Some Highlights: The choice between renting or buying a home in CT has been a tough decision. Looking at the percentage of income needed to rent a median-priced CT home today (29.2%) vs. the percentage needed to buy a median-priced home (15.8%), the choice becomes obvious. Before you renew your l
...
06/29/2017
In Realtor.com’s recent article, “Home Buyers’ Top Mortgage Fears: Which One Scares You?” they mention that “46% of potential home buyers fear they won’t qualify for a mortgage to the point that they don’t even try.”Myth #1: “I Need a 20% Down Payment”CT buyers overestimate the down payment funds
...
06/29/2017
I often discuss the difference in family wealth between homeowner households and renter households in CT. Much of that difference is the result of the equity buildup that CT homeowners experience over the time that they own their home. In a report recently released by the nonpartisan Employee Ben
...
06/28/2017
Many Real Estate economists have called on new home builders to ramp up production to help relieve the shortage of inventory of homes for sale in CT. The added inventory would no doubt aid buyers in their search to secure their dream home, while also helping to ease price increases throughout th
...
06/27/2017
CoreLogic’s latest Equity Report revealed that many properties in CT regained equity in the first quarter of 2017. This is great news, since most of the mortgaged properties are now in a positive equity situation.Price Appreciation = Good News for CT HomeownersFrank Nothaft, CoreLogic’s Chief Eco
...
06/26/2017
The results of the latest Rent vs. Buy Report from Trulia show that CT homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage.Interesting findings in the report include: CT interest rates have remained low and, even though home prices have appreciated around th
...
06/22/2017
As CT home values continue to rise, some are questioning whether we are approaching another housing bubble. Zillow just reported that:“National home values have surpassed the peak hit during the housing bubble and are at their highest value in more than a decade.”Though that statement is correct,
...
06/21/2017
In a blog post published last Friday, CNBC’s Diana Olnick reported on the latest results of the FAU Buy vs. Rent Index. The index examines the entire CT housing market. The researchers at FAU use a “‘horse race’ comparison between an individual that is buying a home and an individual that rents a
...
06/20/2017
According to a recent report by Trulia, “buying is cheaper than renting by an average of 33.1%.” The report may have some people thinking about buying a CT home instead of signing another lease extension, but does that make sense from a financial perspective?Ralph McLaughlin, Trulia’s Chief Econo
...
06/19/2017
Here are four great reasons to consider buying a CT home today, instead of waiting. 1. Prices Will Continue to Rise CoreLogic’s latest Home Price Index reports that home prices have appreciated by 7.1% over the last 12 months. The same report predicts that prices will continue to increase at a r
...
06/16/2017
