This time of year, many people eagerly check their mailboxes looking for their tax return check from the IRS. But, what do most people plan to do with the money? GO Banking Rates recently surveyed Americans and asked the question - “What do you plan on doing with your tax refund?”The results of the survey [...]
Real Estate mogul, Sean Conlon, host of The Deed: Chicago on CNBC, was recently asked the question, should you buy? Or should you rent a house?Conlon responded:“I am a true believer that you save every penny and you buy your first house… and that is still the fastest path to wealth in this country.”Conlon went [...]
In school, we all learned the theory of supply and demand. When the demand for an item is greater than the supply of that item, the price will surely rise.SUPPLYThe National Association of Realtors (NAR) recently reported that the inventory of homes for sale stands at a 3.8-month supply. This is considerably lower than the 6-month supply necessary for [...]
Saving for a down payment is often the biggest hurdle for a first-time homebuyer. Depending on where you live, median income, median rents, and home prices all vary. So, we set out to find out how long would it take you to save for a down payment in each state?Using data from the United States [...]
Some Highlights:Interest rates are still below historic numbers.88% of property managers raised their rent in the last 12 months!The credit score requirements for mortgage approval continue to fall.
Many Americans got some depressing news last week; either their tax return was not as large as they had hoped or, in some cases, they were told they owed additional money to either the Federal or State government or both. One way to save on taxes is to own your own home.According to the Tax [...]
Forbes.com recently released the results of their new American Dream Index, in which they measure “the prosperity of the middle class, and…examine which states best support the American Dream.”The monthly index measures several different economic factors, including goods-producing employment, personal and commercial bankruptcies, building permits, startup activity, unemployment insurance claims, labor force participation, and layoffs.The [...]
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 [...]
If you thought about selling your house this year, now may be the time to do it. The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned the concept of supply and demand: the best time to sell something is [...]
Some Highlights:‘Millennials’ are defined as 18-36 year olds according to the US Census Bureau.According to NAR’s latest Profile of Home Buyers & Sellers, the median age of all first-time home buyers is 31 years old.More and more ‘Old Millennials’ (25-36 year olds) are realizing that homeownership is within their reach now!