4 Reasons Spring is a Great Time to Buy a Home!
Here are four great reasons to consider buying a home today instead of waiting.
The Difference an Hour Will Make This Spring [INFOGRAPHIC]
![The Difference an Hour Will Make This Spring [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2018/03/The-Difference-a-Hour-Makes-STM.jpg)
Some Highlights
- Don’t forget to set your clocks forward this Sunday, March 11th at 2:00 AM EST in observance of Daylight Saving Time.
- Unless of course, you are a resident of Arizona or Hawaii!
- Every hour in the United States: 614 homes are sold, 81 homes regain equity (meaning they are no longer underwater on their mortgage), and the median home price rises $1.51!
A New Housing Bubble Forming…Not Before 2024!
A recent report by CoreLogic revealed that U.S. home values appreciated by more than 37% over the last five years. Some are concerned that this is evidence we may be on the verge of another housing “boom & bust” like the one we experienced from 2006-2008.
Home Prices: The Difference 5 Years Makes
The economists at CoreLogic recently released a special report entitled, Evaluating the Housing Market Since the Great Recession. The goal of the report was to look at economic recovery since the Great Recession of December 2007 through June 2009.
Competition is Coming, Are You Thinking of Selling Your Home?
The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the number of these permits were up 7.4% over last year.
Are Home Values Really Overinflated?
Last week, the National Association of Realtors (NAR) released their most recent Existing Home Sales Report. According to the report:
It's Tax Season… Use Your Refund to Jump Start Your Down Payment Savings!
According to data released by the Internal Revenue Service (IRS), Americans can expect an estimated average refund of $2,840 this year when filing their taxes. This is down slightly from the average refund of $2,895, last year.
Is Now a Good Time to Rent?
People often ask if now is a good time to buy a home, but nobody ever asks when it’s a good time to rent. Regardless, we want to make certain that everyone understands that today is NOT a good time to rent.
The Mortgage Process: What You Need to Know [INFOGRAPHIC]
![The Mortgage Process: What You Need to Know [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2018/02/Mortgage-Process-STM.jpg)
Some Highlights
- Many buyers are purchasing a home with a down payment as little as 3%.
- You may already qualify for a loan, even if you don't have perfect credit.
- Take advantage of the knowledge of your local professionals who are there to help you determine how much you can afford.
Mortgage Rates on FIRE! Home Prices Up in Smoke?
Mortgage interest rates have already risen by over a quarter of a percentage point in 2018. Many are projecting that rates could increase to 5% by the end of the year.
80% of Renters Believe Homeownership is a Part of Their American Dream
According to the latest Aspiring Home Buyers Profile by the National Association of Realtors (NAR), 82% of surveyed renters desire to own a home in the future, with 80% believing homeownership is a big part of achieving their American Dream.
Top 5 Reasons to Hire a Real Estate Professional When Buying or Selling!
Whether you are buying or selling a home it can be quite the adventure, which is why you need an experienced real estate professional to guide you on the path to achieving your ultimate goal. But in this world of instant gratification and internet searches, many sellers think that they can ‘For Sale by Owner’ or ‘FSBO.’
Should I Wait Until Next Year to Buy? Or Buy Now? [INFOGRAPHIC]
![Should I Wait until next Year to Buy? Or Buy Now? [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2018/02/Cost-of-Waiting-STM.jpg)
Some Highlights
- The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time.
- Freddie Mac predicts interest rates to rise to 5.1% by 2019.
- CoreLogic predicts home prices to appreciate by 4.3% over the next 12 months.
- If you are ready and willing to buy your dream home, find out if you are able to!
Calm Down! The Real Estate Market is NOT Falling Apart
There has been tremendous volatility in certain markets over the last few weeks (for example, the stock and currency markets). When this happens, some tend to lump all of their investments together and create an almost ‘Armageddon’ scenario where everything loses value quickly and dramatically. Real estate is an investment that can get caught up in this hysteria. Does the concern about the current housing market have merit?
Which Comes First… Marriage or Mortgage?
According to the National Association of REALTORS most recent Profile of Home Buyers & Sellers, married couples once again dominated the first-time homebuyer statistics in 2017 at 57% of all buyers. 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.
Low Inventory Pushes Home Prices Higher
According to CoreLogic’s latest Home Price Index, prices appreciated by 6.9% year-over-year from December 2016 to December 2017 on a national level. This marks the fifth month in a row with at least a 6.9% increase.
5 Reasons to Love Using A Real Estate Pro [INFOGRAPHIC]
![5 Reasons to Love Using A RE Pro [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2018/01/5-Reasons-to-Love-STM.jpg)
Highlights:
- Hiring a real estate professional to guide you through the process of buying a home or selling your house can be one of the best decisions you make!
- They are there for you to help with paperwork, understanding the process, negotiations, and helping you with pricing (both when making an offer or setting the right price for your home).
- One of the top reasons to hire a real estate professional is their understanding of your local market and how the conditions in your neighborhood will impact your experience.
Some Highlights
Homeownership: "The Reports of My Death Have Been Greatly Exaggerated"
The famous quote by Mark Twain in the title of this article can be used to describe homeownership in America today. Last week, the Census revealed that the percentage of homeowners in the country increased for the first time in thirteen years.
Where Are Mortgage Interest Rates Headed in 2018?
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.
Millionaire to Millennials: Don’t Rent a Home… Buy!
In a CNBC article, self-made millionaire David Bach explained that: “The biggest mistake millennials are making is not buying their first home.” He goes on to say that, “If you want to build real financial security, real wealth for your lifetime, then you need to buy a home.”
Whether You Rent or Buy, Either Way You're Paying a Mortgage!
There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.
5 Reasons Homeowners Can Throw Better Super Bowl Parties! [INFOGRAPHIC]
![5 Reasons Homeowners Can Throw Better Super Bowl Parties! [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2018/01/Super-Bowl-STM.jpg)
Highlights:
- Watching the big game at home with your friends & family offers many advantages.
- There’s more room to entertain a large crowd and you don’t have to worry about complaints to your landlord if you cheer too loudly!
- The kitchen is big enough to make as many appetizers as you want, and if some of your guests are only there to watch the commercials, they can do so on a different TV in another room!
Some Highlights
Bidding Wars Abound… How Long Will They Continue?
Just like with any product or service, the law of supply and demand impacts home prices. Any time that there is less supply than the market demands, prices increase.
Study Shows "Millennials Deserve More Credit"
When it comes to talking about millennials, there are many stereotypes out there that have influenced the way the public feels about the generation. Whether it’s the assumption that millennials are irresponsible with money and would rather buy avocado toast than save for a down payment, or that millennials jump from job to job, the majority of these stereotypes paint the generation in a negative light.
2 Major Myths Holding Back Home Buyers
Urban Institute recently released a report entitled, “Barriers to Accessing Homeownership,” which revealed that “eighty percent of consumers either are unaware of how much lenders require for a down payment or believe all lenders require a down payment above 5 percent.”
