Real estate blog entries tagged with timetobuy by Chris B Johnson REALTOR®, 5 Star Rated REALTOR® Quality, Not Quantity (Allison James Elite)

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timetobuy: 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)

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

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timetobuy: Home Prices Up 5.05% Across the Country #INFOGRAPHIC - 07/26/19 08:45 AM

Some Highlights: The Federal Housing Finance Agency (FHFA) recently released their latest Quarterly Home Price Index report. In the report, home prices are compared both regionally and by state. Based on the latest numbers, if you plan on relocating to another state, waiting to move may end up costing you more!
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Blog Archive ▼ 2019 (197) ▼ July (20) Three Powerful Reasons You Should Buy a Home Now #... 3 Stats You Need to Know Mid-Year Housing Market U... Here's What "The Experts" are … (0 comments)

timetobuy: Three Powerful Reasons You Should Buy a Home Now #TimeToBuy - 07/25/19 10:20 AM

Whether you are a first-time buyer or looking to move up to the home of your dreams, now is a great time to purchase a home. Here are three major reasons to buy today.
1. Affordability Many people focus solely on price when talking about home affordability. Since home prices have appreciated throughout the past year, they assume homes are less affordable. However, affordability is determined by three components:
Price Wages Mortgage Interest Rate Prices are up, but so are wages – and interest rates have recently dropped dramatically (see #2 below). As a result, the National Association of Realtors’ (NAR) latest Affordability Index report … (0 comments)

timetobuy: 3 Stats You Need to Know: Mid-Year Housing Market Update - 07/24/19 10:03 AM

Shifting trends and industry-leading research are pointing toward some valuable projections about the status of the housing market for the rest of the year.
If you’re thinking of buying or selling, or if you just want to know what experts are saying is on the horizon, here are the top three things to put on your radar as we head into the coming months:
Home prices are appreciating at a more normal rate: Home prices have been appreciating for about ten years now. Experts at the Home Price Expectation Survey, Mortgage Bankers Association, Freddie Mac, and Fannie Mae are forecasting continued growth throughout the next year, although … (0 comments)

timetobuy: Here's What "The Experts" are Saying About the Current Housing Market - 07/23/19 09:32 AM

We’re halfway through the year, and with a decline in interest rates as well as home price and wage appreciation, many are wondering what the experts predict for the second half of 2019.
Here’s what some have to say: Danielle Hale, Chief Economist at realtor.com
“Lower mortgage rates, higher wages and more homes for sale have helped counteract rising home prices, and ultimately, made it so that buyers are able to afford more than last year.”
“Our outlook implies 4% growth for the remaining months of the year, predicated on…more supply than last year, the decline in mortgage rates, moderating home price appreciation and … (1 comments)

timetobuy: There IS A Cost to Waiting: Interest Rates Edition #INFOGRAPHIC - 07/19/19 09:25 AM

Some Highlights: Interest rates are projected to increase steadily heading into 2020. The higher your interest rate, the more money you will end up paying for your home and the higher your monthly payment will be. Rates are still low right now – don’t wait until they hit 5% to start searching for your dream home! What is My Home Worth? To Get A Market SnapShot Click Here Facebook Badge Chris B Johnson
Blog Archive ▼ 2019 (192) ▼ July (15) Surprising Profile of the Real Estate Investor #Fi... What a Difference a Year Makes for Sellers #TimeTo... Mortgage Rates Continue Down Should I Refinance My... Home … (0 comments)

timetobuy: Mortgage Rates Continue Down, Should I Refinance My Home? - 07/16/19 09:27 AM

With the recent lower interest rates, many homeowners are wondering if they should refinance.
To decide if refinancing is the best option for your family, start by asking yourself these questions:
Why do you want to refinance? There are many reasons to refinance, but here are three of the most common ones:
Lower your interest rate and payment – This is the most popular reason. If you have a 5% interest rate or higher, it might be worth seeing if you can take advantage of the current lower interest rates, hovering below 4%, to reduce your monthly payment and overall cost of … (0 comments)

timetobuy: 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!
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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)

timetobuy: 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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timetobuy: 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)

timetobuy: #FirstTimeBuyers Know What to Expect at Your Home Inspection - 06/27/19 09:24 AM

So you made an offer and it was accepted. Now, your next task is to have the home inspected prior to closing. Agents oftentimes make your offer contingent on a clean home inspection.
This contingency allows you to renegotiate the price you paid for the home, ask the sellers to cover repairs, or in some cases, to walk away. Your agent can advise you on the best course of action once the report is filed.
How to Choose an Inspector Your agent will most likely have a short list of inspectors that they have worked with in the past that they can recommend … (0 comments)

timetobuy: #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)

timetobuy: #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)

timetobuy: #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)

timetobuy: 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)

timetobuy: 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)

timetobuy: 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)

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

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https://www.google.com/analytics/web/#home/a69066132w111663562p116541675/

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timetobuy: 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)

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