Some Highlights:Only 2.9% of homes are in serious delinquency, down 17.1% from July 2015.This is the 57th consecutive month with a year-over-year decline.The national foreclosure rate has returned to August 2007 levels, at only 0.9%. … [Read more...]
5 Stats that Prove the Real Estate Market is Getting Stronger
Whenever there is talk about an improving housing market, some begin to show concern that we may be headed toward another housing bubble that will be followed by a crash similar to the one we saw last decade.Here are five data points that show the housing market will continue to recover, and that a new housing crisis is not about to take shape.1) Mortgage availability is increasing, but is nowhere near the levels we saw in 2004-2006.A buyer’s chances of being approved for a mortgage have increased over the … [Read more...]
Ready to Make an Offer? 4 Tips for Success
So you’ve been searching for that perfect house to call a ‘home’ and you finally found one! The price is right, and in such a competitive market you want to make sure you make a good offer so that you can guarantee your dream of making this house yours comes true!Freddie Mac covered “4 Tips for Making an Offer” in their latest Executive Perspective. Here are the 4 Tips they covered along with some additional information for your consideration:1. Understand How Much You Can … [Read more...]
76% Of US Homeowners Now Have at Least 20% Equity in Their Homes!
CoreLogic’s latest Equity Report revealed that 91.1% of all mortgaged properties are now in a positive equity situation, while 75.9% now have significant equity (defined as more than 20%)! The report also revealed that 548,000 households regained equity in the second quarter of 2016 and are no longer under water.Price Appreciation = Good News for HomeownersFrank Nothaft, CoreLogic’s Chief Economist, explains:“Home-value gains have played a large part in restoring home equity. … [Read more...]
Don’t Underestimate the Importance of Using an Agent When Selling Your Home
When a homeowner decides to sell their house, they obviously want the best possible price with the least amount of hassles. However, for the vast majority of sellers, the most important result is to actually get the home sold.In order to accomplish all three goals, a seller should realize the importance of using a real estate professional. We realize that technology has changed the purchaser’s behavior during the home buying process. For the past three years, 92% of all buyers have used the internet in their … [Read more...]
50% of Houses sold in 36 Days or Less in July [INFOGRAPHIC]
Some Highlights:The National Association of REALTORS® surveyed their members for their Confidence IndexThe REALTORS® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices and market conditions.Homes sold in less than 60 days in 38 out of 50 states and Washington D.C.Homes sold in less than 30 days in 17 states … [Read more...]
The Cost of NOT Owning Your Home
Owning a home has great financial benefits. Because of this, more and more experts are growing concerned about the ramifications of a falling homeownership rate. Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed.The outcomes of a falling homeownership rate can be devastating. As explained by ApartmentList.com:“Our research indicates that not owning a home has a sizable financial cost, as renters miss out on … [Read more...]
Mortgage Standards Easing TOO MUCH? NO!!
There is no doubt that getting a mortgage is easier today than it was right after the housing crash a decade ago. However, the easing of credit availability has led to some questioning of whether or not we are headed for another housing crisis.Let’s put everything into the proper perspective.Mortgage Credit Availability Over the Last Three YearsGetting a home mortgage has definitely gotten easier over the last three years as evidenced by the Mortgage Credit Availability Index, issued by the Mortgage Bankers … [Read more...]
Why Getting Pre-Approved Should Be Your First Step
In many markets across the country, the amount of buyers searching for their dream homes greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.Even if you are in a market that is not as competitive, knowing your budget will give you the confidence of knowing if your dream home is within your … [Read more...]
Interest Rates Remain at Historic Lows… But for How Long?
The interest rate you pay on your home mortgage has a direct impact on your monthly payment; The higher the rate, the greater your payment will be. That is why it is important to look at where the experts believe rates are headed when deciding to buy now or wait until next year.The 30-year fixed mortgage rate has fallen half a percentage point since the beginning of the year and has remained at or below 3.5% for the last 11 weeks according to Freddie Mac’s Primary Mortgage Market Survey.The chart below shows … [Read more...]
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