Area Real Estate News & Market Trends in Alamance County

Welcome to the Beausoleil Realty Group blog, a trusted resource for clear, local insight on buying, selling, and living in Alamance County. This blog is designed for buyers, sellers, and homeowners in Mebane, Burlington, Graham, Haw River, and surrounding communities who want to understand the market without the noise or pressure.

Here, we share thoughtful guidance on buyer strategies, seller preparation, market trends, and community highlights, along with behind-the-scenes perspective on how real estate decisions actually get made. Our goal is simple: to help you think clearly, ask the right questions, and move forward with confidence at every stage of your real estate journey.

May 27, 2024

Thinking of Selling? You Want an Agent with These Skills

Selling your house is a big decision. Your home is one of the biggest investments you’ve probably ever made, and it’s a place where you’ve created countless memories. That combo means there’s going to be a lot of emotions involved. You want someone who understands your perspective, knows what it feels like, and is an expert at helping homeowners just like you navigate the process of selling a home.

 

That’s where a good listing agent, also known as a seller's agent, comes in. Here are just a few skills you’ll want your agent to have.

 

The Ability To Turn Something Complex into Something Simple

Some agents are going to use big, fancy real estate terms to try and impress you. But you shouldn’t have to know all the industry jargon in order to understand what they’re saying. If anything, it's an agent’s job to keep it simple, so you don’t get overwhelmed or confused.

 

A great agent is going to be someone who is very good at explaining what’s happening in the housing market in a way that’s easy to understand. But they’ll take it one step further than that. They’ll explain what’s going on and, specifically, what that means for you. That way you’re always in the loop and it's a lot easier to feel confident when you’re making a big decision. As Business Insider explains:

 

“Maybe you have a better rapport with one of the agents you're considering, or you just feel like they're easier to approach. You're going to be working closely with this person, so it's important to choose an agent you're comfortable with.”

 

A Data-Based Approach on How To Price Your House

While it may be tempting to pick the agent who suggests the highest asking price for your house, that strategy may cost you. It’s easy to get caught up in the excitement when you see a bigger number, but overpricing your house can have consequences. It could mean your house will sit on the market longer because the higher price is actually turning away buyers.

 

Instead, partner with an agent who’s going to have an open conversation about how they recommend you should price your house. They won't throw out a number just to win your listing. A great agent will back up their number with solid data, explain their pricing strategy, and make sure you're both on the same page. As NerdWallet explains:

 

“An agent who recommends the highest price isn't always the best choice. Choose an agent who backs up the recommendation with market knowledge.”

 

A Fair, but Objective Negotiator

The home-selling process can be emotional, especially if you’ve been in your house for a long time. But that sentimental tie can make it harder to be objective during negotiations. That’s where a trusted professional can really make a difference.

 

They’re skilled negotiators who know how to stay calm under pressure. You can count on them to handle the back-and-forth and have your best interests at heart throughout the process. Not to mention, they’ll be able to rely on their market expertise and what they’re seeing work in other transactions to offer the best advice possible. As Rocket Mortgage explains:

 

“Whether this is your first or third time selling a house, listing agents work to help make the home selling process smoother and less stressful. These real estate professionals know the ins and outs of the industry and can help you secure the best deal.”

 

Bottom Line

Whether you're a first-time seller or you’ve been through this before, a great listing agent is the key to your success. Let’s connect so you have a skilled local expert by your side to guide you through every step of the process.

May 20, 2024

Worried About Home Maintenance Costs? Consider This

 

If one of the main reasons you’re hesitant to buy a home is because you’re worried about the upkeep, here’s some information you may find interesting on both new home construction and existing homes (a home that’s been lived in by a previous owner).

 

Newly Built Homes Need Less Upfront Maintenance

If you can afford it, you may find a newly built home could help ease your worries about maintenance costs. Think about it, if everything in the house is brand new, it won’t have the wear and tear you may see in an existing home – and that means it’s less likely to need repairs. As LendingTree says:

“Since the systems, appliances, roof and foundation are new, you’re less likely to pay for major or minor repairs within the first few years of homeownership. That can make a big difference for first-time homebuyers who are adjusting to owning rather than renting.”

 

Plus, many builders also have warranties on their homes that would cover some of the more major expenses that could pop up. As First American explains:

“The new systems in your home, like plumbing, electrical, and HVAC, are typically covered for one to two years by your builder’s warranty. When something happens to these systems, you contact the builder or their warranty company.”

 

Existing Homes Can Still Have Great Perks

But it’s worth mentioning, that it’s not just newly built homes that can have warranties. It’s an option for existing homes too.

 

Your agent may be able to help you negotiate with the seller to add one as a concession on your contract. But you should know that not all sellers will be willing to do that. If they won’t, you could purchase one yourself, if you’d like to. An article from Forbes explains:

 

“During a real estate transaction, a home warranty policy can be purchased by the buyer or the seller.”

And there are benefits for both parties when it comes to a home warranty. According to MarketWatch:

“A buyer’s home warranty benefits both buyers and sellers, as it helps the seller close the deal while providing the future homeowner with peace of mind that they’ll be covered if a system or appliance breaks down . . . Sometimes, a seller will pay for the first year of the home buyer’s warranty to sweeten the deal, but it depends on the real estate market.”

 

If you’re interested in a home warranty for peace of mind, lean on your agent. They’ll negotiate on your behalf to see if a seller would be willing to cover one for you. Just remember, the likelihood of a seller throwing one in depends on conditions in your local market.

 

So, Should I Buy New or Existing?

While the need for less upfront maintenance is a great perk for new construction, there are some things a newly built home can’t provide that an existing home can.

 

For example, existing homes have a lot of character and charm that’s difficult to reproduce. The quirks that come with an older home may make it feel more homey. And, existing homes usually have more developed landscaping and a well-established sense of community. So, it can feel more inviting than something that’s a blank slate, like new construction often is. Not to mention, if you go with new construction, you may have to wait for the home to finish being built based on where it is in the process. It all depends on what’s most important to you.

 

Bottom Line

Whether you choose a newly built or an existing home, you may be able to ease some of your concerns over maintenance with a home warranty. To weigh your options and go over what’s the top priority for you, talk to the professionals.

May 13, 2024

Questions You May Have About Selling Your House

 

There are no denying mortgage rates are having a big impact on today’s housing market. And that may leave you with some questions about whether it still makes sense to sell your house and make a move.

 

Here are three of the top questions you may be asking – and the data that helps answer them.

 

1. Should I Wait To Sell?

If you’re thinking about waiting to sell until after mortgage rates come down, here’s what you need to know. So are a ton of other people.

 

And while mortgage rates are still forecasted to come down later this year, if you wait for that to happen, you may be dealing with a lot more competition as other buyers and sellers jump back in too. As Bright MLS says:

 

“Even a modest drop in rates will bring both more buyers and more sellers into the market.”

That means if you wait it out, you’ll have to deal with things like prices rising faster and more multiple-offer scenarios when you buy your next home.

 

2. Are Buyers Still Out There?

But that doesn’t mean no one is moving right now. While some people are holding off, there are still plenty of buyers active today. And here’s the data to prove it.

 

The ShowingTime Showing Index is a measure of how frequently buyers are touring homes. The graph below uses that index to show buyer activity for March (the latest data available) over the past seven years:

 

You can see demand has dipped some since the ‘unicorn’ years (shown in pink). That’s in response to a lot of market factors, like higher mortgage rates, rising prices, and limited inventory. But, to really understand today’s demand, you have to compare where we are now with the last normal years in the market (2018-2019) – not the abnormal ‘unicorn’ years.

 

When you focus on just the blue bars, you can get an idea of how 2024 stacks up. And that gives you a whole new perspective.

 

Nationally, demand is still high compared to the last normal years in the housing market (2018-2019). And that means there’s still a market for your house to sell.

 

3. Can I Afford To Buy My Next Home?

And if you’re worried about how you’ll afford your next move with today’s rates and prices, consider this: you probably have more equity in your current home than you realize.

 

Homeowners have gained record amounts of equity over the past few years. And that equity can make a big difference when you buy your next home. You may even have enough to be an all-cash buyer and avoid taking out a mortgage altogether. As Jessica Lautz, Deputy Chief Economist at the National Association of Realtors (NAR), says:

 

“ . . . those who have earned housing equity through home price appreciation are the current winners in today's housing market. One-third of recent home buyers did not finance their home purchase last month—the highest share in a decade. For these buyers, interest rates may be less influential in their purchase decisions.”

Bottom Line

If you’ve had these three questions on your mind and they’ve been holding you back from selling, hopefully, it helps to have this information now. A recent survey from Realtor.com shows more than 85% of potential sellers have been considering selling for over a year. That means there are a number of sellers like you who are on the fence.

 

But that same survey also talked to sellers who recently decided to take the plunge and list. And 79% of those recent sellers wish they’d sold sooner.

 

If you want to talk more about any of these questions or need more information, let’s connect.

May 6, 2024

How VA Loans Can Help You Buy a Home

 

For over 80 years, Veterans Affairs (VA) home loans have helped millions of veterans buy their own homes. If you or someone you know has served in the military, it's important to learn about this program and its benefits.

 

Here are some key things to know about VA loans before buying a home.

 

Top Benefits of VA Home Loans

VA home loans make it easier for veterans to buy a home, and they're a great perk for those who qualify. According to the Department of Veteran Affairs, some benefits include:

 

Options for No Down Payment: Qualified borrowers can often purchase a home with no down payment. That’s a huge weight lifted when you’re trying to save for a home. The Associated Press says:

“. . . about 90% of VA loans are used to purchase a home with no money down.”

 

Don’t Require Private Mortgage Insurance (PMI): Many other loans with down payments under 20% require PMI. VA loans do not, which means veterans can save on their monthly housing costs.

 

Limited Closing Costs: There are limits on the types of closing costs you pay when you qualify for a VA home loan. So, more money stays in your pocket when it’s time to seal the deal.

 

An article from Veterans United sums up how remarkable this loan can be:

 

“For the vast majority of military borrowers, VA loans represent the most powerful lending program on the market. These flexible, $0-down payment mortgages have helped more than 24 million service members become homeowners since 1944.”

 

Bottom Line

Owning a home is the American Dream. Veterans give a lot to protect our country, and one way to honor them is by making sure they know about VA home loans.

Posted in Homes for Heroes
April 29, 2024

How an Agent Helps Market Your House

 

You’re ready to sell your house. But what do you need most from your real estate agent? Well, the National Association of Realtors (NAR) asked that very question to recent sellers and found one of the top things they were looking for is help marketing their house to potential buyers. Maybe that’s what you need the most help with too.

 

You expect your real estate agent to write a great description of your house for the listing and pair it with some high-quality photos. But that’s not all you’re going to get when you partner with a great agent.

 

We do a lot more to make sure your house stands out. Here are some of the most common methods real estate agents use to market homes according to that same report from NAR (see graph below):

Beausoleil Realty Group uses all the below methods and more when marketing your home.

 So, how can you benefit from your agent using these methods?

 

Listing on the MLS – By listing your house on the MLS, it will get more visibility from other real estate agents and buyers. This could lead to more traffic, which could ultimately help you see an increase in offers and ultimately a better price.

Using a Yard Sign – A yard sign catches the eye of people driving or walking by. This method drums up local interest since people who live nearby might have friends or family looking to move into the area. It also prominently displays your agent’s contact information, so interested buyers can get in touch easily.

Having an Open House – When your agent advertises and hosts your open house, buyers see others are interested in your house, too. This competition can lead to stronger offers. An open house is also easier for you since you only need to leave once for many buyers to visit. Plus, your agent may get useful feedback on what people like or don’t like, which can help you make improvements to attract more buyers later, if needed.

Showcasing on Your Agent’s Website – Having your house visible on your agent’s website allows for a professional presentation of your property. Additionally, people visiting your agent’s website are more likely to be serious buyers who are ready to make a move.

Social Networking – Your real estate agent works hard to have a wide-ranging social media presence. Marketing your house this way allows them to reach a large audience. It also makes it easy for people to share your listing with friends and loved ones who might be interested.

Providing Virtual Tours – Virtual tours are extremely convenient for buyers, especially those who are relocating from out of town. This method allows them to tour anytime, day or night. It shows your agent is using the latest technology to market your house.

There are many tools that can be used to market your house. As NerdWallet sums up:

“A good real estate agent will have a robust plan to promote your listing in an effort to find the right pool of buyers. Adding your home to databases of available homes called multiple listing services (MLS), open houses, 3D virtual tours, professional photography and broker tours for buyers’ agents (particularly for luxury homes) are all factors that may go into a marketing plan.”

As a seller, it’s smart to work with a creative local real estate agent who can maximize them to make sure you get as many eyes on your house as possible.

 

Bottom Line

When it comes to marketing your house, working with a local real estate agent has tons of benefits. If you’re ready to sell, but don’t know where to start, let’s chat.

April 22, 2024

The Biggest Mistakes Buyers Are Making Today

 

Buyers face challenges in any market – and today’s is no different. With higher mortgage rates and rising prices, plus the limited supply of homes for sale, there’s a lot to consider.

 

But, there's one way to avoid getting tripped up – and that’s leaning on a real estate agent for the best possible advice. An expert’s insights will help you avoid some of the most common mistakes homebuyers are making right now.

 

Putting Off Pre-approval

As part of the homebuying process, a lender will look at your finances to figure out what they’re willing to loan you for your mortgage. This gives you a good idea of what you can borrow so you can really wrap your head around the financial side of things before you start looking at homes. While house hunting can be a lot more fun than talking about finances, you don’t want to do this out of order. Make sure you get your pre-approval first. As CNET explains:

 

“If you wait to get preapproved until the last minute, you might be scrambling to contact a lender and miss the opportunity to put a bid on a home.”

 

Holding Out for Perfection

While you may have a long list of must-haves and nice-to-haves, you need to be realistic about your home search. Even though your ideal state is you find a home that checks every box, you may need to be willing to compromise – especially since inventory is still low. Plus, a home that has everything you want may be too pricey. As Investopedia puts it:

 

“When you expect to find the perfect home, you could prolong the homebuying process by holding out for something better. Or you could end up paying more for a home just because it meets all your needs.”

Instead, look for something that has most of your must-haves and good bones where you can add anything else you may need down the line.

 

Buying More House Than You Can Afford

With today’s mortgage rates and home prices, there’s no arguing it’s expensive to buy a home. And while it may be tempting to stretch your finances a bit further than you’re comfortable with to make sure you get the house, you want to avoid overextending your budget. Make sure you talk to your agent about how changing mortgage rates impact your monthly payment. Bankrate offers this advice:

 

“Focus on what monthly payment you can afford rather than fixating on the maximum loan amount you qualify for. Just because you can qualify for a $300,000 loan doesn’t mean you can comfortably handle the monthly payments that come with it along with your other financial obligations. Every borrower’s case is different, so factor in your whole financial profile when determining how much house you can afford.”

 

Not Working with a Local Real Estate Agent

This last one may be the most important of all. Buying a home is a process that involves a lot of steps, paperwork, negotiation, and more. Rather than take all of this on yourself, it’s a good idea to have a pro working with you. The right agent will reduce your stress and help the process go smoothly. As CNET explains:

 

“Attempting to buy a home without a real estate agent makes the process more arduous than it needs to be. A real estate agent can give you professional legal guidance, market expertise and support, which will save you time, money and stress. They can also increase your chances of finding the right home so you don’t have to spend hours scouring the internet for listings.” 

 

Bottom Line

Mistakes can cost you time, frustration, and money. If you want to buy a home in today’s market, let’s connect so you have a pro on your side who can help you avoid these missteps.

April 15, 2024

Simplify Your Life: The Power of Downsizing with Beausoleil Realty Group

In the hustle and bustle of modern life, finding sanctuary in your home is essential. However, as our needs evolve over time, so too should our living spaces. At Beausoleil Realty Group, we understand the importance of having a home that's the right size for your personal situation. Whether you're an empty nester looking to downsize or a young professional seeking a more manageable space, our experienced agents are here to guide you through the process with care and expertise.

 

Embracing the Right Size:   

Gone are the days when a large, sprawling home was the epitome of success. Today, more and more people are recognizing the value of right-sized living. According to a study published in Psychology Today, living in a space that's too large for your needs can lead to increased stress and decreased well-being. Downsizing to a home that perfectly fits your lifestyle not only reduces the physical clutter but also promotes a sense of calm and tranquility. With Beausoleil Realty Group as your partner, you can discover the freedom and joy that comes with embracing the right size for your home.

 

 

Comprehensive Support from Experienced Agents:

When it comes to downsizing, having an experienced agent by your side can make all the difference. At Beausoleil Realty Group, our team of professionals is dedicated to making the downsizing purchase and process as stress-free as possible. From conducting market research to find the perfect downsized property to negotiating offers and coordinating the logistics of your move, we handle every aspect of the transaction with precision and care. Our goal is to alleviate your worries and ensure a seamless transition to your new home.

 

 

Personalized Solutions for Your Needs:

 

We understand that every client's situation is unique, which is why we offer personalized solutions tailored to your specific needs and preferences. Whether you're looking for a smaller home in a vibrant urban neighborhood or a cozy cottage in a peaceful suburban setting, we'll work closely with you to find the perfect match. Our agents take the time to listen to your concerns, answer your questions, and provide expert advice every step of the way. With Beausoleil Realty Group, you can rest assured that your downsizing journey will be smooth, efficient, and stress-free.

 

  

Experience the Freedom of Right-Sized Living:

 

In conclusion, downsizing your home isn't just about reducing square footage—it's about reclaiming your time, energy, and peace of mind. With Beausoleil Realty Group as your trusted partner, you can experience the freedom of right-sized living with confidence and ease. Let us help you find the perfect home that perfectly fits your personal situation, so you can enjoy a simpler, more fulfilling life. Contact us today to learn more about our downsizing services and start your journey toward a happier, more harmonious home.

April 15, 2024

Outdoor Projects Can Boost Curb Appeal When You Sell

 

Some Highlights

 

 

  • In real estate, a good first impression is key. If the outside of a house looks welcoming, more people will want to come in and see it.
  • Your agent helps you by giving advice on what you may want to prioritize, finding easy fixes that make a big difference, knowing what buyers in your area like, and showing off your updates in your listing.
  • Let’s connect so you have expert advice on what'll have the biggest impact in our area. 
April 8, 2024

What Are Experts Saying About the Spring Housing Market?

If you’re planning to move soon, you might be wondering if there'll be more homes to choose from, where prices and mortgage rates are headed, and how to navigate today’s market. If so, here's what the professionals are saying about what’s in store for this season.

Odeta Kushi, Deputy Chief Economist, First American:

“. . . it seems our general expectation for the spring is that we will see a pickup in inventory. In fact, that already seems to be happening. But it won’t necessarily be enough to satiate demand.”

Lisa Sturtevant, Chief Economist, Bright MLS:

There is still strong demand, as the large millennial population remains in the prime first-time homebuying range.”

Danielle Hale, Chief Economist, Realtor.com:

“Where we are right now is the best of both worlds. Price increases are slowing, which is good for buyers, and prices are still relatively high, which is good for sellers.

Skylar Olsen, Chief Economist, Zillow:

“There are slightly more homes for sale than this time last year, and there is still plenty of competition for well-priced houses. Buyers should prep their credit scores and sellers should prep their properties now, attractive listings are going pending in less than a month, and time on market will shrink in the weeks ahead.

Jiayi Xu, Economist, Realtor.com:

“While mortgage rates remain elevated, home shoppers who are looking to buy this spring could find more affordable homes on the market than they saw at the same time last year. Specifically, there were 20.6% more homes available for sale ranging between $200,000 and $350,000 in February 2024 than a year ago, surpassing growth in other price ranges.”

If you’re looking to sell, this spring might be your sweet spot because there just aren’t many homes on the market. Sure, inventory is rising, but it’s nowhere near enough to meet today’s buyer demand. That’s why they’re still selling so quickly.

If you’re looking to buy, the growing number of homes for sale this spring means you’ll have more choices than this time last year. But be prepared to move quickly since there’ll be plenty of competition with other buyers.

 

Bottom Line

 

No matter what you're planning, let’s team up to confidently navigate the busy spring housing market.

 

April 5, 2024

What’s the Latest with Mortgage Rates?

 

 

Recent headlines may leave you wondering what’s next for mortgage ratesMaybe you’d previously heard there were going to be cuts this year that would bring rates down. That refers to the Federal Reserve (the Fed) and what they do to their Fed Funds Rate. While cutting, or lowering, the Fed Funds Rate doesn’t directly determine mortgage rates, it does tend to impact them. But when the Fed met last week, a cut didn’t happen — at least, not yet. 

There are a lot of factors the Fed considered in their recent decision and most of them are complex. But you don’t need to be bogged down by those finer details. What you really want is the answer to this question: does that mean mortgage rates aren’t going to fall? Here’s what you need to know. 

Mortgage Rates Are Still Expected To Drop This Year

While it hasn’t happened yet, that doesn’t mean it won’t. Even Jerome Powell, the Chairman of the Fedsays they still plan to make cuts this year, assuming inflation cools:

“We believe that our policy rate is likely at its peak for this tightening cycle and that, if the economy evolves broadly as expected, it will likely be appropriate to begin dialing back policy restraint at some point this year.”

When this happens, history shows mortgage rates will likely follow. That means hope isn’t lost. As a recent article from Business Insider explains:

“As inflation comes down and the Fed is able to start lowering rates, mortgage rates should go down, too. . .

What This Means for You

But you don’t necessarily want to wait for it to happen. Mortgage rates are notoriously hard to forecast. There are so many factors at play and any one of those can change the projections as the economy shifts. And it’s why the experts offer this advice. As Mark Fleming, Chief Economist at First American, says:

“Well, mortgage rate projections are just that, projections, not promises and don't forget how hard it is to forecast them. . . So my advice is to never try to time the market . . . If one is financially prepared and buying a home aligns with your lifestyle goals, then it could be the right time to purchase. And there's always the refinance option if mortgage rates are lower in the future.”

Basically, if you’re looking to move and trying to time the market, don’t. If you’re ready, willing, and able to move, it may still be worth it to do it now, especially if you can find the home you’ve been searching for.

 

Bottom Line

 

If you’re looking to buy a home, let’s connect so you have someone keeping you up-to-date on mortgage rates and helping you make the best decision possible.