http://coldwellbankersunvalley.com/blog/147/sort_entrydatetime-desc/  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 UpYou'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 WereMost 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 DifferenceInsurance 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 CostsWhile 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 LineHomeowners 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. http://coldwellbankersunvalley.com/blog/147/10826/buying-a-home?-here's-what-you-should-know-about-home-insurance-costs/ Thu, 30 Jul 2026 08:13:03 -0700  Saving for a down payment can feel like the hardest part of buying a home. And with affordability as tight as it’s been lately, it’s fair to wonder how anyone manages it right now. Here’s something you may not have seen coming. Some people are getting their foot in the door with a smaller down payment.According to Realtor.com, the typical buyer put down about $23,400 in early 2026 – that's around $5,000 below what was typical the year before (a 19% drop year over year). That’s the lowest down payments have been since 2021 (see graph below):So why are buyers putting less money down, and how can you put less down, too? Here’s your answer.Why Down Payments Are Getting SmallerThere are a few things driving the trend:Less competition between buyers. Part of it comes down to a more balanced market. With buyers facing less competition than they did a few years ago, there’s less pressure to put a big sum down just to stand out.More moderate home prices. Your down payment is a percentage of the purchase price. So, as price growth cools, the amount you need to put down may change too. In a lot of markets, prices have slowed or leveled off, and some areas are even seeing slight dips. That can translate into smaller down payments.Buyers opting for loans with lower down payments. More buyers are also turning to government-backed loans, like FHA and VA, which often need little or no money down. FHA loans have made up more than 24% of purchase mortgages for five straight quarters, and VA loans recently hit their highest share in over a decade, according to Mortgage Professional America.But even a smaller down payment is still a significant chunk of cash, and saving it can be hard. So where does the rest come from? For many buyers, two things make the difference: programs built to help, and a hand from loved ones.Help You May Not Know You Qualify ForDown payment assistance is one of the most overlooked tools out there. Looking at the 10 largest U.S. metros, Urban Institute and Down Payment Resource found nearly 44% of recent buyers already qualified for a down payment program, but many of them closed on their loan without tapping the help (see chart below):The options are broader than you might assume, too. According to Down Payment Resource:There are more than 2,600 down payment assistance programs availableMore than half (62%) are designed to help first-time buyers38% have no first-time buyer requirement, so you may qualify even if you've owned before62% are open to buyers earning $100,000 or moreA Boost from Loved OnesFor a growing number of buyers, help comes from closer to home. Research from Veterans United shows about 59% of parents have provided or plan to provide financial support to help their child buy a home.That support most often goes toward the down payment, followed by help qualifying for a mortgage and covering closing costs. Chris Birk, VP of Mortgage Insight at Veterans United, puts it this way:“For many families, helping a child buy a home has become less of an optional gesture and more of a practical response to today’s affordability challenges.”If your loved ones are in a position to help, it can make a real difference in how soon you can buy.Bottom LineDown payments are smaller than they’ve been in years, and that opens the door for more buyers.And with added help from assistance programs and a little help from loved ones, you may have more ways forward than you realized. Connect with a trusted lender to talk through your options. http://coldwellbankersunvalley.com/blog/147/10824/down-payments-are-smaller-than-they’ve-been-since-2021/ Thu, 09 Jul 2026 01:59:17 -0700 If the housing market feels confusing right now, you’re not alone.Mortgage rates have risen. Home sales haven't picked up like expected. And many buyers and sellers are wondering when things are going to feel easier or be more affordable.The truth is: a lot changed over the first half of this year.Back at the end of 2025, economists were forecasting a much stronger housing market for 2026. They expected mortgage rates to come down, affordability to improve more dramatically, and home sales to rebound.But lingering inflation, economic uncertainty, and growing geopolitical tensions overseas pushed mortgage rates higher than expected. And because rates stayed elevated for longer, many buyers continued to hold off.That’s why experts recently revised their housing forecasts for the rest of the year (see graph below):So, what does this actually mean for you? Let’s break it down.Mortgage Rates May Remain ElevatedWhile just about everyone wants mortgage rates to go back to the uppers 5s or low 6s we saw at the start of the year, as of right now, the experts don’t think that’s likely to happen this year.Instead, forecasts have been updated from the low 6s they originally projected. Many industry organizations are saying rates will stay in roughly the mid 6s this year. The good news is, that’s still lower than rates were a year ago.Of course, this is based on what we know today. If the conflict overseas comes to an end or inflation drops, this could change. But if you’re waiting for lower rates, it may not pay off in the way you expect.Existing Home Sales Revised LowerBack in late 2025, experts expected we’d sell an average of 4.5 million homes this year. Now? That’s dropped down a bit to 4.2 million.That tells us something important: buyers are still hesitant because affordability remains challenging.Higher mortgage rates have made monthly payments harder to manage, especially for first-time buyers. And that’s slowed the pace of the market compared to what was originally expected. But even though the forecast was revised down, we’re still expected to sell more homes than last year. Once geopolitical tensions resolve and rates begin to settle down, many experts believe that group of buyers will be ready to jump back in. As Lawrence Yun, Chief Economist at NAR, explains:“There is sizable pent-up demand that could be released into the market.”There has already been a few glimmers of renewed hope lately. In recent months, pending homes sale have been improving month-over-month despite higher rates.So, if you’re able to afford a home at today’s rates, it could still make sense to buy now. Because otherwise, if you wait, you’ll have more competition (and potentially fewer homes to choose from) when those others buyers jump back in.New Home Sales Also SlowedBuilders also expected to have a stronger year. Earlier forecasts projected new home sales would top 700k in 2026. Now, economists expect we'll be just shy of that number.Again, mortgage rates are a major reason why.But the upside for buyers is that builders may be even more motivated to sell. That means builder incentives, negotiation opportunities, and pricing flexibility may continue in many markets. So, if you live somewhere where there’s more new construction, this may actually be a bright spot for you.Builders could be more ready to negotiate, and that gives you more leverage to get a better deal.Home Prices Are Still Expected To RiseThis is one of the most important takeaways from the entire forecast. Even though sales activity is slower, on average, experts did not revise their home price forecast downward.They still expect prices to rise nationally this year.Why? Because while buyer demand has softened, the number of homes for sale is still relatively limited overall. That imbalance is helping support prices, even in a slower market.Of course, conditions vary depending on where you live. Some markets are cooling more than others. But nationally, experts are still projecting steady price growth — not a major decline. And that should be a comfort whether you’re buying or selling.Because sellers don’t want a major drop in prices. And while buyers may think they do, generally you feel better about a big purchase when it doesn’t depreciate right away.Bottom LineThe housing market hasn’t rebounded as quickly as experts originally hoped. But that doesn’t mean it’s stalled.Higher inflation and lingering economic uncertainty caused economists to revise their forecasts for this year. But importantly, when those two things settle down, many experts believe the market will regain its momentum.So don’t see this revision in forecasts as a sign of trouble. See it as a temporary reaction to overall conditions and uncertainty.If you want to know what’s happening in our local market, and what it could mean for your plans for the rest of this year, let’s connect. http://coldwellbankersunvalley.com/blog/147/10821/the-mid-year-housing-market-update:-why-forecasts-changed-in-2026/ Fri, 05 Jun 2026 02:15:43 -0700  You’ve been waiting for what feels like forever for mortgage rates to finally budge. And last week, they did – in a big way.On Friday, September 5th, the average 30-year fixed mortgage rate fell to the lowest level since October 2024. It was the biggest one-day decline in over a year.What Sparked the Drop?According to Mortgage News Daily, this was a reaction to the August jobs report, which came out weaker-than-expected for a second month in a row. That sent signals across the financial markets, and then mortgage rates came down as a result.Basically, we're seeing signs the economy may be slowing down, and as certainty grows in the direction the economy is going, the markets are reacting to what is likely ahead. That historically brings mortgage rates down.Why Buyers Should Pay Attention NowBut this isn’t just about one day of headlines or one report. It’s about what the drop means for you.This recent change saves you money when you buy a home. The chart below shows you an example of what a monthly mortgage payment (principal and interest) would be at 7% (where mortgage rates were in May) versus where rates roughly are now:Compared to just 4 months ago, your future monthly payment would be almost $200 less per month. That’s close to $2,400 a year in savings.How Long Will It Last?That really depends on where the economy and inflation go from here. Rates could drop lower, or they could inch up slightly. So, make sure you’re connected with a good agent and trusted lender. They’ll keep a close eye on inflation indicators, job market updates, and reactions to upcoming Fed policy to gauge where mortgage rates may go from here.But for now, focus on this. While no one can say for sure where rates are headed, the fact that rates broke out of their months-long rut is a good thing. If you’ve been feeling stuck, this could make the start of a new chapter. As Diana Olick, Senior Real Estate and Climate Correspondent at CNBC, says:“Rates are finally breaking out of the high 6% range, where they’ve been stuck for months.” And that’s gives you more reason to hope than you've had in quite some time.Bottom LineThis is the shift you’ve been waiting for.Mortgage rates just saw their biggest decline in over a year. And if rates stay near this level, it could make a home you couldn’t afford just a few months ago feel possible again.What would today’s rates save you on your future monthly payment? Let’s connect so you can find out.  http://coldwellbankersunvalley.com/blog/147/10802/mortgage-rates-just-saw-their-biggest-drop-in-a-year/ Thu, 11 Sep 2025 12:22:15 -0700  Believe it or not, there are clear signs buyer interest is heating up again.Let’s talk about what’s really going on behind the scenes, and why the housing market might not be as quiet out there as it seems. Buyers Are Looking, and Search Trends Prove ItOne of the clearest ways to measure what people are thinking about is to look at what they’re searching for online. And according to Google Trends, searches for phrases like “home for sale” have been climbing steadily this year.The graph below shows an index of two common homebuyer search phrases and how popular they were on Google over the past two years. The higher the line goes, the more popular that phrase was. A 100 on the graph shows the most popular time for each phrase:Here’s what really stands out in this data. Both phrases have been trending up overall this year, and they hit a recent high in mid-July. That’s a pretty strong sign that curiosity (and maybe even interest) in buying a home is improving.That kind of momentum means something. Despite high mortgage rates and home prices, buyers haven’t given up. They're still watching the market. They’re still browsing. And many are just waiting for the right opportunity to act. Maybe your house is exactly what they’re looking for. But you’ll never know if it’s not listed yet.Now, this doesn’t mean demand is going to surge like it did during the pandemic. It just means some buyers are deciding they can’t wait any longer. And those are exactly the kind of buyers you want. Motivated. Eager. Ready to move when the right house comes along.So, if you’re holding off on selling because you’re not sure if the demand is there, this data suggests it might be time to rethink your plans. Because while it’s not 2021-level demand, it doesn’t need to be. You don’t need ten offers to sell your home. You just need the right buyer.And that buyer may be searching for a house like yours right now.Bottom LineIf you’ve been thinking, “I’ll sell once buyers come back,” you might want to take another look. Online search trends show they’re already interested.What would make you feel confident putting your house on the market this year? Let’s connect to talk through it.  http://coldwellbankersunvalley.com/blog/147/10799/online-home-buying-search-terms-recently-hit-2-year-high/ Wed, 13 Aug 2025 01:45:55 -0700