Today’s Newsmakers at Noon featured another edition of Real Estate Insights with Amy McLeod of The McLeod Group/Keller Williams and Elizabeth Smith of The Smith Mortgage Team/Success Mortgage.
Elizabeth was back with some encouraging news about credit reporting agencies and increased competition, and what those developments could mean for borrowers.
A big theme of the conversation was “Focus on the HOW, not the WHAT.” Instead of Boomers telling their kids and grandkids all the reasons buying a home today looks different – or dwelling on what they were able to buy for decades ago – Amy and Elizabeth encouraged families to focus on how younger and first-time buyers can make homeownership work today. There are financing options, programs and strategies available, and starting the conversation with “you’ll never be able to afford a house” sends exactly the wrong message.
We also talked about why your house is more than a place to live. Homeownership is relative to time, income, and when you enter the market. Getting into the market can provide an opportunity to build equity and create long-term financial stability.
And finally, your real estate agent isn’t a magician! Successful transactions depend on realistic expectations and honest conversations between agents and clients. It’s a relationship – and good communication on both sides matters.
The takeaway: Stop focusing on what homeownership used to look like and start asking how to make it work today.
