Owning a home has great financial benefits. Because of this, more and more experts are growing concerned about the ramifications of a falling homeownership rate. Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed.The outcomes of a falling homeownership rate can be devastating. As explained by ApartmentList.com:“Our research indicates that not owning a home has a sizable financial cost, as renters miss out on … [Read more...]
Mortgage Standards Easing TOO MUCH? NO!!
There is no doubt that getting a mortgage is easier today than it was right after the housing crash a decade ago. However, the easing of credit availability has led to some questioning of whether or not we are headed for another housing crisis.Let’s put everything into the proper perspective.Mortgage Credit Availability Over the Last Three YearsGetting a home mortgage has definitely gotten easier over the last three years as evidenced by the Mortgage Credit Availability Index, issued by the Mortgage Bankers … [Read more...]
Why Getting Pre-Approved Should Be Your First Step
In many markets across the country, the amount 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 is to get pre-qualified or pre-approved for a mortgage before starting your search.Even if you are in a market that is not as competitive, knowing your budget will give you the confidence of knowing if your dream home is within your … [Read more...]
Interest Rates Remain at Historic Lows… But for How Long?
The interest rate you pay on your home mortgage has a direct impact on your monthly payment; The higher the rate, the greater your payment will be. That is why it is important to look at where the experts believe rates are headed when deciding to buy now or wait until next year.The 30-year fixed mortgage rate has fallen half a percentage point since the beginning of the year and has remained at or below 3.5% for the last 11 weeks according to Freddie Mac’s Primary Mortgage Market Survey.The chart below shows … [Read more...]
Congratulations To Our Winners!!!
Congratulations to our Winners!!! 1st prize: Alan & Dawn Cason 2nd prize: Justin & Maribel Morgan Didn't win this time??? Don't miss our next drawing! HOW TO ENTER? You'll earn one entry for connecting us with anyone you know that may be looking to buy or sell a home! For every review you leave on the following sites, you'll also earn an entry! ZILLOW REALTOR.COM GOOGLE … [Read more...]
Home Prices Up 5.61% Across The Country! [INFOGRAPHIC]
Some Highlights:The Federal Housing Finance Agency (FHFA) recently released their latest Quarterly Home Price Index report.In the report, home prices are compared both regionally and by state.Based on the latest numbers, if you plan on relocating to another state, waiting to move may end up costing you more!Vermont was the only one state where home prices are actually lower than they were last year. … [Read more...]
New Construction Numbers: Now Versus 2005
There is some thinking that the pace of the housing recovery is unsustainable and that we may be heading for another housing bubble. However, Jonathan Smoke, the Chief Economist of realtor.com explains the basic difference between 2005 and today:“The havoc during the last cycle was the result of building too many homes and of speculation fueled by loose credit. That’s the exact opposite of what we have today.”If we look at the number of new single family housing starts over the last 30 years, we … [Read more...]
Is the Current Pace of Home Sales Sustainable?
There are some experts questioning whether the current pace of residential home sales is sustainable. Are too many people buying homes like in 2004-2006? Are we headed for another housing crisis? Actually, if we look closely at the numbers, we can see that we are looking at a very healthy real estate market.Why the concern?Some are looking at the last three years of home sales and comparing them to the three years just prior to the housing bubble. Looking at the graph below, we can understand that thinking.However, … [Read more...]
5 Reasons to Sell This Fall
School is back in session, the holidays are right around the corner, you might not think that now is the best time to sell your house. But with inventory below historic numbers and demand still strong, you could be missing out on a great opportunity for your family.Here are five reasons why you should consider selling your house this fall: 1. Demand Is StrongThe latest Realtors’ Confidence Index from the National Association of Realtors (NAR) shows that buyer demand remains … [Read more...]
14,767 Homes Sold Yesterday… Did Yours?
There are some homeowners that have been waiting for months to get a price they hoped for when they originally listed their house for sale. The only thing they might want to consider is... If it hasn't sold yet, maybe it's not priced properly.After all, 14,767 houses sold yesterday, 14,767 will sell today and 14,767 will sell tomorrow.14,767!That is the average number of homes that sell each and every day in this country, according to the National Association of Realtors’ … [Read more...]
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