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The Benefits of a 20% Down Payment

If you are in the market to buy a home this year, you may be confused about how much money you need to come up with for your down payment. Many people you talk to will tell you that you need to save 20% or you won’t be able to secure a mortgage. The truth is that there are many programs available that let you put down as little as 3%. Those who have served our country could qualify for a Veterans Affairs Home Loan [...]

By |2019-05-08T04:00:00-06:00May 8th, 2019|Buying Myths, Down Payments, First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers|Comments Off on The Benefits of a 20% Down Payment

Slaying the Largest Homebuying Myths Today [INFOGRAPHIC]

Some Highlights: The average down payment for first-time homebuyers is only 6%! Mortgage interest rates have been on the decline since November! Hop in now to lock in a low rate! 88% of property managers raised their rents in the last 12 months! The average credit score on approved loans continues to fall across many loan types!  

By |2019-04-12T04:00:54-06:00April 12th, 2019|Buying Myths, Down Payments, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Infographics, Interest Rates, Move-Up Buyers, Pricing, Rent vs. Buy|Comments Off on Slaying the Largest Homebuying Myths Today [INFOGRAPHIC]

The Enormous Divide Between the Headline and the Truth

“I have observed that not the man who hopes when others despair, but the man who despairs when others hope, is admired by a large class of persons as a sage.” – John Stuart Mill (1840s) Even back in the mid-1800s, people knew that negative news sells. That is still true today. All forms of media realize that they will get more eyeballs, clicks, likes, and engagement by posting something negative. However, they must realize that negative headlines impact markets. Just last week, the National [...]

By |2019-03-26T04:00:59-06:00March 26th, 2019|Buying Myths, First Time Home Buyers, For Agents, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Selling Myths|Comments Off on The Enormous Divide Between the Headline and the Truth

How to Get a Better Perspective on Affordability

Headlines spotlight the fact that buying a home is less affordable today than it was at any other time in more than a decade. Those headlines are accurate. Understandably, buying a home is more expensive now than immediately following one of the worst housing crashes in American history. Over the past decade, the market was flooded with distressed properties (foreclosures and short sales) selling at 10-50% discounts. There were so many that this lowered the prices of non-distressed homes in the same neighborhoods. As a [...]

By |2019-02-07T05:00:11-06:00February 7th, 2019|Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers, Pricing|Comments Off on How to Get a Better Perspective on Affordability

One More Time… You Do Not Need 20% Down to Buy a Home

The largest obstacle renters face when planning to buy a home is saving for a down payment. This challenge is amplified by rising rents, which has eaten into the amount of money renters have leftover for savings each month after paying expenses. In combination with higher rents, survey after survey has shown that non-homeowners (renters and those living rent-free with family or friends) believe they need to save upwards of 20% for their down payment! According to the “Barriers to Accessing Homeownership” study commissioned in [...]

By |2019-02-05T05:00:21-06:00February 5th, 2019|Buying Myths, Down Payments, First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers|Comments Off on One More Time… You Do Not Need 20% Down to Buy a Home

Buying a House This Year? This Should Be Your 1st Step!

In many markets across the country, the number of buyers searching for their dream homes outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show that 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 not in an incredibly competitive market, understanding your budget will give you the confidence of knowing whether or not your dream [...]

By |2019-01-14T05:00:14-06:00January 14th, 2019|Buying Myths, First Time Home Buyers, For Buyers|Comments Off on Buying a House This Year? This Should Be Your 1st Step!

No Bubble Here! How New Mortgage Standards Are Helping

Real estate is shifting to a more normal market; the days of national home appreciation topping 6% annually are over and inventories are increasing which is causing bidding wars to almost disappear. Some see these as signs that the market will soon come tumbling down as it did in 2008. As it becomes easier for buyers to obtain mortgages, many are suggesting that this is definite proof that banks are repeating the same mistakes they made a decade ago. Today, we want to assure everyone [...]

By |2018-12-13T05:00:07-06:00December 13th, 2018|Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates|Comments Off on No Bubble Here! How New Mortgage Standards Are Helping

Will Your Side Hustle Buy You a House This Year?

The top concern for most first-time home buyers is their ability to save for a down payment. According to a new survey, 36% of millennials took on a second job to make their dreams of homeownership a reality in 2017.  Among millennials with incomes over $100,000 a year, the top ways to come up with the necessary funds were to sell stocks (20%) or to sell cryptocurrency (16%). The most popular method of savings was the most traditional; 60% of those saving for a down [...]

By |2018-11-21T05:00:30-06:00November 21st, 2018|Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Millennials|Comments Off on Will Your Side Hustle Buy You a House This Year?

The Cost of Renting vs. Buying a Home [INFOGRAPHIC]

Some Highlights: Historically, the choice between renting or buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (28.4%) vs. the percentage needed to buy a median-priced home (17.5%), the choice becomes obvious. Every market is different. Before you renew your lease again, find out if you can put your housing costs to work by buying this year!

By |2018-11-16T05:00:40-06:00November 16th, 2018|Buying Myths, First Time Home Buyers, For Buyers, Infographics, Rent vs. Buy|Comments Off on The Cost of Renting vs. Buying a Home [INFOGRAPHIC]

75% of Renters Have Been Misinformed

Recently, multiple headlines have been written asserting that homeownership is less affordable today than at any other time in the last decade. Though the headlines are accurate, they lack context and lead too many Americans to believe that they can’t partake in a major part of the American Dream – owning a home. In 2008, the housing market crashed and home values fell by as much as 60% in certain markets. This was the major trigger to the Great Recession we experienced from 2008 to [...]

By |2018-11-08T05:00:07-06:00November 8th, 2018|Buying Myths, First Time Home Buyers, For Buyers, Rent vs. Buy|Comments Off on 75% of Renters Have Been Misinformed