Wage Increases Make Home Buying More Affordable
Everyone knows that housing affordability has been negatively impacted by rising prices and increasing mortgage rates, but there is another piece to the affordability equation – wages.
How to Honor a Veteran Today and Everyday
One hundred years ago, on the eleventh hour of the eleventh day of the eleventh month, we marked the end of the “war to end all wars.” That day, which was to be observed annually on the eleventh day of the eleventh month, became known as Armistice Day and then, later on, became Veterans Day.
VA Home Loans by the Numbers [INFOGRAPHIC]
![VA Home Loans by the Numbers [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2018/11/20181109-STM-ENG.jpg)
Some Highlights
- The Veterans Administration (VA) Home Loan is a benefit that is available to more than 22 million veterans & 2 million active duty service members which helps them achieve their dreams of homeownership.
- In 2017, $189 billion was loaned to veterans and their families through the program.
- VA Purchase Loans are on the rise in 46 out of 50 states and Washington, DC.
75% of Renters Have Been Misinformed
Recently, multiple headlines have been written asserting that homeownership is less affordable today than at any other time in the last decade. Though the headlines are accurate, they lack context and lead too many Americans to believe that they can’t partake in a major part of the American Dream – owning a home.
Why Has Housing Supply Increased as Sales Have Slowed Down?
According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), the inventory of homes for sale this year compared to last year has increased for the last four months, all while sales of existing homes have slowed compared to last year’s numbers.
5 Tips When Buying a Newly Constructed Home
The lack of existing inventory for sale has forced many homebuyers to begin looking at new construction. When you buy a newly constructed home instead of an existing home, there are many extra steps that must take place.
2 Myths Holding Back Home Buyers
Urban Institute recently released a report entitled, “Barriers to Accessing Homeownership: Down Payment, Credit, and Affordability,” which revealed that,
The Difference an Hour Will Make This Fall [INFOGRAPHIC]
![The Difference an Hour Will Make This Fall [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2018/10/20181102-DLST-STM.jpg)
Every Hour in the US Housing Market:
- 596 Homes Sell
- 278 Homes Regain Positive Equity
- Median Home Values Go Up $1.20
Some Highlights
How Will Home Sales Measure Up Next Year?
There are many questions about where home sales are headed next year. We have gathered the most reliable sources to help answer this question. Here are our sources:
Taking Fear Out of the Mortgage Process
A considerable number of potential buyers shy away from jumping into the real estate market due to their uncertainties about the buying process. A specific cause for concern tends to be mortgage qualification.
Are You Spending TOO Much on Rent?
Chances are if you are renting you are spending too much of your income on your monthly housing expense. There is a long-standing ‘rule’ that a household should not pay more than 28% of their income on their rent or mortgage payment. This percentage allows the household to save money for the future while comfortably covering other expenses.
Buying a Home Can Be Scary... Until You Know the Facts [INFOGRAPHIC]
![Buying a Home Can Be Scary... Until You Know the Facts [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2018/10/20181026-STM-ENG.jpg)
Some Highlights
Many potential homebuyers believe that they need a 20% down payment and a 780 FICO® score to qualify to buy a home which stops many of them from even trying! Here are some facts:- 72% of buyers who purchased homes this year have put down less than 20%.
- 76.4% of loan applications were approved last month.
- The average credit score of approved loans was 727 in September.
Where are Home Values Headed over the Next Few Years?
There are many questions about where home prices will be next year as well as where they may be headed over the next several years to come. We have gathered the most reliable sources to help answer these questions:
Still Think You Need 15-20% Down to Buy a Home? Think Again!
According to a new study from Urban Institute, there are over 19 million millennials in 31 cities who are not only ready and willing to become homeowners, but are able to as well!
Housing Is Still Affordable in the United States!
Lately, there have been many headlines circulating about whether or not there is an "affordability issue forming in the housing market."
Will Home Prices Continue to Increase?
There are many unsubstantiated theories about what is happening with home prices. From those who are worried that prices are falling (data shows this is untrue), to those who are concerned that prices are again approaching boom peaks because of “irrational exuberance” (this is also untrue as prices are not at peak levels when they are adjusted for inflation), there seems to be no shortage of opinion.
Is the Increase in Inventory a Bullish or Bearish Sign for Real Estate?
In a recent article, National Housing Inventory Crisis Reaches Inflection Point, realtor.com reported that:
New listings jumped 8% year-over-year nationally, the largest increase since 2013
Total listings in the 45 largest markets are now up 6% on average over last year
5 Tips for Starting Your Home Search
In today’s real estate market, with low inventory dominating the conversation in many areas of the country, it can often be frustrating to be a first-time homebuyer if you aren’t prepared.
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]
![Buying a Home? Do You Know the Lingo? [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2018/10/20181012-STM-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.
CoreLogic’s Chief Economist Frank Nothaft gave some insight into this change,
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.
