home buyers: 4 Ways Homeowners Can Use Their Equity - 11/23/21 07:21 AM
4 Ways Homeowners Can Use Their Equity
Your equity is a powerful tool that can help you achieve your goals as a homeowner. And chances are, your equity grew substantially over the past year. According to the latest Equity Insights Report from CoreLogic, homeowners gained an average of $51,500 in equity over the past year.
If you’re looking for the best ways to use your growing equity, here are four options:
1. Use Your Equity To Buy a Home That Fits Your Needs If you’re finding you no longer have the space you need, it might be time to move … (1 comments)

home buyers: ShowingTimes Monthly Index - 11/15/21 07:34 AM

(1 comments)

home buyers: 4 Things Every Renter Needs To Consider - 11/15/21 07:03 AM

As a renter, you’re constantly faced with the same dilemma: keep renting for another year or purchase a home? Your answer depends on your current situation and future plans, but there are a number of benefits to homeownership every renter needs to consider.
Here are a few things you should think about before you settle on renting for another year.
1. Rents Are Rising Quickly Rent increasing each year isn’t new. Looking back at Census data confirms rental prices have gone up consistently for decades (see graph below):If you’re a renter, you’re faced with payments that continue to climb each … (0 comments)

home buyers: What Potential Homebuyers Need To Know About Buying Their First Homes - 11/10/21 09:13 AM
It is exciting to purchase a house for the first time, but this is also a major financial decision. Therefore, potential homebuyers need to make sure they are prepared. What do potential homeowners need to know about purchasing a home for the first time? Learn more about this process below.
Ask For Help From A Real Estate Agent
First-time home buyers always need to ask for help from a real estate agent. A real estate agent can help someone identify potential issues with a home that might have otherwise been overlooked. A real estate agent can also make sure potential home buyers … (0 comments)

home buyers: Luxury Selling: How to Qualify Potential Buyers - 11/04/21 06:59 AM
Luxury estates can be a challenge to sell. The more expensive a home is, the less potential buyers there are. The biggest hassle is going through the process with people who can't actually afford the home, only to have it fall apart at the last minute.
Here are some ways to make sure the property is only being viewed by qualified buyers.
Only Accept Offers From Buyers Who Are Pre-Qualified From A Lender
One of the only ways to guarantee a buyer will be able to afford a luxury home is to let the bank do the work on your behalf. By only accepting … (0 comments)

home buyers: Renters Missed Out on $51,500 This Past Year - 11/01/21 07:34 AM

Rents have increased significantly this year. The latest National Rent Report from Apartmentlist.com shows rents are rising at a rate much higher than the three years leading up to the pandemic:
“Since January of this year, the national median rent has increased by a staggering 16.4 percent. To put that in context, rent growth from January to September averaged just 3.4 percent in the pre-pandemic years from 2017-2019.”
Looking back, we can see rents rising isn’t new. The median rental price has increased consistently over the past 33 years (see graph below):If you’re thinking of renting for another year, consider that rents will likely be even higher next year. But that alone doesn’t paint the … (1 comments)

home buyers: Does Your House Have What Buyers Want? - 10/28/21 02:25 PM
Does Your House Have What Buyers Want?
The rise in remote work is changing what many Americans want in their homes. Many companies are choosing to delay reopening or go remote full-time, and today’s buyers are looking for homes with more space to support their work needs.
As a seller, if you no longer need the extra room you have in your home, rest assured there are buyers who do.
Remote Work Is Here To Stay Remote work remains a reality for many Americans. A recent poll from Garter, Inc. shows many organizations have not yet returned their offices:
“. . . 66% of organizations are delaying … (1 comments)

home buyers: Important Distinction: Homes Are Less Affordable, Not Unaffordable - 10/21/21 12:30 PM

It’s impossible to research the subject of buying a home without coming across a headline declaring that the fall in home affordability is a crisis. However, when we add context to the most recent affordability statistics, we soon realize that, though homes are less affordable than they have been over the last few years, they are more affordable than they historically have been.
Black Knight, a premier provider of data and analytics for the mortgage industry, just released their latest Monthly Mortgage Monitor which includes a new analysis of the affordability situation. Here’s what the report reveals:
“The monthly payment required to purchase the average priced … (1 comments)

home buyers: Experts Agree: Homeownership Provides a Path to Long-Term Wealth - 10/11/21 08:34 AM

A recent survey from LendingTree.com found there are multiple reasons why Americans would choose to purchase a home instead of renting. Some of the most popular non-financial reasons given include:
The flexibility to make the space your own The pride homeownership offers The sense of stability In the same survey, 41% of respondents say they’d rather own a home than rent because of the unique way homeownership builds wealth over time.
And experts agree – the home you own is an important tool for building your net worth. Here’s what many of those experts have to say about building long-term financial stability through homeownership.
According to the National Association of … (2 comments)

home buyers: 111,285 Reasons You Should Buy a Home This Year - 10/08/21 10:02 AM

The financial benefits of buying a home versus renting one are always up for debate. However, one element of the equation is often ignored – the ability to build wealth as a homeowner.
According to the latest research from the National Association of Realtors (NAR):
“Homeownership is a key pathway to building wealth and narrowing the racial income and wealth inequality gap. Housing wealth (equity) accumulation takes time and is built up by price appreciation and paying off the mortgage.”
An increase in equity builds the wealth of the individual that owns it. This wealth can be passed down to future generations. The Federal Reserve in an addendum to … (0 comments)

home buyers: Reasons Renters Buy [INFOGRAPHIC] - 10/04/21 07:22 AM
Reasons Renters Buy [INFOGRAPHIC]
Some Highlights When deciding whether you should rent or buy, make sure you’re considering these factors. Buying a home means consistent monthly payments. Homeownership also helps to build your wealth. And owning a home gives you greater flexibility than renting. If you’re ready to take advantage of the perks of homeownership, let’s connect to explore your options. … (0 comments)

home buyers: An Overview Of the Digital Mortgage Process - 09/29/21 07:31 AM
Changes are being made to the mortgage application process every year. With access to online-only lenders and a decentralized financial system, more doors are open to potential home buyers than ever before. For example, there are many institutions that are making it easier to apply for mortgages by allowing applicants to do so online. That way, buyers do not have to fill out any paperwork, and lenders can stay away from any inequalities or discriminatory methods. What are the benefits of a digital mortgage?
They Are Easier To Access
One major benefit of a digital mortgage is that they are easier to … (0 comments)

home buyers: Early October is the Sweet Spot for Buyers - 09/29/21 07:12 AM

Are you looking to buy a home? If so, we’ve got good news for you.
While there’s no denying the housing market is having a great year, many of the headlines are focused on the perks for sellers. But what about buyers today? As a buyer, you’re likely braving bidding wars and weighing low mortgage rates versus price appreciation as you search for your dream home. If you find yourself a bit discouraged, hear this: there are clear signs buyers may have more opportunities this fall.
According to realtor.com, the sweet spot for buyers is just around the corner. In a recent study, experts analyzed housing market trends by looking … (0 comments)

home buyers: If You’re a Buyer, Is Offering Asking Price Enough? - 09/27/21 12:55 PM

In today’s real estate market, buyers shouldn’t shop for a home with the expectation they’ll be able to negotiate a lower sales price. In a typical housing market, buyers try to determine how much less than the asking price they can offer and still get the home. From there, the buyer and seller typically negotiate and agree on a revised price somewhere in the middle.
Things Are Different Today Today’s housing market is anything but normal. According to the National Association of Realtors (NAR), homes today are:
Receiving an average of  3.8 offers Selling in just 17 days Homes selling … (0 comments)

home buyers: Two Reasons Why Waiting a Year To Buy Could Cost You - 09/24/21 09:09 AM

If you’re a renter with a desire to become a homeowner, or a homeowner who’s decided your current house no longer fits your needs, you may be hoping that waiting a year might mean better market conditions to purchase a home.
To determine if you should buy now or wait, you need to ask yourself two simple questions:
What will home prices be like in 2022? Where will mortgage rates be by the end of 2022? Let’s shed some light on the answers to both of these questions.
What will home prices be like in 2022? Three major housing industry … (0 comments)

home buyers: Is a 20% Down Payment Really Necessary To Purchase a Home? - 09/24/21 09:03 AM

There’s a common misconception that, as a homebuyer, you need to come up with 20% of the total sale price for your down payment. In fact, a recent survey by Lending Tree asks what is keeping consumers from purchasing a home. For over half of those surveyed, the ability to afford a down payment is the biggest hurdle.
That may be because those individuals assume a 20% down payment is necessary. While putting more money down if you’re able can benefit buyers, putting 20% down is not mandatory. As Freddie Mac puts it:
“The most damaging down payment myth—since it stops the homebuying process before it can start—is … (0 comments)

home buyers: 5 Tips for Making Your Best Offer - 09/16/21 02:56 PM
5 Tips for Making Your Best Offer
In today’s sellers’ market, standing out as a buyer is critical. Multi-offer scenarios and bidding wars are the norm due to the low supply of houses for sale and high buyer demand. If you’re buying this fall, you’ll want every advantage, especially when you’ve found the home of your dreams.
Below are five things to keep in mind when it’s time to make an offer.
1. Know Your Budget Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to … (1 comments)

home buyers: The Truth About Today's Buyer Demand - 09/14/21 01:01 PM
The Truth About Today’s Buyer Demand
When it comes to the latest news in real estate, there are a lot of sensational headlines in the media. In times like this, when it can be hard to know what to believe, put your trust in the experts. Those of us in the housing market respect that buying or selling a home is a major life decision, and we offer advice based on what the data shows.
Despite what you may have read, the housing market is still undeniably strong. Here’s a look at what leading experts have to say about buyer … (0 comments)

home buyers: Why 2021 Is Still the Year To Sell Your House - 08/25/21 12:49 PM

If you’re trying to decide whether or not to sell your house, this is the time to think seriously about making a move. Fannie Mae’s recent Home Purchase Sentiment Index (HPSI) reveals the number of respondents who say it’s a good time to sell is higher now than it was over the past few summers (see graph below). Today, the majority of consumers, 75 percent, say it’s a good time to sell a house.
Why is sellers sentiment up year-over-year? The higher good time to sell sentiment has to do with today’s market conditions, specifically low housing supply and high buyer demand. In the simplest terms, we don’t have enough … (0 comments)

home buyers: Financial Preparation: Millennials Are Getting Ready To Buy Homes - 08/23/21 08:21 AM
In the current economy, there are a lot of millennials who are thinking about buying a home; however, the price of homes is rising quickly. It can be challenging for millennials to save the money they need to buy a home. When this is combined with other monthly expenses they have, millennials might be financially unprepared to buy a home.
Finding the right house takes patience and discipline, so millennials need to avoid jumping in unprepared. What do millennials need to do to make sure they are ready for the expenses that come with owning a home?
Be Aware Of How Much … (0 comments)

 
Bob Elliot, 20+ Yrs Industry Experience (eXp Realty)

Bob Elliot

20+ Yrs Industry Experience

Minneapolis, MN

More about me…

eXp Realty

Address: 15451 Founders Lane, Apple Valley, MN, 55124

Mobile: 612 868 5500

Mobile: 612 578 6162

Email Me

Real Estate Matters! Local and national market news, trends, and updates.


Listings

Links

Archives

RSS 2.0 Feed for this blog