update: Equity Rises For A Quarter Of Homes On Mortgages - 09/21/18 03:42 PM
If you're debating on moving to your dream home, you might be in luck. In some areas in the U.S. home equities rise which could give way to spending less for the long-awaited dream home for the lucky 25% of homeowners with a mortgage.
Home equity is defined as the difference between the home's fair market value and the outstanding balance of all liens (loans) on the property. While homeowners pay down their mortgages, the amount of equity they have in their homes climbs each time the value of their homes go up!
According to the latest Equity Report from ATTOM Data Solutions, … (0 comments)

update: Are Home Sales Slowing Down To A Halt? - 09/14/18 02:24 PM
There are no complex forces at work here, just a normal case on Supply and Demand imbalance. Figures shown below are from the best and most reliable source explaining the future of the market. Let's find out more.
The Foot Traffic Report
by the National Association of Realtors
Methodology: Every month SentriLock, LLC provides NAR Research with data on the number of properties shown by a REALTOR. Lockboxes made by SentriLock, LLC are used in roughly a third of home showings across the nation. Foot traffic has a strong correlation with future contracts and home sales, so it can be viewed as a peek … (0 comments)

update: Owning A Home Beats Renting By 44% - 08/21/18 03:00 PM
If you think about it, it makes sense to pay for something monthly that you know will be yours in a few years time. You can consider your monthly amortization a deposit to your personal savings, only you cannot withdraw cash from it.
A study revealed that the median net worth of a homeowner was $231,400 - a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).
These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter.
Owning a … (0 comments)

update: New Players Are Coming In The Market - 08/14/18 02:29 PM
Currently, sellers are enjoying huge if not undivided attention from buyers as their visibility is at peak. There are reports, however, that this will change in the following months to come as permits for single-family units are granted.
According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the number of building permits issued in June was 850,000, a 0.8% increase from May.
​ How will this impact buyers? ​
More inventory means more options. Mark Fleming, First American's Chief Economist, explained that this is good news for the housing market – especially for those looking to buy:
"The continued year-over-year growth in completions means more homes … (1 comments)

update: Continuous Growth Of Millennial Homebuyers Shows No Sign Of Stopping - 08/09/18 02:03 PM
More and more Millennials turn up eager, ready and capable of becoming a homeowner. As the demand grows and supplies dwindle, there will be strict competition in the real estate arena. Here are a few things you need to know before you enter the market.
Comparatively speaking, millennials have taken longer to obtain traditional milestones (like getting married, having kids and buying a home) than generations before them, but that does not mean that they do not aspire to still achieve those things.
For older millennials (aged 25-34) who have established themselves in their career and are starting to build their families, homeownership … (0 comments)

update: We Could Be Sitting On A Gold Mine - 08/07/18 02:00 PM
If we work on it right, every one of us could be sitting on our very own gold mine. According to millionaire David Bach, buying a home could be our ticket to wealth. This may sound counter-intuitive to some if given some thought will actually make a lot of sense. Homes have been at the top of the list of peoples investments for centuries.
In a CNBC article, self-made millionaire David Bach explained that:
"Buying a home is the escalator to wealth in America. Homeownership can also help you retire early, that is, if you pay your mortgage off."
Bach suggests that homebuyers should, "Take out a … (1 comments)

update: Now Is The Best Time To Put Your House In The Market - 08/03/18 02:14 PM
It's a simple case of supply and demand. Lower inventory equates to higher demand which in turn leads to faster sales and occasionally, even higher prices. So this means higher yield, less time in the market with little effort. Let's discuss.
The National Association of Realtors (NAR) released the results of their latest Existing Home Sales Report which revealed that home sales declined 0.6% to a seasonally adjusted annual rate of 5.38 million in June from 5.41 million in May, and are 2.2% below a year ago.
Some may look at these numbers and think that now is a bad time to sell their house, but in … (1 comments)

update: Will Recent Mortgage Changes Lead To Another Disaster? - 08/02/18 02:52 PM
Most people can't help but be concerned that mortgages changes may lead to another disaster, and we can't blame them for we've been there before.The question remains, is there any foothold to peoples worries? Are lending standards truly propping up our home prices?
Back in 2005, Federal Reserve Chairman Alan Greenspan described the dramatic increases in residential real estate values as a "froth in housing markets." Greenspan went on to say:
"The increase in the prevalence of interest-only loans and the introduction of more-exotic forms of adjustable-rate mortgages are developments of particular concern...some households may be employing these instruments to purchase homes that would otherwise be unaffordable, … (0 comments)

update: Is Buying Cheaper Than Renting? - 08/01/18 02:49 PM
Despite the common belief that renting will save you more bucks, research shows a big gap in between buying and renting wherein for the first time in six years favors going to the former.
The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting, with a traditional 30-year fixed rate mortgage, in 98 of the 100 largest metro areas in the United States. In the six years that Trulia has conducted this study, this is the first time that it was cheaper to rent than buy in any of the metropolitan areas.
It's no surprise, however, that those two metros are … (1 comments)

update: We Matter More Than The Sale - 07/31/18 02:26 PM
Not all agents are the same, some may be better than others particularly because of their knowledge of the demographics and there are some who just have the right priorities. Let's talk about what you should look for in an agent before deciding to hire them.
One great example of an agent who is in your corner and is always looking out for your best interests is one of the main characters on ABC's Modern Family, Phil Dunphy.
For those who aren't familiar with the character, Phil is a REALTOR® with a huge heart who always strives to do his best for his family and his clients.
In … (2 comments)

update: Do You Need A New Home Before Retirement? - 07/25/18 02:50 PM
Lifestyle changes are dramatic during retirement, so is the change in finances. The question is, "will your home be still a good fit for you after retirement?".There are a lot of factors to consider in order to determine if your current home will still be sustainable after you retire.
According to the National Association of Exclusive Buyers Agents (NAEBA), there are 7 factors that you should consider when choosing your retirement home.
1. Affordability
"It may be easy enough to afford your home today but think long-term about your monthly costs. Account for property taxes, insurance, HOA fees, utilities - all the things that will be due whether … (0 comments)

update: Two Steps To Ensure You Sell Your Home With The Best Price - 07/24/18 02:40 PM
Sometimes to be able to get the best out of things, we must act against our gut will. This applies to what we are about to discuss with you today. Selling your home may sound to be simple enough, but not when you what to get the best price for your home's value at the time. Here are two sure way to sell your home for the best value.
1. Price it a Little Low ​
This may seem counterintuitive, but let's take a look at this concept for a moment. Many homeowners think that pricing their homes a little OVER market value … (1 comments)

update: How Will The Next Recession Affect Housing? - 07/19/18 03:30 PM
With experts forecasting the next recession in the horizons, how will the real estate industry be affected? The good news is, it will not fall victim to the next economic storm at all.
Here are the opinions of several experts on the subject:
 
Reference: https://bit.ly/2NxaFQ3
www.NYREEX.com

(0 comments)

update: Homes: Demand vs Supply - 07/18/18 01:50 PM
Despite the forecasts of mortgage rate rise, demand for homes has continuously outnumbered its supply. Let's find out why.
According to the National Association of Realtors (NAR), the inventory of homes for sale "has fallen year-over-year for 36 consecutive months," and now stands at a 4.1-month supply. A 6-month supply of inventory is necessary for a balanced market and has not been seen since August of 2012.
NAR’s Chief Economist Lawrence Yun had this to say, Is There Any Relief Coming? According to the CoreLogic's 2018 Consumer Housing Sentiment Study, four times as many renters are considering buying homes in the next 12 months than homeowners who are planning to sell, "which is the … (1 comments)

update: Buying A Home Is More Than Just Fulfilling The American Dream - 07/17/18 03:07 PM
We work hard, we get a good job, we start a family, we buy a house and then, when we're done with that house, we buy a bigger one. We accumulate wealth in our home and then pass that wealth on to our children, who will be better off than us. That's the American dream. Now let's take a closer look at some more personal reasons why we buy homes.
1. Owning your home offers you the stability to start and raise a family
Between the best neighborhoods and the best school districts, even buyers without children at the time of purchase may … (2 comments)

update: Home Purchasing Power Approaching Record High? - 07/12/18 01:13 PM
It is given that purchasing power is always desired. But with all the current trends in the real estate industry, how true is it that many believe that house-buying power is near historic levels?
We keep hearing that home affordability is approaching crisis levels. While this may be true in a few metros across the country, housing affordability is not a challenge in the clear majority of the country. In their most recent Real House Price Index, First American reported that consumer "house-buying power" is at "near-historic levels." Their index is based on three components:
Median Household Income Mortgage Interest Rates Home Prices The report … (1 comments)

update: Best Home Insurance Providers Of 2018 - 07/10/18 02:52 PM

Nowadays, people buy insurance for all sorts of things they hold dear. Jewelry, pets, computer equipment and believe it or not, even body parts. It gives one peace of mind and a sense of security to know their possessions are safe. All the more reason why your home should be insured with the best insurance provider you can find. Here a few things you need to know about home insurance and the top providers of 2018.
The first thing you need to know about homeowners insurance is what it covers. One well-known aspect of homeowners insurance is that it covers your dwelling … (0 comments)

update: Why Deciding To Buy A Home Now May Save You Money - 07/05/18 01:53 PM
Overall price, initial cash out, monthly amortization etc. are the things we look out for in buying a home. A lot of these may seem higher than it used to last year, but what most do not know is that it is lower compared to how it used to way back.
However, it is not just the price of a home that determines its affordability. The monthly cost of a home is determined by the price and the interest rate on the mortgage used to purchase it.
Today, mortgage interest rates stand at about 4.5%. The average annual mortgage interest rate from 1985 to 2000 … (0 comments)

update: Why You Need To Partner With An Agent To Sell Your Home - 07/03/18 01:39 PM

 
In the early times, selling may be defined simply as "the process of handing over something in exchange for money." Nowadays, with technology upping the ante with marketing and promotional media platforms, and payment methods and terms adding to the already complicated ordeal. Selling your home can be quite a process.
In order to accomplish all three goals, a seller should realize the importance of using a real estate professional. We realize that technology has changed a buyer’s behavior during the home buying process. According to the National Association of Realtors" 2018 Home Buyer & Seller Generational Trends Report, the first step … (2 comments)

update: Will The Next Recession Affect The Real Estate Industry? - 06/28/18 02:56 PM
There has been a lot of talk regarding when the next recession could be, we all remember that the housing crisis in 2008 caused the last recession. Is there a likelihood of that repeating itself?
Economists and analysts know that the country has experienced economic growth for almost a decade. They also know that a recession can’t be too far off. A recent report by Zillow Research shed light on a survey conducted by Pulsenomics in which they asked economists, investment strategists and market analysts how they felt about the current housing market.
That report revealed the possible timing of the next recession: That timing concurs with a recent survey of … (0 comments)