A Crucial First Step: Mortgage Pre-Approval [INFOGRAPHIC]
KCM • September 24, 2022
A Crucial First Step: Mortgage Pre-Approval [INFOGRAPHIC]
Some Highlights
- Mortgage pre-approval means a lender has reviewed your finances and, based on factors like your income, debt, and credit history, determined how much you’re qualified to borrow.
- Being pre-approved for a loan can give you clarity while planning your homebuying budget, confidence in your ability to secure a loan, and helps sellers know your offer is serious.
- Connect with a trusted professional to learn more and start your homebuying process today.
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The Price You Set Can Make (or Break) Your Sale There’s one decision you're going to make when you sell that determines whether your house sells quickly, or it sits. Whether buyers make an offer, or scroll past it. Whether you walk away with the maximum return, or you end up cutting the price later. And that’s your asking price . The #1 Mistake Sellers Make Today: Trusting the Wrong Number If you’re thinking of moving and trying to figure out what your house may sell for, it’s tempting to start with an online home value tool. They’re fast, free, and easy. And you don’t have to talk to anyone. But here’s the problem: they don’t know your house. And that can be a bigger drawback than you realize. Where Online Estimates Fall Short Online tools often lag behind the market. They look in the rearview mirror, relying on closed sales and delayed information. And in that sense, they’re using incomplete data . That’s not a miss in how these systems are built. Some information just isn’t available online. Bankrate explains: “ While these tools can be a useful starting point, keep in mind that they typically do not provide the most accurate pricing. Algorithms can only rely on the information available; they can’t account for things like a home’s condition or renovations made since the last public information was updated.” They can’t see: The unique features that make your house special All the work you’ve put in to keep it in good condition Or, how in-demand your specific neighborhood is right now So, while they may do a good job in some cases, they can’t be as accurate as a local agent who has boots on the ground day in and day out. In a market where buyers have more options, a seemingly small margin of error can cost you thousands if you price too low, or weeks of lost momentum and time if you price too high. If you want to sell for the most money and in the least amount of time, you don’t want the fast answer on how to price your house. You want the right one. That’s why the savviest homeowners today don’t rely on algorithms when it actually matters. They rely on people, specifically trusted local agents. What an Expert Agent Brings to the Table According to 1000WATT , sellers overwhelmingly believe real estate agents have the best sense of a home’s true value, far more than any automated tools. That confidence isn’t accidental. As Bankrate puts it: “A professional appraiser or real estate agent can visit the home in person, assess the neighborhood as a whole as well as the individual property, perform more thorough market research, and consider subjective details.” And those details matter. A skilled local agent doesn’t just pull reports. They know what’s happening right now: What buyers are paying this month, not last month, or even last year How your home compares to the current competition in your neighborhood Which features add value based on what buyers are willing to pay for today How to price your house to create urgency in this market And once an agent steps foot in your house, they may even find your online estimate undershot your value. So, if you stuck with the estimate you got online, you’d actually be leaving money on the table. And no one wants that. Bottom Line While online tools can give you a rough starting point, only a local expert can give you a price that actually works. If you want to know the right number for your house, not just the easiest one to find, let’s talk.
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Top 2026 Housing Markets for Buyers and Sellers W ho doesn’t love a top 10 list? Well, here are two top 10 lists for the housing market this year. But before you take a look, there’s something you should know. If a move is on your radar for 2026, here’s the most important thing you need to understand upfront: there isn’t one housing market this year – there are many. Experts agree 2026 is shaping up to be one of the most geographically split housing markets in years. Some areas are tilting in favor of sellers, while others are opening real doors for buyers. Who has the advantage depends almost entirely on where you are. Selma Hepp, Chief Economist at Cotality, puts it this way: “ Looking ahead to 2026, regional differences will remain pronounced, with demand favoring areas that offer both economic opportunity and relative affordability.” To show just how divided the landscape is, here’s a look at where sellers are expected to have the upper hand, and where first-time buyers may finally find their opening this year. Where Sellers Are Poised To Win Big in 2026 Zillow identified the following metros as some of the strongest seller markets for 2026, based on buyer demand , pricing momentum, and how quickly homes are expected to sell: In markets like these, buyers are going to be competing for limited inventory, which gives sellers more leverage. Homeowners in seller’s markets this year can expect: Stronger buyer interest Shorter time on market Better odds of selling close to (or above) asking price That doesn’t mean every listing is guaranteed success. But it does mean sellers who prepare well and lean on an agent’s expertise should be very happy with their results in 2026. Markets Where There’s More Opportunity for First-Time Buyers On the flip side, here’s a look at where buyers have the power – in particular, first-time buyers , since they’ve had the hardest time breaking into the market lately. Realtor.com highlights the top metros where first-time buyers are expected to have better opportunities in 2026: These markets stand out for a mix of: More affordable home prices Better housing availability Strong local amenities and economic health For first-time buyers, that combination matters. It’s what could finally turn “someday” into “this could actually work.” In buyer’s markets, they should expect: Less intense competition More room to negotiate A clearer path to getting an offer accepted What Matters More Than Any Top 10 List Not seeing your city on the list? Don’t stress. This is just a national snapshot, not a judgment on your local market. The goal here is just to show you how different the market really is depending on where you are. And remember, you can buy or sell no matter how your local market leans. You just need an agent’s help to figure out the right strategy to get it done. For example: A seller in a more buyer-friendly metro may need to be aggressive on their price and prep. A buyer in a seller-leaning area may still need to come prepared with their best offer. To find out where your market falls and what you should expect, you’ll want the help of a local expert. Bottom Line The housing market in 2026 isn’t one-size-fits-all. It’s a year where local conditions matter more than ever. Whether your market leans more buyer-friendly or seller-friendly, the right strategy can put you in a strong position. And that’s where a local expert comes in. Let’s connect.
