first time buyers: Holiday Gifts Are Not the Only Hot Things Right Now - 12/12/19 07:46 AM

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Black Friday is behind us and holiday gifts are flying off the shelves in stores and online. Unlike last year, however, there’s another type of buyer that is very active this winter – the homebuyer.
Each month, ShowingTime releases their Showing Index, which tracks the average number of appointments received on active U.S. house listings. The latest index revealed:
“Traffic was more active once again compared to 2018, as the nation saw its third straight month of higher year-over-year showing activity…The 5.5% increase in showings nationwide was the largest jump in activity during the now three-month streak of year-over-year increases vs. 2018.”
The same report indicates showings increased … (0 comments)

first time buyers: A 365 Day Difference in Homeownership - 12/10/19 07:42 AM

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Over the past year, mortgage rates have fallen more than a full percentage point. This is a great driver for homeownership, as today’s low rates provide consumers with some significant benefits. Here’s a look at three of them:
Refinance: If you already own a home, you may want to decide if you’re going to refinance. It’s one way to lock in a lower monthly payment and save substantially over time, but it also means paying upfront closing costs too. You have to answer the question: Should I refinance my home? Move-up or Downsize: Another option is to consider moving into a new home, putting … (2 comments)

first time buyers: Millennials Are on the Move as First-Time Homebuyers [INFOGRAPHIC] - 12/06/19 07:53 AM
Some Highlights: According to NAR’s latest Profile of Home Buyers & Sellers, the median age of all first-time homebuyers is 32. With more millennials entering a homebuying phase of life, they are driving a large portion of the buyer appetite in the market, keeping buyer activity strong. More and more “old millennials” (ages 25-36) are realizing that homeownership is now within their grasp, and they’re actively dominating the first-time homebuyer market!
We hope you found this post helpful. 
Contact us today for all your real estate needs.
team@davidsonhomegroup.com 
Oh, by the way … if you know of someone who would appreciate the level of service we … (5 comments)

first time buyers: The True Cost of Not Owning Your Home - 11/26/19 10:07 AM

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There are great advantages to owning a home, yet many people continue to rent. The financial benefits are just some of the reasons why homeownership has been a part of the long-standing American dream.
Realtor.com reported that:
“Buying remains the more attractive option in the long term – that remains the American dream, and it’s true in many markets where renting has become really the shortsighted option…as people get more savings in their pockets, buying becomes the better option.”
Why is owning a home financially better than renting?Here are the top 5 financial benefits of homeownership:
Homeownership is a form of forced savings. Homeownership provides tax savings. … (0 comments)

first time buyers: The Cost Across Time [INFOGRAPHIC] - 11/22/19 06:59 AM

 Some Highlights: With interest rates around 3.66%, now is a great time to look back at where they’ve been over the past few decades. Comparatively, they’re pretty low! According to Freddie Mac, rates are projected to increase to 3.9% by this time next year. The impact your interest rate has on your monthly mortgage payment is significant. An increase of just $20 dollars in your monthly payment can add up to $240 per year and $7,200 over the life of your loan. Maybe it’s time to lock in now, while rates are still historically low. We hope you found this post informative. 
Contact us … (0 comments)

first time buyers: Here are 2 Myths Holding Back Home Buyers - 11/18/19 08:15 AM

In a recent article, First American shared how millennials are not really any different from previous generations when it comes to the goal of homeownership; it is still a huge part of their American Dream. The piece, however, also reveals,
 “Saving for a down payment is one of the biggest obstacles faced by first-time home buyers. Dispelling the 20 percent down payment myth could open the path to homeownership for many more.”
 Myth #1: “I Need a 20% Down Payment”Buyers often overestimate how much they need to qualify for a home loan. According to the same article:
“Americans still overestimate the qualifications needed to get … (0 comments)

first time buyers: Planning on Buying a Home? Be Sure You Know Your Options. - 11/05/19 06:30 AM

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When you’re ready to buy, you’ll need to determine if you prefer the charm of an existing home or the look and feel of a newer build. With limited existing home inventory available today, especially in the starter and middle-level markets, many buyers are considering a new home that’s recently been constructed, or they’re building the home of their dreams.
According to Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB),
“The second half of 2019 has seen steady gains in single-family construction, and this is mirrored by the gradual uptick in builder sentiment over the past few months.”
This is great news for homebuyers because it … (0 comments)

first time buyers: Taking the Fear Out of the Mortgage Process - 10/31/19 08:05 AM

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A considerable number of potential buyers shy away from the real estate market because they’re uncertain about the buying process – particularly when it comes to qualifying for a mortgage.
For many, the mortgage process can be scary, but it doesn’t have to be!  In order to qualify in today’s market, you’ll need a down payment (the average down payment on all loans last year was 5%, with many buyers putting down 3% or less), a stable income, and a good credit history.
Once you’re ready to apply, here are 5 easy steps Freddie Mac suggests to follow:
Find out your current credit history and credit score– … (0 comments)

first time buyers: Buying a home can be SCARY…Until you know the FACTS [INFOGRAPHIC] - 10/25/19 12:10 PM

Some Highlights:Many potential homebuyers believe they need a 20% down payment and a 780 FICO® score to qualify to buy a home. This stops many people from even trying to jump into homeownership! Here are some facts to help take the fear out of the process:
71% of buyers who purchased homes have put down less than 20%. 78.1% of loan applications were approved last month. In September, the average credit score for approved loans was 737. We hope you found this information helpful. 
Contact us today for all your real estate needs.
team@davidsonhomegroup.com 
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Oh, by the … (0 comments)

first time buyers: Think Prices Have Skyrocketed? Look at Rents. - 10/24/19 07:33 AM

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Much has been written about how residential real estate values have increased since the housing market started its recovery in 2012. However, little has been shared about what has taken place with residential rental prices. Let’s shed a little light on this subject.
In the most recent Apartment Rent Report, RentCafe explains how rents have continued to increase over the last twelve months because of a large demand and a limited supply.
 “Continued interest in rental apartments and slowing construction keeps the national average rent on a strong upward trend.”
Zillow, in its latest Rent Index, agreed that rents are continuing on an “upward trend” across most of the country, … (0 comments)

first time buyers: Depending on the Price, You’re Going to Need Advice - 10/22/19 08:48 AM

IMAGE: COURTESY SEAN PAVONE/SHUTTERSTOCK To understand today’s complex real estate market, it is critical to have a local, trusted advisor on your side – for more reasons than you may think.
In real estate today, there are essentially three different price points in the market: the starter-home market, the middle-home market, and the premium or luxury market. Each one is unique, and depending on the city, the price point in these categories will vary. For example, a starter or lower-end home in San Francisco, California is much more expensive than almost any other part of the country. Let’s explore what you need to know about each of these tiers.
Starter-Home Market: This market varies … (0 comments)

first time buyers: 5 Tips for Starting Your Home Search - 10/21/19 09:18 AM

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In today’s market, low inventory dominates the conversation in many areas of the country. It can often be frustrating to be a first-time homebuyer if you aren’t prepared. Here are five tips from realtor.com’s article, “How to Find Your Dream Home—Without Losing Your Mind.”
1. Get Pre-Approved for a Mortgage Before You Start Your Search
One way to show you’re serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage. Even if you’re in a market that is not as competitive, understanding your budget will give you the confidence of knowing whether or not your dream home is within your reach. This will … (2 comments)

first time buyers: Gen Z: The Next Generation of Homebuyers - 10/15/19 09:28 AM

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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 little deeper … (0 comments)

first time buyers: What You Need to Know About the Mortgage Process - 10/11/19 07:37 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. We hope you found this information helpful. 
Contact us today for all your real estate needs.
team@davidsonhomegroup.com 
Download Our Home Search App
Portland-Vancouver Home Price Check
Oh, by the way … if you know of someone who would appreciate the level of service we provide, please call us with their name and business number.  We’ll … (0 comments)

first time buyers: What FICO® Score Do You Need to Qualify for a Mortgage? - 10/08/19 08:37 AM

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While a recent announcement from CNBC shares that the average national FICO® score has reached an all-time high of 706, the good news for potential buyers is that you don’t need a score that high to qualify for a mortgage. Let’s unpack the credit score myth so you can to become a homeowner sooner than you may think.
With today’s low interest rates, many believe now is a great time to buy – and rightfully so! Fannie Mae recently noted that 58% of Americans surveyed say it is a good time to buy. Similarly, the Q3 2019 HOME Survey by the National Association of Realtors said 63% of people believe now is … (0 comments)

first time buyers: 62% of Buyers Are Wrong About Down Payment Needs - 10/07/19 09:03 AM

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According to the ‘2019 Home Buyer Report’ conducted by Nerdwallet, many first-time buyers still believe they need a 20% down payment to buy a home in today’s market:
“More than 6 in 10 (62%) Americans believe you must put at least 20% down in order to purchase a home.”
When potential homebuyers think they need a 20% down payment to enter the market, they also tend to think they’ll have to wait several years (in some markets) to come up with the necessary funds to buy their dream homes. The report continues to say,
“The truth: 32% of current U.S. homeowners put 5% or less down on their home, … (0 comments)

first time buyers: 5 Homebuying Acronyms You Need to Know - 10/04/19 09:16 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. We hope you found this information helpful. 
Contact us today for all your real estate needs.
team@davidsonhomegroup.com 
Download Our Home Search App
Portland-Vancouver Home Price Check
Oh, by the way … if you know of someone who would appreciate … (0 comments)

first time buyers: What to Expect from Your Home Inspection - 10/01/19 08:45 AM

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You made an offer and it was accepted. Your next task is to have the home inspected prior to closing. Agents often recommend you make your offer contingent upon a clean home inspection.
This contingency allows you to renegotiate the price you offered for the home, ask the sellers to cover repairs, or in some cases, walk away if challenges arise. 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 they’ve worked with in the past to recommend to … (0 comments)

first time buyers: What Is the Cost of Waiting Until Next Year to Buy? [INFOGRAPHIC] - 09/27/19 07:41 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.
 BORED WAITING GIF BY NDRWe hope you found this information helpful. 
Contact us today for all your real estate needs.
team@davidsonhomegroup.com 
Download Our Home Search App
Portland-Vancouver Home Price Check
Oh, by the way … if … (0 comments)

first time buyers: One of the Top Reasons to Own a Home - 09/19/19 09:53 AM

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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)

 
Kurt Davidson, Gratefully Serving Greater Portland-Vancouver (Davidson Home Group | Keller Williams Portland Central) Rainmaker large

Kurt Davidson

Gratefully Serving Greater Portland-Vancouver

Portland, OR

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Davidson Home Group | Keller Williams Portland Central

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