![What is the Cost of Waiting Until Next Year to Buy? [INFOGRAPHIC]](https://sibleyrealtygroup.com/wp-content/uploads/2019/01/20190118-Share-KCM.jpg)
Some Highlights: The cost of waiting to buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time. Freddie Mac predicts interest rates to rise to 5.1% by the end of 2019. CoreLogic predicts home prices to appreciate by 4.8% over the next 12 months. If you are ready and willing to buy your dream home, find out if you are able to! … [Read more...]
Last Chance! Homes are a Bargain Compared to Historic Norms
A loaf of bread used to be a nickel. A movie ticket was a dime. Not anymore. Houses were also much less expensive than they are now. Inflation raised the price of all three of those items, along with the price of almost every other item we purchase. The reason we can still afford to consume is that our wages have also risen over time. The better measure of whether an item is more expensive than it was before is what percentage of our income it takes to purchase that item today compared to earlier. Let’s … [Read more...]
Buying a Home Young is the Key to Building Wealth
Homeowners who purchase their homes before the age of 35 are better prepared for retirement at age 60, according to a new Urban Institute study. The organization surveyed adults who turned 60 or 61 between 2003 and 2015 for their data set. “Today’s older adults became homeowners at a younger age than today’s young adults. Half the older adults in our sample bought their first house when they were between 25 and 34 years old, and 27 percent bought their first home before age 25.” The full … [Read more...]
Buying a House This Year? This Should Be Your 1st Step!
In many markets across the country, the number of buyers searching for their dream homes outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show that 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 not in an incredibly competitive market, understanding your budget will give you the confidence of knowing whether or not your dream … [Read more...]
The Cost Across Time [INFOGRAPHIC]
![The Cost Across Time [INFOGRAPHIC]](https://sibleyrealtygroup.com/wp-content/uploads/2019/01/20190111-Share-KCM.jpg)
Some Highlights: With interest rates still around 4.5%, now is a great time to look back at where rates have been over the last 40 years. Rates are projected to climb to 5.0% by this time next year according to Freddie Mac. The impact your interest rate makes on your monthly mortgage cost is significant! Lock in a low rate now while you can! … [Read more...]
Is the Recent Dip in Interest Rates Here to Stay?
Interest rates for a 30-year fixed rate mortgage climbed consistently throughout 2018 until the middle of November. After that point, rates returned to levels that we saw in August to close out the year at 4.55%, according to Freddie Mac’s Primary Mortgage Market Survey. After the first week of 2019, rates have continued their downward trend. As Freddie Mac’s Chief Economist Sam Khater notes, this is great news for homebuyers. He states, “Mortgage rates declined to start the new year with the … [Read more...]
Belief in Homeownership as an Investment is Far from Dead
Following last year’s real estate market was like riding a rollercoaster. The market started off strong in 2018 and then softened before finishing with a mild flurry. However, one thing that did not waiver was America’s belief that owning a home makes sense from a financial standpoint. An end-of-the-year survey by the Federal Reserve Bank’s Center for Microeconomic Data revealed that: “The majority of households continue to view housing as a good financial investment.” And that … [Read more...]
Excited About Buying A Home This Year? Here’s What to Watch
As we kick off the new year, many families have made resolutions to enter the housing market in 2019. Whether you are thinking of finally ditching your landlord and buying your first home or selling your starter house to move into your forever home, there are two pieces of the real estate puzzle you need to watch carefully: interest rates & inventory. Interest Rates Mortgage interest rates had been on the rise for much of 2018, but they made a welcome reversal at the end of the year. According to Freddie … [Read more...]
Where is the Housing Market Headed in 2019? [INFOGRAPHIC]
![Where is the Housing Market Headed in 2019? [INFOGRAPHIC]](https://sibleyrealtygroup.com/wp-content/uploads/2018/12/20181228-Share-STM.jpg)
Some Highlights: Interest rates are projected to increase steadily throughout 2019, but buyers will still be able to lock in a rate lower than their parents or grandparents did when they bought their homes! Home prices will rise at a rate of 4.8% over the course of 2019 according to CoreLogic. All four major reporting agencies believe that home sales will outpace 2018! … [Read more...]
24 Hours that Suddenly Improved the Market
This year started strong for real estate, but then the market began to soften. Home inventory in the starter and move-up categories dwindled to almost nothing, mortgage rates were projected to rise, and home sales have now decreased for several months in a row. To many, the outlook heading into 2019 appeared dim… at best. Then, in a 24-hour window last week, things seemed to change. On Wednesday, the National Association of Realtors’ (NAR) revealed in their Existing Homes Sales Report … [Read more...]
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