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Is Family Mortgage Debt Out of Control?

Some homeowners have recently done a “cash out” refinance and have taken a portion of their increased equity from their house. Others have sold their homes and purchased more expensive homes with larger mortgages. At the same time, first-time buyers have become homeowners and now have mortgage payments for the first time. These developments have caused concern that families might be reaching unsustainable levels of mortgage debt. Some are worried that we may be repeating a behavior that helped precipitate the housing crash ten years [...]

By | 2018-04-19T04:00:41+00:00 April 19th, 2018|First Time Home Buyers, For Buyers, For Sellers, Interest Rates, Move-Up Buyers|Comments Off on Is Family Mortgage Debt Out of Control?

How Much Do You Need to Make to Buy a Home in Your State?

It’s no mystery that cost of living varies drastically depending on where you live, so a new study by GOBankingRates set out to find out what minimum salary you would need to make in order to buy a median-priced home in each of the 50 states, and Washington, D.C. States in the Midwest came out on top as most affordable, requiring the smallest salaries in order to buy a median-priced home. States with large metropolitan areas saw a bump in the average salary needed to [...]

By | 2018-04-18T04:00:14+00:00 April 18th, 2018|First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers|Comments Off on How Much Do You Need to Make to Buy a Home in Your State?

Rising Prices Help You Build Your Family’s Wealth

Over the next five years, home prices are expected to appreciate, on average, by 3.6% per year and to grow by 18.2% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey. So, what does this mean for homeowners and their equity position? As an example, let’s assume a young couple purchased and closed on a $250,000 home this January. If we only look at the projected increase in the price of that home, how much equity will they earn over the next 5 years? Since the experts predict [...]

By | 2018-04-17T04:00:48+00:00 April 17th, 2018|First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers|Comments Off on Rising Prices Help You Build Your Family’s Wealth

A Tale of Two Markets [INFOGRAPHIC]

  Some Highlights: A trend that has been emerging for some time now is the contrast between inventory & demand in the Premium & Luxury Markets vs. the Starter & Trade-Up Home Markets and what that’s, in turn, doing to prices! Inventory continues to rise in the luxury & premium home markets which is causing prices to cool. Demand continues to rise with low inventory in the starter & trade-up home markets, causing prices to rise!

By | 2018-04-13T04:00:51+00:00 April 13th, 2018|First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Infographics, Move-Up Buyers|Comments Off on A Tale of Two Markets [INFOGRAPHIC]

The COST of Your Next Home Will Be LESS Than Your Parents’ Home Was

There is no doubt that the price of a home in most regions of the country is greater now than at any time in history. However, when we look at the cost of a home, it is cheaper to own today than it has been historically. The Difference Between PRICE and COST The price of a home is the dollar amount you and the seller agree to at the time of purchase. The cost of a home is the monthly expense you pay for your [...]

By | 2018-04-12T04:00:28+00:00 April 12th, 2018|First Time Home Buyers, For Buyers, For Sellers, Interest Rates, Move-Up Buyers|Comments Off on The COST of Your Next Home Will Be LESS Than Your Parents’ Home Was

Mortgage Interest Rates Have Begun to Level Off

Whether you are a buyer searching for your first home, or a homeowner looking to move up to your next home, you should pay attention to where mortgage interest rates are heading. Over the course of 2018, according to Freddie Mac’s Primary Mortgage Market Survey, rates have increased from 3.95% in the first week of January to 4.40% in the first week of April. At first glance, the difference between these numbers in such a short amount of time could be concerning, but if we [...]

By | 2018-04-11T04:00:44+00:00 April 11th, 2018|First Time Home Buyers, For Buyers, For Sellers, Interest Rates, Move-Up Buyers|Comments Off on Mortgage Interest Rates Have Begun to Level Off

House Prices: Simply a Matter of Supply & Demand

Why are home prices still rising? It is a simple answer. There are more purchasers in the market right now than there are available homes for them to buy. This is an example of the theory of “supply and demand” which is defined as: “the amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price.” When demand exceeds supply, prices go up. This is currently happening in the residential real estate market. Here are [...]

By | 2018-04-05T04:00:25+00:00 April 5th, 2018|For Buyers, For Sellers, Housing Market Updates, Pricing|Comments Off on House Prices: Simply a Matter of Supply & Demand

99% of Experts Agree: Home Prices Will Increase

Some believe that the combined effects of the new tax code and rising mortgage rates will have an adverse impact on residential real estate prices in 2018. However, the clear majority of recently surveyed housing experts believe that home values will continue to rise this year. What is the Home Price Expectation Survey? Each quarter, Pulsenomics surveys a nationwide panel of economists, real estate experts and investment & market strategists. Those surveyed include experts such as: Daniel Bachman, Senior Manager, U.S. Economics at Deloitte Services, [...]

By | 2018-03-29T04:00:49+00:00 March 29th, 2018|For Buyers, For Sellers, Housing Market Updates, Pricing|Comments Off on 99% of Experts Agree: Home Prices Will Increase

Buyer Demand Still Outpacing the Supply of Homes for Sale

The price of any item is determined by the supply of that item, as well as market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index. Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand). Buyer Demand The map below was created after asking the question: “How would you rate buyer traffic in your area?” The darker the blue, the stronger the demand for homes [...]

By | 2018-03-27T04:00:39+00:00 March 27th, 2018|For Buyers, For Sellers|Comments Off on Buyer Demand Still Outpacing the Supply of Homes for Sale

5 Reasons Why to Sell This Spring!

Here are five reasons listing your home for sale this spring makes sense. 1. Demand Is Strong The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase…and are in the market right now! More often than not, multiple buyers are competing with each other to buy a home. Take advantage of the buyer activity currently in the market. 2. There [...]

By | 2018-03-26T04:00:44+00:00 March 26th, 2018|For Buyers, For Sellers, Move-Up Buyers|Comments Off on 5 Reasons Why to Sell This Spring!