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People often ask if now is a good time to buy a home. No one ever asks when a good time to rent is. However, we want to make certain that everyone understands that today is NOT a good time to rent.The Census Bureau recently released their third quarter median rent numbers. Here is a [...]
Some Highlights:The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report.First-time homebuyers made up 33% of all sales in October.Homes are selling quickly with 43% of homes on the market for less than a month.A limited supply continues to drive up prices for the 56th consecutive month.Powered by WPeMatico
The housing crisis is finally in the rearview mirror as the real estate market moves down the road to a complete recovery. Home values are up, home sales are up, and distressed sales (foreclosures & short sales) are at their lowest mark in over 8 years. This has been, and will continue to be, a [...]
We all realize that the best time to sell anything is when demand is high and the supply of that item is limited. The last two major reports issued by the National Association of Realtors (NAR) revealed information that suggests that now continues to be a great time to sell your house.Let’s look at the data covered [...]
According to the Census Bureau, millennials have overtaken baby boomers as the largest generation in U.S. History. Millennials, or America's youth born between 1982-2000, now represent more than one quarter of the nation’s population, totaling 83.1 million.There has been a lot of talk about how, as a generation, millennials have ‘failed to launch’ into adulthood [...]
The National Association of Realtors (NAR) keeps historic data on many aspects of homeownership. One of the data points that has changed dramatically is the median tenure of a family in a home. As the graph below shows, for over twenty years (1985-2008), the median tenure averaged exactly six years. However, since 2008, that average [...]
There has been a lot of talk about the falling homeownership rate in the United States. In December 2004, the homeownership rate reached an all-time high of 69.4%, while the current rate is 62.9%. When comparing these two figures, there is some room for concern regarding the difference.However, today we want to shine some light [...]
Some Highlights:Distressed property sales fell to its lowest number since NAR began tracking it in 2008.As you can see, with less distressed properties, sales are up in all price ranges except the $0 - $100K price range.Interest rates are still at historic lows, signifying that now is the right time to buy!Powered by WPeMatico
Some Highlights:Historically, the choice between renting or buying a home has been a close decision.Looking at the percentage of income needed to rent a median priced home today (30%) vs. the percentage needed to buy a median priced home (15%), the choice becomes obvious.Every market is different. Before you renew your lease again, find out [...]
CoreLogic released their most current Home Price Index last week. In the report, they revealed home appreciation in three categories: percentage appreciation over the last year, over the last month and projected over the next twelve months.Here are state maps for each category: The Past – home appreciation over the last 12 monthsThe Present – home appreciation over the last monthThe Future – [...]