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This is how we align ourselves as the best in the industry.

Top 2 Questions To Ask Yourself if You’re Considering A Home Purchase.

If you’re thinking of buying a home, chances are you’re paying attention to just about everything you hear about the housing market. Most likely, home prices and mortgage rates. To help cut through the noise and give you the information you need most, take a look at what the data says. Here are the top two questions you need to ask yourself about home prices and mortgage rates as you make your decision:

1. Where are home prices heading?

One reliable place you can turn to for that information is the Home Price Expectation Survey from Pulsenomics – a survey of a national panel of over one hundred economists, real estate experts, and investment and market strategists. According to the latest release, the experts surveyed are projecting that the worst home price declines are already behind us, and prices are actually appreciating again in many markets.

This graph shows a projection of the future. The green in the graph below shows prices have turned a corner and are expected to appreciate in 2024 and beyond. After this year, the HPES is forecasting home price appreciation returning to more normal levels for the next several years.

So, why does this really matter? It means your home will likely grow in value and you should gain home equity in the years ahead, but only if you buy now. If you wait, based on these forecasts, the home will only cost you more later on.

2. Where are Mortgage Rates Heading?

Over the past year, mortgage rates have risen in response to economic uncertainty, inflation, and more. We know based on the latest reports that inflation, while still high, has moderated from its peak. This is an encouraging sign for the market and for mortgage rates. Here’s why. When inflation cools, mortgage rates generally fall in response. This may be why some experts are saying mortgage rates will pull back slightly over the next few quarters and could potentially be somewhere around roughly 5.5 and 6% on average.

•If you buy now and mortgage rates don’t change: You made a good move since home prices are projected to grow with time, so at least you beat rising prices.

•If you buy now and mortgage rates fall (as projected): You probably still made a good decision because you got the house before home prices appreciated more. And, you can always refinance your home later on if rates are lower.

•If you buy now and mortgage rates rise: If this happens, you made a great decision because you bought before both the price of the home and the mortgage rate went up.

Bottom Line

If you’re thinking about buying a home, you need to know what’s expected with home prices and mortgage rates. While no one can say for certain where they’ll go, expert projections can give you powerful information to keep you informed. Lean on your trusted DRG Professional Realtor who can add in an expert opinion on the local market.

The Mansfield Innovation Community — also to be known as “The MIC brings “innovation vision to reality”

Adding to the growing list of projects in Mansfield, the city announced plans in January to create The Mansfield Innovation Community, also known as “The MIC.” The project, in partnership with Admiral Legacy Investments, will be part of the planned Mansfield Innovation Corridor and will occupy 18 acres of land at Heritage and Regency Parkways, with one million square feet of master-planned community slated to be developed in phases.

HEB

The MIC will feature collaborative spaces, retail, corporate residence, parks, trails, education, an innovation hub, and corporate headquarters. The project is slated to break ground in spring 2024, with Phase 1 scheduled to open by Summer 2025.

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Jarrett Newton

Jarrett is a well known professional in the Real Estate Industry. His professionalism, knowledge and assiduity are invaluable assets not only to DRG but also guides his leadership as Director at Arlington Board of Realtors.

Ben Christopherson

Ben has embodied what it truly means to serve others. Significantly increasing his presence in our communities he was involved in DRG’s volunteering at H.I.M. Food Bank, honed in on his focus to elevate his business and continues to lead by example.

Patty Smith Rachael Brenneman

Patty’s drive and determination has catapulted her business and she has become a well respected member in our community. Patty serves as a committee member on the MLS Board at Arlington Board of Realtors and The Patty Smith Group is one of DRG’s top producing teams.

Rachael is the epitome of what it means to have a servant heart. Building her team she has grown as a leader and as a trusted professional in our community. A top producing DRG team, The Brenneman Team has been recognized for multiple awards and is also a partner of Mansfield’s Adopt A Street Program.