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Rents in the United States have been skyrocketing since 2012. This has caused many renters to face a tremendous burden when juggling their housing expenses and the desire to save for a down payment at the same time. The recent stabilization of rental prices provides a great opportunity for renters to save more of their current income to put toward the purchase of a home. Just last week the Joint Center of Housing Studies of Harvard University released the America’s Rental Housing 2020 Report. … [Read more...]
Make the Dream of Homeownership a Reality in 2020!
In 1963, Martin Luther King, Jr. led and inspired a powerful movement with his famous “I Have a Dream” speech. Through his passion and determination, he sparked interest, ambition, and courage in his audience. Today, reflecting on his message encourages many of us to think about our own dreams, goals, beliefs, and aspirations. For many Americans, one of those common goals is owning a home: a piece of land, a roof over our heads, and a place where our families can grow and flourish. If you’re … [Read more...]
Homes Are More Affordable Today, Not Less Affordable…
There’s a current narrative that owning a home today is less affordable than it has been in the past. The reason some are making this claim is because house prices have substantially increased over the last several years. It’s not, however, just the price of a home that matters. Homes, in most cases, are purchased with a mortgage. The current mortgage rate is a major component of the affordability equation. Mortgage rates have fallen by over a full percentage point since December 2018. … [Read more...]
There’s a Long Line of Buyers Waiting for Your House…
If you’re following what’s happening in the housing market right now, you know that many people believe the winter months aren’t a good time to sell a home. As realtor.com Senior Economist George Ratiu recently noted, “Sellers tend to be more reluctant to list during the colder time of year when the market typically makes a seasonal slowdown.” However, a recent report by ShowingTime reveals how this year is different. Buyer activity is way up compared to the same time last year. The report … [Read more...]
The #1 Reason to List Your House in the Winter…
Many sellers believe spring is the best time to put their homes on the market because buyer demand traditionally increases at that time of year. What they don’t realize is if every homeowner believes the same thing, then that’s when they’ll have the most competition. So, what’s the #1 reason to list your house in the winter? Less competition. Housing supply traditionally shrinks at this time of year, so the choices buyers have will be limited. The chart below was created using the months … [Read more...]
Starting the Search for Your Dream Home? Here Are 5 Tips…
In today’s real estate 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. In a realtor.com article entitled, “How to Find Your Dream Home—Without Losing Your Mind,” the author highlights some steps that first-time homebuyers can take to help carry their excitement of buying a home throughout the whole process. 1. Get Pre-Approved for a Mortgage Before You Start Your Search One way to … [Read more...]
A Lack of Inventory Continues to Impact the Housing Market…
The housing crisis is finally in the rear-view mirror as the real estate market moves down the road to a complete recovery. Home values are up and distressed sales (foreclosures and short sales) have fallen to their lowest point in years. The market will continue to strengthen in 2019. However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory! Buyer demand naturally increases during the summer months, but supply has not kept up. Here are the … [Read more...]
What Would Make You Sell Your House?
There are many reasons why a homeowner decides to sell their house and move. The latest Generational Trends Report from the National Association of Realtors asked recent home sellers to share their reason for moving. The younger the respondents, the more likely their top response centered around needing a larger home (ages 29 to 53). Relocating for a job was the top reason for those ages 54 to 63 and the second most popular response for those under 53. The chart below shows the breakdown for … [Read more...]
