ajiboom: This Is A Great Way to Increase Your Family’s Net Worth #TimeToBuy
- 08/19/19 10:02 AM
Every three years, the Federal Reserve conducts its Survey of Consumer Finances. Data is collected across all economic and social groups. The latest survey data covers 2013-2016. The study revealed that the median net worth of a homeowner is $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013). These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter. Owning a home is a great way to build family wealth. As we’ve said before, simply put, homeownership … (0 comments)
ajiboom: Is The Housing Affordability Crisis REAL??
- 08/16/19 10:15 AM
It seems you can’t find a headline with the term “housing affordability” without the word “crisis” attached to it. That’s because some only consider the fact that residential real estate prices have continued to appreciate. However, we must realize it’s not just the price of a home that matters, but the price relative to a purchaser’s buying power. Homes, in most cases, are purchased with a mortgage. The current mortgage rate is a major component of the affordability equation. Mortgage rates have fallen by over a full percentage point since December 2018. Another major piece of the affordability equation is a … (1 comments)
ajiboom: $oCal Benefits of Growing Equity in Your Home
- 08/14/19 03:34 PM
Over the last couple of years, we’ve heard quite a bit about rising home prices. Today, expert projections still forecast continued growth, just at a slower pace. One of the often-overlooked benefits of rising home prices is the positive impact they have on home equity. Let’s break down three ways this is a win for homeowners. 1. Move-Up Opportunity With the rise in prices, homeowners naturally experience an increase in home equity. According to the Homeowner Equity Insights from CoreLogic, “In the first quarter of 2019, the average homeowner gained approximately $6,400 in equity during the past year.” This increase in profit means if homeowners … (0 comments)
ajiboom: Confidence in Housing at an All-Time High for Americans #TimeToBuy
- 08/12/19 10:07 AM
Fannie Mae just released the July edition of their Home Purchase Sentiment Index(HPSI). The HPSI takes information regarding consumers’ confidence in the real estate market from Fannie Mae’s National Housing Survey and condenses it into a single number. Therefore, the HPSI reflects consumers’ current views and forward-looking expectations of housing market conditions. Great News! The index reached its highest level since Fannie Mae began their survey. Breaking it down, the report revealed: The share of Americans who say it is a good time to buy a home increased from the same time last year. The share of those who say it is a good time to sell a home … (0 comments)
ajiboom: Rent Vs. Own #INFOGRAPHIC #TimeToBuy
- 08/11/19 06:05 PM
Some Highlights: Owning your own home vs. renting may lead to some great options, such as locking in your monthly payments and having the freedom to customize your living space. Whether you rent or own, you have to cover someone’s mortgage costs. You may as well be doing so to build your own wealth, rather than that of your landlord. Renting and owning both have up-front fees when you sign your lease or close, respectively. Think about putting that money to work for you! My Los Angeles County Real Estate BLOG My Ventura County Real Estate BLOG #363BentTwig Investor Fix & … (0 comments)
ajiboom: The Sky's NOT Falling-Why All the Chicken Littles Should Calm Down
- 08/10/19 05:49 PM
The U.S. Census Bureau recently released their 2019 Q2 Homeownership Report. Some began to see the sky falling, believing the report showed Americans may be stepping back from their belief in homeownership. The national homeownership rate (Americans who owned vs. rented their primary residence) increased significantly during the housing boom, reaching its peak of 69.2% in 2004. The Census Bureau reported that the second quarter of 2019 ended with a homeownership rate of 64.1%, which is down from the 64.8% rate for the fourth quarter of 2018. Based on this news, some started to question the consumer’s belief in the idea of homeownership … (2 comments)
ajiboom: Costly Mistake of Not Buying Now, Advice From Millionaire 2 Millennials
- 08/05/19 10:24 AM
On his personal website, self-made millionaire David Bach makes a striking statement: “Not prioritizing homeownership is the single biggest mistake millennials are making.” He further stated, “Buying a home is an escalator to wealth.” Bach explains: “Young adults in particular aren’t hopping on this escalator, and it’s a costly mistake…If millennials don’t buy a home, their chances of actually having any wealth in this country are little to none.” He then elaborates on the game of homeownership: “Start by crunching the numbers…actually do the math…This way, you’re really clear on your goals and you won’t just say to yourself, ‘I’ll never afford this!’ … (0 comments)
ajiboom: Want To Increase Your Equity Over the Next 5 Years?
- 07/30/19 09:04 AM
Many of the questions currently surrounding the real estate industry focus on home prices and where they are heading. The most recent Home Price Expectation Survey (HPES) helps target these projected answers. Here are the results from the Q2 2019 Survey: Home values will appreciate by 4.1% in 2019 The average annual appreciation will be 3.2% over the next 5 years The cumulative appreciation will be 16.8% by 2023 Even experts representing the most “bearish” quartile of the survey project a cumulative appreciation of over 6.7% by 2023 What does this mean for you? A substantial portion of family wealth comes from home equity. … (0 comments)
ajiboom: Is Renting Right for Me? #TimeToBuy
- 07/22/19 04:29 PM
If you’re currently renting and have dreams of owning your own home, it may be a good time to think about your next move. With rent costs rising annually and many helpful down payment assistance programs available, homeownership may be closer than you realize. According to the 2018 Bank of America Homebuyer Insights Report, 74% of renters plan on buying within the next 5 years, and 38% are planning to buy within the next 2 years. When those same renters were asked why they disliked renting, 52% said rising rental costs were their top reason. The results of the survey can be seen here:It’s … (0 comments)
ajiboom: First Time Home Buyers Is Your First Home Now Within Your Grasp? #INFOGRAPHIC
- 07/12/19 10:25 AM
Some Highlights: According to the US Census Bureau, “millennials” are defined as 18-36-year-olds. According to NAR’s latest Profile of Home Buyers & Sellers, the median age of all first-time home buyers is 32. More and more “old millennials” (25-36) are realizing that homeownership is within their grasp now! « Americans’ Powerful Belief in Homeownership as an Investment What is My Home Worth? To Get A Market SnapShot Click Here . Facebook Badge Chris B Johnson Blog Archive ▼ 2019 (186) ▼ July (9) Americans’ Believe in Homeownership as a Powerful ... #TimeToSell 4 Tips to Sell Your Home Faster #SellY... #TimeToBuy 5 Powerful Reasons to Own Instead of Re... It's … (0 comments)
ajiboom: Americans’ Believe in Homeownership as a Powerful Investment
- 07/11/19 09:15 AM
The Federal Reserve Bank (The Fed) recently released their 2019 Survey of Consumer Expectations Housing Survey. The survey reported that 65% of Americans believe homeownership is a good financial investment. Since 2014, the percentage has increased by over nine percent.The Fed’s survey also showed that when the results are broken down by age, education, income, or region of the country, more than 55% of Americans in each category see homeownership as a good investment. This coincides with a recent Gallup survey of Americans which revealed that real estate was their number one choice for the best long-term investment when compared to stocks, savings accounts or gold. … (0 comments)
ajiboom: Happy 4th of July! Did You Know, Millennials Are Increasing the Demand for Condominiums
- 07/04/19 10:22 AM
When deciding to buy a home, people are presented with many different options. The type of home you buy depends on your needs, budget, and in many cases, the desired maintenance level. For many millennials, their choice has been buying a condominium! According to CoreLogic, “Last year about 43% of all condo home-purchase mortgage applications were submitted by FTHBs… Similarly, the data show condos were more popular with young homebuyers and empty nesters. For instance, 21% of all condo home-purchase mortgage applications were submitted by buyers aged 18 to 30, compared with just 17% of all single-family home-purchase mortgage applications by the same … (2 comments)
ajiboom: #TimeToBuy Americans Rank Real Estate Best Investment for 6 Years Running! #INFOGRAPHIC
- 06/28/19 11:56 AM
Some Highlights: Real estate has outranked stocks/mutual funds, gold, savings accounts/CDs, and bonds as the best long-term investment among Americans for the last 6 years. Stock owners are more positive about real estate than stocks as an investment. Of the 4 listed, real estate is the only investment you can also live in!
« Know What to Expect at Your Home Inspection What is My Home Worth? To Get A Market SnapShot Click Here Facebook Badge Chris B Johnson Blog Archive ▼ 2019 (176) ▼ June (23) #FirstTimeBuyers Know What to Expect at Your Home ... #FindYourDreamHome Before You Look for Your Dream ... #BetterThanFSBO Having … (0 comments)
ajiboom: #FindYourDreamHome Before You Look for Your Dream Home: Know Wants vs. What Needs!
- 06/26/19 09:51 AM
In this day and age of being able to shop for anything anywhere, it is really important to know what you’re looking for when you start your home search. If you’ve been thinking about buying a home of your own for some time now, you’ve probably come up with a list of things that you’d LOVE to have in your new home. Many new homebuyers fantasize about the amenities that they see on television or Pinterest, and start looking at the countless homes listed for sale through rose-colored glasses. Do you really need that farmhouse sink in the kitchen to be happy with … (0 comments)
ajiboom: #TimeToBuy! Young First-Time Buyers Are Saving for Their Dream Homes
- 06/20/19 02:18 PM
Young First-Time Buyers AreSaving for Their Dream Homes Young buyers (Millennials & Gen Z) have waited longer than previous generations to enter the housing market for their first home. However, this hasn’t stopped them from dreaming about the home they will eventually buy. Many spend hours searching listings and building Pinterest boards of their favorite home features. According to a survey from Open Listings, 70% of single renters are more likely to spend their Sunday nights swiping through house listings than dating profiles. All that time window shopping has led 45% of millennials to expect the first home they buy to be their “dream home”! They … (0 comments)
ajiboom: What You Need to Know About Private Mortgage Insurance #PMI #PreApproval
- 06/19/19 09:00 AM
Whether it is your first time or your fifth, it is always important to know all the facts when it comes to buying a home. With the large number of mortgage programs available that allow buyers to purchase homes with down payments below 20%, you can never have too much information about Private Mortgage Insurance (PMI). What is PMI? Freddie Mac defines PMI as: “An insurance policy that protects the lender if you are unable to pay your mortgage. It’s a monthly fee, rolled into your mortgage payment, that is required for all conforming, conventional loans that have down payments less than 20%. Once you’ve … (0 comments)
Every three years, the Federal Reserve conducts its Survey of Consumer Finances. Data is collected across all economic and social groups. The latest survey data covers 2013-2016.
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