Move-Up Buyers
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…
Kids’ Opinions Matter Big When Buying a Home A recent survey conducted by Harris Poll and released by SunTrust Mortgage found that “55% of homeowners with a child under the age of 18 at the time when they purchased their home said that the opinion of their offspring played a major role in their home…
VA Loans … Since the creation of the Veterans Affairs the VA Loans Program has helped over 22 million veterans achieved the American Dream of home ownership. Many veterans do not know the details of the program and therefore do not take advantage of the benefits available to them. If you are a veteran or…
Using a Professional to sell your home… When homeowners decide to sell their houses, they obviously want to get the best possible price for their home 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. However, in order to…
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…
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…
In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home 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…
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 = 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…
Thinking of Selling Your Home? That headline might be a little aggressive; however, as August 2017’s housing market data begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME TODAY! In a recent article by CBS News, they explained that the number of…
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… 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…
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 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”…
Selling Your Home? Inventory / your competitors are coming! The number of building permits issued for single-family homes is the best indicator of how many newly built homes will increase inventory over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the…
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…
Did Your Home Sell? There are some homeowners who are patiently waiting to get the price they hoped for when they originally listed their houses for sale. Something these homeowners might want to take into consideration is the fact that if their homes haven’t sold yet, maybe they’re not priced properly. If your home is…
Down Payment Under 10%… According to Black Knight Financial Service’s Mortgage Monitor Report, 1.5 million Americans have purchased a home with a down payment under than 10% over the last 12 months. This is great news for buyers as this marks a 7-year high. Many mortgage programs offered by agencies like Freddie Mac and Fannie…
Don’t Let Your FICO® Score Keep You From Your New Home? The results of countless studies have shown that potential home buyers, and even current homeowners, have an inflated view of what is really required to qualify for a mortgage in today’s market due to their FICO® score. One such study by the Wharton School of Business at…
What’s Your Home’s Value? The latest edition of CoreLogic’s Home Price Index shows that nationally, home prices have appreciated 6.7% over the last year and 0.9% month-over-month. The release of the report included this headline, “National Home Prices Now 50% Above March 2011 Bottom” The real estate market has come a long way since 2011,…
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 6.7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.0% over the next year. The…
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…
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…
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…
Low Home Inventory – Demand is High! First-time home buyers are flocking to the real estate market by the thousands to find their dream homes in order to make their dreams of home ownership a reality. Unfortunately for many, the low inventory of starter and trade-up homes in the US has struggled to keep up…