5 CRITERIA FOR PRICING A HOME

5 CRITERIA FOR PRICING A HOME

When you put your home up for sale, one of the best ways to determine the asking price is to look at comparable sales. There’s rarely a perfect apples-to-apples comparison, so a pricing decision often relies on comparisons to several recent sales in the area. Here are 5 criteria for pricing a home to look…

CREATE AN EVACUATION PLAN FOR YOUR PETS

CREATE AN EVACUATION PLAN FOR YOUR PETS

An evacuation plan is a necessity for every home, especially if you live in an area where fires, earthquakes, hurricanes, flooding, and other disasters are a possibility. Many homeowners create evacuation plans for their homes and practice them with their kids, but far fewer have considered one for their pets. Take these steps to add…

TURNING A BEDROOM INTO A LUX BEDROOM

TURNING A BEDROOM INTO A LUX BEDROOM

For most of us, our bedroom is little more than a place to sleep and relax. However, just because it’s always been that way doesn’t mean that we have to settle for drab and dreary. One trend that’s gaining steam these days is converting your current bedroom into a luxury suite (or something comparable). If…

How Long Do Most Families Live in a House Before Thinking of Selling?

How Long Do Most Families Live in a House - homeonwership

Homeownership – How long? The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of their data points, which has changed dramatically, is the median tenure of a family in a home, meaning how long a family stays in a home prior to moving. As the graph below shows, over the last twenty years…

You DO NOT Need a 20% Down Payment to Buy Your Home NOW!

You DO NOT Need a 20% Down Payment to Buy Your Home NOW!

The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. The results of the survey show that the main reason why non-homeowners do not own their own homes is because they believe that…

Homeownership Benefits, Go Beyond the Financial

The Benefits of Homeownership Go Beyond the Financial

Homeownership the American Dream… Homeownership is a major part of the American Dream. As evidence of that, 91% of Americans believe that owning a home is either essential (43%) or important (48%) to achieving that “dream.” In a market where some people may be unsure about the benefits and possibilities of buying a home, it…

There’s More to a Bubble Than Rising Home Prices

There’s More to a Bubble Than Rising Home Prices

What truly causes a housing bubble and the inevitable crash? For the best explanation, let’s go to a person who correctly called the last housing bubble – a year before it happened. “A bubble requires both overvaluation based on fundamentals and speculation. It is natural to focus on an asset’s fundamental value, but the real…

Buying a Home Remains Cheaper Than Renting in 39 States!

Buying a Home Remains Cheaper Than Renting in 39 States!

Thinking of Buying a Home? Everyone wants to save money.  Did you know buying a home is cheaper than renting.  Here’s why…… In the latest Rent vs. Buy Report from Trulia, they explained that buying a home remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the…

Net Worth of Homeowners 44 Times Greater than Renters

Net Worth of Homeowners 44X Greater than Renters

Net Worth = Rent vs. Buy… Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect net worth data across all economic and social groups. The latest survey data, covering 2013-2016 was released two weeks ago. The study revealed that the 2016 median net worth of homeowners was $231,400 – a 15% increase since…

Millennials to Millionaire: Now is the time to Buy a Home Now!

Millionaire to Millennials: Buy a Home Now!

Millennials to Millionaire… In a CNBC article, self-made millionaire David Bach explained that “the single biggest mistake millennials are making” is not purchasing a home because buying real estate is “an escalator to wealth.” Bach went on to explain: “If millennials don’t buy a home, their chances of actually having any wealth in this country are little to none. The…

Down Payment… No… You Do Not Need 20% Down to Buy NOW!

No… You Do Not Need 20% Down Payment to Buy NOW!

Down Payment… The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still somewhat confused about what down payment is required to qualify for a home mortgage loan in today’s housing market. The results of the survey show that non-homeowners cite the main reason for not currently owning…

A Tale of Two Real Estate Markets: A 6-Month Update

A Tale of Two Markets: A 6-Month Update

Two Real Estate Markets… Six months ago, we reported that the mismatch between the type of inventory of homes for sale and the demand of buyers in the US was causing the formation of two real estate markets. In the starter and trade-up home categories, there were significantly more buyers than there were homes for…

Homeownership Is a Precondition of the American Dream

Report: Homeownership Is a Precondition of the American Dream

Homeownership The American Dream… Hearth just released their 2017 State of the American Dream report which showed that Americans still see homeownership as an integral piece of the American Dream. The report confirmed that “all generations–including millennials – agree homeownership is very important to achieving the American Dream.” Americans ranked “owning a home I love”…

Why the Lack of Housing Inventory Available for Sale?

Buy or Rent?

Supply and Demand housing inventory… There is no doubt that the largest challenge in today’s housing market is a lack of housing inventory for sale. This challenge has been defined as an “overwhelming lack of supply,” and even a “straight up inventory crisis.” First American just released the results of a survey which sheds light…

How Your Home Value Grows Your Family’s Wealth

How Your Home’s Value Grows Your Family’s Wealth

Think about Your Home Value… Over the next five years, home prices are expected to appreciate 3.64% per year on average and to grow by 18.4% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey. So, what does this mean for homeowners and their equity position? As an example, let’s assume a young couple purchased and closed on…

America Needs Your House!! Housing Shortage

America Needs Your House!!

Housing Shortage… The biggest challenge in today’s real estate market is a lack of housing inventory. How big of a challenge is the housing shortage? Here are what four industry economists are saying on the issue (emphases added): Mark Fleming, First American’s Chief Economist “The underlying fundamental issue is an overwhelming lack of supply… The…

More Boomerang Buyers Are about to Enter the Market

More Boomerang Buyers Are about to Enter the Market

Boomerang Buyers Ready to Re-Enter the Real Estate Market.. We previously informed you about a study conducted by TransUnion titled, “The Bubble, the Burst and Now – What Happened to the Consumer?” The study revealed that 1.5 million homeowners who were negatively impacted by the housing crisis could re-enter the housing market between 2016-2019…Boomerang Buyers. Recently, HousingWire…

58% of Homeowners Opinion See a Drop in Home Values Coming

58% of Homeowners Opinion See a Drop in Home Values Coming

Homeowner’s Opinion According to the recently released Modern Homebuyer Survey from ValueInsured, 58 percent of homeowners opinion think there will be a “housing bubble and price correction” within the next 2 years. After what transpired just ten years ago, we can understand the concern Americans have about the current increase in home prices. However, this…

Homeowner’s Net Worth Is Still Greater Than a Renter’s

Homeowner’s Net Worth Is Still Greater Than a Renter’s

What’s Your Homeowner’s Net Worth? Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400).  The latest…

93.9% Of Homes in The US Have Positive Equity – 2017 Remains Positive

93.9% Of Homes in The US Have Positive Equity

How much equity? CoreLogic’s latest Equity Report revealed that ninety-one thousand residential properties regained equity in Q1 2017. The outlook for 2017 remains positive as well, as an additional 600 thousand properties will regain equity if home prices rise another 5% this year.  The study also revealed that: Roughly 63% of all homeowners have seen their equity increase…

Buyer Demand Continues Outpacing the Supply of Homes for Sale

Real Estate Questions?

Buyer Demand is High! The price of any item is determined by the supply of that item, as well as the market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index. Their latest edition sheds some light on the relationship…

Americans Still Believe Real Estate is Best Long-Term Investment

Americans Still Believe Real Estate is Best Long-Term Investment

Real Estate is Best Long-Term Investment According to Bankrate’s latest Financial Security Index Poll, Americans who have money to set aside for the next 10 years would rather invest in real estate than any other type of investment. Bankrate asked Americans to answer the following question: “What is the best way to invest money you…

Real Estate Housing Inventory Is Low, Demand Is High [Infographic]

Family

Real Estate Housing Inventory Highlights: Existing Home Sales are now at an annual pace of 5.52 million. Real Estate Housing Inventory of existing homes for sale dropped to a 4.3-month supply, marking the 25th month in a row of declines. The median price of homes sold in June was $263,800. This is the 64th consecutive…

The Importance of Home Equity in Retirement Planning

The Importance of Home Equity in Retirement Planning

Equity Difference between homeowner and renter We often discuss the difference in family wealth between homeowner households and renter households. Much of that difference is the result of the equity buildup that homeowners experience over the time that they own their home. In a report recently released by the nonpartisan Employee Benefit Research Institute (EBRI), they reveal how valuable equity can…

69% of Buyers are Wrong About Down Payment Needs

69% of Buyers are Wrong About Down Payment Needs

Down payment needs According to a recent survey conducted by Genworth Financial Inc. at the Annual Mortgage Bankers’ Association Secondary Market Conference, mortgage professionals say that first-time buyers still believe a 20% down payment is necessary to buy in today’s market. Nearly 40% of mortgage industry professionals surveyed believe that a lack of knowledge about the home-buying process is keeping…

84% of Americans Believe Buying a Home is a Good Financial Decision

84% of Americans Believe Buying a Home is a Good Financial Decision

Owning a Home – Good Financial Decision According to the National Association of Realtors®’ 2017 National Housing Pulse Survey, 84% of Americans now believe that purchasing a home is a good financial decision. This is the highest percentage since 2007 – before the housing crisis. Those surveyed pointed out five major reasons why they believe homeownership is…

3 Tips to Succeed in Today’s Highly Competitive Real Estate Market

3 Tips to Succeed in Today’s Highly Competitive Real Estate Market

Competitive Real Estate Market In today’s highly competitive real estate market, where inventory levels are not keeping up with the constant stream of buyer demand, there are steps you can take to ensure you are most prepared for success when buying a home. The 3 tips we are going to expand on today come from…

The Key to Selling Your House is to Price It Right The First Time!

The Key to Selling Your House is to Price It Right The First Time!

House Prices The housing market is recovering nicely. House prices have increased nationally by double digits over the last twelve months. Competition from the shadow inventory of lower priced distressed properties (foreclosures and short sales) is diminishing rapidly. Now may be the perfect time to sell your home and move to the dream house or…

Premium Home Sales Soar Due to Help From Buyer’s Market

Buyer’s Market Helps Premium Home Sales Soar

We previously reported how a shortage of inventory in the starter and trade-up home markets is driving prices up and causing bidding wars, creating a true seller’s market. At the same time, in the premium home market, an over-abundance of inventory has started to see prices come down and put buyers in the driver’s seat,…

Low Interest Rates Impact Your Real Estate Purchasing Power

The High Impact of Low Interest Rates on Your Purchasing Power

Low Interest Rates = Purchase Power! According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.96%, which is still near record lows in comparison to recent history! The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your…

Factors Impacting List Price, Which Effect Visibility

Factors Impacting List Price, Which Effect Visibility

The residential housing market has been hot. Home sales have bounced back solidly and are now at their fourth highest pace over the past year. Demand has remained strong ­throughout spring as many real estate professionals are reporting bidding wars with many homes selling above list price. What about your house? If your house hasn’t sold, it…

Pre-Approval Should Always Be Your First Step

Real Estate Loan Pre-Approval Should Always Be Your First Step

Pre-Approval Should Always Be Your First Step In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home…

Existing Home Sales Surge into Summer [INFOGRAPHIC]

Existing Home Sales Surge into Summer [INFOGRAPHIC]

Supply and Demand Some Highlights: Existing Home Sales reached their third highest mark this year in May. Inventory of homes for sale has dropped 8.4% since last year, marking the 24th consecutive month of year-over-year declines. NAR’s Chief Economist, Lawrence Yun had this to say: “Those able to close on a home last month are…

Your Opportunity to Achieve the American Dream Keeps Getting Better!

Your Opportunity to Achieve the American Dream Keeps Getting Better!

Forbes.com recently released the latest results of their American Dream Index, in which they measure “the prosperity of the middle class, and…examine which states best support the American Dream.” The monthly index measures several different economic factors, including goods-producing employment, personal and commercial bankruptcies, building permits, startup activity, unemployment insurance claims, labor force participation, and layoffs. The national…

Decorating to Home Staging to Getting Your Home Sold Quickly

Decorating to Home Staging to Getting Your Home Sold Quickly

Decorating – Staging – Sold Once you’ve decided to put your home on the market, you’re looking to sell quickly for the best possible price. One tactic that can help sell your home faster is home staging. At first, home staging may seem like a real estate term that doesn’t actually mean anything. Isn’t staging…

Five bathroom decor trends that are appearing in 2017

Five bathroom decor trends that are appearing in 2017

Staying on top of the latest bathroom decor trends isn’t for everyone, but even for traditionalists, it can be fun to incorporate some new ideas. Here are five bathroom decor trends that are appearing in 2017. Geometric Patterns: Many homeowners are selecting bold patterns in geometric shapes, like chevrons, triangles, or hexagons. These patterns can…

Want to know what could affect property values?

Want to know what could affect property values?

What is affecting your property values? Some the features that increase property values are obvious-like a remodeled bathroom, a modern kitchen, or a just redecorating. But here are a few features and circumstances you have not have realized can affect property values. The neighbors: Not every neighborhood or community has an HOA that can keep…

Do You Know How Much Equity You Have in Your Home?

Do You Know How Much Equity You Have in Your Home?

CoreLogic’s latest Equity Report revealed that 91,000 properties regained equity in the first quarter of 2017. This is great news for the country, as 48.2 million of all mortgaged properties are now in a positive equity situation. Price Appreciation = Good News for Homeowners Frank Nothaft, CoreLogic’s Chief Economist, explains: “One million borrowers achieved positive equity over the last year,…

Top Home Renovations for Maximum ROI [INFOGRAPHIC]

Top Home Renovations for Maximum ROI

Some Highlights: Whether you are selling your home, just purchased your first home, or are a homeowner planning to stay put for a while, there is value in knowing which home improvement projects will net you the most Return On Investment (ROI). While big projects like adding a bathroom or a complete kitchen remodel are…

The Impact Your Interest Rate Makes [INFOGRAPHIC]

The Impact Your Interest Rate Makes

Your Interest Rate Makes a Difference Some Highlights: Interest rates have come a long way in the last 30 years. An interest rate is very important when purchasing a home. The interest rate you secure directly impacts your monthly payment and the amount of house that you can afford if you plan to stay within…

Home Ownership Is a Good Financial Investment!

Homeownership Is a Good Financial Investment!

Home Ownership According to a recent report by Trulia, “buying is cheaper than renting in 100 of the largest metro areas by an average of 33.1%.” The report may have some people thinking about buying a home instead of signing another lease extension, but does that make sense from a financial perspective? Ralph McLaughlin, Trulia’s Chief Economist explains: “Owning a…

5 Reasons You Should Sell This Summer

5 Reasons You Should Sell This Summer

Here are five reasons listing your home for sale this summer makes sense. 1. Demand Is Strong The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase… and are in…

Again… You Do Not Need 20% Down to Buy NOW!

Again… You Do Not Need 20% Down to Buy NOW!

A survey by Ipsos found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. There are two major misconceptions that we want to address today. 1. Down Payment The survey revealed that consumers overestimate the down payment funds needed to qualify for a…

Renting or Buying… Either Way You’re Paying a Mortgage

Renting or Buying… Either Way You’re Paying a Mortgage

There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s. As Entrepreneur Magazine, a premier source for small business, explained this month…

Decorate For Pennies

Decorate For Pennies

Decorating your home can be done for pennies. Whether you are wanting a new look, adding accent to your current décor, or just a change.  There are many items around your home that can be repurposed into beautiful “new to you” décor and it you can decorate for pennies.  If you don’t have old items…

Color My Home Sold

Color My Home Sold

Color plays an important part in selling a home. Everywhere we turn in life, there is color and they make us feel different emotions and trigger memories. Some of these emotions don’t bring about such fond memories.  It is difficult to depict which person is going to feel a certain way or what memory the…

Solar Power For Your Home

Solar Power Your Home

Solar Power for your home is more efficient, effectively cost saving and better for our environment. Solar power is captured through the use of solar panels, which are made up of photovoltaic cells that convert sunlight into current by means of an inverter.  An inverter is a device that converts the stored solar power into…

A Garage Is Not Just a Garage

A Garage Is Not Just a Garage

The trend of garages being re-purposed for things other than parking a car has been increasing lately. A garage is now used in many ways that serve as a value addition to the home as well as a memorable place for the family. In what ways can a garage serve your family? Here are some…

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