Auto Added by WPeMatico

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%!

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]

When Is a Good Time to Rent? Not Now!

People often ask if now is a good time to buy a home, but nobody ever asks whether or not it’s a good time to rent. Regardless, we want to make certain that everyone understands that now is NOT a good time to rent. The Census Bureau recently released their 2018 first quarter median rent numbers. According to their report, here is a graph showing rent increases from 1988 until today:   As you can see, rents have steadily increased and are showing no signs of slowing down. If [...]

By |2018-06-12T04:00:31+00:00June 12th, 2018|First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Rent vs. Buy|Comments Off on When Is a Good Time to Rent? Not 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]

Renters Under 50 Want to Buy a Home!

Every year, the New York Federal Reserve publishes the results of their Survey of Consumer Expectations (SCE). Each survey covers a wide range of topics including inflation, labor market, household finance, credit access and housing. One of the many questions asked in the housing section of the survey was: Assuming you had the financial resources to do so, would you like to OWN instead of RENT your primary residence? Over three-quarters of respondents under the age of 50 said that they would prefer to own [...]

By |2018-05-16T04:00:12+00:00May 16th, 2018|First Time Home Buyers, For Buyers, Housing Market Updates, Millennials, Rent vs. Buy|Comments Off on Renters Under 50 Want to Buy a Home!

Homeownership: “A Man Is Not a Complete Man, Unless He Owns a House”

The famous quote by Walt Whitman, “A man is not a whole and complete man, unless he owns a house and the ground it stands on,” can be used to describe homeownership in America today. The Census revealed that the percentage of homeowners in America has been steadily climbing back up since hitting a 50-year low in 2016. The homeownership rate in the first quarter of 2018 was 64.2%, higher than last year’s 63.6%. Chief Economist, Dr. Ralph McLaughlin, in his VUE Blog gave these new homeownership numbers [...]

By |2018-05-14T04:00:02+00:00May 14th, 2018|First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Rent vs. Buy|Comments Off on Homeownership: “A Man Is Not a Complete Man, Unless He Owns a House”

Real Estate Tops Best Investment Poll for 5th Year Running

Every year, Gallup surveys Americans to determine their choice for the best long-term investment. Respondents are given a choice between real estate, stocks/mutual funds, gold, savings accounts/CDs, or bonds. For the fifth year in a row, real estate has come out on top as the best long-term investment! This year’s results showed that 34% of Americans chose real estate, followed by stocks at 26%. The full results are shown in the chart below. The study makes it a point to draw attention to the contrast [...]

By |2018-05-09T04:00:15+00:00May 9th, 2018|First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers, Rent vs. Buy|Comments Off on Real Estate Tops Best Investment Poll for 5th Year Running

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

US Housing Market Still In ‘Buy Territory’!

According to the Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, the U.S. housing market has continued to move deeper into buy territory, supporting the belief that housing markets across the country remain a sound investment. The BH&J Index is a quarterly report that attempts to answer the question: In today’s housing market, is it better to rent or buy a home? The index examines the entire US housing market and then isolates 23 major cities for comparison. The researchers “measure the relationship between purchasing property and building [...]

By |2018-04-09T04:00:22+00:00April 9th, 2018|First Time Home Buyers, For Buyers, Move-Up Buyers, Rent vs. Buy|Comments Off on US Housing Market Still In ‘Buy Territory’!