Highlighting Zillow’s new feature and the importance of its purpose.

Today, I am excited to talk about a new feature that Zillow just added, which focuses on something I think is extremely important. Zillow has 400,000 unique visitors each month, so it is a very popular website! However, a big problem has been that consumers couldn’t see what the mortgage payment would be in correlation to the purchase price and current interest rates. 

The truth is that the mortgage payment does make a big difference, so it’s important to be aware of it. My strategy has always been to focus more on the mortgage payment than the sales price. This is because the latter can always be negotiated, and will fluctuate as the market changes. Historically, home prices go up, but if you buy the house, you can fix your mortgage payment. 

”If payments are affordable, a homeowner can focus on building equity.”

Most buyers use financing to get a house, which means they need to think about the payments they’ll be making. Therefore, when you’re out shopping for houses, you need to focus on the affordability of the payments more than whether the house is $375,000 or $400,000, for example. 

Navigating the market can be tricky, but overall, it is always a good time to buy real estate, so don’t let the sales price get you down. If rates go up, your fixed mortgage payment won’t change. If rates go down, your payment won’t change unless you refinance, and then your payment will go down. 

My dad used to drive me around town and show me houses, and houses that were $70,000 or $80,000 in the 1970s and 1980s are now $400,000. Know that sales prices always change; what matters is that people get locked into a payment that makes sense for them and their families. If payments are affordable, they can focus on making the house their own and building equity, which is how you win in real estate. 

If you decide to look at houses on Zillow, check out the great new feature where you can view the important number. It’s on the home page, and you can even search for homes based on your payment preference. This is one of the first websites I’ve seen do this, and I’m glad they did. 

If you have questions about any of this, don’t hesitate to reach out. You can call or email me anytime, and I would be happy to help you with your real estate goals.