The Gallup organization recently released a survey in which Americans were asked to rank what they considered to be the “best long term investment.” Real estate ranked number one, with 35% of those surveyed saying it was a better long term investment than stocks & mutual funds, gold, savings accounts or bonds. Here is the breakdown: The survey revealed that real estate was the number one choice among each of the following groups: Men Women People between the ages of 18-29 People between the ages of … [Read more...]
Billionaire: Buy a Home… And if You Can, Buy a Second Home!
Three years ago, John Paulson gave a keynote address at the CNBC/Institutional Investor Conference. In his speech, he told those in attendance that he believes housing will continue its strong recovery for the next 4 to 7 years, saying that: "The housing market has bottomed. It's not too late to get involved. I still think buying a home is the best investment any individual can make. Affordability is still at an all-time high." When asked how the average person could take advantage of the current real estate … [Read more...]
Investment Home Sales Rebound in 2015 [INFOGRAPHIC]
Some Highlights: 2015 marks the first year-over-year increase in investment home sales since 2011. 62% of all investment homes purchased were single family homes. The South saw the highest percentage of investment home sales (39%) with the West coming in second (28%). … [Read more...]
Investors: More Sales and Higher Prices
The National Association of Realtors recently released their 2016 Investment and Vacation Home Buyers Survey. The survey revealed many characteristics of both vacation home purchasers and investors. Two weeks ago, we posted on the vacation home market. Today, we want to concentrate on the investor real estate market. The survey revealed that investment-home sales in 2015 jumped 7.0 percent to an estimated 1.09 million from 1.02 million in 2014. Lawrence Yun, NAR’s chief economist discussed the increase in … [Read more...]
One More Time… You Do Not Need 20% Down To Buy NOW
A survey by Ipsos found that the American public is still somewhat confused about what is actually necessary to qualify for a home mortgage loan in today’s housing market. The study pointed out two major misconceptions that we want to address today. 1. Down Payment The survey revealed that consumers overestimate the down payment funds needed to qualify for a home loan. According to the report, 36% think a 20% down payment is always required. In actuality, there are many loans written with … [Read more...]
Thinking of Selling? The Market Needs Your Listing!!
The housing market is really heating up and buyer demand is dramatically increasing as we enter the spring season. However, one challenge to the current market is a major shortage of inventory. Below are a few comments made in the last month by industry experts. Lawrence Yun, Chief Economist of NAR “Looking ahead, the key for sustained momentum and more sales than last spring is a continuous stream of new listings quickly replacing what's being scooped up by a growing pool of buyers. Without adequate supply, … [Read more...]
Buying a Home is 36% Less Expensive Than Renting Nationwide!
In the latest Rent vs. Buy Report from Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States. The updated numbers actually show that the range is an average of 5% less expensive in Orange County (CA) all the way up to 46% in Houston (TX), and 36% Nationwide! Other interesting findings in the report include: Interest rates have remained low and even though home prices have appreciated … [Read more...]
Vacation Home Sales Reach 2nd Highest Mark Since 2006 [INFOGRAPHIC]
Some Highlights: 58% of vacation homes purchased were single family homes. 51% of vacation homes that were purchased were found online. The median price of a vacation home is up 28% from 2014. … [Read more...]
Vacation Home Sales: Sales Down, Prices Up
The National Association of Realtors recently released their 2016 Investment and Vacation Home Buyers Survey. The survey revealed many characteristics of both vacation home purchasers and investors. Today, we want to concentrate on the vacation real estate market. The survey found that vacation home sales last year declined to an estimated 920,000, down 18.5% from their most recent peak level of 1.13 million in 2014. However, this is still the second highest number of vacation sales since 2006. Lawrence Yun, … [Read more...]
The Top Reasons Why Americans Buy Homes
Last week, the inaugural “Homebuyer Insights Report” was released by the Bank of America. The report revealed the reasons why consumers purchase homes and what their feelings are regarding homeownership. Consumer Lending Executive, D. Steve Boland, explained: “Homebuyers today are motivated by both emotional and practical reasons. Nearly all want more space, but a majority of homebuyers, especially those purchasing their first home, are also looking for a place to call their own, put down roots … [Read more...]
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