Home Buyers Are You in the Wise 38% or Other 62%?

Which category do you fall into as a Homebuyer: the Educated 38% or the Other (we won't say foolish), 62%?

According to the ‘2019 Home Buyer Report’ conducted by Nerdwallet, many first-time buyers still believe they need a 20% down payment to buy a home in today’s market:

“More than 6 in 10 (62%) Americans believe you must put at least 20% down in order to purchase a home.”

In a competitive market like Silicon Valley, people often assume 20 percent down payment is the minimum needed to buy a home. Yet I've successfully helped home buyers paying as little as 3.5% down (sometimes even with gift funds) to buy that all-important first house in San Jose, Cupertino and Santa Clara, Calif.

The bigger danger of this erroneous thinking is when buyers presume they need a 20% down payment, they figure they’ll need to wait several years to come up with the funds. Instead of successfully levaging themselves using OPM (Other People's Money), buyers can fall further behind over as home prices appreciate, thereby increasing the affordability gap and putting homeownership out of reach. As reported in Nerdwallet,

“The truth: 32% of current U.S. homeowners put 5% or less down on their home, according to census data.”  

Don't be part of the Other 62%. Explore today's unique opportunities with an experienced real estate expert and a savvy lending professional to find out your buying power and home buying options fully.

Be part of the Wise 32% of Homebuyers-Just Call 408-252-8900 Now.

Images courtesy of Keeping Current Matters and Nerdwallet and Walter DiLoreto of PHPHouses.com.

Thanks for reading "Home Buyers Are You in the Wise 38% or Other 62%?"  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

#homebuying, #homeownership, #homeaffordability

#siliconvalleyrealestate, #SanJoserealestate, #Cupertinorealestate, #SantaClararealestate

#downpaymentassistance, #downpayments, #downpayment, #wise38%, #other62%

Aloha & God Bless You, 

 

Michelle Carr Crowe of the Get Results Team Real Estate Agent . Author . Coach . Trainer DRE #00901962 Licensed to Sell since 1985	P: Just Call ... 408-252-8900 F: 408-947-1585 E: GetResultsTeam@gmail.com	1190 S. Bascom Ave., Suite #118 San Jose, CA 95128 www.MichelleJudyCarr.com
Michelle C. Carr-Crowe and the Get Results Team (established by the late legendary Silicon Valley super agent Judy Carr) are known as the "Lynbrook and Cupertino Schools Experts." Coaching clients to success is Michelle's passion, making her and her team creative catalysts for positive change in people's lives. She is a Silicon Valley-based multi-million dollar real estate consultant, author, coach and trainer who works by referral only. Her designations have included: Accredited Buyers Representative (ABR), Accredited Consultant of Real Estate (ACRE), Accredited Luxury Home Specialist (ALHS), Accredited Staging Professional (ASP), Certified Distressed Property Expert (CDPE),  Property Marketing Expert (PME), Real Estate CyberSpace Specialist (RECS), and Senior Real Estate Specialist (SRES). Michelle is an internationally-published freelance writer with over 1,200 traditional articles in print and online, co-author of two books on Silicon Valley-specific real estate as well as over 68,000 blog posts on Blogger, ActiveRain, Examiner, FaceBook, Realtor, Trulia, RealBird and others. She enjoys reading, traveling, animals, nature, family, dancing, staging, consulting, coaching and praying. Check out her blog at www.activerain.com/results or visit her online at www.michellejudycarr.com or www.lynbrookhighhomes.com. For RE$ult$ ... Just Call ... (408) 252-8900.