Real Estate
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…
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…
In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their homes on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers. Here are…
Real Estate Housing Shortage The Joint Center of Housing Studies (JCHS) at Harvard University recently released their 2017 State of the Nation’s Housing Study on the housing shortage and a recent blog from JCHS revealed some of the more surprising aspects of the study. The first two revelations centered around the shortage of housing inventory…
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…
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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…
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…
The Cost of Renting vs. Buying in the US [INFOGRAPHIC] Some Highlights: Historically, the choice between renting or buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (29.2%) vs. the percentage needed to buy a median-priced home (15.8%), the choice becomes obvious. Every…
Avoid mortgage mistakes when buying a home. We all know that searching for and viewing potential homes is the fun part of the home-buying process. The not-so-fun part? The mortgage. But if you don’t pay attention to the details, your mortgage can end up dragging down the enjoyment of your new home and cause some…
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…
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…
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,…
The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States. The updated numbers actually show that the range is an average of 3.5% less expensive in San Jose (CA), all…
RENT vs. BUY Debate In a blog post published last Friday, CNBC’s Diana Olnick reported on the latest results of the FAU Rent vs. Buy Index. The index examines the entire US housing market and then isolates 23 major markets for comparison. The researchers at FAU use a “‘horse race’ comparison between an individual that…
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…
A Real Estate Expert When it comes to buying a home, whether you are a rookie home buyer or have gone through the process many times, having a local real estate expert who is well versed in the neighborhood you are looking to move into, as well as the trends of that area, should be…
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…
When a homeowner decides to sell their house, they obviously want the best possible price for it with the least amount of hassles along the way. However, for the vast majority of sellers, the most important result is actually getting their homes sold. In order to accomplish all three goals, a seller should realize the…
Here are four great reasons to consider buying a home today, instead of waiting. 1. Prices Will Continue to Rise CoreLogic’s latest Home Price Index reports that home prices have appreciated by 7.1% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.9% over the…
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…
If you are debating listing your house for sale this year, here is the #1 reason not to wait! Buyer Demand Continues to Outpace the Supply of Homes for Sale The National Association of REALTORS’ (NAR) Chief Economist Lawrence Yun recently commented on the inventory: “Last month’s dip in closings was somewhat expected given that there…
As we head into summer, it is a great time to review how the 2017 real estate market is doing so far. Here is what the experts are saying: Doug Duncan, Fannie Mae Chief Economist “Positive demographic factors should continue to reshape the housing market, as rising employment and incomes appear to be positively influencing…
In school, we all learned the theory of supply and demand. When the demand for an item is greater than the supply of that item, the price will surely rise. SUPPLY The National Association of Realtors (NAR) recently reported that the inventory of homes for sale stands at a 3.8-month supply. This is considerably lower than the 6-month supply…
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…
According to the latest report from the US Census Bureau, more Americans chose purchasing a home over signing a lease to rent in the first quarter of 2017. This marks the first time since 2006 that the number of new homeowner households outpaced the number of new renter households. Of the 1.22 million new households…