Buyer Bright Spot: More Homes on the Market | Scott Lehr PA | The Listing Team
Buyer Bright Spot: There Are More Homes on the Market
Buyer Bright Spot: There Are More Homes on the Market
The past few years have been challenging for homebuyers, especially with higher home prices and mortgage rates. And if you’re trying to buy a home, it’s easy to worry you won’t be able to find something in your budget.
But here’s what you need to know. The number of homes for sale has grown a whole lot lately and that’s true for both existing (previously lived-in) and newly built homes. Here’s a look at those two bright spots for buyers right now and why they may make it a bit easier to find the home you’re been looking for.
1. There Are 22% More Existing Homes for Sale
Data from Realtor.com says the number of existing homes for sale improved by an impressive 22% in 2024. And experts say your pool of options is expected to get even better this year. Forecasts show inventory is projected to grow another 11-15% by the end of this year (see graph below):
Here’s why this is so good for your search. If you haven’t seen a house with all the features you need, just know that, as the number of homes for sale grows, you’ll have more options to choose from. That means a better chance of finding a home that checks all your boxes. As Ralph McLaughlin, Senior Economist at Realtor.com,says:
“It could be a particularly good time to get out into the market . . . you’re going to have more choice. And that’s not something that buyers have really had much over the past several years.”
2. There Are More Newly Built Homes on the Market
According to data from the Census and the National Association ofRealtors (NAR), 31.1%, or roughly 1 in 3, homes on the market right now are newly built homes. That’s more than the norm (see charts below). But don’t worry, that’s not because builders are overdoing it – it’s just that they’re trying to catch up after years of underbuilding.
And the best part is, since builders have been focusing on smaller homes with lower price points, you may actually find out new builds are less expensive than you’d expect. So, while a lot of people write off new construction because it’s easy to assume the costs are way higher, lately, that price gap isn’t as big as you’d think. As CNET says:
“If you live in an area where there’s a lot of new construction happening . . . you might be able to purchase a new house for a price similar to or even less than a pre-owned one.”
If you haven’t been able to find a home that’s in your budget, it’s time to ask your agent about new builds. If you don’t, you may have been cutting your pool of options by about a third.
Bottom Line
More choices could be the key to unlocking your homebuying goals in 2025. Reach out if you want to see what’s available in and around our area.
What features are you looking for in your next home? Let me know and I’ll put together a list of homes you’d love.
Signs You Are Buying a Home in Good Condition | Scott Lehr PA | The Listing Team
Signs You Are Buying a Home in Good Condition
Buying a home can be exciting and overwhelming, especially for first-time buyers. While location, price, and layout often dominate the decision-making process, understanding the physical condition of the property is equally important.
A home in poor condition can lead to costly repairs and unexpected challenges, turning what should be a dream purchase into a financial burden. Although a professional home inspection is a vital step in the process, learning the signs you are buying a house in good condition will also save time and provide added peace of mind.
A Well-Maintained Exterior
A home’s exterior can reveal much about how well its owners have maintained the property. Look for clean siding or well-kept brickwork, properly functioning gutters, and a roof that appears intact without missing or damaged shingles. Pay attention to the foundation as well; large cracks, uneven spots, or water pooling around the base could be red flags for structural issues.
Properly Functioning Doors and Windows
Doors and windows are critical to a home’s functionality and energy efficiency. Check that doors close smoothly and latch properly without squeaking or sticking. Ensure windows open and shut without resistance and that their seals appear intact. Drafts near doors or windows can indicate poor insulation or needed upgrades, increasing future costs for heating and cooling. High-quality, functional windows and doors improve the home’s energy efficiency and indicate attention to detail in maintenance.
A Garage in Good Condition
If the home has a garage, it is important to assess its condition, as this space often reflects the overall care given to the property. Look for cracks in the garage floor or signs of water damage. Pay close attention to the garage door, ensuring it opens and closes smoothly and doesn’t exhibit unusual noises or resistance. Garage door warning signs for homebuyers might include sagging sections, rusty parts, or a motor that struggles to operate.
Updated Plumbing and Electrical Systems
Check faucets for steady water flow and ensure the water pressure is consistent throughout the home. Look for any signs of leaks under sinks or around water heaters, which could lead to long-term damage. Test light switches and electrical outlets to ensure everything is functioning correctly. An up-to-date circuit breaker panel and properly labeled circuits indicate that the home’s electrical systems are in order.
Clean and Safe Flooring
Inspect the flooring throughout the home to ensure it is in good condition. Hardwood floors should not have large gaps or noticeable warping, while carpets should be free of stains and smells. Tiles should be firmly in place without cracks or chips, and grout lines should appear clean. Damaged flooring can be costly, so identifying issues early on can help you consider whether the home is worth the investment.
By learning to identify the signs you are buying a home in good condition, you will feel more confident in your decision. While no house is perfect, spotting these positive indicators allows you to weigh the pros and cons effectively.
How to Find the Right Kitchen Countertop | Scott Lehr PA | The Listing Team
How to Find the Right Kitchen Countertop
Picking the right kitchen countertop is more important than you might think. Your countertop isn’t just a work surface—it’s a centerpiece that defines your kitchen’s style and functionality. Choosing one that fits your needs, lifestyle, and aesthetic can transform your space into a perfect blend of form and function. Here’s how to find the right kitchen countertop for your home.
Assess Your Needs
Start by thinking about how you use your kitchen daily. Do you cook frequently, or is your kitchen more for show? Busy households with a lot of cooking and kids running around may need something durable and low-maintenance. On the flip side, if your kitchen is more of a design statement, you might lean towards something visually striking, even if it requires more care.
Popular Countertop Materials
Granite is a long-time favorite for good reason. It’s durable, heat-resistant, and comes in various natural patterns. Quartz, unlike granite, is engineered and offers a polished, non-porous finish that’s low-maintenance—perfect for those who prefer stress-free upkeep. Marble, while luxurious and elegant, does require extra care to avoid staining or scratching.
If wood or butcher block fits your rustic aesthetic, keep in mind that it requires regular sealing to avoid water damage. Stainless steel is another sleek option, though it tends to show fingerprints easily.
Budget-Friendly Options
Laminate countertops can be an excellent choice if you’re keeping costs in check. Technological advances have made laminate look much more stylish, mimicking the appearance of pricier materials. Another creative option is ceramic tile, which allows you to create custom patterns while staying within budget.
Durability and Maintenance
Durability isn’t just about how a countertop holds up over the years—it’s also about how much effort you’re willing to put into maintaining it. Natural stone countertops like granite or marble look stunning but require consistent sealing and cleaning to maintain their shine and resist stains. For those who want something easier to clean, quartz is a practical choice.
Avoid neglecting maintenance altogether—dirty or improperly cared-for countertops won’t last as long or look as good. For instance, learn how to clean your natural stone countertops correctly to avoid damage.
Aesthetic Appeal
Your kitchen countertops should reflect your style and complement the rest of the space. Quartz or stainless steel can add a sleek, contemporary vibe for a modern design. Wood or rich-colored granite might be ideal if you prefer a warm and inviting look. Whatever material you go with, take home a sample to see how it fits with your cabinets, backsplash, and lighting. Colors can look different depending on the space’s natural and artificial lighting.
Eco-Friendly Choices
If sustainability matters to you, there are some excellent eco-friendly materials available. Recycled glass countertops deliver a unique look while repurposing materials. Bamboo options are sustainable and renewable, blending well with modern, minimalist decor.
Another option is concrete, which professionals can seal with low-VOC products for a more environmentally conscious choice. Many manufacturers now use green production processes, something worth inquiring about when deciding.
Choosing the perfect kitchen countertop boils down to understanding your needs and priorities. Whether it’s durability, style, sustainability, or cost, what works for someone else may not work for you. Explore your options, compare materials, and carefully weigh the pros and cons. With the right research, you’re just a step away from creating a kitchen you’ll love using and showing off.
Renting vs. Owning in Japan: What Expats Need to Know | Scott Lehr PA | The Listing Team
Renting vs. Owning in Japan: What Expats Need to Know When Moving
When moving to Japan as an expat, one of the first decisions you’ll need to make is whether to rent or own your home. Owning a house in Japan can seem appealing, offering stability and long-term benefits, but renting may be more practical for some. The Japanese real estate market is unique, and there are key factors to consider before you make your choice.
The Appeal of Owning a Home in Japan
Owning in Japan can be a dream for many expats. It offers the freedom to make long-term decisions about your living space and the potential to build equity over time. However, the process of buying a home in Japan is different from what you might expect in other countries. For one, the mortgage process can be more challenging for foreigners. While it is possible to get a mortgage, many lenders prefer applicants who have been living in Japan for several years and can demonstrate financial stability. Additionally, the property itself must meet certain requirements, including earthquake-resistant construction, which is a priority in Japan’s building standards.
Renting in Japan: The Practical Option
For most expats, renting is the more practical option. The rental market in Japan is well-developed, with a variety of options available to suit different needs. Most rental contracts in Japan are for two years, with the option to extend the lease at the end of the term. Rental properties in Japan are often well-maintained and come fully equipped with essential appliances, making them move-in ready. Finding a home in Japan can be relatively easy, with real estate agents offering assistance and guidance. Unlike buying, renting does not require a large upfront financial investment, and you can move without the long-term commitment of owning a property.
Factors to Consider When Renting in Japan
One of the key things to remember when renting in Japan is that the rental process can be strict. Most landlords will require a guarantor, often a Japanese person or an institution that can vouch for you. This is especially common for foreigners who don’t have a solid credit history in Japan. Additionally, you may need to pay various upfront fees, including a deposit, key money (a non-refundable gift to the landlord), and agent fees. These costs can add up quickly but are usually lower than the expenses associated with buying a property.
The Financial Side of Owning in Japan
When considering buying an estate in Japan, you must look closely at the financial side. Japan has high property prices in many urban areas, particularly in Tokyo, Kyoto, and Osaka. These cities are popular among expats, which can increase demand for rental and owned properties. Owning a home means that you will have to cover costs like property taxes, home insurance, and regular maintenance. In addition to these expenses, the process of buying a home in Japan often includes high upfront costs, such as a down payment, registration fees, and agent commissions.
Long-Term Investment
Owning can be a good long-term investment, especially if you plan to live in the country for many years. Japan’s real estate market is generally stable, with moderate price fluctuations. You can work with a real estate agent specializing in expat rentals to find a home in Japan. While the upfront costs may be high, owning a property can be a good way to secure a financial future, especially if property values increase over time. Additionally, Japanese homes tend to retain their value, making them a reasonable investment for those looking to build wealth. However, renting may offer a more practical, flexible solution for many expats.
Understanding the Mortgage Process in Japan
Understanding the mortgage process is crucial for those interested in owning a home in Japan. Japanese banks offer both fixed and variable-rate mortgages, but getting approved for a loan can be difficult if you’re a foreigner without permanent residency status. While it’s not impossible to secure financing, be prepared to offer a larger down payment (usually 20-30% of the property price). The mortgage term can range from 15 to 35 years, depending on the lender and your financial situation. Keep in mind that banks will also assess your ability to repay the loan, which your job stability, income, and credit history can influence.
Maintenance and Responsibility: Renting vs. Owning
When you own a home in Japan, you are fully responsible for maintenance and repairs. This can be a time-consuming and costly commitment. If the roof needs repairs or the plumbing has an issue, you will need to take care of it yourself or hire professionals. This is a major responsibility that many expats may not be prepared for. Renting, however, shifts the responsibility to the landlord, who typically handles maintenance and repairs. This can be a huge relief, especially for those unfamiliar with the intricacies of Japanese construction and home care.
Renting vs. Owning: Flexibility and Stability
One of Japan’s biggest differences between renting and owning is flexibility versus stability. Renting offers flexibility—if you decide to move, it’s much easier to do so without the hassle of selling a property. This can be especially useful if you are uncertain about how long you will stay in Japan or plan to relocate to a different city shortly. On the other hand, owning a home provides more stability. You won’t be subject to rent increases and can permanently change the property as you wish. Ownership might make more sense for those looking to settle in Japan for the long term.
The Cultural Aspect of Owning in Japan
In Japan, owning a home can have cultural significance. It is often seen as a sign of success and permanence. Many Japanese families view owning a home as an important milestone in life, and this perspective can influence how expats are viewed in the local community. On the other hand, renting is also common, especially in large cities where mobility is important. Expats may find that many locals choose to rent due to the flexibility and convenience it offers.
Renting or Owning?
Whether you rent or own in Japan depends largely on your circumstances. Owning in Japan offers stability and the potential for long-term investment, but it comes with significant financial responsibilities and challenges. Renting provides flexibility and fewer upfront costs, making it a practical choice for many expats. Ultimately, the decision comes down to how long you plan to stay in Japan, your financial situation, and your personal preferences.
Explore the pros and cons of renting vs. owning property in Japan for expats to decide what’s best for you.
Time in the Market Beats Timing the Market | Scott Lehr PA | The Listing Team
Time in the Market Beats Trying To Time the Market
Are you torn between whether to buy a home now or wait? Consider this. Forecasts show prices will climb for at least the next 5 years. If you wait, the price of a home will be higher later on. But, if you buy a $400K now, you could gain roughly $83K in equity as prices rise. If you’re able to buy now, this equity is one reason why it’ll be worth it in the long run. Let’s connect if you’re ready to talk through ways we can make it happen.
The Real Benefits of Buying a Home This Year | Scott Lehr PA | The Listing Team
The Real Benefits of Buying a Home This Year
The Real Benefits of Buying a Home This Year
Have you been wondering whether you should keep renting or finally make the leap into homeownership? It’s a big decision, and let’s be real — renting can feel like the easier option, especially if buying a home feels out of reach.
But here’s the thing: a recent report from Bank of America highlights that 70% of prospective buyers fear the long-term consequences of renting, including not building equity and dealing with rising rents.
Maybe you’re feeling that too — concerned about where renting might leave you down the road, but still unsure if you’d even be able to buy right now. The truth is, if you’re able to make the numbers work, buying a home has powerful long-term financial benefits.
Let’s break down why homeownership is worth considering in 2025 and beyond, and how it can help set you up for the future.
Buying Builds Wealth Over Time
Buying a home allows you to turn your monthly housing costs into a long-term investment. That’s because, as shown in data from the Census and the Department of Housing and Urban Development (HUD), home prices tend to increase over time (see graph below):
Rising home prices directly benefit homeowners. That’s because when you own a home, you build equity — meaning your ownership stake in your home grows as you pay down your mortgage and your home’s value appreciates. And that, in turn, makes your net worth grow too.
Maybe that’s why, according to the National Association of Realtors (NAR), 79% of buyers believe owning a home is a good financial investment.
Renting Comes with Rising Costs
Renting may feel more affordable in the short term, especially right now with today’s home prices and mortgage rates. But the reality is, over time, rent almost always goes up too. Take a look at the data and you can see that play out. According to Censusdata, rents have significantly increased over the decades (see graph below):
This means if you decide to rent, you’ll likely face growing expenses each time you renew or sign a new lease – and that’ll happen without building any wealth in return. Plus, those rising costs may make it harder to save up to buy a home down the road.
Renting vs. Buying: The Long-Term Impact
When you own a home, your payments are an investment in your future. Renting, on the other hand, means your money is gone for good — it helps your landlord build equity, not you.
Renting works for those not ready (or able) to buy today. But if you are able to make the numbers work, buying a home builds equity and sets you up for long-term financial success. So, even though renting may seem easier now, it can’t match the benefits of homeownership.
Bottom Line
If you can afford it, take control of your financial future by making homeownership part of your plan. It’s an investment you won’t regret.
Do you want to see what starter homes are available in our market? Let’s connect today to explore your options.
Is Your Lake Home For Sale? Have you decided the time has come to sell your lake home? It’s for sale and you’re wondering where to advertise it? There are many options for advertising when you have a lake home for sale. You can be sure there’ll be plenty of calls since people are interested
If you’re trying to decide whether to buy now or wait until mortgage rates come down, here’s something to think about. Let’s say you buy a $400K house now. Based on home price projections, you could gain roughly $83K in equity over the next 5 years. So, if you’re able to buy now, it’ll be worth it in the long run.
Last year as many as 1 in 3 sellers took their house off the market because it hadn’t sold. If you were one of them, let’s connect to come up with a new strategy.
Last year as many as 1 in 3 sellers took their house off the market because it hadn’t sold. If you were one of them, let’s connect to come up with a new strategy.
Common Challenges of Living in an Apartment Complex
Hello, World!
Living in an apartment complex can offer numerous perks, from cost-effective housing to access to shared amenities. However, it’s not without its share of challenges. Whether you’re a current resident or considering a move, understanding these obstacles can help you better prepare and adapt. Here’s a closer look at some of the most common challenges of living in an apartment and practical strategies for managing them.
Tackling Noise Pollution
One of the most common frustrations in apartment living is unwanted noise. From loud music to footsteps above your ceiling, living among neighbors is a test to your peace and quiet. Thin walls or poorly insulated apartments often amplify these sounds, leaving residents feeling helpless.
To minimize the impact, start by creating an open line of communication with your neighbors. A friendly conversation can often prevent noise issues from escalating. Additionally, explore noise reduction options, such as rugs, soundproofing curtains, or white noise machines. If the noise remains persistent, management may also be able to assist in ensuring compliance with communal noise policies.
Addressing Mail and Security Concerns
Mail-related issues are another common concern for apartment residents, particularly when it comes to package deliveries and potential mail fraud. Without secure mailboxes, sensitive documents and valuable items are at risk.
Make sure your complex provides secure mailboxes to mitigate mail fraud among residents. You can also minimize risk by using trackable delivery services or opting for parcel lockers on-site if your property supports them. For added peace of mind, virtual mailboxes or PO boxes can protect your privacy and ensure safety.
Handling Maintenance Delays
Maintenance delays in large apartment complexes are nothing short of frustrating, and they can impact everything from your comfort to safety in your home. Large complexes often have long repair queues, resulting in slower resolution times. Burst pipes, HVAC failures, or other issues often can’t wait days or even weeks for full resolution.
Ideally, you should clarify maintenance response times before signing a lease and choose buildings with 24/7 repair services. If delays arise, staying proactive and following up with management regularly will ensure your concerns don’t slip through the cracks. Consider handling small tasks yourself if your lease permits.
Balancing Common Areas and Privacy Needs
Access to common spaces, such as gyms, rooftops, or pools, is a great benefit of apartment living, but it also means sharing these areas with others. Overcrowding, lack of cleanliness, and occasional invasions of privacy can sometimes frustrate residents.
To maintain harmony, respect the scheduled hours for amenities and clean up after yourself. Likewise, if there are specific issues with crowding or misconduct, inform management so that they can address it effectively. Your ability to have open conversations about shared spaces ensures everyone can use them respectfully.
While living in an apartment complex comes with challenges, many of these are manageable with the right mindset and proactive steps. By communicating with neighbors, using the resources provided by your property management, and maintaining a balanced approach to shared living, you can thrive in an apartment setting.
