home buying: 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 buying: One Surprising Reason for the Inventory Shortage - 04/24/19 01:09 PM
There has been a great amount written on millennials and their impact on the housing market. However, the headlines often contradict each other. Some claim this generation is becoming the largest share of first-time home buyers, while others claim millennials don’t want to own a home, blaming them for the dip in homeownership rate.
While it is true that millennials have achieved milestones like getting married, having kids, and buying homes later in life than their parents and grandparents did, they are not solely to blame for today’s housing market trends.
Freddie Mac’s Insight Report explored the impact of the Silent and Baby Boomer Generations … (1 comments)

home buying: 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 buying: 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:
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home buying: 4 Reasons to Buy a Home in the Spring - 03/15/19 02:25 PM
  Spring has sprung, and it’s a great time to buy a home! Here are four reasons to consider buying today instead of waiting.
1. Prices Will Continue to Rise CoreLogic’s latest U.S. Home Price Insights reports that home prices have appreciated by 4.4% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.6% over the next year.
Home values will continue to appreciate for years. Waiting no longer makes sense.
2. Mortgage Interest Rates Are Projected to Increase Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year fixed rate mortgage … (0 comments)

home buying: 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 buying: Millionaire To Millennials: Don’t Get Stuck - 02/19/19 06:46 AM
  In a CNBC article, self-made millionaire David Bach explained that: “The biggest mistake millennials are making is not buying their first home.” He goes on to say that, “If you want to build real financial security, real wealth for your lifetime, then you need to buy a home.”
Bach went on to explain:
“Homeowners are worth 40 times more than renters. Now, that first home doesn’t need to be a dream home, it can be a very small home. You might literally have to buy a small studio apartment, but that’s how you get started.”
Then he explains the secret to buying that home!
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home buying: 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 buying: 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 buying: 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 buying: 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 buying: 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 buying: 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 buying: Is the Recent Dip in Interest Rates Here to Stay? - 01/09/19 02:07 PM
Interest rates for a 30-year fixed rate mortgage climbed consistently throughout 2018 until the middle of November. After that point, rates returned to levels that we saw in August to close out the year at 4.55%, according to Freddie Mac’s Primary Mortgage Market Survey.
After the first week of 2019, rates have continued their downward trend. As Freddie Mac’s Chief Economist Sam Khater notes, this is great news for homebuyers. He states,
“Mortgage rates declined to start the new year with the 30-year fixed-rate mortgage dipping to 4.51 percent. Low mortgage rates combined with decelerating home price growth should get prospective homebuyers excited to buy.”
In some areas … (3 comments)

home buying: 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)

home buying: First Time Home Buyers Guide - 03/13/17 02:43 PM
 
Buying a home is different than buying any other commodity in the market. It involves large investment, legal aspects, paper work, mortgage plans and much more. First-time buyers have no idea, which what is the things they should consider and where they should go first. Here is a little guide for the first time home buyers.
 
Get Mortgage Loan
Many first-time buyers think that they should search the home first. But, it’s important to have an approval letter, if you want to make an offer. For that, you have to go to a mortgage company. The broker will investigate your financial history and based … (2 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

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Better Homes and Gardens Real Estate Lifestyles

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

Office: (703) 444-8587

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