There’s no doubt 2020 has been a challenging year. A global pandemic coupled with an economic recession has caused heartache for many. However, it has also prompted more Americans to reconsider the meaning of “home.” This quest for a place better equipped to fulfill our needs, along with record-low mortgage rates, has skyrocketed the demand for home purchases. This increase in demand, on top of the severe shortage of homes for sale, has also caused more bidding wars and thus has home prices appreciating rather … [Read more...]
Don’t Let Buyer Competition Keep You from Purchasing a Home
This year’s record-low mortgage rates sparked high demand among homebuyers. Current homeowners, however, haven’t put their houses on the market so quickly. This makes finding a home to buy today challenging for many potential buyers. With an obstacle like this, those searching for their dream homes may be pressing pause on their searches as we approach the end of the year, but that could be a big mistake for many hopeful house hunters. Here’s why. According to the most recent Housing Trends Report from the National … [Read more...]
Making a Home for the Brave Possible [INFOGRAPHIC]
Some Highlights VA Home Loans provide unique opportunities for Veterans, active-duty personnel, and their families in recognition of their service to our Nation. For eligible individuals, options associated with VA Loans can help make the dream of homeownership a reality. If you or someone you know may benefit from a VA Loan, let’s connect to answer your questions today. … [Read more...]
Rent vs. Buy: How to Decide What’s Best for You
According to the U.S. Census Bureau, median rent continues to rise. With today’s low mortgage rates, there’s great opportunity for current renters to make a move into homeownership that stretches each dollar a little bit further. While the best timeline to buy a home is different for everyone, the question remains: Should I continue renting or is it time for me to buy? The answer depends on your current situation and your future plans, so here are some thoughts to help you decide if you’re ready … [Read more...]
Buyer Interest Is Growing among Younger Generations
The demand for homes this year is extraordinary as record-breaking numbers of hopeful buyers continue to shop for homes. In a normal year, the peak homebuying season comes to a close by early fall. However, 2020 is anything but a normal year, and the housing market is no exception. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), explains: “Home sales traditionally taper off toward the end of the year, but in September they surged beyond what we normally see during this … [Read more...]
How Down Payment Assistance Opens the Door to Homeownership
Many people are eager to buy a home right now while affordability continues to be a highlight of the current housing market. However, a recent survey by Sparks Research shows that 20% of first-time homebuyers cite a lack of financial education as a barrier to homeownership. This is definitely understandable. If you don’t feel comfortable with the financial process of buying a home, it’s hard to make a confident decision. In fact, four in five homebuyers say they need help to understand what they can … [Read more...]
How to Prepare for a Bidding War [INFOGRAPHIC]
Some Highlights With so few houses available on the market today, being ready for a bidding war is essential for prospective homebuyers. From pre-approval to making your best offer, here are three tips to make sure you can act quickly and confidently when you find the perfect home. Let’s connect today to be sure you have the guidance you need as the competition for homes heats up this season. … [Read more...]
A Homeowner’s Net Worth Is 40x Greater Than a Renter’s
One of the best ways to build your family’s financial future is through homeownership. Recent data from the Federal Reserve indicates the net worth of a homeowner is actually over 40 times greater than that of a renter. Maybe it’s time to start thinking about buying a home, especially when they’re so affordable in today’s market. Every three years the Survey of Consumer Finances shows the breakdown of how owning a home helps build financial security. In the graph below, we see that the … [Read more...]
The Cost of a Home Is Far More Important than the Price
Housing inventory is at an all-time low. There are 39% fewer homes for sale today than at this time last year, and buyer demand continues to set records. Zillow recently reported: “Newly pending sales are up 25.5% compared to the same week last year, the highest year-over-year increase in the weekly Zillow database.” Whenever there is a shortage in supply of an item that’s in high demand, the price of that item increases. That’s exactly what’s happening in the real estate market … [Read more...]
Virtual School Is Changing Homebuyer Needs [INFOGRAPHIC]
Some Highlights With remote learning sweeping the nation this academic year, organized spaces with enough room for kids to learn effectively are high on buyer wish lists. If you’re trying to make room for your family’s growing needs, multi-purpose rooms and dedicated workspaces may be features to consider in your next home. Let’s connect today so you can find a home where your kids feel confident and comfortable too. … [Read more...]
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