People across the country are beginning to think about what their life will look like next year. It happens every fall; we ponder whether we should relocate to a different part of the country to find better year-round weather, or perhaps move across the state for better job opportunities. Homeowners in this situation must consider whether they should sell their house now or wait.If you are one of these potential sellers, here are five important reasons to sell now instead of in the dead of winter.1. Demand Is … [Read more...]
Homes Across the Country Are Selling Fast! [INFOGRAPHIC]
Some Highlights:The National Association of REALTORS® surveyed their members for the release of their Confidence Index.The REALTORS® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices and market conditions.Homes sold in 60 days or less in 42 out of 50 states, and Washington D.C.Homes sold in 30 days or less in 17 states. … [Read more...]
From Empty Nest to Full House… Multigenerational Families Are Back!
Multigenerational homes are coming back in a big way! In the 1950s, about 21%, or 32.2 million Americans shared a roof with their grown children or parents. According to a recent Pew Research Center report, the number of multigenerational homes dropped to as low as 12% in 1980 but has shot back up to 19%, roughly 60.6 million people, as recently as 2014.Multigenerational households typically occur when adult children (over the age of 25) either choose to, or need to, remain living in their parent’s home, and … [Read more...]
You Can Never Have TMI about PMI
When it comes to buying a home, whether it is your first time or your fifth, it is always important to know all the facts. With the large number of mortgage programs available that allow buyers to purchase a home with a down payment below 20%, you can never have Too Much Information (TMI) about Private Mortgage Insurance (PMI).What is Private Mortgage Insurance (PMI)?Freddie Mac defines PMI as:“An insurance policy that protects the lender if you are unable to pay your mortgage. It's a monthly fee, rolled into … [Read more...]
Purchasing a Home: Financial Checklist
Many factors play into the decision on whether or not you are ready to purchase a home. For many buyers, one of the biggest determinants is whether or not they are financially prepared to take the plunge into home ownership. Many first time home buyers are familiar with the down payment required by many loan products, however, there are several other costs that should be considered before beginning the home search process. Let’s start the discussion with one-time expenses. Unless the purchase of the home you have … [Read more...]
A Lack of Listings Remains ‘Huge’ Challenge in the Market
The housing crisis is finally in the rearview mirror as the real estate market moves down the road to a complete recovery. Home values are up, home sales are up, and distressed sales (foreclosures & short sales) are at their lowest mark in over 8 years. This has been, and will continue to be, a great year for real estate.However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. According to the National Association of Realtors (NAR), buyer traffic and demand … [Read more...]
Why Waiting Until After the Holidays to Sell Isn’t a Smart Decision
Every year at this time, many homeowners decide to wait until after the holidays to put their homes on the market for the first time, while others who already have their homes on the market decide to take them off until after the holidays. Here are six great reasons not to wait:Relocation buyers are out there. Companies are not concerned with holiday time and if the buyers have kids, they want them to get into school after the holidays. Purchasers that are looking for a home during the holidays are serious … [Read more...]
Thank You for Your Service!
Thank you for your service! … [Read more...]
The Truth About Housing Affordability
From a purely economic perspective, this is one of the best times in American history to buy a home. Black Night Financial Services discusses this in their most recent Monthly Mortgage Monitor.Here are two of the report’s revelations:The average U.S. home value increased by $13,500 from last year, but low interest rates have kept the monthly principal & interest payment needed to purchase a median-priced home almost equal to one year ago.Home affordability still remains favorable compared to long-term … [Read more...]
The Dangers of “Tight Mortgage Credit” Headlines
The availability of mortgage credit is not at the same level that it was during the boom in housing (2005), and that’s good news. However, the constant headlines which talk about “tight credit” are causing some potential home buyers to doubt their ability to purchase. We want to rectify the misconception of what is required for a down payment in order to purchase a home in today’s market.Freddie Mac recently discussed the confusion many first-time homebuyers have about the down payment they … [Read more...]
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