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Showing posts with the label selling a home in a recession

“Will Real Estate Agents Still Matter in 5 Years? Here’s What Retirees & Downsizers Need to Know”

If you’ve been thinking about selling your home—whether to downsize, move closer to family, or just simplify your lifestyle—you’ve probably noticed the growing buzz around real estate apps, AI tools, and online home-buying companies. Maybe you’ve even wondered: "Will I still need a real estate agent in a few years?" It’s a great question. And the short answer is: yes—absolutely. But the why is what really matters, especially if you're a homeowner in your 60s or older looking to make a move. 🧠 Technology Is Helpful—But It’s Not a Replacement There’s no doubt the tools available today are impressive. You can get an online home estimate in seconds or take virtual tours of homes across the country. But when it comes time to sell your home—the biggest asset most people ever own—technology has its limits. Zillow can’t walk through your house and tell you that your updated kitchen is a key selling point. It can’t explain how market shifts in Pembroke Pines or Miramar are...

The Truth About Buying Your First Home in Your 30s or 40s

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  Buying your first home doesn’t look anything like it did 30 years ago.  The average first-time buyer in 2024 is 38 years old. Compare that to 33 in 2020 and 31 between 1993 and 2018. So if you’re renting in your 30s or 40s, it’s easy to wonder: Did I miss my window? The short answer is not at all.  In fact, you’re right on time—and there are solid financial and personal reasons for that. Why Are Buyers Waiting Longer? Research from John Burns Research & Consulting shows that Americans are hitting major life milestones later across the board: The average age of first-time mothers is now 30 (up from early 20s a few decades ago). Only 33% of today’s 30-year-olds own a home, compared to 47% in 1984. Only 48% of 30-year-olds have been married (down from 78% in 1984) And 72% of renters are now over the age of 30—the highest share ever recorded. This isn’t a fluke. Each generation since the baby boomers has reached these milestones later than the previous one. We're seein...

Recession Fears Are Growing—Here’s What It Means for Real Estate

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  Every time the word "recession" starts popping up in headlines, it brings a wave of uncertainty—especially for anyone thinking about buying or selling a home. You might be wondering: Are home prices going to crash? Will mortgage rates skyrocket? Should I wait to make a move? Totally fair questions—and you’re not alone in asking them. The good news is we can look to history to get some real answers. Let’s break it down. A Recession Doesn’t Automatically Mean Home Prices Will Drop First, let’s clear up a common myth: A recession is not the same as a housing crash. Data shows that in 4 of the last 6 U.S. recessions, home prices actually went up, and in one, home prices dropped less than 2%. The exception was 2008—and that was a very specific situation involving risky loans, overbuilding, and a financial system that was already on the brink. So, what usually happens? Home prices tend to stay on track or slow down gradually. Fewer buyers may jump into the market, but that doesn...