Why Home Prices Are Increasing

By |2020-05-15T13:36:57-07:00April 30th, 2018|Categories: Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Pricing, Real Estate|

There are many unsubstantiated theories as to why home values are continuing to increase. From those who are worried that lending standards are again becoming too lenient (data shows this is untrue), to those who are concerned that prices are again approaching boom peaks because of “irrational exuberance” (this is also untrue as prices are not at peak [...]

Existing Home Sales Grow Despite Low Inventory [INFOGRAPHIC]

By |2018-04-27T10:00:37-07:00April 27th, 2018|Categories: First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Infographics, Move-Up Buyers, Real Estate|

Some Highlights: According to the latest Existing Home Sales Report from the National Association of Realtors, sales grew 1.1% in March to an annual pace of 5.60 million. This is the strongest pace since November of 2017. Inventory levels dropped year-over-year for the 34th consecutive month and are now 7.2% lower than March 2017 levels, [...]

“Short of a war or stock market crash…”

By |2020-05-15T13:36:57-07:00April 26th, 2018|Categories: First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers, Pricing, Real Estate|

This month, Arch Mortgage Insurance released their spring Housing and Mortgage Market Review. The report explained that an increase in mortgage rates and/or home prices would impact monthly payments this way: A 5% increase in home prices increases payments by roughly 5% A 1% rise in interest rates increases payments by roughly 13% or 14% [...]

New Study Shows ‘Best States for Millennials’

By |2020-05-15T13:36:57-07:00April 25th, 2018|Categories: First Time Home Buyers, For Buyers, Millennials, Real Estate|

A new study by WalletHub used “30 key metrics, ranging from share of millennials to millennial unemployment rate to millennial voter-turnout rate” to find out which states are the ‘Best States for Millennials.’ The Top 5 Best States for Millennials are: Washington, D.C. (also ranks highest in percentage of millennials already living there!) North Dakota [...]

Thinking of Selling Your Home? Why You Need A Pro in Your Corner

By |2020-05-15T13:36:58-07:00April 24th, 2018|Categories: For Sellers, FSBO's, Move-Up Buyers, Real Estate|

With home prices on the rise and buyer demand strong, some sellers may be tempted to try and sell their homes on their own (FSBO) without using the services of a real estate professional. Real estate agents are trained and experienced in negotiation and, in most cases, the seller is not. Sellers must realize that [...]

Buying a Home Is Cheaper Than Renting in the Majority of the US

By |2018-04-23T10:00:24-07:00April 23rd, 2018|Categories: Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Real Estate, Rent vs. Buy|

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 [...]

Is Family Mortgage Debt Out of Control?

By |2020-05-15T13:36:58-07:00April 19th, 2018|Categories: First Time Home Buyers, For Buyers, For Sellers, Interest Rates, Move-Up Buyers, Real Estate|

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 [...]

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

By |2020-05-15T13:36:58-07:00April 18th, 2018|Categories: First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers, Real Estate|

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 [...]

Rising Prices Help You Build Your Family’s Wealth

By |2018-04-17T10:00:48-07:00April 17th, 2018|Categories: First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers, Real Estate|

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 [...]

Getting Pre-Approved Should Always Be Your First Step

By |2018-04-16T10:00:36-07:00April 16th, 2018|Categories: Buying Myths, First Time Home Buyers, For Buyers, Move-Up Buyers, Real Estate|

In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a [...]