Unlocking Your Home-Buying Potential with Your Tax Refund

Are you saving up to make your dream of owning a home a reality this year? If so, you're likely aware of the various expenses involved, from the down payment to closing costs. The good news is that your tax refund can be a valuable resource to help you achieve your homebuying goals by covering some of these costs.   According to SmartAsset, the average American is estimated to receive a tax refund of $1,798 this year. The map below provides a state-by-state breakdown of estimated refunds:   Freddie Mac suggests several ways in which your tax refund can benefit you as a homebuyer. If you're expecting a refund and considering buying a home, here are some tips to keep in mind: Saving for a down payment: Saving for a down payment is often a significant hurdle to homeownership. Your tax refund can be a significant boost to your savings, helping you reach your down payment goal faster than anticipated. Paying for closing costs: Closing costs, which include fees charged by lenders, real estate agents, and other parties involved in the homebuying process, can add up quickly. Your tax refund can be used to offset these costs and make the homebuying process more affordable. Lowering your interest rate: Some lenders may offer you the option to buy down your mortgage interest rate, which means paying upfront to secure a lower rate on your fixed-rate mortgage. Your tax refund can be utilized for this purpose, potentially resulting in long-term savings on your mortgage payments. Partnering with a trusted real estate professional who understands the homebuying process is crucial in preparing to buy a home. They can provide guidance on the costs associated with homebuying and help you make informed decisions. Make the most of your tax refund to achieve your homeownership goals. Connect with a local real estate agent to discuss how you can kickstart your homebuying journey today.

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Why Don't Home Prices Drop?

There have been a lot of shifts in the housing market recently. Mortgage rates rose dramatically last year, impacting many people’s ability to buy a home. And after several years of rapid price appreciation, home prices finally peaked last summer. These changes led to a rise in headlines saying prices would end up crashing.   Even though we’re no longer seeing the buyer frenzy that drove home values up during the pandemic, prices have been relatively flat at the national level. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), doesn’t expect that to change:   “[H]ome prices will be steady in most parts of the country with a minor change in the national median home price.”   You might think sellers would have to lower prices to attract buyers in today’s market, and that’s part of why some may have been waiting for prices to come crashing down. But there’s another factor at play – low inventory. And according to Yun, that’s limiting just how low prices will go:   “We simply don’t have enough inventory. Will some markets see a price decline? Yes. [But] with the supply not being there, the repeat of a 30 percent price decline is highly, highly unlikely.”   As you can see in the graph below, we’ve been at or near record-low inventory levels for a few years now. That lack of available homes on the market is putting upward pressure on prices. Bankrate puts it like this:   “This ongoing lack of inventory explains why many buyers still have little choice but to bid up prices. And it also indicates that the supply-and-demand equation simply won’t allow a price crash in the near future.”   If more homes don’t come to the market, a lack of supply will keep prices from crashing, and, according to industry expert Rick Sharga, inventory isn’t likely to rise significantly this year: “I believe that we’re likely to see low inventory continue to vex the housing market throughout 2023.”   Sellers are under no pressure to move since they have plenty of equity right now. That equity acts as a cushion for homeowners, lowering the chances of distressed sales like foreclosures and short sales. And with many homeowners locked into low mortgage rates, that equity cushion isn’t going anywhere soon. With so few homes available for sale today, it’s important to work with a trusted real estate agent who understands your local area and can navigate the current market volatility.   A lot of people expected prices would crash this year thanks to low buyer demand, but that isn’t happening. Why? There aren’t enough homes for sale. If you’re thinking about moving this spring, partner with a trusted real estate agent.

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Hidden New Construction Neighborhoods on Spokane's South Hill [Not on Zillow!]

  Welcome to Spokane's South Hill, a treasure trove of hidden new construction neighborhoods that offer exclusive opportunities for discerning homebuyers. If you're in search of a new home in this desirable area, you're in for a treat. Let's take a closer look at some of the unique options available:   D.R. Horton in 21st Ave & Cuba St. Nestled in a prime location at 21st Ave and Cuba St, D.R. Horton offers modern and stylish homes with a price range starting at $500,000. These thoughtfully designed homes boast contemporary architecture, high-quality construction, and a host of amenities to enhance your lifestyle. With open floor plans, spacious yards, and convenient access to schools and parks, D.R. Horton is an excellent choice for families or individuals looking for a new place to call home.   Greenstone Construction's Garden District If you're looking for a neighborhood that exudes charm and walkability, look no further than Greenstone Construction's Garden District. With homes priced between $600,000 to $700,000, this community offers an array of well-crafted homes with unique architectural designs, energy-efficient features, and high-end finishes. The Garden District is known for its tree-lined streets, parks, and nearby amenities, creating a welcoming environment that fosters a strong sense of community.   Superior Homes, Inc. For those seeking unparalleled luxury and exclusivity, Superior Homes, Inc. delivers in spades. With homes priced at $1,000,000 and above, these custom-built residences are meticulously crafted with the finest materials and finishes. From gourmet kitchens to spa-like bathrooms, no detail is spared in creating homes that exude elegance and sophistication. With breathtaking views and a prestigious location, Superior Homes, Inc. offers a truly exceptional living experience for the most discerning homebuyers.   Parson's Construction at Rockwood At the pinnacle of luxury living, Parson's Construction at Rockwood is a true masterpiece. With homes starting at $2,400,000, this exclusive enclave offers unparalleled craftsmanship, breathtaking vistas, and utmost privacy. These homes are meticulously designed with exquisite attention to detail and boast top-of-the-line amenities, creating an oasis of serenity and opulence. If you're looking for the epitome of refined living, Parson's Construction at Rockwood is the pinnacle of perfection.   One of the best parts about these hidden new construction neighborhoods on Spokane's South Hill is that they are not listed on Zillow, giving you an exclusive opportunity to discover these gems before others. These neighborhoods offer unique features, exceptional craftsmanship, and a high standard of living that is sure to exceed your expectations.   So, if you're searching for a new home in Spokane's South Hill and want something truly special, be sure to explore these hidden new construction neighborhoods that are not listed on Zillow. From modern and stylish to luxurious and exclusive, these communities offer unparalleled living experiences that are sure to captivate your heart. Don't miss out on the chance to discover these hidden gems

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