preapproval: 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)
preapproval: $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)
preapproval: 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)
preapproval: 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)
preapproval: 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)
preapproval: #FirstTimeHomeBuyers Stop Wondering What Your Budget Is & Get Pre-Approved!
- 06/24/19 09:57 AM
https://www.google.com/analytics/web/#home/a69066132w111663562p116541675/ 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)
preapproval: 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)
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.
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