busiest season of the year for housing. Spring is when more people choose to buy or sell than any other time of year. So, now is a great time to list and get in on the action.

Bottom Line

As buyers re-enter the market, you have the chance to do the same thing. And the increase in buyer activity is definitely something you’ll want to take advantage of. To make sure your house gets in front of these motivated buyers, let’s connect.

If the right buyer walked through your door tomorrow, would you be ready to sell?

Are Wall Street Investors Really Buying All the Homes?

~ bwebster

Let’s be real – buying a home right now is tough. You’re scrolling through listings, rushing to open houses, and maybe even losing out to more competitive offers. Somewhere along the way, you might’ve heard the reason it’s so hard to find a home is because big Wall Street investors are swooping in and snatching up everything in sight.

But here’s the thing: that’s mostly a myth. While investors are part of the market, according to Redfin, they’re a relatively small part:

Here’s what that means. Five out of every six homes are being purchased by everyday homebuyers like you – not big investors.

So, before you get discouraged, let’s take a look at what’s really going on. You might be surprised to learn that Wall Street isn’t the competition you may think it is.

Most Investors Are Small Mom-and-Pops

Most investors aren’t the mega corporations you’ve probably heard about. In fact, many are your neighbors. A recent report from CoreLogic shows most investors are small, mom-and-pop types who own fewer than 10 properties. They aren’t massive companies with endless resources. Picture your neighbor who has another home they’re renting out or a vacation getaway.

Only about 1% of the market is owned by large, mega investors with thousands of properties. The majority are still owned by individuals and smaller investors – not the Wall Street giants.

Investor Purchases Are Declining

Not only are most investors small, but overall investor purchases have been on the decline. As the same report from CoreLogic says:

“Investors made 80,000 purchases in June 2024, compared with 112,000 in June 2023, and a nearly 50% percent drop from the high of 149,000 purchases in June 2021 . . .”

And what does this mean going forward? CoreLogic goes on to point out this downward trend is expected to continue into 2025.

So, if it seems like competition with investors is pushing you out of the market, it might help to know that investor activity is actually slowing down.

Bottom Line

The idea that Wall Street is buying up all the homes is largely a myth. Most investors are small ones, and the share of homes purchased by investors is declining – so you can take this one off your worry list.

If you have questions about the housing market, let’s talk.

Bob Webster of Keefe Real Estate in Lake Geneva Contributes to 2017 Lake Geneva Lakefront Market Sales Report

~ bwebster
Lake Geneva Lakefrotn Sale by Bob Webster of Keefe Real Estate on the North Shore of the lake in Knollwood
One of the Top Ten Lake Geneva lakefront closings in 2017 listed by Bob Webster of Keefe Real Estate in Lake Geneva.

Bob Webster, an agent for Keefe Real Estate, represented the sellers on two top sales, both in Linn Township. A veteran of nearly 40 years in the market, Webster said sales of high-end lakefront properties are as strong as he has ever seen… “The beauty of real estate,” he said, “is that it doesn’t go down 500 points in a day.”

Read the full Lake Geneva Regional News article here

Impressive Lake Geneva Lake Front Real Estate Offering on Basswood Drive

~ bwebster

Lake Geneva lake front real estate offered by Bob Webster of Keefe Real Estate in Lake Geneva

The current home offers 6 bedroom suites each with attached baths and a two story high living room with vaulted ceilings and natural fireplace.Lake Geneva lake front real estate offered by Bob Webster of Keefe Real Estate in Lake Geneva
The location and views are fabulous with this Lake Geneva lakefront on 150’ of ideal level frontage and just over 2 acres of beautiful scenic woods.
Lake Geneva lake front real estate offered by Bob Webster of Keefe Real Estate in Lake Geneva
The kitchen and baths have all been updated from the original home offering many possibilities including using the home in its present condition, a potential remodel or taking the existing home down and building a brand-new home, as has been done with most of the neighboring properties on Basswood Drive.

Contact Bob Webster of Keefe Real Estate in Lake Geneva at 262-348-3233.

Or visit www.ClassicLakeGenevaLakeFront.com for more details.