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A Great Way to Increase Your Family’s Net Worth

Every three years, the Federal Reserve conducts its Survey of Consumer Finances. Data is collected across all economic and social groups. The latest survey data covers 2013-2016. The study revealed that the median net worth of a homeowner is $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013). These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter. Owning [...]

By |2019-08-19T04:00:09-06:00August 19th, 2019|First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Rent vs. Buy|Comments Off on A Great Way to Increase Your Family’s Net Worth

Busting the Myth About a Housing Affordability Crisis

It seems you can’t find a headline with the term “housing affordability” without the word “crisis” attached to it. That’s because some only consider the fact that residential real estate prices have continued to appreciate. However, we must realize it’s not just the price of a home that matters, but the price relative to a purchaser’s buying power. Homes, in most cases, are purchased with a mortgage. The current mortgage rate is a major component of the affordability equation. Mortgage rates have fallen by over [...]

By |2019-08-15T04:00:33-06:00August 15th, 2019|Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Selling Myths|Comments Off on Busting the Myth About a Housing Affordability Crisis

American Confidence in Housing at an All-Time High

Fannie Mae just released the July edition of their Home Purchase Sentiment Index (HPSI). The HPSI takes information regarding consumers’ confidence in the real estate market from Fannie Mae’s National Housing Survey and condenses it into a single number. Therefore, the HPSI reflects consumers’ current views and forward-looking expectations of housing market conditions. Great News! The index reached its highest level since Fannie Mae began their survey. Breaking it down, the report revealed: The share of Americans who say it is a good time to [...]

By |2019-08-12T04:00:08-06:00August 12th, 2019|First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers|Comments Off on American Confidence in Housing at an All-Time High

Rent Vs. Own [INFOGRAPHIC]

Some Highlights: Owning your own home vs. renting may lead to some great options, such as locking in your monthly payments and having the freedom to customize your living space. Whether you rent or own, you have to cover someone’s mortgage costs. You may as well be doing so to build your own wealth, rather than that of your landlord. Renting and owning both have up-front fees when you sign your lease or close, respectively. Think about putting that money to work for you!  

By |2019-08-09T04:00:09-06:00August 9th, 2019|Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Infographics, Move-Up Buyers, Rent vs. Buy|Comments Off on Rent Vs. Own [INFOGRAPHIC]

Why All the Chicken Littles Should Calm Down

The U.S. Census Bureau recently released their 2019 Q2 Homeownership Report. Some began to see the sky falling, believing the report showed Americans may be stepping back from their belief in homeownership. The national homeownership rate (Americans who owned vs. rented their primary residence) increased significantly during the housing boom, reaching its peak of 69.2% in 2004. The Census Bureau reported that the second quarter of 2019 ended with a homeownership rate of 64.1%, which is down from the 64.8% rate for the fourth quarter of [...]

By |2019-08-08T04:00:25-06:00August 8th, 2019|Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Selling Myths|Comments Off on Why All the Chicken Littles Should Calm Down

Appreciation Is Strong: It Might Be Time to Sell

There’s no doubt that today’s housing market is changing, and everything we see right now indicates it is time to sell. Here’s a look at why selling now is likely to drive the greatest return on your largest investment. Home values have been appreciating for several years now, growing at a strong, steady, and impressive pace. In fact, the average annual appreciation rate since 2012 has nearly doubled the average rate from the more normal market of the 1990s (think: pre-bubble).Appreciation, however, is projected to [...]

By |2019-08-07T04:00:43-06:00August 7th, 2019|First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Selling Myths|Comments Off on Appreciation Is Strong: It Might Be Time to Sell

How Much Do You Know About Down Payments?

Whether you’ve owned a home before, or you’re ready to jump into homeownership for the first time, there are always a lot of questions swirling around about what is truly required for a down payment, and how to best source down payment assistance. Let’s tackle these two today. 1. How much do you really need for a down payment? There is a long-standing misconception about down payment requirements. A survey from Fannie Mae shows only 17% of consumers know the minimum options are actually between [...]

By |2019-08-06T04:00:55-06:00August 6th, 2019|Buying Myths, Down Payments, First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers|Comments Off on How Much Do You Know About Down Payments?

Millionaire to Millennials: The Costly Mistake of Not Buying Now

On his personal website, self-made millionaire David Bach makes a striking statement:  “Not prioritizing homeownership is the single biggest mistake millennials are making.”  He further stated, “Buying a home is an escalator to wealth.” Bach explains: “Young adults in particular aren’t hopping on this escalator, and it’s a costly mistake…If millennials don’t buy a home, their chances of actually having any wealth in this country are little to none.” He then elaborates on the game of homeownership: “Start by crunching the numbers…actually do the math…This way, you’re [...]

By |2019-08-05T04:00:45-06:00August 5th, 2019|Buying Myths, Demographics, First Time Home Buyers, For Buyers, For Sellers, Millennials, Move-Up Buyers, Rent vs. Buy|Comments Off on Millionaire to Millennials: The Costly Mistake of Not Buying Now

Existing Home Sales Point Toward a Good Time to Sell [INFOGRAPHIC]

Some Highlights: Existing Home Sales dropped 1.7% from May to a seasonally adjusted annual rate of 5.27 million in June. Low inventory levels are still a factor in the market. The current supply of homes for sale is at 4.4 months, which is less than the optimal 6-month supply. Median home prices were up 4.3% from June 2018, hitting $285,700. This marked the 88th consecutive month with year-over-year price gains.

By |2019-08-02T04:00:50-06:00August 2nd, 2019|First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Infographics, Move-Up Buyers|Comments Off on Existing Home Sales Point Toward a Good Time to Sell [INFOGRAPHIC]

How to Judge the Impact of the Next Economic Slowdown on Housing

We’ve experienced economic growth for almost a decade, which is the longest recovery in the nation’s history. Experts know a recession can’t be too far off, but when will this economic slowdown actually occur? Pulsenomics just released a special report revealing that nearly 6 out of 10 of the 90 economists, investment strategists, and market analysts surveyed believe the next recession will occur by the end of next year. Here’s the breakdown: 9% believe a recession will occur this year 50% believe it will occur [...]

By |2019-08-01T04:00:35-06:00August 1st, 2019|Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Selling Myths|Comments Off on How to Judge the Impact of the Next Economic Slowdown on Housing