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The loss of a loved one can be an emotionally challenging time, and when real estate assets are involved, the complexity of the probate process can add an additional burden. However, seeking the assistance of a realtor with probate certification can prove to be invaluable for petitioners and administrators tasked with handling the real estate aspects of an estate. In this blog post, we will explore how a realtor's probate certification can help ease the burden and streamline the real estate process during probate. Understanding Probate: Before delving into the benefits of a realtor's probate certification, it's essential to grasp the concept of probate. Probate is the legal process through which a deceased person's assets, including real estate, are distributed and their debts settled. This procedure is overseen by the court and involves several intricate steps, such as validating the will, appointing an executor or administrator, and transferring ownership of assets. The Role of a Realtor with Probate Certification: A realtor with probate certification possesses specialized knowledge and expertise in handling real estate matters within the context of probate. This certification demonstrates their commitment to staying up-to-date with the latest probate laws, regulations, and best practices, allowing them to offer valuable guidance to petitioners and administrators. Here's how they can assist: Property Evaluation: A certified probate realtor can accurately assess the value of the deceased person's real estate assets. By conducting a thorough market analysis and considering various factors such as location, condition, and recent comparable sales, they can provide a reliable estimate of the property's worth. This information is crucial for establishing an accurate estate valuation and making informed decisions during the probate process. Marketing and Exposure: When it comes to selling real estate within probate, a certified realtor can help create effective marketing strategies to attract potential buyers. They have access to various marketing channels, including multiple listing services (MLS), online platforms, and their professional networks. By leveraging these resources, they can maximize exposure for the property, ensuring a wider pool of prospective buyers and potentially higher offers. Compliance with Probate Laws: Probate laws and regulations can be complex and vary from jurisdiction to jurisdiction. A realtor with probate certification is well-versed in these legal intricacies and can guide petitioners and administrators through the necessary steps to comply with local probate requirements. This ensures that all real estate transactions are conducted in accordance with the law, minimizing the risk of disputes or complications in the future. Efficient Negotiation and Closing: Certified probate realtors are skilled negotiators who can represent the best interests of the estate during the sale process. They have experience in dealing with buyers, agents, and attorneys, ensuring that negotiations are conducted smoothly and efficiently. Additionally, they can assist in coordinating necessary paperwork, inspections, appraisals, and other tasks involved in the closing process, saving time and reducing administrative burdens. Professional Network and Resources: Probate realtors often have established relationships with other professionals involved in the probate process, such as estate planning attorneys, appraisers, and title companies. These connections can prove invaluable in providing a comprehensive network of trusted experts who can assist with legal, financial, and administrative aspects related to the real estate transactions. Conclusion: Navigating the real estate process during probate can be overwhelming, but a realtor with probate certification can significantly alleviate the burden. Their specialized knowledge, experience, and commitment to staying informed about probate laws allow them to guide petitioners and administrators through the intricacies of selling or managing real estate within the probate process. By leveraging their expertise, individuals can streamline the probate process, ensuring efficient real estate transactions while preserving the interests of the estate and its beneficiaries. If you find yourself involved in a probate situation, enlisting the services of a certified probate specialist realtor like Tess Marquez is a wise decision that can bring you peace of mind and maximize the value of the probate property.

When it comes to navigating the complex world of probate real estate, having a certified probate specialist realtor by your side like Tess Marquez can make all the difference. Dealing with the legal and emotional aspects of probate can be overwhelming for petitioners and administrators alike. In this blog, we will dig into the crucial role of a certified probate specialist realtor and the invaluable benefits they bring to those involved in the probate process. Understanding Probate Real Estate: Probate real estate refers to properties that are involved in the probate process after the passing of the owner. This can be an intricate and time-consuming procedure, as it requires legal documentation, court approval, and various other complex steps. A certified probate specialist realtor is an expert in handling these types of real estate transactions and acts as a trusted guide throughout the probate journey. The Role of a Certified Probate Specialist Realtor Expertise in Probate Laws and Processes: A certified probate specialist realtor possesses comprehensive knowledge and understanding of probate laws and processes. They are well-versed in the intricacies of local regulations and can ensure that all legal requirements are met during the sale of the property. By leveraging their expertise, they help streamline the probate process, minimizing potential delays or complications. Property Evaluation and Market Analysis: One of the key roles of a certified probate specialist realtor is to assess the value of the probate property accurately. They conduct thorough property evaluations and comprehensive market analyses, considering factors such as location, condition, and current market trends. This enables them to determine a fair and competitive listing price that benefits both the petitioner and potential buyers. Effective Marketing and Property Exposure: Certified probate specialist realtors understand the importance of effective marketing in attracting potential buyers. They utilize their extensive networks, online platforms, and traditional marketing strategies to maximize the exposure of the probate property. By implementing targeted marketing campaigns, they can ensure that the property receives the attention it deserves, increasing the likelihood of a successful sale. Negotiation and Documentation Support: Negotiating the sale of a probate property requires a delicate touch, as it involves multiple parties with different interests. A certified probate specialist realtor acts as a skilled negotiator, advocating for the petitioner or administrator's best interests. They help navigate the negotiation process, ensuring fair and favorable terms for all parties involved. Additionally, they provide valuable assistance in preparing the necessary documentation and contracts, ensuring compliance with probate requirements. Sensitivity and Support: Dealing with the loss of a loved one can be an emotionally challenging time. A certified probate specialist realtor understands the sensitivity of the situation and provides compassionate support to petitioners and administrators. They offer a guiding hand throughout the process, patiently answering questions, addressing concerns, and providing reassurance. This personalized approach helps alleviate stress and allows individuals to focus on other important aspects of the probate process. Conclusion: In the intricate world of probate real estate, the role of a certified probate specialist realtor cannot be overstated. From their expertise in probate laws and processes to their ability to evaluate properties accurately and market them effectively, they provide invaluable support to petitioners and administrators. By navigating the complexities of the probate process, a certified probate specialist realtor ensures a smoother and more successful real estate transaction, all while offering empathy and understanding during a challenging time. If you find yourself involved in a probate situation, enlisting the services of a certified probate specialist realtor like Tess Marquez is a wise decision that can bring you peace of mind and maximize the value of the probate property.

In the fast-paced and competitive real estate market, buying or selling a home can be a daunting task. That's why it's crucial for homeowners to partner with a reliable real estate agent who can provide the professional guidance and support needed throughout the process. In this blog post, we will explore the reasons why homeowners should consider working with a trusted realtor and the benefits they bring to the table. Benefits of Hiring a Real Estate Agent The Power of Local Market Knowledge A reliable real estate agent possesses invaluable local market knowledge that can greatly benefit homeowners. They have their finger on the pulse of the real estate market, keeping up with trends, fluctuations, and changes in the area. This expertise allows them to accurately assess the value of a property, ensuring homeowners receive the best possible deal. Guidance through the Buying or Selling Process Navigating the complex process of buying or selling a home can be overwhelming for homeowners, especially those who are new to the real estate market. A reliable real estate agent acts as a trusted guide throughout the entire process, offering invaluable advice and support. Access to a Wider Range of Properties Reliable real estate agents have access to a vast network of listings, including both public and exclusive offerings. This means homeowners working with an agent will have a wider range of properties to choose from, increasing their chances of finding the perfect home or attracting potential buyers. Real estate agents are skilled at understanding their clients' preferences and requirements and can efficiently narrow down the options to save time and effort. Effective Marketing and Negotiation Strategies When it comes to selling a home, marketing and negotiation play a crucial role in securing the best possible deal. Reliable real estate agents have the knowledge and experience to create effective marketing strategies that highlight the unique features and selling points of a property. Additionally, real estate agents are skilled negotiators who can advocate for homeowners' interests during price negotiations. They possess excellent communication and persuasion skills, ensuring that homeowners get the best possible outcome. Peace of Mind and Time Saving Partnering with a reliable real estate agent provides homeowners with peace of mind throughout the entire process. They can rely on their agent's expertise, knowing that their best interests are being represented. This alleviates stress and allows homeowners to focus on other important aspects of their lives. Moreover, working with an agent saves homeowners valuable time. Agents handle time-consuming tasks, such as researching listings, scheduling showings, and coordinating with other parties involved. Homeowners can trust their agent to handle the paperwork, legalities, and deadlines, ensuring a smooth and efficient transaction. What to Look for in a Realtor When searching for a realtor, it's essential to find someone who is reliable, trustworthy, and experienced. Here are key factors to consider when looking for a realtor: Experience and Expertise Look for a realtor with a solid track record and a significant amount of experience in the real estate industry. An experienced realtor will have in-depth knowledge of the local market, trends, and regulations. They will be able to provide valuable insights and guidance throughout the buying or selling process. Professional Credentials and Licenses Ensure that the realtor you choose is licensed and has the necessary credentials to practice real estate in your area. This ensures they adhere to professional standards and ethical practices. Local Market Knowledge A good realtor should have a deep understanding of the local market. They should be familiar with neighborhood dynamics, school districts, amenities, and other factors that may affect property values. Local market knowledge enables the realtor to provide accurate pricing recommendations and identify opportunities or challenges in the market. Strong Communication Skills Effective communication is crucial in any real estate transaction. Look for a realtor who is responsive, proactive, and attentive to your needs. They should be able to clearly convey information, negotiate on your behalf, and keep you updated throughout the process. Trustworthiness and Integrity Choose a realtor who operates with transparency and integrity. Trust is essential when dealing with significant financial transactions. Read reviews, ask for referrals, and research their reputation to ensure they have a solid reputation for honesty and ethical practices. Negotiation Skills A skilled negotiator can make a significant difference in the outcome of a real estate transaction. Look for a realtor who has strong negotiation skills and a track record of achieving favorable results for their clients. They should be able to advocate for your interests and secure the best possible deal. Compatibility and Personal Connection It's important to work with a realtor you feel comfortable with and can communicate effectively. Look for someone who listens to your needs, understands your preferences, and respects your decisions. A good rapport with your realtor can make the process more enjoyable and less stressful. Availability and Accessibility Consider the availability of the realtor and their ability to accommodate your schedule. Real estate transactions often involve time-sensitive tasks, so it's important to choose a realtor who can be readily available when needed. Marketing and Technology Skills In today's digital age, effective marketing and technological proficiency are essential. A realtor who can leverage online platforms, social media, and digital marketing strategies can maximize exposure for your property if you're selling or provide access to a broader range of listings if you're buying. Client Testimonials and References Ask for client testimonials or references from previous clients. This will give you insights into their past performance, customer satisfaction, and overall reputation. Remember, choosing the right realtor can significantly impact your real estate experience. Take the time to research, interview multiple candidates, and consider these factors before making your decision. Start Your Real Estate Journey With Us! Are you ready to embark on your real estate journey with confidence? Look no further than Tess Marquez, your trusted real estate agent! With her extensive experience, local market knowledge, and commitment to client satisfaction, Tess is the perfect partner to help you achieve your real estate goals. Don't miss out on the opportunity to work with a dedicated professional who will guide you every step of the way. Contact Tess today at (626) 712-5156 and experience the difference of having an expert by your side. Your dream home is just a call away!

If you’re planning to buy a home, an inspection is an important step in the process. It assesses the condition of the home before you finalize the transaction. It’s also a different step in the process from an appraisal, which is a professional evaluation of the market value of the home you’d like to buy. In most cases, an appraisal is ordered by the lender to confirm or verify the value of the home prior to lending a buyer money for the purchase. Here’s the breakdown of each one and why they’re both important when buying a home. Home Inspection Here’s the key difference between an inspection and an appraisal. Bankrate says: “In short, while an appraisal helps you understand a home’s value, inspections help you understand a home’s condition.” The home inspection is a way to determine the current state, safety, and condition of the home before you finalize the sale. If anything is questionable in the inspection process – like the age of the roof, the state of the HVAC system, or just about anything else – you as a buyer have the option to discuss and negotiate any potential issues or repairs with the seller before the transaction is final. Your real estate agent is a key expert to help you through this part of the process. Home Appraisal The National Association of Realtors (NAR) explains: “A home purchase is typically the largest investment someone will make. Protect yourself by getting your investment appraised! An appraiser will observe the property, analyze the data, and report their findings to their client. For the typical home purchase transaction, the lender usually orders the appraisal to assist in the lender’s decision to provide funds for a mortgage.” When you apply for a mortgage, an unbiased appraisal (which is required by the lender) is the best way to confirm the value of the home based on the sale price. Regardless of what you’re willing to pay for a house, if you’ll be using a mortgage to fund your purchase, the appraisal will help make sure the bank doesn’t loan you more than what the home is worth. This is especially critical in today’s sellers’ market where low inventory is driving an increase in bidding wars, which can push home prices upward. When sellers are in a strong position like this, they tend to believe they can set whatever price they want for their house under the assumption that competing buyers will be willing to pay more. However, the lender will only allow the buyer to borrow based on the value of the home. This is what helps keep home prices in check. If there’s ever any confusion or discrepancy between the appraisal and the sale price, your trusted real estate professional will help you navigate any additional negotiations in the buying process. Bottom Line The inspection and the appraisal are critical steps when buying a home, and you don’t need to manage them by yourself. Let’s connect today so you have the expert guidance you need to navigate the entire homebuying process.

Owning a home means having a place that’s solely your own and provides the space, features, and location you and your loved ones need. But what happens when your needs change? If this hits home for you, it may be time to make a move. According to the latest Home Buyers and Sellers Generational Trends Report from the National Association of Realtors (NAR), the average person has lived in their current house for ten years. If you’ve been in your home for a while, think about how much in your life has changed since you moved in. Even if you thought it would be your forever home when you bought it, it doesn’t have to be. Work with a local real estate agent to explore all your options in today’s market before settling for your current home. That’s actually what a lot of homeowners are doing right now. A recent survey from Realtor.com finds that, of people who are considering selling in 2023, one in three are thinking about moving because their home no longer meets their needs. And according to the same report from NAR, that’s consistent with this year’s top reasons for selling, which include: Want to move closer to friends or family Moving due to retirement Home is too small or too large Change in family situation Job relocation If things in your life have changed, it may be time to make a move. And there’s good news: it’s still a great time to sell. Here’s why. We’re in a strong sellers’ market. That means homes listed at market value and in good condition are getting attention from buyers and selling quickly. Lean on your expert real estate advisor for the best advice on getting your house ready to sell. Your equity can power your next move. There’s a good chance you have a significant amount of equity right now thanks to record levels of price appreciation in recent years. When you sell, you can use that equity to help afford your next home. In fact, NAR’s report from above shows 38% of recent buyers used the money from the sale of their previous home to cover the down payment on their next one. Work with a local real estate agent to learn how much equity you have and what you can do with it in today’s housing market. Bottom Line If your home no longer meets your needs, consider selling it so you can find your dream home. Let’s connect so you can learn about your options.

If you’re buying a home this spring, today’s housing market can feel like a challenge. With so few homes on the market right now, plus higher mortgage rates, it’s essential to have a firm grasp on your homebuying budget. You’ll also need a sense of determination to find the right house and act quickly when you go to put in an offer. One thing you can do to help you prepare is to get pre-approved. To understand why it’s such an important step, you need to know what pre-approval is. As part of the process, a lender looks at your finances to determine what they’d be willing to loan you. From there, your lender will give you a pre-approval letter to help you understand how much money you can borrow. Freddie Mac explains it like this: “A pre-approval is an indication from your lender that they are willing to lend you a certain amount of money to buy your future home. . . . Keep in mind that the loan amount in the pre-approval letter is the lender’s maximum offer. Ultimately, you should only borrow an amount you are comfortable repaying.” Basically, pre-approval gives you critical information about the homebuying process that’ll help you understand how much you may be able to borrow so you have a stronger grasp of your options. And with higher mortgage rates impacting affordability for many buyers today, a solid understanding of your numbers is even more important. Pre-Approval Helps Show You’re a Serious Buyer That’s not the only thing pre-approval can do. Another added benefit is it can help a seller feel more confident in your offer because it shows you’re serious about buying their house. And, with sellers seeing a slight increase in the number of offers again this spring, making a strong offer when you find the perfect house is key. As a recent article from the Wall Street Journal (WSJ) says: “If you plan to use a mortgage for your home purchase, preapproval should be among the first steps in your search process. Not only can getting preapproved help you zero in on the right price range, but it can give you a leg up on other buyers, too.” Bottom Line Getting pre-approved is an important first step when you’re buying a home. It lets you know what you can borrow for your loan and shows sellers you’re serious. Connect with a local real estate professional and a trusted lender so you have the tools you need to purchase a home in today’s market.

The housing market’s been going through a lot of change lately, and there’s been uncertainty surrounding what will happen this spring. You may be wondering if more homes will go on the market, what’s next with home prices and mortgage rates, or what the best advice is for someone in your position right now. Here’s what industry experts are saying right now about the spring housing market and what it means for you: Selma Hepp, Chief Economist, CoreLogic: “We see more competition among buyers . . . Housing supply also tends to grow during the spring months. And this is also the time of year when relatively more migration happens, as people graduate and move elsewhere looking for jobs.” Greg McBride, Chief Financial Analyst, Bankrate: “I don’t expect big moves in prices in the span of a month, but like the flower buds of spring, the housing market is showing signs of improvement. A pick up in activity with inventory still low does bode well for home prices.” Rick Sharga, Founder and CEO, CJ Patrick Company: “If you can find a home you love and can afford at today’s prices, don’t wait. Home prices in most of the country are unlikely to crash, and mortgage rates will only come down very gradually if they decline at all this year.” Jeff Tucker, Senior Economist, Zillow: “The market is still much friendlier this spring for buyers who can overcome affordability hurdles, but buyers are going to see more competition than they might expect because there are not many homes on the market to go around. New listings are increasing, which they almost always do this time of year, but not nearly as quickly as usual.” Bottom Line If you’re thinking about selling your house, this spring’s a great time to do so while inventory is still so low. And if you’re in a good position to buy, lean on your team of expert advisors for the best advice. Whatever your plans, let’s connect to make sure you’re able to navigate the spring housing market with confidence.

Some Highlights With so few homes on the market right now, widening the scope of your search to include nearby areas could help you find more options in your budget. You can also work with a trusted lender to consider alternative financing options and search for down payment assistance. If you’ve been searching for a home but are concerned about rising costs, make sure you have a team of trusted real estate professionals for expert advice.

You’ve likely seen headlines about the number of foreclosures climbing in today’s housing market. That may leave you with a few questions, especially if you’re thinking about buying a house. Understanding what they really mean is mission-critical if you want to know the truth about what’s happening today. According to a recent report from ATTOM, a property data provider, foreclosure filings are up 6% compared to the previous quarter and 22% since one year ago. As media headlines call attention to this increase, reporting on just the number could actually generate worry and may even make you think twice about buying a home for fear that prices could crash. The reality is, while increasing, the data shows a foreclosure crisis is not where the market is headed. Let’s look at the latest information with context so we can see how this compares to previous years. It Isn’t the Dramatic Increase Headlines Would Have You Believe In recent years, the number of foreclosures has been down to record lows. That’s because, in 2020 and 2021, the forbearance program and other relief options for homeowners helped millions of homeowners stay in their homes, allowing them to get back on their feet during a very challenging period. And with home values rising at the same time, many homeowners who may have found themselves facing foreclosure under other circumstances were able to leverage their equity and sell their houses rather than face foreclosure. Moving forward, equity will continue to be a factor that can help keep people from going into foreclosure. As the government’s moratorium came to an end, there was an expected rise in foreclosures. But just because foreclosures are up doesn’t mean the housing market is in trouble. As Clare Trapasso, Executive News Editor at Realtor.com, says: “There’s no reason to panic, at least not yet. Foreclosure filings began ticking up . . . after the federal foreclosure moratorium ended. The moratorium was enacted in the early days of COVID-19, when millions of Americans lost their jobs, to prevent a tsunami of homeowners losing their properties. So some of these proceedings would have taken place during the pandemic but got delayed due to the moratorium. This is a bit of a catch-up.” Basically, there’s not a sudden flood of foreclosures coming. Instead, some of the increase is due to the delayed activity explained above while more is from economic conditions. As Rob Barber, CEO of ATTOM, explains: “This unfortunate trend can be attributed to a variety of factors, such as rising unemployment rates, foreclosure filings making their way through the pipeline after two years of government intervention, and other ongoing economic challenges. However, with many homeowners still having significant home equity, that may help in keeping increased levels of foreclosure activity at bay.” To further paint the picture of just how different the situation is now compared to the housing crash, take a look at the graph below. It shows foreclosure activity has been lower since the crash by looking at properties with a foreclosure filing going all the way back to 2005. While foreclosures are climbing, it’s clear foreclosure activity now is nothing like it was during the housing crisis. In addition to all of the factors mentioned above, that’s also largely because buyers today are more qualified and less likely to default on their loans. Today, foreclosures are far below the record-high number that was reported when the housing market crashed. Bottom Line Right now, putting the data into context is more important than ever. While the housing market is experiencing an expected rise in foreclosures, it’s nowhere near the crisis levels seen when the housing bubble burst, and that won’t lead to a crash in home prices.

There’s been a lot of focus on higher mortgage rates and how they’re creating affordability challenges for today’s homebuyers. It’s true that rates climbed dramatically since the record-low we saw during the pandemic. But home affordability is based on more than just mortgage rates – it’s determined by a combination of mortgage rates, home prices, and wages. Considering how each one of these factors is changing gives you the full picture of home affordability today. Here’s the latest. 1. Mortgage Rates While mortgage rates are higher than they were a year ago, they’ve hovered primarily between 6% and 7% for nearly eight months now (see graph below): As the graph shows, mortgage rates have experienced some volatility during that time. And even a small change in mortgage rates impacts your purchasing power. That’s why it’s so important to lean on your team of real estate professionals for expert advice to stay up to date on what’s happening in the market. While it’s hard to project where mortgage rates will go from here, many experts agree they’ll likely continue to remain around 6%-7% in the immediate future. 2. Home Prices Over the past few years, home prices appreciated rapidly as the record-low mortgage rates we saw during the pandemic led to a surge in buyer demand. The heightened buyer demand happened while the supply of homes for sale was at record lows, and that imbalance put upward pressure on home prices. However, today’s higher mortgage rates have slowed down price appreciation. And, the truth is, home price appreciation varies by market. Some areas are seeing slight declines while others have prices that are climbing. As Selma Hepp, Chief Economist at CoreLogic, explains: “The divergence in home price changes across the U.S. reflects a tale of two housing markets. Declines in the West are due to the tech industry slowdown and a severe lack of affordability after decades of undersupply. The consistent gains in the Southeast and South reflect strong job markets, in-migration patterns and relative affordability due to new home construction.” To find out what’s happening with prices in your local market, reach out to a trusted real estate agent. 3. Wages The most positive factor in affordability right now is rising income. The graph below uses data from the Bureau of Labor Statistics (BLS) to show how wages have grown over time: Higher wages improve affordability because they reduce the percentage of your income it takes to pay your mortgage since you don’t have to put as much of your paycheck toward your monthly housing cost. Home affordability comes down to a combination of rates, prices, and wages. If you have questions or want to learn more, reach out to a real estate professional who can explain what’s happening locally and how these factors work together. Bottom Line If you’re planning to buy a home, knowing the key factors that impact affordability is important so you can make an informed decision. To stay up to date on the latest on each, let’s connect today.

The biggest challenge in the housing market right now, and likely for years to come, is how few homes there are for sale compared to the number of people who want to buy. That’s why, if you’re thinking about selling your house, this is a great time to do so. Your house would be welcome in a market that has fewer homes for sale than it did in the years leading up to the pandemic. According to the latest Monthly Housing Market Trends Report from realtor.com: “There were 65.5% more homes for sale in January compared to the same time in 2022. This means that there were 248,000 more homes available to buy this past month compared to one year ago. While the number of homes for sale is increasing, it is still 43.2% lower than it was before the pandemic in 2017 to 2019. This means that there are still fewer homes available to buy on a typical day than there were a few years ago.” The graph below shows how today’s inventory of homes for sale compares to recent years: What Does This Mean for You? Fewer homes for sale means buyers have fewer choices than they did prior to the pandemic—and that frustration is leading some to give up on the homebuying process altogether. But with mortgage rates sitting lower than they were at the peak last fall, more buyers are willing to come back into the process—they just need to find homes to buy. This is welcome activity for the spring market, especially if you’re thinking of selling your house. With a renewed interest in buying a home for many, the New York Times (NYT) reports: “Home buyers are edging back into the market after being sidelined last year . . .” So, if you want to take advantage of a sweet spot in the market, this spring could be your shot. Bottom Line The housing market needs more homes for sale to meet the demand of today’s buyers. If you’ve thought about selling, now’s the time for us to connect and get ready for you to make a move this spring.

As we celebrate Black History Month, we reflect on the past and present experiences of Black Americans. This includes the path toward investing in a home of their own. And while equitable access to housing has come a long way, homeownership can be a steeper climb for households of color. It’s an important experience to talk about, along with how it can make all the difference for diverse homebuyers to work with the right real estate experts. We know it’s more challenging for some to buy a home because there’s still a measurable gap between the overall average U.S. homeownership rate and that of non-white groups. Today, the lowest homeownership rate persists in the Black community (see graph below): Homeownership is an essential piece for building household wealth that can be passed down to future generations. However, there are obstacles in the homebuying process that can negatively impact certain groups. This can delay or prevent many from achieving homeownership, challenging their ability to benefit from everything owning a home offers. A recent report from the National Association of Realtors (NAR) explains: “. . . not all [households] have the same opportunities to homeownership, with many of them facing more constraints in their effort to achieve the American Dream. . . . Given that homeownership contributes to wealth accumulation and the homeownership rate is lower in minority groups, data shows that the net worth for these groups is also lower.” However, with the right support and resources, there are solutions if you’re part of this community and planning to buy a home. Jacob Channel, Senior Economist at LendingTree, shares: “The problem does exist. We have data that back that up. But there are solutions, and Black homebuyers shouldn’t lose faith that they’ll never be able to become homeowners.” That’s why it’s so important for members of diverse groups to have the right team of experts on their sides throughout the homebuying process. These professionals aren’t only experienced advisors who understand the local market and give the best advice. They’re also compassionate allies who will advocate for your best interests every step of the way. Bottom Line Access to housing improves every day, but there are still equity challenges that some buyers face. Let’s connect to make sure you have an advocate on your side as you walk the path to homeownership.