All posts by Joann Samelko

Will a Silver Tsunami Change the 2024 Housing Market?

Have you ever heard the term “Silver Tsunami” and wondered what it’s all about? If so, that might be because there’s been lot of talk about it online recently. Let’s dive into what it is and why it won’t drastically impact the housing market.

What Does Silver Tsunami Mean?

A recent article from HousingWire calls it:

“. . . a colloquialism referring to aging Americans changing their housing arrangements to accommodate aging . . .”

The thought is that as baby boomers grow older, a significant number will start downsizing their homes. Considering how large that generation is, if these moves happened in a big wave, it would affect the housing market by causing a significant uptick in the number of larger homes for sale. That influx of homes coming onto the market would impact the balance of supply and demand and more.

The concept makes sense in theory, but will it happen? And if so, when?

Why It Won’t Have a Huge Impact on the Housing Market in 2024

Experts say, so far, a silver tsunami hasn’t happened – and it probably won’t anytime soon. According to that same article from HousingWire:

“. . . the silver tsunami’s transformative potential for the U.S. housing market has not yet materialized in any meaningful way, and few expect it to anytime soon.”

Here’s just one reason why. Many baby boomers don’t want to move. Data from the AARP shows over half of the surveyed adults ages 65 and up plan to stay put and age in place in their current home rather than move (see chart below):

Clearly, not every baby boomer is planning to sell or move – and even those who do won’t do it all at once. Instead, it will be more gradual, happening slowly over time. As Mark Fleming, Chief Economist at First Americansays:

Demographics are never a tsunami. The baby boomer generation is almost two decades of births. That means they’re going to take about two decades to work their way through.”

Bottom Line

If you’re worried about a Silver Tsunami shaking up the housing market, don’t be. Any impact from baby boomers moving will be gradual over many years. Fleming sums it up best:

“Demographic trends, they don’t tsunami. They trickle.”

6201 Tilden Park Drive, Raleigh NC 27612

Striking 4BR, 2.5BA Home in Raleigh Midtown – Elegance, Comfort & Outdoor Bliss!

6201 Tilden Park Drive
Striking 4 BR 2.5 Bath Residence

This property is a perfect blend of comfort, style, and convenience, making it an ideal choice for discerning homeowners.

Spacious and Modern Living! Step into luxury with this stunning 4-bedroom, 2.5-bath home, nestled in the heart of Midtown. This property is a perfect blend of comfort, style, and convenience, making it an ideal choice for discerning homeowners.

Desirable Midtown Location: Situated in an exclusive one-street subdivision with no HOA, offering the perfect balance of privacy and accessibility.

Sophisticated Design: Boasting brick front exterior, a large deck for outdoor enjoyment, and a beautifully landscaped, treed lot within a fenced yard.

Luxurious Interiors: Features dazzling hardwoods on the main level, detailed crown molding, and chair railing, enhancing the home’s elegance.

6201 Tilden Park

Picture-Perfect Kitchen: Equipped with granite countertops, stainless appliances, white cabinetry, a movable island, a gas range, and roomy breakfast room. Almost new Bosch refrigerator and dishwasher.

Comfortable Living Spaces: A spacious family room with a gas log fireplace, formal dining room, and a roomy breakfast room offer ample space for relaxation and entertaining.

Spacious Bedrooms: All bedrooms come with large closets, outfitted with wood shelving and cubbies for optimal organization.

Recent Upgrades: Main level HVAC (Lennox, installed on April 28, 2021) with a warranty valid through April 28, 2031, and a hot water heater (February 11, 2023).

Additional Amenities:  Refrigerator, washer, and dryer are included in the sale.

Exclusive Community: One-street subdivision with no HOA, offering privacy and a sense of community.

This home is a haven of sophistication and comfort, offering a unique opportunity to live in one of Midtown’s most coveted locations. Experience the perfect blend of luxury and practicality in this magnificent home!

Open House on Saturday January 20th from 10am to 4pm. Come by and View this Beautiful Property.

Key Skills You Need Your Listing Agent To Have

Agent sitting at table with two sellers
Selling Your House

Selling your house is a big decision. And that can make it feel both exciting and a little bit nerve-wracking. But the key to a successful sale is finding the perfect listing agent to work with you throughout the process. A listing agent, also known as a seller’s agent, helps market and sell your house while advocating for you every step of the way. 

But, how do you know you’ve found the perfect match in an agent? Here are three key skills you’ll want your listing agent to have.

They Price Your House Based on the Latest Data

While it may be tempting to pick the agent who suggests the highest asking price for your house, that strategy may cost you. It’s easy to get caught up in the excitement when you see a bigger number, but overpricing your house can have consequences. It could mean it’ll sit on the market longer because the higher price is actually deterring buyers. 

Instead, you want to pick an agent who’s going to have an open conversation about how they think you should price your house and why. A great agent will base their pricing strategy on solid data. They won’t throw out a number just to win your listing. Instead, they’ll show you the facts, explain their pricing strategy, and make sure you’re on the same page. As NerdWallet explains:

“An agent who recommends the highest price isn’t always the best choice. Choose an agent who backs up the recommendation with market knowledge.”

They’re a Great Negotiator

The home-selling process can be emotional, especially if you’ve been in your house for a long time. You’re connected to it and have a lot of memories there. This can make the negotiation process harder. That’s where a trusted professional comes in. 

A skilled listing agent will be calm under pressure and will be your point-person in all of those conversations. Their experience in handling the back-and-forth gives you with the peace of mind that you’ve got someone on your side who’s got your best interests in mind throughout this journey. 

They’re a Skilled Problem Solver

At the heart of it all, a listing agent’s main priority is to get your house sold. A great agent never loses sight of that goal and will help you prioritize your needs above all else. If they identify any necessary steps you need to take, they’ll be open with you about it. Their commitment to your success means they’ll work with you to address any potential roadblocks and find creative solutions to anything that pops up along the way.

BankRate explains it like this: 

“Just as important as the knowledge and experience agents bring is their ability to guide you smoothly through the process. Above all, go with an agent you trust and will feel comfortable with. . .”

Bottom Line

Whether you’re a first-time seller or you’ve been through selling a house before, a great listing agent is the key to success. Let’s connect so you have a skilled local expert by your side to guide you through every step of the process.

Don’t Get Caught Off Guard by Closing Costs

Don’t Get Caught Off Guard by Closing Costs | MyKCM

As a homebuyer, it’s important to plan and budget for the expenses you’ll encounter when you purchase a home. While most people understand the need to save for a down payment, a recent survey found 41% of homebuyers were surprised by their closing costs. Here’s some information to help you get started so you’re not caught off guard when it’s time to close on your home.

What Are Closing Costs?

One possible reason some people are surprised by closing costs may be because they don’t know what they are or what they cover. According to U.S. News and World Report:

“Closing costs encompass a variety of expenses above your property’s purchase price. They include things like lender fees, title insurance, government processing fees, upfront tax payments and homeowners insurance.”

In other words, your closing costs are a collection of fees and payments made to a variety of individuals and organizations who are involved with your transaction. According to Freddie Mac, while they can vary by location and situation, closing costs typically include:

  • Government recording costs
  • Appraisal fees
  • Credit report fees
  • Lender origination fees
  • Title services
  • Tax service fees
  • Survey fees
  • Attorney fees
  • Underwriting Fees

How Much Will You Need To Budget for Closing Costs?

Understanding what closing costs include is important, but knowing what you’ll need to budget to cover them is critical to achieving your homebuying goals. According to the Freddie Mac article mentioned above, the costs to close are typically between 2% and 5% of the total purchase price of your home. With that in mind, here’s how you can get an idea of what you’ll need to cover your closing costs.

Let’s say you find a home you want to purchase for the median price of $350,300. Based on the 2-5% Freddie Mac estimate, your closing fees could be between roughly $7,000 and $17,500.

Keep in mind, if you’re in the market for a home above or below this price range, your closing costs will be higher or lower.

What’s the Best Way To Make Sure You’re Prepared At Closing Time?

Freddie Mac provides great advice for homebuyers, saying:

As you start your homebuying journey, take the time to get a sense of all costs involved – from your down payment to closing costs.”

The best way to understand what you’ll need at the closing table is to work with a team of trusted real estate professionals. An agent can help connect you with a lender, and together they can provide you with answers to the questions you might have.

Bottom Line

In today’s real estate market, it’s more important than ever to make sure your budget includes any fees and payments due at closing. Let’s connect so you have the knowledge you need to be confident going into the homebuying process.

News About Joann Samelko

Expanded NC Territory

Happy to Announce that I have recently joined the Cape Fear Realtors Association and the North Carolina Regional Multiple Listing Service (NCRMLS). The NCRMLS covers 41 counties.


I have been working with buyers and sellers in the Triangle area of NC since 2002 and plan to continue in The Triangle as a member of the Raleigh Regional Association of Realtors and the Triangle MLS. The Triangle MLS covers 16 counties.


What this announcement means is that I and have decided to extend my territory and business to the South and East of the Triangle.


When we first moved to North Carolina we lived in Southern Pines in Moore County and I continue to have a love for that area of North Carolina. I still enjoy spending time there and would love to represent sellers and buyers in the Sandhills. My friends and neighbors from Moore County can count on me to help them with their real estate needs.


For other friends and clients that have talked about having a second home, investment property or retiring at the beach I can now help you find that special place at the beach.


Want to learn more _ give me a call 919-616-2555