According to the latest Aspiring Home Buyers Profile by the National Association of Realtors (NAR), 82% of surveyed renters desire to own a home in the future, with 80% believing homeownership is a big part of achieving their American Dream. The profile went on to state that 50% of millennials believe that their rent will increase, with 20% believing that an increase in rent will be the catalyst that pushes them to consider buying a home vs. renewing their lease. So, what is holding renters back? What would make … [Read more...]
2 Ways to Get the Most Money from The Sale of Your Home
Every homeowner wants to make sure they maximize their financial reward when selling their home. But how do you guarantee that you receive the maximum value for your house? Here are two keys to ensure that you get the highest price possible. 1. Price it a LITTLE LOW This may seem counterintuitive, but let’s look at this concept for a moment. Many homeowners think that pricing their homes a little OVER market value will leave them with room for negotiation. In actuality, this just dramatically … [Read more...]
Top 5 Reasons to Hire a Real Estate Professional When Buying or Selling!
Whether you are buying or selling a home it can be quite the adventure, which is why you need an experienced real estate professional to guide you on the path to achieving your ultimate goal. But in this world of instant gratification and internet searches, many sellers think that they can ‘For Sale by Owner’ or ‘FSBO.’ The 5 reasons you NEED a real estate professional in your corner haven’t changed but have rather been strengthened by the projections of higher mortgage … [Read more...]
Should I Wait Until Next Year to Buy? Or Buy Now? [INFOGRAPHIC]
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 2019. CoreLogic predicts home prices to appreciate by 4.3% 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...]
Calm Down! The Real Estate Market is NOT Falling Apart
There has been tremendous volatility in certain markets over the last few weeks (for example, the stock and currency markets). When this happens, some tend to lump all of their investments together and create an almost ‘Armageddon’ scenario where everything loses value quickly and dramatically. Real estate is an investment that can get caught up in this hysteria. Does the concern about the current housing market have merit? Financial advisors have been warning us for months that the stock market was … [Read more...]
Which Comes First… Marriage or Mortgage?
According to the National Association of REALTORS most recent Profile of Home Buyers & Sellers, married couples once again dominated the first-time homebuyer statistics in 2017 at 57% of all buyers. It is no surprise that having two incomes to save for down payments and contribute to monthly housing costs makes buying a home more attainable. But, many couples are also deciding to buy a home before spending what would be a down payment on a wedding, as unmarried couples made up 16% of all … [Read more...]
Low Inventory Pushes Home Prices Higher
According to CoreLogic’s latest Home Price Index, prices appreciated by 6.9% year-over-year from December 2016 to December 2017 on a national level. This marks the fifth month in a row with at least a 6.9% increase. Dr. Frank Nothaft, Chief Economist for CoreLogic, gave insight into the reason behind the large appreciation, “The number of homes for sale has remained very low. Job growth lowered the unemployment rate to 4.1 percent by year’s end, the lowest level in 17 years. Rising income and … [Read more...]
The #1 Reason to Sell Now Before Spring
The price of any item (including residential real estate) is determined by ‘supply and demand.’ If many people are looking to buy an item and the supply of that item is limited, the price of that item increases. According to the National Association of Realtors (NAR), the supply of homes for sale dramatically increases every spring. As an example, here is what happened to housing inventory at the beginning of 2017: Putting your home on the market now instead of waiting for increased … [Read more...]
5 Reasons to Love Using A Real Estate Pro [INFOGRAPHIC]
Highlights: Hiring a real estate professional to guide you through the process of buying a home or selling your house can be one of the best decisions you make! They are there for you to help with paperwork, understanding the process, negotiations, and helping you with pricing (both when making an offer or setting the right price for your home). One of the top reasons to hire a real estate professional is their understanding of your local market and how the conditions in your neighborhood will impact your … [Read more...]
Homeownership: “The Reports of My Death Have Been Greatly Exaggerated”
The famous quote by Mark Twain in the title of this article can be used to describe homeownership in America today. Last week, the Census revealed that the percentage of homeowners in the country increased for the first time in thirteen years. A story in the Wall Street Journal gave these new homeownership numbers some context: “The annual increase marks a crucial turning point because it comes after the federal government reined in bubble-era policies that encouraged banks to ease lending standards to … [Read more...]
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