Are you an empty-nester? Do you want to retire where you are, or does a vacation destination sound more your style? Are you close to retirement and not ready to move yet, but living in a home that is too big in size and maintenance needs? How can you line up your current needs with your goals and dreams for the future? The answer for many might be the equity you have in your house. According to the latest Equity Report from CoreLogic, the average homeowner in the United States gained $14,000 in equity over the … [Read more...]
Americans Still Believe Real Estate is Best Long-Term Investment
According to Bankrate’s latest Financial Security Index Poll, Americans who have money to set aside for the next 10 years would rather invest in real estate than any other type of investment. Bankrate asked Americans to answer the following question: “What is the best way to invest money you wouldn’t need for 10 years or more?” Real Estate came in as the top choice with 28% of all respondents (3% higher than last year), while cash investments – such as savings accounts and … [Read more...]
Rising Home Prices Mean Great News for Homeowners
Recently there has been a lot of talk about home prices and if they are accelerating too quickly. As we mentioned before, in some areas of the country, seller supply (homes for sale) cannot keep up with the number of buyers who are out looking for homes, which has caused prices to rise. The great news about rising prices, however, is that according to CoreLogic’s Homeowner Equity Report, the average American household gained over $14,000 in equity over the course of the last year, largely due … [Read more...]
84% of Americans Believe Buying a Home is a Good Financial Decision
According to the National Association of Realtors®’ 2017 National Housing Pulse Survey, 84% of Americans now believe that purchasing a home is a good financial decision. This is the highest percentage since 2007 – before the housing crisis. Those surveyed pointed out five major reasons why they believe homeownership is a good financial decision: Homeownership means the money you spend on housing goes towards building equity, rather than to a landlord Homeownership creates the opportunity to pay off … [Read more...]
3 Tips to Succeed in Today’s Real Estate Market
In today’s highly competitive real estate market, where inventory levels are not keeping up with the constant stream of buyer demand, there are steps you can take to ensure you are most prepared for success when buying a home. The 3 tips we are going to expand on today come from a recent blog by Trulia entitled, The Skinny on Skinny Inventory. 1. Be Prepared “Homebuyers should talk with a lender, real estate agent, and a home inspector BEFORE finding a home to make an offer on.” Being … [Read more...]
3 Questions to Ask Before You Buy Your Dream Home
If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family will have your best interests at heart, they may not be fully aware of your needs and what is currently happening in the real estate market. Ask yourself the following 3 questions to help determine if now is a good time for you to buy in today’s market. 1. Why am I buying a home in the first place? This is truly the most important question to answer. Forget the finances for a minute. … [Read more...]
Home Buying Myths Slayed [INFOGRAPHIC]
Some Highlights: Interest rates are still below historic numbers. 88% of property managers raised their rent in the last 12 months! The credit score requirements for mortgage approval continue to fall. … [Read more...]
The 5 Greatest Benefits of Homeownership
Recently, Freddie Mac reported on the benefits of homeownership. According to their report, here are the five benefits that “should be at the top of everyone’s list.” Homeownership can help you build equity over time. Your monthly payments will remain stable. You may have some tax benefits. You can take pride in ownership. Homeownership improves your community. Let’s expand on each of Freddie Mac’s points: Homeownership can help you build equity over time. Every three years, the … [Read more...]
The High Impact of Low Interest Rates on Your Purchasing Power
According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.96%, which is still near record lows in comparison to recent history! The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power. Purchasing power, simply put, is the amount of home you can afford to buy for the budget you have available to spend. As rates increase, the price of … [Read more...]
Be Thankful You Don’t Have to Pay Mom and Dad’s Interest Rate
Interest rates have hovered around 4% for the majority of 2017, which has given many buyers relief from rising home prices and has helped with affordability. Experts predict that rates will increase by the end of 2017 and will be about three-quarters of a percentage point higher, at 4.5%, by the end of 2018. Last week’s Freddie Mac Primary Mortgage Market Survey revealed that interest rates for a 30-year fixed rate mortgage have fallen to their lowest mark this year, at 3.88%. This is great news for … [Read more...]
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