home buyers: Two Myths Holding Back Home Buyers - 12/10/19 10:57 AM
In a recent article, First American shared how millennials are not really any different from previous generations when it comes to the goal of homeownership; it is still a huge part of their American Dream. The piece, however, also reveals,
 
 “Saving for a down payment is one of the biggest obstacles faced by first-time home buyers. Dispelling the 20 percent down payment myth could open the path to homeownership for many more.” 
 Myth #1: “I Need a 20% Down Payment” Buyers often overestimate how much they need to qualify for a home loan. According to the same article:
“Americans still overestimate the qualifications needed to … (0 comments)

home buyers: Homeownership Rate Remains on the Rise - 11/20/19 11:46 AM
In the third quarter of 2019, the U.S. homeownership rate rose again, signaling another strong indicator of the current housing market.
The U.S. Census Bureau announced,
“The homeownership rate of 64.8 percent was not statistically different from the rate in the third quarter 2018 (64.4 percent), but was 0.7 percentage points higher than the rate in the second quarter 2019 (64.1 percent).”
Today there is still a lack of inventory, particularly at the entry and middle-level segments of the market, but that is not stopping buyers from making every effort to pursue homeownership. The many financial and non-financial benefits continue to drive the American Dream and will likely do so for … (0 comments)

home buyers: 3 Powerful Reasons to Buy a Home Now - 07/25/19 02:57 PM
Whether you are a first-time buyer or looking to move up to the home of your dreams, now is a great time to purchase a home. Here are three major reasons to buy today.
 1. AffordabilityMany people focus solely on price when talking about home affordability. Since home prices have appreciated throughout the past year, they assume homes are less affordable. However, affordability is determined by three components:
Price Wages Mortgage Interest Rate  
Prices are up, but so are wages - and interest rates have recently dropped dramatically (see #2 below). As a result, the National Association of Realtors’ (NAR) latest Affordability Index report revealed that … (2 comments)

home buyers: 2 Myths Holding Back Home Buyers - 06/11/19 11:34 AM
  Freddie Mac recently released a report entitled, “Perceptions of Down Payment Consumer Research.” Their research revealed that,
“For many prospective homebuyers, saving for a down payment is the largest barrier to achieving the goal of homeownership. Part of the challenge for those planning to purchase a home is their perception of how much they will need to save for the down payment…
…Based on our recent survey of individuals planning to purchase a home in the next three years, nearly a third think they need to put more than 20% down.”
Myth #1: “I Need a 20% Down Payment” Buyers often overestimate the funds needed to … (1 comments)

home buyers: 3 Questions You Need To Ask Before Buying A Home - 04/15/19 01:10 PM
  If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family have your best interests at heart, they may not be fully aware of your needs and what is currently happening in the real estate market.
Ask yourself the following three questions to help determine if now is a good time for you to buy in today’s market.
1. Why am I buying a home in the first place? This is truly the most important question to answer. Forget the finances for a minute. Why did you even begin … (0 comments)

home buyers: Looking to Upgrade Your Current Home? - 04/03/19 12:20 PM
  In every area of the country, homes that are priced at the top 25% of the price range for that area are considered to be Premium Homes. In today’s real estate market there are deals to be had at the higher end! This is great news for homeowners who want to upgrade from their current house and move-up to a premium home.
Much of the demand for housing over the past couple years has come from first-time buyers looking for their starter home, which means that many of the more expensive homes that have been listed for sale have not seen … (0 comments)

home buyers: Homebuyers Shouldn't Worry About 2008 Again - 04/03/19 11:33 AM
  Last week, realtor.com released a survey of active home shoppers (those who plan to purchase their next home in 1 year or less). The survey asked their opinion on an impending recession and its possible impact on the housing market.
Two major takeaways from the survey:
42% believe a recession will occur this year or next (another 16% said 2021) 59% believe the housing market would fare the same or worse than it did in 2008 Why all the talk about a recession recently? Over the last year, four separate surveys have been taken asking when we can expect the next recession to occur:
(0 comments)

home buyers: 2019 Will Be a Great Year for Buyers & Sellers - 02/21/19 12:20 PM
  Many homeowners believe that rising interest rates and home prices have scared away buyers and therefore have not listed their houses for sale. However, the truth is that buyers who were unable to find a home last year are out in force, and there are even more coming!
NerdWallet’s 2018 Home Buyer Report revealed that:
“Approximately one-third (32%) of Americans plan to purchase a home in the next five years. Millennials are most likely to have such a purchase in their five-year plan (49%), versus 35% of Generation X and 17% of baby boomers.”
As we can see, buyers are optimistic! According to the report, here … (1 comments)

home buyers: First Comes Love… Then Comes Mortgage? - 02/15/19 02:19 PM
  According to the National Association of REALTORS most recent Profile of Home Buyers & Sellers, married couples once again dominated the first-time homebuyer statistics in 2018 at 54% of all buyers. It is no surprise that buying a home is more attainable with two incomes to save for down payments and contribute to monthly housing costs.
However, many couples are also deciding to buy a home before spending what would be a down payment on a wedding. Last year, unmarried couples accounted for 16% of all first-time buyers.
If you’re single, don’t fret! Single women made up 18% of first-time buyers in 2018, while single … (0 comments)

home buyers: Whose Mortgage Do You Want to Pay? - 02/08/19 08:02 AM
  There are some people who haven’t purchased homes because they are uncomfortable taking on the obligation of a mortgage. However, 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 in their article, “12 Practical Steps to Getting Rich”:
“While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re … (2 comments)

home buyers: How to Get a Better Perspective on Affordability - 02/07/19 01:55 PM
  Headlines spotlight the fact that buying a home is less affordable today than it was at any other time in more than a decade. Those headlines are accurate.
Understandably, buying a home is more expensive now than immediately following one of the worst housing crashes in American history. Over the past decade, the market was flooded with distressed properties (foreclosures and short sales) selling at 10-50% discounts. There were so many that this lowered the prices of non-distressed homes in the same neighborhoods. As a result, mortgage rates were kept low to help the economy.
Prices have since recovered. Mortgage … (0 comments)

home buyers: Do You Prefer the Charm of an Existing Home? - 01/22/19 01:12 PM
When homebuyers begin their research, they want to see all their available options! In many cases, they will include both new construction and existing homes in their search; but is a new construction home really the house of their dreams?
According to a recent survey by Zillow, of the 38% of total buyers that added new construction to their list, only 11% ultimately purchased a newly constructed home!
They added that 71% of these buyers are repeat buyers who are financially secure, with 45% using the money from the sale of their previous homes to make a purchase.
Below are some reasons why buyers are interested in purchasing a new … (1 comments)

home buyers: Buying a House This Year? This Should Be Your 1st Step! - 01/18/19 11:14 AM
  In many markets across the country, the number of buyers searching for their dream homes outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show that you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.
Even if you are not in an incredibly competitive market, understanding your budget will give you the confidence of knowing whether or not your dream home is within your reach.
Freddie Mac lays out the advantages of pre-approval in the ‘My Home’ … (0 comments)

home buyers: Last Chance! Homes are a Bargain Compared to Historic Norms - 01/17/19 02:23 PM
  A loaf of bread used to be a nickel. A movie ticket was a dime.  Not anymore. Houses were also much less expensive than they are now. Inflation raised the price of all three of those items, along with the price of almost every other item we purchase.
The reason we can still afford to consume is that our wages have also risen over time. The better measure of whether an item is more expensive than it was before is what percentage of our income it takes to purchase that item today compared to earlier. Let’s look at purchasing a … (2 comments)

home buyers: Buying a Home Young is the Key to Building Wealth - 01/15/19 01:00 PM
Homeowners who purchase their homes before the age of 35 are better prepared for retirement at age 60, according to a new Urban Institute study. The organization surveyed adults who turned 60 or 61 between 2003 and 2015 for their data set.
“Today’s older adults became homeowners at a younger age than today’s young adults. Half the older adults in our sample bought their first house when they were between 25 and 34 years old, and 27 percent bought their first home before age 25.”
The full breakdown is in the chart below:
The study goes on to show the impact of purchasing a home at … (0 comments)

home buyers: Excited About Buying A Home This Year? - 01/03/19 07:20 AM
As we kick off the new year, many families have made resolutions to enter the housing market in 2019. Whether you are thinking of finally ditching your landlord and buying your first home or selling your starter house to move into your forever home, there are two pieces of the real estate puzzle you need to watch carefully: interest rates & inventory.
Interest RatesMortgage interest rates had been on the rise for much of 2018, but they made a welcome reversal at the end of the year. According to Freddie Mac’s latest Primary Mortgage Market Survey, rates climbed to 4.94% in November before falling to 4.62% … (0 comments)

 
Azmi Alkurd, Residential | Commercial Real Estate Agents (Better Homes and Gardens Real Estate Lifestyles) Rainmaker large

Azmi Alkurd

Residential | Commercial Real Estate Agents

Sterling, VA

More about me…

Better Homes and Gardens Real Estate Lifestyles

Address: 46179 Westlake Dr, Suite 200, Sterling, VA, 20165

Office: (703) 444-8587

Mobile: (703) 628-9343

Email Me

Online Mortgage Estimator


Listings

Links

Archives

RSS 2.0 Feed for this blog