Why Many Homeowners Are Left Feeling “House Rich, Cash Poor”

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• What to Do When You’re Spending Most of your Income on Housing Expenses •

This week, Hometap released a Homeownership Study that showed 73% of homeowners surveyed feel “house rich and cash poor” some of the time. In the same study, 60% of millennial homeowners said housing costs make it difficult to achieve important financial goals, and 42% worried about whether they’ll be able to save enough to pay for their children’s college tuition.

We talk a lot about home buying at Reali. Not just because it’s our business, but because we recognize there is a lot of room for improvement when it comes to doing things the traditional way. Homeowners have accepted the current real estate process of paying a 6% total commission to agents when buying and selling a home as there has been no alternative. While the team at Reali isn’t able to control rising home prices or the cost of living, some things are within our control: fees and commission.

At Reali, we believe if home buying is on your list of goals, it should be as affordable as possible while still getting the full service, support, and local knowledge that you would expect from a licensed agent. And with Reali, we give you a cash rebate when you buy a home, and we can list your home for 1%.

Think about this for a minute: Almost half of a 20 percent down payment (the equivalent to an entire life’s savings for many people!) goes towards service fees and commissions. On an $800,000 dollar home, the typical 20 percent down payment for a buyer would be $160,000, but $83,000 of that down payment will go towards paying mortgage lender fees, agent commissions, and closing costs. When you buy your home with Reali, you get to use that money to save for your future or add to your children’s college fund.

A lot has changed in real estate over the past 100 years, but one thing has remained the same — homeowners are expected to pay unreasonable amounts of money when buying a home. The process of buying a home that exists today favors agents and service providers, not customers.

There’s a better way to buy and sell a home, without hefty commissions. Call us at (858) 880-0195 or email portia.green@compass.com to speak with our team and learn more.

The Bottom Line

Call us at (858) 880-0195 or email portia.green@compass.com to get started.

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About The Author
Portia Green, REALTOR®

Portia Green is a highly experienced full-time REALTOR® specializing in the representation of Sellers, heralded by her clients as data-driven and an effective negotiator. Producing $25M total in residential sales volume, Portia's goal is to help her clients achieve the best results when selling their homes and to make their experience an enjoyable one. She has successfully sold real estate since 2008 and has gained an in-depth knowledge of local real estate markets & seasonal trends. Portia has achieved a 100% customer satisfaction rating and wants to share her expertise & personal service with you in the sale of your home. When listing your home with Portia Green and Compass, you'll receive the hands-on service you need and desire. Portia will help you manage the entire process of selling your home from pricing, preparing and staging the house, to marketing, negotiating offers, inspections, all the way to closing. She will recommend skilled vendors for any job needed, personally host Open Houses, and ensure that all showings are accompanied. At Compass, Portia offers a wise no-nonsense way to sell your home for the best price and the least hassle. With a keen eye for staging & preparing listings to maximize Buyer appeal, all of Portia Green's listings are professionally photographed using HDR (High Dynamic Range) photography to provide the highest quality photos in the industry. Professionally printed marketing materials are prepared for all Open Houses. We also capture a 3D scan of your home that creates an interactive walkthrough online along with a custom-designed floor plan and targeted digital marketing campaigns on Google & the most popular social media channels. Compass participates in the Multiple Listing Service, which is the local real estate database of homes listed for sale that all REALTORS® use in helping their Buyers find houses. Your home will appear on every real estate website, in its best light, making a stunning camera-ready debut. Portia Green's home valuation expertise and extensive experience in comparative market analysis will help price your home accurately. She has refined her skills to help you pinpoint which features of your home will result in more showings and better results. Her mantra is for you to be ready to sell your home and feel good about that first. Portia knows that home inspectors always find a problem; that drones take some of the best photos in town; and that her eyebrows will grow to the floor in the time it takes her to read everything that's happening with your HOA, but that doesn't mean she won't do it anyway. Eyebrows be damned. You'll always need a place to unplug, connect, dream, grow, or just be yourself. That makes what Portia does even more meaningful. She’s ready to go the extra mile to help you find just the place. Whether you're selling your very first home, offloading an investment property, or want a vacation getaway with passive income, she is attentive to the details of every home sale. Portia helps busy people navigate this crazy real estate market like a pro, so don't be shy. Every great relationship starts with free advice and a friendly chat. Ask as many questions as you need to. Selling houses is her jam! www.portia.realtor