If you’re a homeowner getting ready to move, one question usually comes first: should you buy your next home before you sell, or sell your current house before you start looking?

There’s no single right answer. The best call depends on your finances, your local market, and your timeline. And a trusted agent can help you weigh all of it.

But in a lot of cases these days, selling first puts you in the stronger spot.

The Advantages of Selling First

Selling is usually the trickier half of a move today, so getting it done first clears your biggest hurdle. And that’s especially true right now, because there are more homes for sale than there are buyers, which means houses are taking longer to sell than they did a year or two ago.

So how does leading with your sale pay off? Let’s start with the money.

1. You Won’t Get Stuck Paying Two Mortgages

Buy before you sell, and you could end up carrying two mortgages at once. And especially since houses are staying on the market longer these days, that overlap may drag on for more time than you’d planned. And if unexpected repairs come up, it could get even more expensive.

Selling first takes that risk off the table, so you’re not multitasking homeownership. As Ramsey Solutions puts it:

“It’s best to sell your old home before buying a new one to avoid unnecessary risks and possible headaches.“

2. You Can Use Your Equity To Fuel Your Move

This is always true, but one of the biggest perks of selling first is that you’ll know exactly how much money you’re walking away with. And one of the big figures that matters in that conversation is how much equity you have in your current place.

Equity is basically your house’s value minus what you still owe on your mortgage. And it adds up fast. According to Realtor.com, homeowners who’ve been in their home for 5 years have about $180,000 in equity on average. And those who’ve had their home for 6-10 years? They have over $340,000.

After you sell, you can use that money to cover your down payment or even buy your next home in cash. And knowing that profit up front helps you plan your next move.

3. Your Offer Will Be Hard To Pass Up

When your house is already sold, you don’t have to make your offer contingent on that sale. In a market where buyers are taking their time, that’s exactly what a seller wants to see.

Picture it from the seller’s side. If their house has been sitting for a while, they’ll gravitate toward the offer most likely to close without a snag.

That can also give you room to ask for a little more, like repairs, since a motivated seller would rather keep things moving than lose you and wait for another offer to come in. Your agent can help you make the most of your upper hand in that scenario.

Is There a Catch?

Selling first has its tradeoffs too, and it helps to see the pros and cons side by side before you decide. Here’s a quick breakdown based on information from Zillow (see visual below):

The cons are manageable with the right plan, so talk about them with your agent. They can help you negotiate things like a rent-back, where you stay in your house for a set time after closing, or line up flexible closing dates to keep the transition smooth.

Bottom Line

There’s no one-size-fits-all answer to buying and selling at once. But for a lot of homeowners, leading with the sale makes moving easier on their mind and their wallet.

Let’s connect, so you can navigate selling and buying with more confidence, more financial power, and less stress.

I can help you buy or sell a home in MD. Call Rich at 443.995.9595 Cell or 410.266.9005 Office.

Richard Iarossi, REALTOR®
Century 21 New Millennium
1730 West St., Suite 200, Annapolis, MD 21401
443.995.9595 Cell
410.266.9005 Office
eMail: rich@richsellshomes.com
Web: https://richsellshomes.com

A portion of every commission goes to support St. Jude charity directly

#AnnapolisRealEstate, #CroftonMDHomes, #BowieMDRealEstate, #SevernaParkHomes, #PasadenaMDHomes, #GambrillsRealEstate, #ArnoldMDRealEstate, #EdgewaterMDHomes, #MillersvilleMDHomes, #OdentonRealEstate

Buying a Home? Here’s What You Should Know About Home Insurance Costs.

If buying a home is on your radar, you’ve probably been keeping an eye on mortgage rates and home prices. But don’t forget about homeowners insurance.

Homeowners insurance has always been part of owning a home. But over the past few years, it’s become a larger expense for many homeowners – something that’s especially frustrating when affordability already feels tight.

The good news? While premiums are still rising, the latest data shows those increases are beginning to slow. Here’s what buyers should know.

Home Insurance Costs Have Gone Up

You’ve probably heard stories from friends or family about their premiums going up. And that’s not really a surprise when you consider data from the Pew Research Center shows 71% of homeowners say their insurance costs have gone up over the past few years.

While no one likes rising costs, knowing what to expect can help you plan ahead. Your first insurance payment is typically included in your closing costs, but after that it’ll become part of your monthly housing expenses.

Getting an insurance quote early can help you build a more realistic budget and avoid surprises later.

Premiums Are Rising, But Not as Fast as They Were

Most of the headlines focus on how home insurance is getting more expensive. And that’s true. But here’s the part that’s easy to miss.

Insurance premiums are still rising.

But they’re not rising as fast as they were.

According to the latest report from Rate Insurance, 2025 saw the first slowdown in annual premium increases since 2019 (see graph below):

That doesn’t mean premiums are getting cheaper. It simply means the rapid increases of the past several years may finally be starting to ease – a small but welcome step in the right direction.

But what you’ll pay in one part of the country can look very different from what someone pays somewhere else.

Where You Buy Can Make a Big Difference

Insurance costs vary because some parts of the country experience more claims than others. That’s why it’s important to look at what’s happening locally.

Your premium will depend on things like where you’re buying, the home itself, and the coverage you choose.

Forbes data can give a rough idea of your state’s typical premiums. Check out the map below – the darker the blue, the higher the costs tend to be in that state:

Ways To Lower Your Costs

While you can’t control every cost that comes with buying a home, you can control how prepared you are. If you’re crunching the numbers and trying to find ways to save, Insurify and NerdWallet offer these tips that can help you get the best insurance price possible:

• Shop Around – Compare quotes from multiple companies.
• Bundle Policies – Combine home and auto to see if a bundle price is cheaper.
• Ask If There Are Discounts – Don’t miss out on savings you may qualify for.
• Highlight Upgrades – Features like a new roof or storm windows can cut costs.
• Improve Your Credit – A stronger credit score can mean better premiums.

One of the smartest things you can do is get an insurance quote before you make an offer. That way, you’ll know what your monthly housing costs are likely to be before you commit.

An insurance professional can walk you through your options and help you find coverage that fits both your needs and your budget.

Bottom Line

Homeowners insurance has become a bigger part of the homebuying conversation. But it doesn’t have to become a bigger source of stress.

The key is knowing what to expect before you buy. Get an insurance quote early, factor it into your budget, and lean on trusted local professionals to help you make the most informed decision possible.

I can help you buy or sell a home in MD. Call Rich at 443.995.9595 Cell or 410.266.9005 Office.

Richard Iarossi, REALTOR®
Century 21 New Millennium
1730 West St., Suite 200, Annapolis, MD 21401
443.995.9595 Cell
410.266.9005 Office
eMail: rich@richsellshomes.com
Web: https://richsellshomes.com

A portion of every commission goes to support St. Jude charity directly

#AnnapolisRealEstate, #CroftonMDHomes, #BowieMDRealEstate, #SevernaParkHomes, #PasadenaMDHomes, #GambrillsRealEstate, #ArnoldMDRealEstate, #EdgewaterMDHomes, #MillersvilleMDHomes, #OdentonRealEstate

Home Price Growth Slowed Down. That May Be Changing.

After more than a year of headlines talking about how home prices are going to crash, the latest data shows that price growth may be starting to pick back up again. And depending on whether you’re buying or selling, that shift means something different for you.

The Numbers May Be Starting To Turn

For the past couple of years, home price growth has been moderating – cooling from around 7% in mid-2024, according to Redfin (see graph below). But look at the right side of that graph. The pace of that growth appears to have hit its low point and started to turn.

While a couple months of data doesn’t necessarily mean this will be a lasting trend, there are some other signs that this could continue.

For example, fewer markets are seeing prices decline. According to ResiClub and Zillow, about 36% of the 300 largest housing markets had falling prices as of the middle of last year. Since the start of this year, that share has been shrinking. Now? Only 23% are experiencing those mild dips (see graph below):

When fewer markets see prices falling, that means more markets are seeing prices rise again.

And forecasts suggest this shift has room to run. On average, experts project home prices will rise about 2.3% nationally this year. And for that to happen, price growth would have to pick up a bit in the second half of 2026.

But Remember, Real Estate Is Local

While it looks like national prices may be starting to pick back up a tiny bit, that doesn’t mean that’s what’s happening in your neighborhood.

National home prices are really just an average of hundreds of local markets. Some are climbing faster. Others are still cooling. But one reason the national average may be looking up is because a growing number of metros may actually be net positive for prices this year.

Not long ago, the major metros were split about 50/50 – half seeing prices rise and half seeing them fall. Now, that balance looks like it’s starting to tip in a more positive direction. Just last month, more than half of the major metros saw prices go up, according to Redfin (see graph below):

As Selma Hepp, Chief Economist at Cotality, explains:

“. . . local markets continue to tell very different stories. Annual home price growth has changed little since the start of the year, but some markets, especially those supported by strong job and income growth in the West and more affordable Midwest markets, have seen notable acceleration in price gains.”

What This Means for You

Home price headlines can be confusing because they don’t always tell the full picture. Lean on an agent to understand what’s happening in your local market and what the early signs say for where prices may go from here.

That’s the best way to stay one step ahead of the market.

If you’re buying: slower price growth has worked in your favor. You’ve had more room to negotiate and a budget you could plan around. If price growth is picking up in your area, buying now may mean paying less than you would later this year.

If you own a home: you’ve been gaining equity all along, even while growth moderated. If growth keeps picking up, those gains could speed up, too. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), projects the typical homeowner will gain roughly $16,000 in housing wealth this year. And if you’re thinking about selling, this shift is a good early sign for you. Just remember, the market is still pretty balanced and buyer-friendly in a lot of areas right now.

Home price growth slowed way down, and now it’s showing early signs of picking back up. Whether you’re buying or selling, let’s connect so you can see exactly what prices are doing in our local market and what that means for your plans.

Bottom Line

Home price growth slowed way down, and now it’s showing early signs of picking back up. Whether you’re buying or selling, let’s connect so you can see exactly what prices are doing in our local market and what that means for your plans.

I can help you buy or sell a home in MD. Call Rich at 443.995.9595 Cell or 410.266.9005 Office.

Richard Iarossi, REALTOR®
Century 21 New Millennium
1730 West St., Suite 200, Annapolis, MD 21401
443.995.9595 Cell
410.266.9005 Office
eMail: rich@richsellshomes.com
Web: https://richsellshomes.com

A portion of every commission goes to support St. Jude charity directly

#AnnapolisRealEstate, #CroftonMDHomes, #BowieMDRealEstate, #SevernaParkHomes, #PasadenaMDHomes, #GambrillsRealEstate, #ArnoldMDRealEstate, #EdgewaterMDHomes, #MillersvilleMDHomes, #OdentonRealEstate

The House That Started It All Could Kickstart What’s Next

Remember how exciting it was to buy your first place? It felt like crossing a long-awaited finish line. It gave you a place to build your life. Maybe it’s where you lived when you got married. Or where you welcomed a child or a pet into the family.

But that was just the beginning.

For most people, your first house was never meant to be your forever home. It’s a stepping stone for what comes next.

And if your life looks different today than it did when you got the keys, you’re not stuck. Moving may be more realistic than you think.

Starter Home Inventory Is Still Relatively Low

If you’ve been wondering whether now is the right time to move up, here’s something worth knowing. Starter homes remain one of the hardest types of homes to find. And that’s good news if you’re thinking about selling your first place.

Historically, we haven’t been building enough homes for first-time buyers. And even though homebuilders have shifted more attention toward smaller, entry-level homes lately, the Census shows there’s a long way to go to re-build supply (see graph below):

That means your current house is in demand – and that’s a dream scenario for sellers. But that’s only half the story. You also need somewhere to go.

There Are More Move-Up Homes on the Market

Here’s where this gets interesting. While the supply of starter homes remains tight (the green line), data from Redfin shows that the number of homes for sale has been climbing overall (the blue line):

As Nadia Evangelou, Principal Economist and Director of Real Estate Research at the National Association of Realtors (NAR), explains:

“Too much of the inventory available today remains concentrated at higher price points, leaving a shortage of options for entry-level and middle-income buyers.”

That means you may have more choices for your move up than you’d expect. Whether you’re hoping for another bedroom, a home office, a bigger backyard, or simply more room for this next stage of life, today’s market may finally be giving you the chance to find it.

At the same time, your current house may be exactly what someone else has been looking for because homes like yours are still in short supply. That’s a unique advantage for move-up buyers. And it could help you sell for a stronger price. As Zillow says:

“Starter home value appreciation has outpaced other types of homes nationally, mostly because they’re so in demand.”

Your Biggest Advantage May Be Your Equity

Here’s the cherry on top. There’s one more thing your first home has been doing behind the scenes, and that’s building equity. Every mortgage payment you’ve made and every year your home’s value has grown has quietly increased your ownership stake in your house.

According to Cotality, the average homeowner with a mortgage has $295k in equity built up. While your number may be different, once you sell, it could become the down payment on your next home or help reduce the amount you need to borrow at today’s rates.

Put it all together and your move up becomes a lot more realistic than you think:

• The house you’re selling is in demand.
• The house you’re buying may be easier to find.
• And the equity you’ve built can help bridge the gap between the two.

Your first home did exactly what it was supposed to do. It gave you a place to start.

Now, it may be the thing that helps you take the next step.

Bottom Line

Your first home was never meant to be your forever home. It was meant to help you build a life and build the financial foundation for whatever came next.

If your current home no longer fits the life you’re living today, let’s connect. You may be closer to your next chapter than you realize.

I can help you buy or sell a home in MD. Call Rich at 443.995.9595 Cell or 410.266.9005 Office.

Richard Iarossi, REALTOR®
Century 21 New Millennium
1730 West St., Suite 200, Annapolis, MD 21401
443.995.9595 Cell
410.266.9005 Office
eMail: rich@richsellshomes.com
Web: https://richsellshomes.com

A portion of every commission goes to support St. Jude charity directly

#AnnapolisRealEstate, #CroftonMDHomes, #BowieMDRealEstate, #SevernaParkHomes, #PasadenaMDHomes, #GambrillsRealEstate, #ArnoldMDRealEstate, #EdgewaterMDHomes, #MillersvilleMDHomes, #OdentonRealEstate

Priced Out? A Condo or Townhome Could Be Your Way In.

Today’s home prices have a lot of buyers – especially first-time buyers – wondering if there’s even anything out there that’s in their budget. But owning a home may be more within reach than you think. Sometimes, it just means considering a different type of home.

Condos and townhomes can be a great way to buy without stretching every last dollar. And right now, two things make them worth a serious look.

There Are More Condos and Townhomes To Choose From

Maybe you feel like there’s just nothing out there for you, and you’ve exhausted all your options. But have you considered condos or townhomes? A lot of buyers start by looking for a single-family, detached home without even realizing what that search omits from their pool of choices.

According to HousingWire Data, there were 233,030 condos and townhomes for sale this June. That’s more than any June in at least the past decade, and more than double the number available back in 2022 (see graph below):

That means there are more options out there in this segment of the market – and that’s especially good news for first-time buyers. These types of homes can be a great way to break into the market for less.

Just remember, that’s the national number. What’s available will depend on where you’re looking. But generally speaking, more options means less competition, more time to decide, and more room to negotiate.

They Also Tend To Cost Less Than Single-Family Homes

Price is the other big draw. According to the National Association of Realtors (NAR), the median condo price was $380,000 in June. In contrast, the median single-family home price was $446,400 (see graph below):

That’s a difference of more than $66,000.

A big reason why? Condos are usually smaller than single-family homes. And smaller homes can come with smaller price tags.

And if you don’t need all that extra space, that lower entry price could be exactly what gets you through the door.

Condo or Townhome? How They’re Different.

For buyers who feel priced out of the market, a condo or townhome could be a way in. But there are some things to know. Before you start checking out homes, it’s good to understand how these two compare to each other – and to a single-family home.

• With a single-family detached home, you own the house and the land it sits on, and you don’t share any walls with neighbors. That means the most space and privacy. But it also usually comes with a higher tag, and all the maintenance is on you.
• With a townhome, you own the building and the lot it sits on. They’re usually multi-level, so you get more space, and you share two walls at most. You’ll also have more say over how your home looks and how repairs get done, but more of that upkeep falls on you.
• With a condo, you own just the inside of your unit and may have access to community features like a pool or gym. The building and shared space belong to everyone who lives there, which means you have less maintenance responsibilities. But you’ll also likely have more neighbors around you, less control over building decisions, and higher HOA fees since the HOA handles the exterior and common areas.

Bottom Line

A condo or townhome could be your path to owning a home without blowing your budget. Let’s connect to see what’s for sale in our area and figure out which type of home fits your lifestyle, and your bottom line.

I can help you buy or sell a home in MD. Call Rich at 443.995.9595 Cell or 410.266.9005 Office.

Richard Iarossi, REALTOR®
Century 21 New Millennium
1730 West St., Suite 200, Annapolis, MD 21401
443.995.9595 Cell
410.266.9005 Office
eMail: rich@richsellshomes.com
Web: https://richsellshomes.com

A portion of every commission goes to support St. Jude charity directly

#AnnapolisRealEstate, #CroftonMDHomes, #BowieMDRealEstate, #SevernaParkHomes, #PasadenaMDHomes, #GambrillsRealEstate, #ArnoldMDRealEstate, #EdgewaterMDHomes, #MillersvilleMDHomes, #OdentonRealEstate

More Homes, Better Prices: A Buyer’s Summer

If you’ve thought about buying a home in the past few years, you may have run into two frustrations: asking prices that kept climbing and too few homes to choose from.

In many places, both sticking points are letting up this summer, with lower asking prices and more homes for sale. Let’s look at the trends, and what they mean for your search.

Sellers Are Pricing To Attract Buyers

According to Realtor.com, the national median asking price was $430,000 in June, nearly $11,000 under what it was the year before (see graph below):

That’s the eighth month in a row that the typical asking price has dipped below where they were the previous year, according to the same Realtor.com report.

And while falling prices can sound worrying, this isn’t a sign of an impending crash. We’re talking about asking prices, not sold prices. This is a sign that today’s sellers are meeting the market where it is and pricing to draw buyers. And that’s actually something normal we’d expect from the market. As Danielle Hale, Chief Economist at Realtor.com, puts it:

“Sellers are reading market conditions and are pricing accordingly from the start rather than listing high and cutting later, and buyers are taking note and making bids. This is a welcome sign that we are in a functioning market.”

Asking prices were never going to climb forever – now they’re just settling closer to what buyers can actually pay. That signals a healthier market, and sellers re-adjusting their expectations.

More Homes Are Available Now

If you’ve spent the past few years watching homes disappear before you could even schedule a tour, this is for you.

Supply is starting to catch up. According to Realtor.com, the number of homes listed for sale in June was the highest June number we’ve seen in three years (see graph below):

This means more options for you and less competition for each one.

Now, supply is not back to normal everywhere. As you can see, we’re still down from where we were back in 2017-2019. But in many places, it’s better than it’s been in a while. Here’s how that helps you.

You don’t have to rush an offer just to stay in the running, and you have better odds of finding and landing the right home, not just the one that’s available. Plus, you’ll have more room to negotiate, so you’re searching from a stronger position than buyers had even a year ago.

Why This Is Encouraging if You’re Buying Your First Home

For first-time buyers looking for lower-priced homes, these trends line up especially well. Mischa Fisher, Chief Economist at Zillow, explains:

“The lowest price tiers are exhibiting some softness in terms of price, they also had the most listing-activity growth, the first time since 2022 that’s been the case.”

So, if you’re searching for your first place or your next house, there’s a little more to choose from and a little more give on price.

Bottom Line

If a tight budget or a thin selection has kept you from buying a home, now might be the time to restart your search.

Ready to see what’s available here? Let’s connect.

I can help you buy or sell a home in MD. Call Rich at 443.995.9595 Cell or 410.266.9005 Office.

Richard Iarossi, REALTOR®
Century 21 New Millennium
1730 West St., Suite 200, Annapolis, MD 21401
443.995.9595 Cell
410.266.9005 Office
eMail: rich@richsellshomes.com
Web: https://richsellshomes.com

A portion of every commission goes to support St. Jude charity directly

#AnnapolisRealEstate, #CroftonMDHomes, #BowieMDRealEstate, #SevernaParkHomes, #PasadenaMDHomes, #GambrillsRealEstate, #ArnoldMDRealEstate, #EdgewaterMDHomes, #MillersvilleMDHomes, #OdentonRealEstate

Think Nobody’s Buying Homes Right Now? Think Again.

If you’ve been thinking about selling, you’ve probably seen plenty of headlines suggesting buyers have just about disappeared. But there’s a big difference between a slow market and a stalled one.

Yes, mortgage rates are still higher than most people would like. Homes aren’t selling as fast as they were. And every week seems to bring another headline about buyers sitting on the sidelines. But here’s what you haven’t heard.

Despite everything going on, buyer demand has been remarkably resilient.

In fact, more sellers are getting to put up the “pending sale” sign now than during the last two years. What’s even more surprising is that they’re doing it at a time of year when activity usually starts to slow down.

And if you’re thinking about selling, that’s a trend worth paying attention to.

Buyers Are More Active Than You Think

One of the best ways to measure buyer demand is by looking at pending home sales. Those are homes that have gone under contract but haven’t closed yet. Think of them as a real-time pulse check on the market and whether buyers are still buying.

HousingWire Data shows more homes are going under contract than at the same time the past 2 years (see graph below):

While it may come as a surprise, the numbers speak for themselves. It doesn’t mean buyers are everywhere, but it does mean they’re still active right now. And even if this ebbs and flows a bit in the weeks ahead, right now we’re still ahead of where we’ve been lately. That’s encouraging news if you’re thinking about selling because it tells us something important…

People haven’t stopped buying homes. Serious buyers are still making moves.

And a lot of these people are buying because they decided they can’t keep waiting. Whether it’s a growing family, a new job, retirement, or simply wanting a different home, life keeps moving… even when mortgage rates stay higher than we’d like. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:

“A late spring buyer rush—even with mortgage rates not budging—is an indication of pent-up housing demand and consumers’ acceptance of above-6% mortgage rates as the new normal.”

So, if you’ve been worried no one’s buying, this data should give you some confidence. Today’s buyers aren’t just casually browsing open houses on a Sunday afternoon, they’ve spent months waiting for rates to improve and now they realize they can’t wait anymore.

That means they have a purposeand a timeline. And that’s exactly the kind of motivated buyer you want to work with.

What This Means for Your Sale

Does that mean every house will sell instantly? No.

Today’s market is more balanced than it was a few years ago.  So, you can’t just price your house however you want or skip preparing it for the market.

Now buyers have choices, and they’re willing to wait for the right home at the right price. But sellers who understand today’s market (and price and position their homes right) are still finding success. Because the idea that “no one’s buying right now” just isn’t supported by the data.

The buyers are there.

The opportunity is there.

The key is having the right strategy to capture it.

Bottom Line

This year’s housing market may be moving slower than many of us hoped. But, buyer demand is more resilient than the headlines suggest.

If you’re wondering whether there are enough buyers for your house, let’s connect. I’ll show you what’s happening in our local market and build a strategy that helps you take advantage of the momentum that’s already here.

I can help you buy or sell a home in MD. Call Rich at 443.995.9595 Cell or 410.266.9005 Office.

Richard Iarossi, REALTOR®
Century 21 New Millennium
1730 West St., Suite 200, Annapolis, MD 21401
443.995.9595 Cell
410.266.9005 Office
eMail: rich@richsellshomes.com
Web: https://richsellshomes.com

A portion of every commission goes to support St. Jude charity directly

#AnnapolisRealEstate, #CroftonMDHomes, #BowieMDRealEstate, #SevernaParkHomes, #PasadenaMDHomes, #GambrillsRealEstate, #ArnoldMDRealEstate, #EdgewaterMDHomes, #MillersvilleMDHomes, #OdentonRealEstate