Renters Grow More Optimistic About

Home Buying ... "Here Comes the Sun"

 

 

 

 

      I just thought this song perfectly set the tone for my post's message today. Always a favorite song (and performer) of mine too.

 
 
      I feel, what better than the line ... "it's been a long, cold, lonely winter", to correctly describe exactly what the housing market has been suffering through these last few years??
 
 
      But the timely, good news now being reported more and more often is this:  Many housing markets across the U.S. are seeing signs of improvement.   And that positive message is conveyed perfectly within this song, as well.  "Here Comes the Sun" ... better times are possibly ahead ...
 
 
 
      A recent survey released via  PulteGroup, proves that a large percentage of Americans still hope to join the ranks of those that call themselves ... "home owner". And they hope to do it sooner than later.
 
 
      What does this  Pulte Group/Russell Research survey's statistics tell us? In part, that:
 
 
  • 60% of renters who say they WANT to buy a home in the future, have increased their intent to buy compared to tho percentage of those reporting that intent a year ago.
  • 61% of the above-group now say they plan to purchase their home within the coming two years.
 
     
     The biggest hurdle to home ownership?  Results of this survey shows that it remains the down payment.  54% of those hoping to buy say they don't have the money saved for a down payment on a home.
 
 
      This last stat proves a bit worrisome to me .. and somewhat frustrating too.  I believe that many hoping to buy still stubbornly cling to the belief that they need a larger down payment than necessary, perhaps even a full 20% down.
 
 
      Getting the message across, that there ARE mortgage financing programs available that allow for smaller down payments has not proven to be easy for mortgage lenders or real estate professionals.
 
 
 
      But it IS true ... and depending on the location where a potential buyer is hoping to purchase, local options may also exist beyond the more nationally well-known mortgage products.
 
 
 
      USDA-RD (rural development financing) is also an often-overlooked mortgage option, but one that can greatly figure into a buyer's buying options if the property is located within a region covered by this program. USDA-RD offers very attractive features to those capable of utilizing it.
 
 
      IMO, the best bet always remains ... if you aren't sure what options for home buying exist ... if you don't know what YOUR personal options are ...talk to an experienced, professional mortgage lender.  Get the facts!
 
 
      But the recent PulteGroup survey proves ... optimism is once again growing about the future and buying homes across our nation.
 
 
      I say, "Here Comes the Sun"!
 
 
 
 
 
 
      * Discover what home buying options exist for you! Contact me today. We'll get you started on your way to becoming a home owner.
I can be found at any of the following:
Direct: 815.277.4036
Cell/Text: 708.921.6331
Mobile:  m.genemundt.com
Skype: 630.219.1316
 

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This post has been included in Illinois Real Estate News Will County, IL Real Estate News
Post is included in group: Chicagoland and Northern Illinois Real Estate
Post is included in group: Realtors®
Post is included in group: Mortgages
Post is included in group: 1st Time Buyers
Post is included in group: Chicago Area Real Estate BUZZ!

14 Comments on Renters Grow More Optimistic About Home Buying: "Here Comes the Sun"

JUN
03
1,653,518 Points 134 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Gene, this is an excellent post and I agree that we both had our minds on the same topic today.  I suggested. 
7:05pm • #1
1,002,481 Points 43 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Gene - Even though June gloom weather arrived right on schedule in Palos Verdes, the local housing market is enjoying a few rays of sunshine and good news.
7:39pm • #2
JUN
04
498,909 Points 150 Featured Posts Outside Blog Hit Router Called Shot Master

Judi:  I'd say, as a whole, I've been feeling alot of positive vibes regarding the markets direction as of late.  Glad you're feeling it too!  Hope you're reaping your share of all that positive news in Idabel, OK ...

Norma:  Glad to hear that Palos Verdes is also receiving those good rays!  We're all ready ... it's been a long stretch ...

Gene
1:29am • #3
1,952,058 Points 478 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Love the song.  Love the article. 

Sadly, I have no faith in projections.  Too much uncertainty. 

I'll just keep my fingers crossed and think about today.
4:24am • #4
1,141,646 Points 154 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Yes, this is great news and I LOVE this song and you are so right, it is so perfect.  Now, it's off to work I go with a good attitude thanks to you.
4:36am • #5
824,334 Points 155 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

I'm excited to attend a house warming open house this weekend for a first-time buyer who recently closed with a 95% Conventional loan.  Even I didn't know these loans existed any more, but the buyer's uncle is a loan officer and he recommended it.  The word really isn't getting out!
4:53am • #6
654,115 Points 71 Featured Posts Outside Blog Called Shot Master

That is one of my favorite songs EVER.  Great message on your post as well.  Congrats on the feature!                              
5:07am • #7
1,120,612 Points 102 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

We had a market spurt in early spring and now... not so much.  I'm hoping those who "want" to buy are saving money and paying bills on time... so they will be able to purchase a home in the next two years.  I recently had a huge amount of people who did not qualify.
5:11am • #8
990,457 Points 50 Featured Posts Outside Blog Called Shot Master

Gene - I think everyone who wants to purchase a home needs to call a lender because there are lot of people out there who can actually afford to buy and not know it.
5:20am • #9
304,644 Points 27 Featured Posts Outside Blog Called Shot Master

Great Song... Great Post... and here's to the Coming of the Sun!   You have a bright sunny day now!
6:19am • #10
731,668 Points 15 Featured Posts Outside Blog Called Shot Master

Gene, the survey shows renters are ready to buy. The word need to get out with the mortgage options available. I would think a lot of these renters don't know of these programs.
6:46am • #11
498,909 Points 150 Featured Posts Outside Blog Hit Router Called Shot Master

Most of the time, I agree with you Lenn.  Once in awhile, I just need a dose of optimism.   Guess I was in that mood ...

So glad to hear that the song helped perk you up for your week, Debbie! 

Margaret:  Yes it is!!  You just helped spread it .. and prove that they exist.  Every time you tell your story, people learn.  One by one ... one by one ... we'll get the message out there ...

Christiansen Team:  Thank you!  Glad I posted a song you enjoyed so greatly ...

I agree Michelle ... I've found that myself.  Sometimes there are PLEASANT surprises when you talk to a lender too ...  always great to see you ... thanks for writing ...

Richard and Beth:  Thanks for all your kind words.  I hope the song proved uplifting ...

Michael:  You're right, sadly.  But we can write posts here on AR and elsewhere and try to educate them ... plus other techniques that go hand-in-hand.  Let me see.  I've had well over a hundred readers for this post.  If each one goes out and tells the news ... we've accomplished something!

Gene

 
9:02am • #12
229,179 Points Outside Blog Attended Rain Camp Called Shot Master

Gene -- The USDA with 0 down is a good product for those in the areas it covers.  My one concern with it, is their change last fall that makes the Mortgage Insurance Payment permanent (i.e. - you have to pay MIP as long as you have the loan.)
10:08am • #13
498,909 Points 150 Featured Posts Outside Blog Hit Router Called Shot Master

Steven:  True, this particular type of loan seems to waiver some with what it offers as options ... and availability.  Welcome to Government loans, right?  But in the right circumstances, and utilized for the correct person and scenario, they ARE an entry into homeownership.  It's up to you and I to educate them to the pros and cons prior to their final decision.  I know your clients rely on your for that expert guidance.  Local options may exist too ... so I'm hoping they find the courage to contact you or I for that valuable info ...

Greal to hear from you!  Hope all is going well out in and around Tacoma!

Gene
12:14pm • #14


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