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4 REAL Reasons Why We Buy A Home!

We often talk about why it makes financial sense to buy a home, but more often than not, the emotional reasons are the more powerful or compelling ones. No matter what shape or size your living space is, the concept and feeling of home can mean different things to different people. Whether it’s a certain scent or a favorite chair, the emotional reasons why we choose to buy our own homes are typically more important to us than the financial ones. 1. Owning your home [...]

By |2018-07-17T04:00:13+00:00July 17th, 2018|First Time Home Buyers, For Buyers, Move-Up Buyers, Rent vs. Buy|Comments Off on 4 REAL Reasons Why We Buy A Home!

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

Rising Interest Rates Have Not Dampened Demand

Since the beginning of the year, mortgage interest rates have risen over a half of a percentage point (from 3.95% to 4.52%), according to Freddie Mac. Even a small rise in interest rates can greatly impact a buyer’s monthly mortgage payment. First American recently released the results of their quarterly Real Estate Sentiment Index (RESI), in which they surveyed title and real estate agents across the country about the impact of rising rates on first-time homebuyers. Real estate professionals around the country have not noticed [...]

By |2018-07-11T04:00:18+00:00July 11th, 2018|First Time Home Buyers, For Buyers, Interest Rates, Millennials, Move-Up Buyers|Comments Off on Rising Interest Rates Have Not Dampened Demand

Cost Across Time [INFOGRAPHIC]

Some Highlights: With interest rates still around 4.5%, now is a great time to look back at where rates have been over the last 40 years. Rates are projected to climb to 5.1% by this time next year according to Freddie Mac. The impact your interest rate makes on your monthly mortgage cost is significant! Lock in a low rate now while you can!

By |2018-07-06T04:00:11+00:00July 6th, 2018|First Time Home Buyers, For Buyers, Infographics, Interest Rates, Move-Up Buyers|Comments Off on Cost Across Time [INFOGRAPHIC]

Homes More Affordable Today than 1985-2000

Rising home prices have many concerned that the average family will no longer be able to afford the most precious piece of the American Dream – their own home. However, it is not just the price of a home that determines its affordability. The monthly cost of a home is determined by the price and the interest rate on the mortgage used to purchase it. Today, mortgage interest rates stand at about 4.5%. The average annual mortgage interest rate from 1985 to 2000 was almost [...]

By |2018-07-05T04:00:11+00:00July 5th, 2018|First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Pricing|Comments Off on Homes More Affordable Today than 1985-2000

VA Loans: Making a Home for the Brave Possible

Since the creation of the Veterans Affairs (VA) Home Loans Program, over 22 million veterans have achieved the American Dream of homeownership. Many veterans do not know the details of the program and therefore do not take advantage of the benefits available to them. If you are a veteran or you know someone who is, here is a breakdown of the VA Home Loan benefits that can be used to achieve the American Dream! Top 5 Benefits of a VA Home Loan The greatest benefit [...]

By |2018-07-04T04:00:17+00:00July 4th, 2018|First Time Home Buyers, For Buyers, Move-Up Buyers|Comments Off on VA Loans: Making a Home for the Brave Possible

Buying This Summer? Be Prepared for Bidding Wars

Summer is traditionally a busy season for real estate. Buyers come out in force and homeowners list their houses for sale hoping to capitalize on those buyers who are looking to purchase before the new school year. This year will be no different! Buyers have already been out in force looking for their dream homes and more are on their way. The challenge is that the inventory of homes for sale has not kept up with demand, which has led to A LOT of competition [...]

By |2018-07-02T04:00:33+00:00July 2nd, 2018|First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers|Comments Off on Buying This Summer? Be Prepared for Bidding Wars

5 Reasons Millennials Choose to Buy a Home [INFOGRAPHIC]

Some Highlights: “The majority of millennials said they consider owning a home more sensible than renting for both financial and lifestyle reasons — including control of living space, flexibility in future decisions, privacy and security, and living in a nice home.” The top reason millennials choose to buy is to have control over their living space, at 93%. Many millennials who rent a home or apartment prior to buying their own homes dream of the day when they will be able to paint the walls [...]

By |2018-06-29T04:00:38+00:00June 29th, 2018|First Time Home Buyers, For Buyers, Infographics, Millennials, Rent vs. Buy|Comments Off on 5 Reasons Millennials Choose to Buy a Home [INFOGRAPHIC]

Next Recession in 2020? What Will Be the Impact?

Economists and analysts know that the country has experienced economic growth for almost a decade. They also know that a recession can’t be too far off. A recent report by Zillow Research shed light on a survey conducted by Pulsenomics in which they asked economists, investment strategists and market analysts how they felt about the current housing market. That report revealed the possible timing of the next recession: “Experts largely expect the next recession to begin in 2020.” That timing concurs with a recent survey [...]

By |2018-06-28T04:00:25+00:00June 28th, 2018|For Buyers, For Sellers, Housing Market Updates, Pricing|Comments Off on Next Recession in 2020? What Will Be the Impact?