No… You Do Not Need 20% Down to Buy NOW!

No... You Do Not Need 20% Down to Buy NOW! The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. The results of the survey show that non-homeowners cite the main reason for not currently owning a home, as not being able to afford one. This brings us to two major misconceptions that we want to address today. 1. Down … [Read more...]

Happily Ever Homeowner

Happily Ever Homeowner Married couples once again dominated the first-time homebuyer statistics last year at 66% of all buyers, according to the most recent Profile of Home Buyers & Sellers. It is no surprise that having two incomes to save for down payments and contribute to monthly housing costs makes buying a home more attainable. Many couples are deciding to use what would otherwise be their wedding fund as a down payment on their first home, as unmarried couples made up 8% of … [Read more...]

Looking for Your Dream Home? Know What You Want vs. What You Need

Looking for Your Dream Home? Know What You Want vs. What You Need 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 … [Read more...]

4 Reasons to Buy a Home This Fall!

4 Reasons to Buy a Home This Fall! Here are four great reasons to consider buying a home today, instead of waiting. 1. Prices Will Continue to Rise CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.0% over the next year. The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes … [Read more...]

How Supply and Demand Impacts Real Estate Home Values

How Supply and Demand Impacts Real Estate Home Values  Some Highlights: The concept of supply & demand is a simple one. The best time to sell something is when the supply of that item is low & the demand for that item is high! Anything under a 6-month supply is a seller’s market! Nationally, there has not been a 6-months inventory supply since August 2012! Inventory levels differ depending on the area of the country and price range, so let’s get together to discuss … [Read more...]

Empty Nesters: Best to Remodel or Time to Sell?

Empty Nesters: Best to Remodel or Time to Sell? Your children have finally moved out and you and your spouse now live alone in a four-bedroom colonial (or a similar type of house). You have two choices to make: Remodel your house to fit your current lifestyle and needs Sell your house and purchase the perfect home Based on the record of dollars spent on remodeling and renovations, it appears that many homeowners are deciding on number one. But, is that the best long-term … [Read more...]

Where Are the Home Prices Heading in The Next 5 Years?

Where Are the Home Prices Heading in The Next 5 Years? Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey . Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts, and investment & market strategists about where they believe prices are headed over the next five years. They then average the projections of all 100+ experts into a single … [Read more...]

Don’t Disqualify Yourself… 52% of Approved Loans Have A FICO® Score Under 750

Don't Disqualify Yourself... 52% of Approved Loans Have A FICO® Score Under 750 The results of countless studies have shown that potential home buyers, and even current homeowners, have an inflated view of what is really required to qualify for a mortgage in today’s market. One such study by the Wharton School of Business at the University of Pennsylvaniarevealed that many millennials have not yet considered purchasing homes simply because they don’t believe they can qualify for a … [Read more...]

Home Prices Up 6.64% Across the Country!

Home Prices Up 6.64% Across the Country!  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! Alaska & West Virginia were the only states where home prices are lower than they were last year. … [Read more...]

More Boomerang Buyers Are about to Enter the Market

More Boomerang Buyers Are about to Enter the Market We previously informed you about a study conducted by TransUnion titled, “The Bubble, the Burst and Now – What Happened to the Consumer?” The study revealed that 1.5 million homeowners who were negatively impacted by the housing crisis could re-enter the housing market between 2016-2019. Recently, HousingWire analyzed data from the US Bankruptcy Courts and revealed that 6 million Americans will have their bankruptcies disappear off … [Read more...]