Bill Hornsby Real Estate

  As we start 2026, homeowners may have questions about their home, the local market, and what changes, if any, might make sense down the road. Even if moving isn't on your radar, your home is still one of your biggest assets, and staying informed can help you make better decisions over time. That's why we offer a service called  Homeowner Advisory . Homeowner Advisory is a  complimentary, no-pressure resource  designed to help homeowners get answers, clarity, and guidance about their home and the real estate market, whether plans involve moving soon, years from now, or not at all. It's meant to be a place you can turn when questions come up, without feeling like you're starting a sales conversation. Use the Homeowner Advisory to talk through things like: Your home's current value and how it has changed Local market conditions and trends Which improvements typically offer the best return Property taxes or assessment questions Maintenance planning or finding reliable...

    When it comes to real estate, one of the most useful tools for understanding market conditions is something called the   absorption rate.   Simply put, the absorption rate measures how quickly homes are selling in a specific market. It's calculated by dividing the number of homes sold in a given period by the number of homes currently on the market. This figure gives us a "speedometer" for the market—how fast or slow homes are moving. In a  balanced market , the absorption rate usually reflects about five to six months of inventory. That means if no new homes were listed, it would take five to six months to sell all the homes currently available at the existing sales pace. When the absorption rate dips below five months, we enter  seller's market conditions . This signals high demand and low inventory, which often leads to faster sales, competitive bidding, and multiple offers. On the other hand, when the absorption rate climbs above six months, it indi...

 

If you've been wondering what's going on with the real estate market lately, you're not alone. After several years of intense competition and bidding wars, the tide is shifting and today's buyers are seeing more negotiating power than they've had in a while. According to data from the real estate analytics firm Cotality , around 56% of homes nationwide sold below their asking price as of late 2025 . This trend marks a notable change from the red-hot market we've become accustomed to. What's driving the shift? Several factors are at play: Inventory is rising. More homes are staying on the market longer, giving buyers more choices. At the same time, some sellers are choosing to pull their listings, up 48% compared to last year, often because their pricing expectations aren't being met. Buyers have more leverage. With less competition, buyers are successfully negotiating on price and requesting concessions like help with closing costs or ...

Many homeowners are surprised to learn that the unpaid balance on their mortgage isn't the same as the payoff amount. While the unpaid balance represents the remaining principal owed on the loan, the actual payoff is often higher. That's because the payoff amount includes not just the principal, but also any accrued interest and other fees owed up to the day the loan is fully satisfied.  Mortgage interest is typically calculated on a daily basis, so if you're paying off your loan between regular payment dates, additional interest will be included in the payoff amount. This daily interest accrues from the date of your last payment until the date your lender receives the full payoff.   In addition to interest, your payoff may include other costs. Lenders often add small administrative or recording fees to cover the cost of processing the final paperwork and releasing the lien on the property.  In some cases, prepayment penalties may apply, although they are less com...