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5 Real Estate Reality TV Myths Explained

Have you ever been flipping through the channels, only to find yourself glued to the couch in an HGTV binge session? We’ve all been there, watching entire seasons of “Love it or List it,” “Million Dollar Listing,” “House Hunters,” “Property Brothers,” and so many more all in one sitting. When you’re in the middle of your real estate themed show marathon, you might start to think that everything you see on TV must be how it works in real life, but you may need a reality check. [...]

By |2018-08-21T04:00:12+00:00August 21st, 2018|Buying Myths, For Buyers, For Sellers, Selling Myths|Comments Off on 5 Real Estate Reality TV Myths Explained

Buying Is Now 26.3% Cheaper Than Renting in the US

The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting, with a traditional 30-year fixed rate mortgage, in 98 of the 100 largest metro areas in the United States. In the six years that Trulia has conducted this study, this is the first time that it was cheaper to rent than buy in any of the metropolitan areas. It’s no surprise, however, that those two metros are San Jose and San Francisco, CA, where median home prices have jumped to [...]

By |2018-08-01T04:00:23+00:00August 1st, 2018|Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Rent vs. Buy|Comments Off on Buying Is Now 26.3% Cheaper Than Renting in the US

What You Need to Know About the Mortgage Process [INFOGRAPHIC]

Some Highlights: Many buyers are purchasing a home with a down payment as little as 3%. You may already qualify for a loan, even if you don’t have perfect credit. Take advantage of the knowledge of your local professionals who are there to help you determine how much you can afford.

By |2018-07-20T04:00:55+00:00July 20th, 2018|Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Infographics, Move-Up Buyers|Comments Off on What You Need to Know About the Mortgage Process [INFOGRAPHIC]

First-Time Home Buyers Continue to Put Down Less Than 6%!

According to the Realtors Confidence Index from the National Association of Realtors, 61% of first-time homebuyers purchased their homes with down payments below 6% in 2017. Many potential homebuyers believe that a 20% down payment is necessary to buy a home and have disqualified themselves without even trying, but in March, 71% of first-time buyers and 54% of all buyers put less than 20% down. Ralph McLaughlin, Chief Economist and Founder of Veritas Urbis Economics, recently shed light on why buyer demand has remained strong, [...]

By |2018-07-16T04:00:02+00:00July 16th, 2018|Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Rent vs. Buy|Comments Off on First-Time Home Buyers Continue to Put Down Less Than 6%!

House-Buying Power at Near-Historic Levels

We keep hearing that home affordability is approaching crisis levels. While this may be true in a few metros across the country, housing affordability is not a challenge in the clear majority of the country. In their most recent Real House Price Index, First American reported that consumer “house-buying power” is at “near-historic levels.” Their index is based on three components: Median Household Income Mortgage Interest Rates Home Prices The report explains: “Changing incomes and interest rates either increase or decrease consumer house-buying power or [...]

By |2018-07-12T04:00:20+00:00July 12th, 2018|Buying Myths, First Time Home Buyers, For Buyers, Move-Up Buyers, Pricing|Comments Off on House-Buying Power at Near-Historic Levels

You DO NOT Need 20% Down to Buy Your Home NOW!

The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. The results of the survey show that the main reason why non-homeowners do not own their own homes is because they believe that they cannot afford them. This brings us to two major misconceptions that we want to address today. 1. Down Payment A recent survey by Laurel Road, the National Online Lender [...]

By |2018-06-25T04:00:18+00:00June 25th, 2018|Buying Myths, Down Payments, First Time Home Buyers, For Buyers|Comments Off on You DO NOT Need 20% Down to Buy Your Home NOW!

The Cost of Renting vs. Buying [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 (28.8%) vs. the percentage needed to buy a median-priced home (17.1%), 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 |2018-06-08T04:00:33+00:00June 8th, 2018|Buying Myths, First Time Home Buyers, For Buyers, Infographics, Rent vs. Buy|Comments Off on The Cost of Renting vs. Buying [INFOGRAPHIC]

Why Home Prices Are Increasing

There are many unsubstantiated theories as to why home values are continuing to increase. From those who are worried that lending standards are again becoming too lenient (data shows this is untrue), to those who are concerned that prices are again approaching boom peaks because of “irrational exuberance” (this is also untrue as prices are not at peak levels when they are adjusted for inflation), there seems to be no shortage of opinion. However, the increase in prices is easily explained by the theory of supply & demand. Whenever there [...]

By |2018-04-30T04:00:29+00:00April 30th, 2018|Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Pricing|Comments Off on Why Home Prices Are Increasing

Buying a Home Is Cheaper Than Renting in the Majority of the US

The results of the 2018 Rental Affordability Report from ATTOM show that buying a median-priced home is more affordable than renting a three-bedroom property in 54% of U.S. counties analyzed for the report. The updated numbers show that renting a three-bedroom property in the United States requires an average of 38.8% of income. The least affordable market for renting was Marin County, CA, just over the Golden Gate Bridge from San Francisco, where renters spend a staggering 79.5% of average wages on rent, while the most affordable market [...]

By |2018-04-23T04:00:24+00:00April 23rd, 2018|Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Rent vs. Buy|Comments Off on Buying a Home Is Cheaper Than Renting in the Majority of the US

Home Buying Myths Slayed [INFOGRAPHIC]

Some Highlights: The average down payment for first-time homebuyers is only 6%! Despite mortgage interest rates being over 4%, rates are still below historic numbers. 88% of property managers raised their rents in the last 12 months! The credit score requirements for mortgage approval continue to fall.

By |2018-04-20T04:00:20+00:00April 20th, 2018|Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Infographics, Interest Rates, Move-Up Buyers|Comments Off on Home Buying Myths Slayed [INFOGRAPHIC]