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Top 3 Myths About Today’s Real Estate Market

There are many conflicting headlines when it comes to describing today’s real estate market. Some are making comparisons to the market we experienced 10 years ago and are starting to believe that we may be doomed to repeat ourselves. Others are just plain wrong when it comes to what it takes to qualify for a mortgage. Today, we want to try and clear the air by shedding some light on what’s causing some of these headlines, as well as what’s truly going on. Myth #1: [...]

By |2018-08-29T04:00:30+00:00August 29th, 2018|First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers|Comments Off on Top 3 Myths About Today’s Real Estate Market

Home Sales Expected to Continue Increasing in 2019

Freddie Mac, Fannie Mae, and the Mortgage Bankers Association are all projecting that home sales will increase nicely in 2019. Below is a chart depicting the projections of each entity for the remainder of 2018, as well as for 2019. As we can see, Freddie Mac, Fannie Mae, and the Mortgage Bankers Association all believe that homes sales will increase steadily over the next year. If you are a homeowner who has considered selling your house recently, now may be the best time to put it on the market.

By |2018-08-28T04:00:51+00:00August 28th, 2018|For Sellers, Housing Market Updates, Move-Up Buyers|Comments Off on Home Sales Expected to Continue Increasing in 2019

Rent or Buy: Either Way You’re Paying A Mortgage!

There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s. As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich”: “While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about [...]

By |2018-08-27T04:00:38+00:00August 27th, 2018|First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers, Rent vs. Buy|Comments Off on Rent or Buy: Either Way You’re Paying A Mortgage!

What State Gives You the Most ‘Bang for Your Buck’? [INFOGRAPHIC]

Some Highlights: The majority of states in the Midwest and South offer a lower cost of living than states in the Northeast and West. The ‘biggest bang for your buck’ comes in Mississippi where, compared to the national average, you can actually purchase $115.74 worth of goods for $100. For more information regarding the methodology used to create this map, visit the Tax Foundation.

By |2018-08-24T04:00:06+00:00August 24th, 2018|For Buyers, For Sellers, Infographics, Move-Up Buyers|Comments Off on What State Gives You the Most ‘Bang for Your Buck’? [INFOGRAPHIC]

What Does the Recent Rash of Price Reductions Mean to the Real Estate Market?

Last week, in a new report from Zillow, it was revealed that there has been a rash of price reductions across the country. According to the report: There are more price cuts now than a year ago in over two-thirds of the nation’s largest metros About 14% of all listings had a price cut in June Since the beginning of the year, the share of listings with a price cut increased 1.2% This is the greatest January-to-June increase ever reported, and more than double the [...]

By |2018-08-23T04:00:42+00:00August 23rd, 2018|For Sellers, Housing Market Updates, Move-Up Buyers, Pricing|Comments Off on What Does the Recent Rash of Price Reductions Mean to the Real Estate Market?

Having Trouble Saving Enough for Your Down Payment? Crowdfund It!

You read that right! First-time buyers across the country are getting creative when it comes to saving the necessary down payment to buy a home. Many couples are asking their wedding guests to contribute to their “Down Payment Fund” rather than fulfilling a traditional registry. This is fueled by the fact that many couples live together prior to marriage and already have the necessary items to make a house a home…they just need the house! The average wedding in the United States has 120 guests [...]

By |2018-08-22T04:00:35+00:00August 22nd, 2018|Down Payments, First Time Home Buyers, For Buyers, Millennials, Move-Up Buyers|Comments Off on Having Trouble Saving Enough for Your Down Payment? Crowdfund It!

The Net Worth of a Homeowner is 44x Greater Than A Renter!

Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. Their latest survey data, covering 2013-2016 was recently released. The study revealed that the median net worth of a homeowner was $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 [...]

By |2018-08-20T04:00:18+00:00August 20th, 2018|First Time Home Buyers, For Buyers, Move-Up Buyers, Rent vs. Buy|Comments Off on The Net Worth of a Homeowner is 44x Greater Than A Renter!

Housing Market: Another Gigantic Difference Between 2008 and 2018

Some are attempting to compare the current housing market to the market leading up to the “boom and bust” that we experienced a decade ago. They look at price appreciation and conclude that we are on a similar trajectory, speeding toward another housing crisis. However, there is a major difference between the two markets. Last decade, while demand was being artificially created by extremely loose lending standards, a tremendous amount of inventory was coming to the market to satisfy that demand. Below is a graph [...]

By |2018-08-16T04:00:58+00:00August 16th, 2018|First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers|Comments Off on Housing Market: Another Gigantic Difference Between 2008 and 2018

Homebuyers Willing to Sacrifice ‘Must-Haves’ in Favor of Good School Districts

It should come as no surprise that buying a home in a good school district is important to homebuyers. According to a report from Realtor.com, 86% of 18-34 year-olds and 84% of those aged 35-54 indicated that their home search areas were defined by school district boundaries. What is surprising, however, is that 78% of recent homebuyers sacrificed features from their “must-have” lists in order to find homes within their dream school districts. The top feature sacrificed was a garage at 19%, followed closely by [...]

By |2018-08-15T04:00:06+00:00August 15th, 2018|First Time Home Buyers, For Buyers, Generation X, Millennials, Move-Up Buyers|Comments Off on Homebuyers Willing to Sacrifice ‘Must-Haves’ in Favor of Good School Districts

Have You Outgrown Your Starter Home?

For many Americans, buying their first home is their first taste of achieving part of the American Dream. There is a sense of pride that comes along with owning your own home and building your family’s wealth through your monthly mortgage payment. It may seem hard to imagine that the first home you purchased (which made your dreams come true) might not be the home that will allow you to achieve the rest of your dreams. The good news is that it’s ok to admit [...]

By |2018-08-14T04:00:59+00:00August 14th, 2018|For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers|Comments Off on Have You Outgrown Your Starter Home?