rentalproperties: Next Generation of Homebuyers, Gen Z, Biggest Housing Boom In History Has Just Begun
- 10/15/19 09:54 AM
You’ve likely heard a ton about Millennials, but what about Gen Z? In the next 5 years, this generation will be between the ages of 23 and 28, and they’re eager to become homeowners faster than you may think. According to realtor.com, “Nearly 80 percent of Generation Z members say they want to own a home before age 30,” and Concentrix Analytics said, “52% of prospective Gen Z buyers are already saving to buy a home.” Wikipedia defines Generation Z (Gen Z) as “the demographic cohort after the Millennials. Demographers and researchers typically use the mid-1990s to mid-2000s as starting birth years.” The report from Concentrix goes a … (2 comments)
rentalproperties: Everything You Need to Know About the Mortgage Process #INFOGRAPHIC
- 10/11/19 09:39 AM
Some Highlights: Many buyers are purchasing homes with down payments as little as 3%. You may already qualify for a loan, even if you don’t have perfect credit. Your local professionals are here to help you determine how much you can afford, so take advantage of the opportunity to learn more. « You Need More Than a Guide. You Need a Sherpa. What is My Home Worth? To Get A Market SnapShot Click Here . My Los Angeles County Real Estate BLOG My Ventura County Real Estate BLOG BuyersWalkThrough #363BentTwig Investor Fix & Flip-Bidding Ends SOON! #ChrisBJohnsonRealtor #AJIBoom #363BentTwig #1251SweetbriarDrive #16930EncinoHillsDrive #3676_5thAve … (0 comments)
rentalproperties: Building Wealth, Homeownership is the Top Contributor 2 Your Net Worth
- 10/09/19 09:34 AM
Many people plan to build their net worth by buying CDs or stocks, or just having a savings account. Recently, however, Economist Jonathan Eggleston and Survey Statistician Donald Hays, both of the U.S. Census Bureau, shared the biggest determinants of wealth, “The biggest determinants of household wealth [are] owning a home and having a retirement account.” (Shown in the graph below): This does not come as a surprise, as we often mention that homeownership can help you to increase your family’s wealth. This study reinforces that idea, “Net worth is an important indicator of economic well-being and provides insights into a household’s economic health.” Having equity in your home can help your family move … (0 comments)
rentalproperties: Five Homebuying Acronyms Buyers Need to Know #INFOGRAPHIC
- 10/04/19 09:31 AM
Some Highlights: Learning the lingo of homebuying is an important part of feeling successful when buying a home. From APR to P&I, you need to know the acronyms that will come up along the way, and what they mean when you hear them. Your local professionals are here to help you feel confident and informed from start to finish…and this infographic will help you as you go.
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rentalproperties: #TimeToBuy How Does the Supply of Homes for Sale Impact Buyer Demand?
- 09/30/19 01:42 PM
The price of any item is determined by supply, as well as the market’s demand for the item. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index. Their latest edition sheds some light on the relationship between seller traffic (supply) and buyer traffic (demand). Buyer Demand The map below was created after asking the question: “How would you rate buyer traffic in your area?”The darker the blue, the stronger the demand for homes is in that area. The survey shows that in 3 of the 50 U.S. states, buyer demand is now very strong; … (0 comments)
rentalproperties: Now VS Later-What Is the Cost of Waiting Until Next Year to Buy? #INFOGRAPHIC
- 09/27/19 09:16 AM
Some Highlights: The “cost of waiting to buy” is defined as the additional funds necessary to buy a home if prices and interest rates were to increase over a period of time. Freddie Mac forecasts interest rates will rise to 3.8% by Q4 2020. CoreLogic predicts home prices will appreciate by 5.4% over the next 12 months. If you’re ready and willing to buy your dream home, now is a great time to buy. « Homeowners Are Happy! Renters? Not So Much. What is My Home Worth? To Get A Market SnapShot Click Here . My Los Angeles County Real Estate BLOG My Ventura County Real … (0 comments)
rentalproperties: SoCal Homeowners Are Happy! Renters? Not So Much #TimeToBuy
- 09/26/19 03:04 PM
When people talk about homeownership and the American Dream, much of the conversation revolves around the financial benefits of owning a home. However, two recent studies show that the non-financial benefits might be even more valuable. In a recent survey, Bank of America asked homeowners: “Does owning a home make you happier than renting?” 93% of the respondents answered yes, while only 7% said no. The survey also revealed: More than 80% said they wouldn’t go back to renting 88% agreed that buying a home is the “best decision they have ever made” 79% believed owning a home has changed them for the better Those surveyed talked … (0 comments)
rentalproperties: One of the Top Reasons to Own a Home #TimeToBuy
- 09/20/19 02:46 PM
One of the benefits of homeownership is that it is a “forced savings plan.” Here’s how it works: You make a mortgage payment each month. Part of that payment is applied to the principal balance of your mortgage. Each month you owe less on the home. The difference between the value of the home and what you owe is called equity. If your home has appreciated since the time you purchased it, that increase in value also raises your equity. Over time, the equity in your home could be substantial. Recently, CoreLogic revealed that the average homeowner gained more than $65,000 in equity over the last 5 … (0 comments)
rentalproperties: Are You Looking To Buy? What Buyers Need to Know About HOAs
- 09/19/19 09:46 AM
Accepting Offer Starting at $710,000.00 Offers: https://www.xome.com/auctions/3676-5th-Avenue-Los-Angeles-CA-90018-318204706 Walk Through Video: https://youtu.be/8eShAQsbXOU MLS: https://www.flexmls.com/share/2hjYn/3676-5th-AVE-Los-Angeles-CA-90018 Photos: https://myre.io/0hY8c3dS65qjK When searching for a home, you may end up selecting a property in a community with a Homeowners Association (HOA). Before you buy, it’s important to know how an HOA works and what they mean for you. According to a recent article on realtor.com, “In a nutshell, an HOA helps ensure that your community looks its best and functions smoothly…The number of Americans living in homes with HOAs is on the rise, growing from a mere 1% in 1970 to 25% today, according to the Foundation for … (2 comments)
rentalproperties: #TimeToBuy Home Prices Increase in Every Price Range
- 09/17/19 10:44 AM
CoreLogic’s Home Price Index (HPI) Report revealed, “National home prices increased 3.6% year over year in July 2019 and are forecast to increase 5.4% from July 2019 to July 2020.” They also analyzed four individual home-price tiers, showing the increase in each. Here’s the breakdown: To clarify the methodology, CoreLogic explains, “The four price tiers are based on the median sale price and are as follows: homes priced at 75% or less of the median (low price), homes priced between 75% and 100% of the median (low-to-middle price), homes priced between 100% and 125% of the median (middle-to-moderate price) and homes priced greater than 125% … (0 comments)
rentalproperties: #FirstTimeHomeBuyer You Need to Avoid These After Applying for a Mortgage
- 09/16/19 09:35 AM
Congratulations! You’ve found a home to buy and have applied for a mortgage! You’re undoubtedly excited about the opportunity to decorate your new home, but before you make any large purchases, move your money around, or make any big-time life changes, consult your loan officer – someone who will be able to tell you how your decisions will impact your home loan. Below is a list of Things You Shouldn’t Do After Applying for a Mortgage. Some may seem obvious, but some may not. 1. Don’t Change Jobs or the Way You Are Paid at Your Job. Your loan officer must be able to … (0 comments)
rentalproperties: Here Are 6 Graphs = Strength of the Current Housing Market #INFOGRAPHIC
- 09/13/19 09:44 AM
Some Highlights: Keeping an eye on the current status of the housing market is one of the best ways to make powerful and confident decisions when buying or selling a home. Mortgage rates remaining near historic lows and houses selling in an average of only 29 days are just two key elements driving the strength of today’s market. With the national data shown here, make sure to also determine what’s happening in your local market so you are fully informed when you’re ready to make your next move. « What Is the Probability That Home Values Sink?
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rentalproperties: Housing Bubble? What Is the Probability That Home Values DROP?
- 09/12/19 10:18 AM
With the current uncertainty about the economy triggered by a potential trade war, some people are waiting to purchase their first home or move-up to their dream house because they think or hope home prices will drop over the next few years. However, the experts disagree with this perspective. Here is a table showing the predicted levels of appreciation from six major housing sources:As we can see, every source believes home prices will continue to appreciate (albeit at lower levels than we have seen over the last several years). But, not one source is calling for residential real estate values to … (2 comments)
rentalproperties: SoCal Home Sales Expected to Continue Increasing In 2020 #TimeToBuy
- 09/09/19 12:30 PM
Freddie Mac, Fannie Mae, and the Mortgage Bankers Association are all projecting home sales will increase nicely in 2020. Below is a chart depicting the projections of each entity for 2019, as well as for 2020.As we can see, Freddie Mac, Fannie Mae, and the Mortgage Bankers Association all believe homes sales will increase steadily over the next year. If you’re a homeowner who has considered selling your house recently, now may be the best time to put it on the market.
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rentalproperties: U Need To Know How Property Taxes Can Impact Your Mortgage Payment
- 09/04/19 10:10 AM
When buying a home, taxes are one of the expenses that can make a significant difference in your monthly payment. Do you know how much you might pay for property taxes in your state or local area? When applying for a mortgage, you’ll see one of two acronyms in your paperwork – P&I or PITI – depending on how you’re including your taxes in your mortgage payment. P&I stands for Principal and Interest, and both are parts of your monthly mortgage payment that go toward paying off the loan you borrow. PITI stands for Principal, Interest, Taxes, and Insurance, and they’re all important factors to calculate when you want … (0 comments)
rentalproperties: Will Homeownership Always Be a Part of the American Dream? #TimeToBuy
- 09/02/19 11:39 AM
On Labor Day we celebrate the hard work that helps us achieve the American Dream. Growing up, many of us thought about our future lives with great ambition. We drew pictures of what jobs we wanted to have and where we would live as a representation of a secure life for ourselves and our families. Today we celebrate the workers that make this country a place where those dreams can become a reality. According to Wikipedia, “Labor Day honors the American labor movement and the contributions that workers have made to the development, growth, endurance, strength, security, prosperity, productivity, laws, sustainability, persistence, structure, and well-being of … (0 comments)
rentalproperties: Remember These Top Priorities When Moving with Your Kids #TimeToBuy
- 08/28/19 10:12 AM
According to the Pew Research Center, around 37% of U.S students will be going back to school soon and the rest have already started the new academic year. With school-aged children in your home, buying or selling a house can take on a whole different approach when it comes to finding the right size, location, school district, and more. Recently, the 2019 Moving with Kids Report from the National Association of Realtors®(NAR) studied “the different purchasing habits as well as seller preferences during the home buying and selling process.” This is what they found: When Purchasing a Home The major difference between the homebuyers who have children and those who … (0 comments)
rentalproperties: How Low Can You Go? What’s the Latest on Interest Rates?
- 08/27/19 09:47 AM
Mortgage rates have fallen by over a full percentage point since Q4 of 2018, settling at near-historic lows. This is big news for buyers looking to get more for their money in the current housing market.According to Freddie Mac’s Primary Mortgage Market Survey, “the 30-year fixed-rate mortgage (FRM) rate averaged 3.60 percent, the lowest it has been since November 2016.” Sam Khater, Chief Economist at Freddie Mac, notes how this is great news for homebuyers. He states, “…consumer sentiment remains buoyed by a strong labor market and low rates that will continue to drive home sales into the fall.” As a potential buyer, the best thing you … (0 comments)
rentalproperties: A Latte a Day Keeps Homeownership Away #INFOGRAPHIC #TimeToBuy
- 08/26/19 10:43 AM
Some Highlights: The pumpkin spice latte is launching soon, so you may be tempted to spend your extra cash on a daily caffeine fix, but that small expense can add up to a big number – fast! Saving for a down payment takes a little discipline, so limiting your extra purchases (like a latte a day from your favorite coffee shop) will help you get there faster. Depending on where you live, putting away just a small amount each day will get you to the average down payment you may need for homeownership faster than you think. My Los Angeles County … (0 comments)
rentalproperties: The Experts Predict a Strong Housing Market for the Rest of 2019
- 08/26/19 09:57 AM
We’re in the back half of the year, and with a decline in interest rates as well as home price and wage appreciation, many are wondering what the predictions are for the remainder of 2019. Here’s what some of the experts have to say: Ralph McLaughlin, Deputy Chief Economist for CoreLogic “We see the cooldown flattening or even reversing course in the coming months and expect the housing market to continue coming into balance. In the meantime, buyers are likely claiming some ground from what has been seller’s territory over the past few years. If mortgage rates stay low, wages continue to grow, and … (0 comments)
You’ve likely heard a ton about Millennials, but what about Gen Z? In the next 5 years, this generation will be between the ages of 23 and 28, and they’re eager to become homeowners faster than you may think.
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