Baby Boomers are Downsizing, Are You Ready to Move?
For a while now baby boomers have been blamed for a portion of the housing market’s current lack of housing inventory, but should they really be getting the blame?
Pre-Approval: Your 1st Step in Buying a Home
In many markets across the country, the number of buyers searching for their dream homes outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.
![Buying a Home? Do You Know the Lingo? [INFOGRAPHIC] | Keeping Current Matters](https://files.keepingcurrentmatters.com/wp-content/uploads/2018/10/09150345/20181012-Share-STM-705x385.jpg "Buying a Home? Do You Know the Lingo? [INFOGRAPHIC] | Keeping Current Matters")
Buying a Home? Do You Know the Lingo? [INFOGRAPHIC]
![Buying a Home? Do You Know the Lingo? [INFOGRAPHIC] | Keeping Current Matters](https://files.keepingcurrentmatters.com/wp-content/uploads/2018/10/09150204/20181012-KCM-ENG.jpg)
Some Highlights:
- Buying a home can be intimidating if you are not familiar with the terms used during the process.
- To start you on your path with confidence, we have compiled a list of some of the most common terms used when buying a home.
- The best way to ensure that your home-buying process is a confident one is to find a real estate professional who not only puts your family’s needs first, but will guide you through every aspect of the transaction with ‘the heart of a teacher.’
Dispelling the Myth About Home Affordability
We have all seen the headlines that report that buying a home is less affordable today than it was at any other time in the last ten years, and those headlines are accurate. But, have you ever wondered why the headlines don’t say the last 25 years, the last 20 years, or even the last 11 years?
New Home Sales Up 12.7% From Last Year
According to the latest New Residential Sales Report from the Census Bureau, new construction sales in August were up 3.5% from July and 12.7% from last year! This marks the second consecutive month with double-digit year-over-year growth (12.8% in July).
What’s Going On With Home Prices?
According to CoreLogic’s latest Home Price Insights Report, national home prices in August were up 5.5% from August 2017. This marks the first time since June 2016 that home prices did not appreciate by at least 6.0% year-over-year.
The True Cost of NOT Owning Your Home
Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for the entirety of America’s existence.
![Buying a Home is Cheaper than Renting in 38 States! [INFOGRAPHIC] | Keeping Current Matters](https://files.keepingcurrentmatters.com/wp-content/uploads/2018/10/04152602/20181005-Share-STM-705x385.jpg "Buying a Home is Cheaper than Renting in 38 States! [INFOGRAPHIC] | Keeping Current Matters")
Buying a Home is Cheaper than Renting in 38 States! [INFOGRAPHIC]
![Buying a Home is Cheaper than Renting in 38 States! [INFOGRAPHIC] | Keeping Current Matters](https://files.keepingcurrentmatters.com/wp-content/uploads/2018/10/04152548/20181005-KCM-ENG.jpg)
Some Highlights:
- According to a study by GOBankingRates, it is cheaper to buy a home than rent in 38 states across the country.
- In six states the difference between buying & renting would account for less than a $50 monthly difference, leaving the choice up to the individual family.
- Nationwide, it is now 26.3% cheaper to buy.
Are We About to Enter a Buyers’ Market?
Home sales are below last year’s levels, home values are appreciating at a slower pace, and there are reports showing purchasing demand softening. This has some thinking we may be entering a buyers’ market after sellers have had the upper hand for the past several years. Is this really happening?
2 Factors to Watch in Today’s Real Estate Market Whether Buying or Selling
When it comes to buying or selling a home there are many factors you should consider. Where you want to live, why you want to buy or sell, and who will help you along your journey are just some of those factors. When it comes to today’s real estate market, though, the top two factors to consider are what’s happening with interest rates & inventory.
Mortgage Interest Rates are Still Going Up… Should You Wait to Buy?
Mortgage interest rates, as reported by Freddie Mac, have increased by close to a quarter of a percent over the last several weeks. Freddie Mac, Fannie Mae, the Mortgage Bankers Association, and the National Association of Realtors are all calling for mortgage rates to rise another quarter of a percent by next year.
How Does the Supply of Homes for Sale Impact Buyer Demand?
The price of any item is determined by the supply of that item, as well as the market’s demand for it. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.
Should I Buy Now? Or Wait Until Next Year? [INFOGRAPHIC]
![Should I Buy Now? Or Wait Until Next Year? [INFOGRAPHIC] | Keeping Current Matters](https://files.keepingcurrentmatters.com/wp-content/uploads/2018/09/27122533/20180928-KCM-ENG.jpg)
Are Home Prices Softening or Are They Falling?
We are beginning to see reports that more housing inventory is coming to the market and that buyer demand may not be increasing at the same pace it did earlier this year. The result will be many headlines written to address the impact that these two situations will have on home values.
The Cost of NOT Paying PMI
Saving for a down payment is often the biggest hurdle for a first-time homebuyer as median incomes, rents, and home prices all vary depending on where you live.
Where Are Mortgage Interest Rates Headed In 2019?
The interest rate you pay on your home mortgage has a direct impact on your monthly payment; the higher the rate, the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search.
How Much Has Your Home Increased in Value?
Home values have risen dramatically over the last twelve months. In CoreLogic’s most recent Home Price Index Report, they revealed that national home prices have increased by 6.2% year-over-year.
4 Reasons to Sell This Fall [INFOGRAPHIC]
![4 Reasons to Sell This Fall [INFOGRAPHIC] | Keeping Current Matters](https://files.keepingcurrentmatters.com/wp-content/uploads/2018/09/20155738/20180921-KCM-ENG.jpg)
Is the Real Estate Market Finally Getting Back to Normal?
The housing market has been anything but normal for the last eleven years. In a normal real estate market, home prices appreciate 3.7% annually. Below, however, are the price swings since 2007 according to the latest Home Price Expectation Survey:
25% of Homes with a Mortgage are Now Equity Rich!
Rising home prices have been in the news a lot lately and much of the focus has been on whether home prices are accelerating too quickly, as well as how sustainable the growth in prices really is. One of the often-overlooked benefits of rising prices, however, is the impact that they have on a homeowner’s equity position.
Home Prices: The Difference 5 Years Makes
CoreLogic recently released their Home Price Index Report. One of the key indicators used in the report to determine the health of the housing market was home price appreciation. CoreLogic focused on appreciation from July 2013 to July 2018 to show how prices over the last five years have fared.
If You Are Thinking of Selling You Must Act NOW!
If you thought about selling your house this year, now more than ever may be the time to do it! The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned about the concept of supply and demand, so we understand that the best time to sell something is when the supply of that item is low and demand for that item is high. That defines today’s real estate market.
![Is Buying a Home Really More Stressful Than Planning a Wedding? [INFOGRAPHIC] | Keeping Current Matters](https://files.keepingcurrentmatters.com/wp-content/uploads/2018/09/10165503/20180914-Share-STM-705x385.jpg "Is Buying a Home Really More Stressful Than Planning a Wedding? [INFOGRAPHIC] | Keeping Current Matters")
Is Buying a Home Really More Stressful Than Planning a Wedding? [INFOGRAPHIC]
![Is Buying a HOME really MORE STRESSFUL Than Planning a WEDDING? [INFOGRAPHIC] | Keeping Current Matters](https://files.keepingcurrentmatters.com/wp-content/uploads/2018/09/10165032/20180914-KCM-ENG.jpg)
Are Homebuyers Starting to Hit the ‘Pause’ Button?
For the last several years, buyer demand has far exceeded the housing supply available for sale. This low supply and high demand have led to home prices appreciating by an average of 6.2% annually since 2012.
Home Prices Have Appreciated 6.9% in 2018
Between 1987 and 1999, which is often referred to as the ‘Pre-Bubble Period,’ home prices grew at an average of 3.6% according to the Home Price Expectation Survey.
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