The real estate market never stops changing–and sometimes, it can be hard to keep up. Information is more accessible than ever, and many turn to Google for answers. So, what are people asking? In this blog, we’ll explore the most googled real estate questions of the year.
1. Is 2024 a Good Time to Buy a Home?
This question is likely to top the list for many prospective buyers. After all, timing can play a significant role in determining the affordability of a home and the potential for future appreciation.
Market conditions vary depending on where you're looking and the type of real estate you’re looking for. If you’re considering a purchase, it’s important to weigh the recent interest rate cut by The Federal Reserve as well as housing inventory options.
The bottom line? If you're financially ready, buying in 2024 could still be a smart move, especially if you find a property that fits your long-term goals. Partner with a knowledgeable real estate agent who can help you navigate market conditions and negotiate the best price.
2. Will Home Prices Continue to Rise?
Another often googled real estate question for 2024 is whether home prices will keep increasing. Many prospective buyers want to know if they should wait for prices to drop, while sellers are wondering if now is the right time to list.
The answer is nuanced. While the rapid home price appreciation seen in 2020-2021 has cooled, prices aren’t expected to plummet. In many markets, prices are stabilizing or seeing modest gains. The housing inventory continues to influence values, as there simply aren’t enough homes to meet demand in many areas. However, certain areas may experience slower growth or even slight price corrections, making it essential for buyers and sellers to stay informed about local trends.
3. What Is the Best Way to Find a Real Estate Agent?
With so much information available online, people often ask what the best method is to find a real estate agent they can trust. In 2024, this question is more relevant than ever, given the number of agents to choose from and the complexities of today’s market.
So, how do you find the right one? The most effective approach remains word of mouth—ask family, friends, or colleagues for recommendations. However, online reviews and real estate websites also play an important role.
Another tip: Make sure to interview multiple agents. Ask about their experience, market knowledge, and communication style to determine if they're a good fit for your needs. A great agent will be proactive, understand the local market, and have the negotiation skills to secure the best deal for you.
4. How Much Do I Need for a Down Payment?
Down payment inquiries are another common theme. Many people want to know how much they should save for their first or next home.
Traditionally, buyers were encouraged to put down 20% of the purchase price. However, in 2024, it’s possible to buy a home with less than that—sometimes as low as 3% or 5% down, depending on the loan program.
That said, putting more money down has its benefits, including avoiding private mortgage insurance (PMI) and potentially securing a lower interest rate.
It's essential to talk to a mortgage lender early in the process to understand what options are available based on your financial situation. Buyers should also work with their real estate agent to find homes within their budget and help strategize offers that align with their financing.
5. What Are Closing Costs and How Much Should I Expect to Pay?
For both buyers and sellers, closing costs are another hot topic. These costs, which cover things like lender fees, title insurance, and attorney fees, can add up and are often underestimated.
A real estate agent can help clients anticipate these costs and negotiate to possibly reduce them. For example, in some cases, the buyer might be able to negotiate for the seller to cover a portion of the closing costs, making the deal more attractive.
6. How Long Does It Take to Sell a Home in 2024?
Sellers are eager to know how long it will take to sell their home, and it’s no surprise that this remains one of the most googled real estate questions 2024.
The timeframe for selling can vary widely based on the location, price, and condition of the home. In 2024, homes that are well-priced and in good condition can still move quickly, especially if they’re in high-demand areas. However, some properties might sit on the market longer due to higher interest rates and more cautious buyers.
The best way to ensure a quicker sale? Work with a real estate agent who knows how to market the home effectively, price it competitively, and negotiate with buyers. Homes that are staged well and professionally photographed tend to attract more attention and sell faster.
Partner with The Rebecca Francis Team
Whether you're looking to buy or sell in 2024, the right guidance is key to making the best decisions. The Rebecca Francis Team offers extensive local expertise and personalized service to help clients achieve their real estate goals. From answering your questions to negotiating the best deal, they are ready to support you every step of the way. Looking for more insights or ready to get started? Reach out to The Rebecca Francis Team today.
