5starrealtor: Three Things to Know About Today's Housing Market! #TimeToBuy,#FirstTimeHomeBuyers,#MoveUpHomeBuyers,#5StarREALTOR
- 06/12/19 03:22 PM
A lot is happening in the world, and it’s having a direct impact on the housing market. The reality is this: some of it is positive and some of it may be negative. Some we just don’t know yet. The following three areas of the housing market are critical to understand: interest rates, building materials, and the outlook for an economic slowdown. 1. Interest Rates One of the most important things to consider when buying a home is the interest rate you will be charged to borrow the money. In our recent post we posed the question, “Are Low Interest Rates Here To Stay?” The … (1 comments)
5starrealtor: #FirstTimeHomeBuyers Renting or Owning, What Is Better for You?
- 06/11/19 09:43 AM
In a real estate market where home prices are rising, many have begun to reexamine the idea of buying a home, choosing instead, to rent for a while. But often, there is a dilemma: should you keep paying rent, knowing that rent is rising too, or should you lock in your housing cost and buy a home? Let’s look at both scenarios and analyze the pros and cons of each: Renting With the housing market crash in 2008, many homeowners lost their homes and became renters. According to Iproperty Management, “the number of households renting their home … rose from 31.2% of … (0 comments)
5starrealtor: Is There Another Housing Bubble Just Around The Corner?
- 06/10/19 10:35 AM
Another Housing Bubble Ahead?in Daily Dose, Featured, Market Studies, News Research from the Black Knight indicates that the current demand for houses is largely driven by families seeking to purchase homes and not by speculators, which, according to the Urban Institute, means that we are at less risk of entering a housing bubble. Urban Institute’s analysis of Black Knight’s house price index (HPI) reveals that home prices appear to be losing momentum. In comparison that during the last housing bubble, growth in the investment component of HPI was substantially larger, “reflecting reckless lending and speculative homebuying,” said Andrew M. Neal, Urban Institute Senior Research Associate. “Investment-driven demand … (0 comments)
5starrealtor: #TimeToBuy 2 Myths Holding Back Home Buyers #FirstTimeHomeBuyers
- 06/10/19 10:15 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 qualify … (0 comments)
5starrealtor: #TimeToBuy What is the Cost of Waiting Until Next Year to Buy? #INFOGRAPHIC
- 06/07/19 09:26 AM
Some Highlights: The “cost of waiting to buy” is defined as the additional funds necessary to buy a home if prices & interest rates were to increase over a period of time. Freddie Mac forecasts interest rates to rise to 4.5% by the Q4 2020. CoreLogic predicts home prices to appreciate by 4.8% over the next 12 months. If you are ready and willing to buy your dream home, find out if you are able to! « What is Important to Boomers when Selling their House?
What is My Home Worth? To Get A Market SnapShot Click Here Facebook Badge Chris B Johnson Blog Archive … (0 comments)
5starrealtor: #TimeToBuy The Feeling You Get from Owning Your Home
- 06/05/19 03:16 PM
We often talk about the financial reasons why buying a home makes sense. But, more often than not, the emotional reasons are the more powerful and compelling ones. No matter what shape or size your living space is, the concept and feeling of home can mean different things to different people. Whether it’s a certain scent or a favorite chair, that feeling of safety and security you gain from owning your own home is simultaneously one of the greatest and most difficult to describe. Frederick Peters, a contributor for Forbes, recently wrote about that feeling, and the pride that comes from owning your own … (0 comments)
5starrealtor: Did You Know That Homeownership Delivers Unsurpassed Family Wealth?
- 06/04/19 09:13 AM
There are many financial benefits to homeownership, but probably none more important than its ability to create family wealth. How Housing Matters is a joint project of the Urban Land Institute and the MacArthur Foundation. It is an online resource for research and information on how homeownership contributes to individual and community success. Their article, The First Rung on the Ladder to Economic Opportunity Is Housing, explains the importance of homeownership to a family’s financial health. In that article, they simply stated: “The ladder to economic success can stretch only so high without the asset-building power of homeownership.” To this point, National Association of Realtors’ (NAR) Economists’ Outlook Blog revealed … (4 comments)
5starrealtor: 4 Reasons to Buy A Home This Summer #TimeToBuy #FirstTimeHomeBuyers
- 06/03/19 10:46 AM
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 3.7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.8% over the next year. Home values will continue to appreciate. Waiting may 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 have started to level off around 4.3%. Most experts predict that rates will rise over … (0 comments)
5starrealtor: The Top Reasons to Own Your Home #INFOGRAPHIC #TimeToBuy #FirstTimeHomeBuyers
- 05/31/19 02:56 PM
Some Highlights: June is National Homeownership Month! Now is a great time to reflect on the many benefits of homeownership that go way beyond the financial. What reasons do you have to own your own home? « The Ultimate Truth about Housing Affordability What is My Home Worth? To Get A Market SnapShot Click Here Facebook Badge Chris B Johnson Blog Archive ▼ 2019 (152) ▼ May (27) Can You Handle The Ultimate Truth about Housing Af... Don’t Count on a Price Drop to Reignite a Listing The Desire 4 Multigenerational Homes Is on the Ris... 2 Things You Need to Know to Properly Price … (0 comments)
5starrealtor: Can You Handle The Ultimate Truth about Housing Affordability?
- 05/30/19 09:55 AM
There have been many headlines decrying an “affordability crisis” in the residential real estate market. While it is true that buying a home is less affordable than it had been over the last ten years, we need to understand why and what that means. On a monthly basis, the National Association of Realtors (NAR), produces a Housing Affordability Index. According to NAR, the index… “…measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national and regional levels based on the most recent price and income data.” Their methodology states: “To interpret … (2 comments)
According to Freddie Mac’s Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at their lowest for 2019. Rates like these haven’t been seen since February 2018! Last week’s survey results reported an interest rate of 4.35%. This is a welcome change from the near 5% rates seen in mid-November. At 4.32%, the second week of February 2018 was the last time rates were this low. This can be seen in the chart below.
Freddie Mac’s Chief Economist, Sam Khater, had this to say: “Mortgage rates fell for the third consecutive week, continuing the general downward trend … (0 comments)
A lot is happening in the world, and it’s having a direct impact on the housing market. The reality is this: some of it is positive and some of it may be negative. Some we just don’t know yet.
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