renters: Can You Afford to Buy a Home? - 10/30/19 08:25 AM

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The gap between the increase in personal income and residential real estate prices has been used to defend the concept that we are experiencing an affordability crisis in housing today.
It is true that home prices and wages are two key elements in any affordability equation. There is, however, an extremely important third component to that equation: mortgage interest rates.
Mortgage interest rates have fallen by more than a full percentage point from this time last year. Today’s rate is 3.75%; it was 4.86% at this time last year. This has dramatically increased a purchaser’s ability to afford a home.
Here are three reports validating … (0 comments)

renters: 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)

renters: The Cost of Renting vs. Buying [INFOGRAPHIC] - 06/08/18 06:23 AM
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What’s my HOME WORTH in today’s market?
 
Some Highlights: Historically, the choice between renting or buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (28.8%) vs. the percentage needed to buy a median-priced home (17.1%), the choice becomes obvious. Every market is different. Before you renew your lease again, find out if you can put your housing costs to work by buying this year!  
We hope you found this information helpful. Contact us today for all your real estate needs. 
 
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What’s my HOME … (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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