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There are many benefits to homeownership. One of the top benefits is being able to protect yourself from rising rents by locking in your housing cost for the life of your mortgage.Don’t Become Trapped Jonathan Smoke, Chief Economist at realtor.com, reported on what he calls a “Rental Affordability Crisis.” He warns that,“Low rental vacancies and a lack of new rental construction [...]
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.”At 93%, the top reason Millennials choose to buy is to have control over their living [...]
Some industry experts are claiming that the housing market may be headed for a slowdown as we proceed through 2017, based on rising home prices and a potential jump in mortgage interest rates. One of the data points they use is the Housing Affordability Index, as reported by the National Association of Realtors (NAR).Here is [...]
Traditionally, spring is the busiest season for real estate. Buyers come out in force and homeowners list their houses for sale hoping to capitalize on buyer activity. This year will be no different!Buyers have already been out in force looking for their dream homes and more are on their way, but the challenge is that [...]
A survey by Ipsos found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. There are two major misconceptions that we want to address today.1. Down PaymentThe survey revealed that consumers overestimate the down payment funds needed to qualify for a home loan. [...]
Some Highlights:The Federal Housing Finance Agency (FHFA) recently released their latest Quarterly Home Price Index report.In the report, home prices are compared both regionally and by state.Based on the latest numbers, if you plan on relocating to another state, waiting to move may end up costing you more!Alaska, Delaware, West Virginia & Wyoming were the only states where home [...]
The success of the housing market is strongly tied to the consumer’s confidence in the overall economy. For that reason, we believe 2017 will be a great year for real estate. Here is just a touch of the news coverage on the subject.HousingWire:“Consumers’ faith in the housing market is stronger than it’s ever been before, [...]
If your house no longer fits your needs and you are planning on buying a luxury home, now is a great time to do so! We recently shared data from Trulia’s Market Mismatch Study which showed that in today’s premium home market, buyers are in control. The inventory of homes for sale in the luxury market [...]
Self-made millionaire David Bach was quoted in a CNBC article explaining that "the single biggest mistake millennials are making" is not purchasing a home because buying real estate is "an escalator to wealth.”Bach went on to explain:"If millennials don't buy a home, their chances of actually having any wealth in this country are little to none. The average homeowner [...]
There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize 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 this month in [...]