Some Highlights: 95% of first-time homebuyers are willing to sacrifice to make homeownership a reality. The top item that buyers sacrifice is new clothes, at 54%. Even repeat or experienced buyers say they sacrificed taking a vacation or buying a new car to buy their last home. … [Read more...]
Can Your Real Estate Agent Answer These Important Questions?
Whether you are selling or buying a home, the real estate agent you hire is critical to guaranteeing your family makes the right decision. Most agents can walk you through the process and explain the industry ‘lingo,’ but you should expect so much more than that. The housing crisis made everyone aware that truly understanding the real estate market is more complicated than it seems. Today, there are many questions your real estate agent must be able to answer to ensure your family is making the right … [Read more...]
Why Working with a Local Real Estate Professional Makes All the Difference
If you’ve entered the real estate market, as a buyer or a seller, you’ve inevitably heard the real estate mantra, “location, location, location” in reference to how identical homes can increase or decrease in value due to where they’re located. Well, a new survey shows that when it comes to choosing a real estate agent, the millennial generation’s mantra is, “local, local, local.” CentSai, a financial wellness online community, recently surveyed over 2,000 … [Read more...]
#1 Reason to List Your House for Sale, NOW!
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 was such a strong sales increase in March at 4.2 percent, and new and existing inventory is not keeping up with the fast pace homes are coming off the … [Read more...]
All Gave Some. Some Gave All.
Inventory Challenges Continue! [INFOGRAPHIC]
Some Highlights: After a surge in March, existing home sales and new home sales slowed due to a drop in inventory available for sale in the start-up and trade-up categories. Median existing home prices surged for the 62nd straight month, up 6.0% over last year to $244,800. New home prices slowed as builders have started to turn their focus toward single family, smaller homes. … [Read more...]
How’s the Real Estate Market? Find Out What the Experts Are Saying
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 millennial homeownership rates.” Diana Olick, CNBC “Even as more homes come on the market for this traditionally popular sales season, they’re flying off fast, with … [Read more...]
More Americans Chose to Own a Home Than Rent in Q1
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 that were formed in the first quarter, 854,000 were new-owner households making the jump straight to homeownership rather than renting first. That means that the homeownership rate amongst new … [Read more...]
Is Now a Good Time to Rent?
People often ask if now is a good time to buy a home, but nobody ever asks when a good time to rent is. Regardless, we want to make certain that everyone understands that today is NOT a good time to rent. The Census Bureau recently released their 2017 first quarter median rent numbers. Here is a graph showing rent increases from 1988 until today: As you can see, rents have steadily increased and are showing no signs of slowing down. If you are faced with making the decision of whether or not you … [Read more...]
5 Reasons to Hire a Real Estate Professional When Buying or Selling!
Whether you are buying or selling a home it can be quite an adventurous journey, which is why you need an experienced real estate professional to guide you on the path to your ultimate goal. In this world of instant gratification and internet searches, many sellers think that they can For Sale by Owner or FSBO. The 5 reasons you NEED a real estate professional in your corner haven’t changed, but have rather been strengthened by the projections of higher mortgage interest rates & home prices as the market … [Read more...]
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