Americans Choose Real Estate as the Best Investment [INFOGRAPHIC]

Americans Choose Real Estate as the Best Investment [INFOGRAPHIC] | Simplifying The Market

Americans Choose Real Estate as the Best Investment [INFOGRAPHIC] | Simplifying The Market

Some Highlights

  • According to a Gallup poll, real estate has been rated the best long-term investment for eight years in a row.
  • Real estate tops the list because you’re not just buying a place to call home – you’re investing in your future. Real estate is typically considered a stable and secure asset that can grow in value over time.
  • Let’s connect today if you’re ready to make real estate your best investment this year.

Travel Back To The ’80s At Ready Player One, A Retro-Themed Adult Arcade In Michigan

To time travel in Detroit, all you need is a few tokens. Ready Player One is an arcade bar packed with throwback games that bring back the fun of the ’80s and ’90s. The bar’s fun décor and themed drinks ensure a stop here is a big win. Here’s what you need to know to get ready for a trip to Michigan’s Ready Player One.

Ready Player One is open Wednesday-Sunday and is open late. See the current hours and other details here. If analog games are more your thing, you might want to grab a seat and play one of the fun board games at the Card Table.

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An Easy But Gorgeous Hike, AuSable River Trail Leads To A Little-Known River In Michigan

There was a time when much of Michigan was covered by gorgeous and wild virgin timber. While the 1800s logging era transformed the state’s landscape, there are still some places that appear much as they did before Europeans arrived. One of those spots is Hartwick Pines State Park. The park contains some remnant old-growth forest and a hike through the park will take you across the serene AuSable River. Here’s why this is a hike you need to experience.

With the exception of one steep climb the trail is fairly flat – it’s a relatively easy hike that can be completed in about an hour. Because the trail is in a state park, you’ll need a Michigan Recreation passport to get to the trail. Learn more about the park here. If you love easy but scenic hikes, here are some more trails that won’t disappoint.

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Buyers Want To Know: Why Is Housing Supply Still So Low?

Buyers Want To Know: Why Is Housing Supply Still So Low? | Simplifying The Market

One key question that’s top of mind for homebuyers this year is: why is it so hard to find a house to buy? The truth is, we’re in the ultimate sellers’ market, so real estate is ultra-competitive for buyers right now. The number of buyers searching for a home greatly outweighs how many homes are available for sale.

While low inventory in the housing market isn’t new, it’s a challenge that continues to grow over time. Here’s a look at two reasons why today’s housing supply is low and what that means for you.

1. New Home Construction Fell Behind for Several Years

The graph below shows new home construction for single-family homes over the past five decades, including the long-term average for housing units completed. Builders exceeded that average during the housing bubble (shown in red on the graph). The result was an oversupply of homes on the market, so home values declined. That was one of the factors that led to the housing crash back in 2008.

Since then, the level of new home construction has fallen off. For the last 13 straight years, builders haven’t been able to construct enough homes to meet the historical average (as illustrated in green on the graph). That underbuilding left us with a multi-year inventory deficit going into the pandemic.

Buyers Want To Know: Why Is Housing Supply Still So Low? | Simplifying The Market

2. The Pandemic’s Impact on the Housing Market

Then, when the pandemic hit, it fueled a renewed appreciation and focus on the meaning of home. Having a safe space to live, work, school, and exercise became even more important for Americans throughout the country. So, as mortgage rates dropped to at or below 3%, buyers eagerly entered the market looking to capitalize on those low rates to secure a home that would fulfill their changing needs. At the same time, sellers hesitated to put their houses on the market as concerns about the pandemic mounted.

The result? The number of homes available for sale dropped even further. A recent article from realtor.com explains:

Last month, the number of home listings dropped 26.8% compared with the same time a year earlier. This meant there were about 177,000 fewer homes listed in what’s already typically a slower month due to the holidays and colder weather. . . .”

What Does All of This Mean for You?

For a buyer, low inventory can be a challenge. You want to find the home of your dreams, and you don’t want to settle. But what if there just aren’t that many homes to choose from?

There is some good news. Experts are projecting more homes will soon become available thanks to sellers re-entering the market. Danielle Hale, Chief Economist at realtor.com, shares this hope, but offers perspective:

We expect that we’ll start to see a turnaround and inventory will stabilize and start to go up a little bit in 2022. . . . But that means we’re looking at inventory levels of roughly half of what we saw before the pandemic. For buyers, the market is likely to continue to move fast. If you see a home you like, you want to jump on it right away.

Basically, inventory is still low, even though more homes are coming. But you shouldn’t put your plans on hold because you’re waiting for those additional houses to hit the market.  Instead, stick with your search and persevere through today’s low inventory. You can find your next home if you’re patient and focused.

Remember your goals and why finding a home is so important. Those things should be the driving force behind your search. Share them with your agent and be clear about your priorities. Your trusted advisor is your greatest support as you navigate today’s low housing supply to find the home of your dreams.

Bottom Line 

If you’re planning to buy this year, the key to success will be patience given today’s low inventory. Let’s connect to discuss what’s happening in our area, what homes are available, and why it’s still worthwhile to prioritize your home search today.

Spend The Night In An Authentic 1920s Railroad Caboose Near The Shores Of Lake Michigan

When you’re ready for an unforgettable overnight adventure, Michigan has you covered. Throughout the state, curious adventurers can appreciate pretty campgrounds, opulent hotels, and everything in between. If you’re on the hunt for the ideal combination of history, charm, and access to natural beauty, we’ve got the ideal spot in mind. Round up the family and step aboard for memories at this caboose hotel in Michigan.

For additional information about the Caboose Inn and the broader Harbor Inn, including booking details, click here. Have you been lucky enough to spend the night at this caboose hotel in Michigan during previous vacations? Share your memories with us in the Facebook comments or recommend another unforgettable lodging spot by filling out our nomination form here

Searching for another interesting place to stay? You’ll want to read about this picturesque state park lodge in Michigan.

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With Mortgage Rates Climbing, Now’s the Time To Act

With Mortgage Rates Climbing, Now’s the Time To Act | Simplifying The Market

Last week, the average 30-year fixed mortgage rate from Freddie Mac jumped from 3.22% to 3.45%. That’s the highest point it’s been in almost two years. If you’re thinking about buying a home, this news may have come as a bit of a shock. But the truth is, it wasn’t entirely unexpected. Experts have been calling for rates to rise in their 2022 projections, and the forecast is now becoming a reality. Here’s a look at the projections from Freddie Mac for this year:

  • Q1 2022: 3.4%
  • Q2 2022: 3.5%
  • Q3 2022: 3.6%
  • Q4 2022: 3.7%

As the numbers show, this jump in rates is in line with the expectations from Freddie Mac. And what they also indicate is that mortgage rates are projected to continue climbing throughout the year. But should you be worried about rising mortgage rates? What does that really mean for you?

As rates increase even modestly, they impact your monthly mortgage payment and overall affordability. If you’re looking to buy a home, rising mortgage rates should be an incentive to act sooner rather than later.

The good news is, even though rates are climbing, they’re still worth taking advantage of. Historical data shows that today’s rate, even at 3.45%, is still well below the average for each of the last five decades (see chart below):

With Mortgage Rates Climbing, Now’s the Time To Act | Simplifying The Market

That means you still have a great opportunity to buy now with a rate that’s better than what your loved ones may have paid in decades past. If you buy a home while rates are in the mid-3s, your monthly mortgage payment will be locked in at that rate for the life of your loan. As you can see from the chart above, a lot can change in that time frame. Buying now is a great way to protect yourself from rising costs and future rate increases while also securing your payment amount for the long term.

Nadia Evangelou, Senior Economist and Director of Forecasting at the National Association of Realtors (NAR), says:

Mortgage rates surged in the second week of the new year. The 30-year fixed mortgage rate rose to 3.45% from 3.22% the previous week. If inflation continues to grow at the current pace, rates will move up even faster in the following months.”

Bottom Line

Mortgage rates are increasing, and they’re forecast to be even higher by the end of 2022. If you’re planning to buy this year, acting soon may be your most affordable option. Let’s connect to start the homebuying process today.

Michigan Has An Entire Museum Dedicated To Telephones And It’s As Awesome As You’d Think

Whether or not you’re a full-blown history buff, there’s something undeniably fun about setting foot inside a quirky and educational museum. Most of us associate museums with expensive art pieces or even incredible fossils, but one fun spot here in the Great Lakes State stands out in the most wonderful way. As you look for your next family-friendly adventure, consider this fun telephone museum in Michigan.

For further details about this delightful telephone museum in Michigan, click here. Have you and your loved ones been lucky enough to tour this spot during previous visits to the area? What did you learn during your visit? Share your experiences with us by leaving a Facebook comment or recommend another fun museum in Michigan by filling out our nomination form here.

If you’re still seeking adventure, you’ll want to check out this family-friendly road trip in Michigan.

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Most People Have No Idea You Can Do This One Awesome Activity In Detroit

Are you ready to take your fun to the next level – literally? Whether you’re feeling especially adventurous, seeking a romantic outing, or simply searching for the most unique way to appreciate the marvels of the Motor City, we’ve got you covered. You might be used to seeing the many delights of the D from the ground, but hopping on one of these incredible Detroit helicopter tours will take you on the adventure of a lifetime.

To learn more about these amazing Detroit helicopter tours, click here. Have you been fortunate enough to see Detroit from the air during a previous tour? Share your experiences and photos with us by leaving a Facebook comment or recommend another one-of-a-kind Motor City adventure by completing our official nomination form here.

If you’re looking for more on-the-ground fun, read about this natural wonders road trip around Detroit.

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This Epic Road Trip Leads To 7 Iconic Landmarks In Michigan

Are you ready to embrace the wonders of Michigan, both natural and manmade? Our beloved state is home to all sorts of impressive landmarks, whether you’re partial to outdoor attractions, unique buildings, or something in between. If you’re eager to explore a handful of the most iconic and fascinating destinations here in the Great Lakes State, we’ve got you covered. Take a spin along our Michigan landmarks road trip.

Note: for the sake of driving time, we recommend tackling this trip over the course of a long weekend or even extending it into a full vacation to make the most of your adventure. To access an editable version of our route map, click here.

Have you and your loved ones checked out any of the places on our Michigan landmarks road trip? We know our list only scratches the surface, so let us know what we should include in our future articles. Share your thoughts with us by leaving a Facebook comment or make an official recommendation by completing our nomination form here.

If you’re searching for even more adventure, read about these exciting treetop adventures in Michigan.

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There’s A Delicious Restaurant Hiding Inside This Unique Michigan Barn That’s Begging For A Visit

When you’re feeling hungry, the list of restaurants to try here in the Great Lakes State is seemingly endless. You might opt for an upscale seafood restaurant, a tiny waterfront cafe, or a chain eatery that satisfies your every craving. If you’d like to try something truly original, though, one barn restaurant in Michigan certainly deserves your attention. Round up a few hungry loved ones and head out for a bite to eat.

For additional information about the Barn, including full food and drink menus, click here. Have you attended an event or enjoyed a meal at this one-of-a-kind barn restaurant in Michigan during previous outings with loved ones? Share your experiences with us by leaving a Facebook comment or recommend another top dining option by filling out our official nomination form here.

Is your mouth still watering? You might want to read about this nostalgic roadside restaurant in Michigan.

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