Gen Zers are the next generation of homeowners, and they’re eager to jump in and buy their first homes. Whether you are part of this generation or any other, it’s never too early to start saving, so you can reach your homeownership goal sooner rather than later.

Some Highlights

• Many buyers are purchasing homes with down payments as little as 3%.
• You may already qualify for a loan, even if you don’t have perfect credit.
• Your local professionals are here to help you determine how much you can afford, so take advantage of the opportunity to learn more.

In today’s world, hiring an agent who has a finger on the pulse of the market will make your buying or selling experience an educated one.

Recently two U.S. Census Bureau researchers released their findings on the biggest determinants of household wealth. What they found may help shape your view on building your family’s net worth.

It’s common knowledge that your FICO® score plays an important role in the homebuying process. However, many buyers have misconceptions regarding what exactly is required to get the loans they need.

Contrary to common misconception, a down payment is often much less than many believe.

Some Highlights

• Learning the lingo of homebuying is an important part of feeling successful when buying a home.
• From APR to P&I, you need to know the acronyms that will come up along the way, and what they mean when you hear them.
• Your local professionals are here to help you feel confident and informed from start to finish…and this infographic will help you as you go.

You made an offer and it was accepted. Your next task is to have the home inspected prior to closing. Agents often recommend you make your offer contingent upon a clean home inspection.

The latest edition of the Realtors Confidence Index from NAR sheds some light on the relationship between seller traffic (supply) and buyer traffic (demand). Until the supply of homes for sale starts to meet buyer demand, prices will continue to rise.

Some Highlights

• The “cost of waiting to buy” is defined as the additional funds necessary to buy a home if prices and interest rates were to increase over a period of time.
• Freddie Mac forecasts interest rates will rise to 3.8% by Q4 2020.
• CoreLogic predicts home prices will appreciate by 5.4% over the next 12 months.
• If you’re ready and willing to buy your dream home, now is a great time to buy.

 

When people talk about homeownership and the American Dream, much of the conversation revolves around the financial benefits of owning a home. However, two recent studies show that the non-financial benefits might be even more valuable.

According to a new study from realtor.com, the week of September 22 is the best time of year to buy a home, making it ‘Black Friday’ for homebuyers.

One of the benefits of homeownership is that it is a “forced savings plan.” Here’s how it works: You make a mortgage payment each month. Part of that payment is applied to the principal balance of your mortgage. Each month you owe less on the home. The difference between the value of the home and what you owe is called equity.

When searching for a home, you may end up selecting a property in a community with a Homeowners Association (HOA). Before you buy, it’s important to know how an HOA works and what they mean for you.

Congratulations! You’ve found a home to buy and have applied for a mortgage! You're undoubtedly excited about the opportunity to decorate your new home, but before you make any large purchases, move your money around, or make any big-time life changes, consult your loan officer – someone who will be able to tell you how your decisions will impact your home loan.

Some Highlights

• Keeping an eye on the current status of the housing market is one of the best ways to make powerful and confident decisions when buying or selling a home.
• Mortgage rates remaining near historic lows and houses selling in an average of only 29 days are just two key elements driving the strength of today’s market.
• With the national data shown here, make sure to also determine what’s happening in your local market so you are fully informed when you’re ready to make your next move.

With the current uncertainty about the economy triggered by a potential trade war, some people are waiting to purchase their first home or move-up to their dream house because they think or hope home prices will drop over the next few years. However, the experts disagree with this perspective.

In a recent article by Realtor Magazine, Mark Fleming, Chief Economist of First American Financial Corporation, notes, “The largest group of millennials by birth year will turn 30 in 2020, which puts them entering their prime homebuying years”.

Some Highlights

• Hiring a real estate professional to help you buy your dream home or sell your current house is one of the most powerful decisions you can make.
• A real estate professional has the experience to help you confidently navigate through the entire process.
• Make sure you work with someone who knows the current market conditions and can simply and effectively explain them to you and your family.

 

Last week realtor.com released the results of a survey that produced three major revelations:

53% of home purchasers (first-time and repeat buyers) currently in the market believe a recession will occur this year or next.

57% believe the next recession will be as bad or worse than 2008.

55% said they would cancel plans to move if a recession occurred.

When buying a home, taxes are one of the expenses that can make a significant difference in your monthly payment. Do you know how much you might pay for property taxes in your state or local area?

Below are 5 compelling reasons listing your home for sale this fall makes sense.

On Labor Day we celebrate the hard work that helps us achieve the American Dream.

Some Highlights

• There is plenty of talk in the media about a pending economic slowdown.
• The good news is, home values actually increased in 3 of the last 5 U.S. recessions, and decreased by less than 2% in the 4th.
• Many experts predict a potential recession is on the horizon. However, housing will not be the trigger, and home values will still continue to appreciate. It will not be a repeat of the crash in the 2008 housing market.

When thinking about selling their house, homeowners have many options. A relatively new option is using an “iBuyer.” What is an iBuyer?