flipandfix: Is It 2 Much? 5 Easy Steps to Avoid Overwhelm from Media Overload - 08/23/19 09:57 AM
When someone is thinking about buying or selling a home, they want to be well-informed. They want to make the right decision for themselves and their family. They scour the internet for any information they can find about the housing market.
Today, there is an abundance of information available. It is often conflicting news. It can easily lead to confusion and concern, perhaps even causing a potential buyer or seller to cancel their plans to move altogether. Instead, the best things to do are sit down and take a deep breath.
In a recent article, Jeff Davidson, a recognized speaker on the … (0 comments)

flipandfix: Our Housing Supply Not Keeping Up with Population Increase - 08/20/19 09:25 AM
Many buyers are wondering where to find houses for sale in today’s market. It’s a true dilemma. We see an increase in buyer demand, but the supply available for purchase isn’t keeping up.
The number of new housing permits issued prior to the great recession increased for 15 years until 2005 (from 1.12 million in 1990 to a pre-recession peak of 2.16 million in 2005). According to Apartment List,
“From 1990 to 2005, the number of single-family permits issued more than doubled, while the number of multi-family permits grew by 49 percent.”
When the housing market crashed, the number of new homes … (0 comments)

flipandfix: 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)

flipandfix: 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)

flipandfix: 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!’
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flipandfix: 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)

flipandfix: Are You doing It WRONG? 8 Real Estate Investing Mistakes to Avoid - 07/29/19 01:52 PM

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flipandfix: 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)

flipandfix: 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)

flipandfix: 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.
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flipandfix: It's Time to Move-Up and Upgrade Your Current Home! #MoveUpBuyer - 07/08/19 09:42 AM
Homes priced at the top 25% of the price range for a particular area of the country are considered “premium homes.” In today’s real estate market, there are deals to be had at the higher end! This is great news for homeowners wanting to upgrade from their current house.
Much of the demand for housing over the past couple of years has come from first-time buyers looking for their starter home. Many of the more expensive homes listed for sale have not seen as much interest.
According to ILHM’s Luxury Report, this mismatch in demand and inventory of luxury and premium homes has created … (0 comments)

flipandfix: 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)

flipandfix: #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)

flipandfix: #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)

flipandfix: 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)

flipandfix: Why Is So Much !*$%! Paperwork Required to Get a Mortgage? - 06/18/19 09:52 AM
When buying a home today, why is there so much paperwork mandated by the lenders for a mortgage loan application? It seems like they need to know everything about you. Furthermore, it requires three separate sources to validate each and every entry on the application form. Many buyers are being told by friends and family that the process was a hundred times easier when they bought their home ten to twenty years ago.
There are two very good reasons that the loan process is much more onerous on today’s buyer than perhaps any other time in history.
1. The government has set new guidelines that now … (3 comments)

flipandfix: The U.S. home flipping rate reached a nine-year high but...... - 06/17/19 05:57 PM
 
 
https://www.google.com/analytics/web/#home/a69066132w111663562p116541675/ … (3 comments)

flipandfix: Happy Fathers Day!! - 06/16/19 10:22 AM

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flipandfix: #TimeToBuy Time for Your Dream Home, Gen X! #BoomerageBuyers - 06/13/19 04:00 PM
During the housing market crash, Gen X homeowners lost more wealth than other generations. However, things are changing now! A strong economy, increasing home prices, and the recovery of the housing market are helping this generation to regain their lost wealth.
According to Pew Research Center,
“Their fortunes have rebounded more than those of other generations during the post-recession economic expansion and as home and stock prices have risen. Since 2010, the median net worth of Gen X households has risen 115%. In fact, in 2016, the most recent year with available data, the net worth of a typical Gen X household had … (1 comments)

flipandfix: 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)

 
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