Some Highlights: Every agent brings a different set of skills & specialties to their clients. It is important to find an agent who you can trust to guide you through the entire process step-by-step. Having a conversation about your goals & expectations will not only save you unneeded frustration, but will also make the transaction as smooth as possible. … [Read more...]
Final 2015 Housing Numbers Now In
Many have questioned the stability of certain sectors of the U.S. Economy, one section in particular is the housing market. Today we would like to share how the experts feel about how we ended 2015 and where they think we are headed in 2016. How did we do in 2015? The National Association of Realtors “Overall, a resilient U.S. economy and very solid job growth in recent years made 2015 a great rebound year for the housing market. Existing-home sales were at the highest pace (5.26 million) since 2006 (6.48 … [Read more...]
What You Don’t Need To Hear From Your Listing Agent
You’ve decided to sell your house. You begin to interview potential real estate agents to help you through the process. You need someone you trust enough to: Set the market value on possibly the largest asset your family owns (your home) Set the time schedule for the successful liquidation of that asset Set the fee for the services required to liquidate that asset An agent must be concerned first and foremost about you and your family in order to garner that degree of trust. Make sure this is the case. Be … [Read more...]
This Time “Mr. Wonderful” is just WRONG!!
Recently, on CNBC’s Closing Bell, Shark Tank investor Kevin O’Leary, also known as “Mr. Wonderful,” said Millennials “don’t give a poo-poo about owning a house.” This thinking couldn’t be further from the truth. Let’s give a few examples to make this point. 1.) In the recent National Housing Market Survey conducted by Fannie Mae, it was revealed that: “…data indicates that millennial renters today have as much desire to own a home as the general … [Read more...]
Harvard: Why Owning A Home Makes Sense Financially
We have reported many times that the American Dream of homeownership is alive and well. The personal reasons to own differ for each buyer, with many basic similarities. Eric Belsky, the Managing Director of the Joint Center of Housing Studies at Harvard University expanded on the top 5 financial benefits of homeownership in his paper -The Dream Lives On: the Future of Homeownership in America. Here are the five reasons, each followed by an excerpt from the study: 1.) Housing is … [Read more...]
Existing Home Sales Bounce Back [INFOGRAPHIC]
Some Highlights: Sales in December were 14.7% higher than those in November, marking the largest month-over-month increase ever recorded. Inventory levels are still below historic norms at 3.9-months supply. Median home price is up 7.6% from last year, marking the 46th consecutive month with year-over-year price gains. … [Read more...]
A Million+ Boomerang Buyers about to Enter Market
TransUnion recently released the results of a new study titled “The Bubble, the Burst and Now - What Happened to the Consumer?” The study revealed that 1.5 million homeowners that were negatively impacted by the housing crisis could re-enter the housing market in the next three years. TransUnion defined “negatively impacted” as… “…those who were 60+ days past due on a mortgage loan, lost their mortgage through foreclosure, short sale or other non-satisfactory … [Read more...]
Where Are Interest Rates Headed This Year?
With interest rates still below 4%, many buyers may be on the fence as to whether to act now and purchase a new home, or wait until next year. If you look at what the four major reporting agencies are predicting for 2016, it may make the decision for you. The chart below averages the predictions by quarter. With the exception of Fannie Mae, the experts agree that interest rates will increase by three-quarters of a percentage point, costing you more to pay back your loan. Bottom Line Even a small increase in … [Read more...]
What Do You Actually Need to Get a Mortgage?
Fannie Mae recently released their “What do consumers know about the Mortgage Qualification Criteria?” Study. The study revealed that Americans are misinformed about what is required to qualify for a mortgage when purchasing a home. Here are three takeaways: 59% of Americans either don’t know (54%) or are misinformed (5%) about what FICO score is necessary 86% of Americans either don’t know (59%) or are misinformed (25%) about what an appropriate Back End Debt-to-Income (DTI) ratios is 76% … [Read more...]
Rents Still Skyrocketing
Zillow recently revealed that the 43 million renter households in the US spent $535 billion on rent in 2015. Aggregate numbers like these often make it difficult to truly assess a situation. For more clarity, we want to share some points that were made in a Wall Street Journal article earlier this month. The article made two important points: 1. Rents are increasing faster than the last several years: “Apartment rents increased faster last year than at any time since 2007.” 2. Rent increases are … [Read more...]
