5 Reasons to Sell This Fall
Here are five reasons listing your home for sale this fall makes sense.
Top 5 Reasons Why Millennials Choose to Buy [INFOGRAPHIC]
![Top 5 Reasons Why Millennials Choose to Buy [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2017/09/Millennials-Choose-to-Buy-STM.jpg)
Some Highlights
- “The majority of millennials said they consider owning a home more sensible than renting for both financial and lifestyle reasons — including control of living space, flexibility in future decisions, privacy and security, and living in a nice home.”
- The top reason millennials choose to buy is to have control over their living space, at 93%.
- Many millennials who rent a home or apartment prior to buying their own homes dream of the day that they will be able to paint the walls whatever color they'd like, or renovate an outdated part of their living space.
Report: Homeownership Is a Precondition of the American Dream
Hearth just released their 2017 State of the American Dream report which showed that Americans still see homeownership as an integral piece of the American Dream. The report confirmed that “all generations–including millennials–agree homeownership is very important to achieving the American Dream.”
Happily Ever Homeowner
Married couples once again dominated the first-time homebuyer statistics last year at 66% of all buyers, according to the most recent Profile of Home Buyers & Sellers. 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.
Looking for Your Dream Home? Know What You Want vs. What You Need
In this day and age of being able to shop for anything anywhere, it is really important to know what you’re looking for when you start your home search.
4 Reasons to Buy a Home This Fall!
Here are four great reasons to consider buying a home today, instead of waiting.
How Supply and Demand Impacts Real Estate Home Values [INFOGRAPHIC]
![How Supply and Demand Impacts Real Estate Home Values [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2017/09/EHS-Report-STM.jpg)
Some Highlights
- The concept of supply & demand is a simple one. The best time to sell something is when the supply of that item is low & the demand for that item is high!
- Anything under a 6-month supply is a seller’s market!
- Nationally, there has not been a 6-months inventory supply since August 2012!
- Inventory levels differ depending on the area of the country and price range, so let’s get together to discuss the exact market conditions in our area.
America Needs Your House!!
The biggest challenge in today’s real estate market is a lack of housing inventory. How big of a challenge is the housing shortage? Here are what four industry economists are saying on the issue (emphases added):
Homeowners: Do You Know Your Home’s Value?
The latest edition of CoreLogic’s Home Price Index shows that nationally, home prices have appreciated 6.7% over the last year and 0.9% month-over-month. The release of the report included this headline,
How Your Home’s Value Grows Your Family’s Wealth
Over the next five years, home prices are expected to appreciate 3.64% per year on average and to grow by 18.4% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.
Top 5 A+ Reasons to Hire a Real Estate Pro [INFOGRAPHIC]
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Some Highlights:
- Hiring a real estate professional to buy your dream home, or sell your current house, is one of the most 'educated' decisions you can make!
- A real estate professional has the experience needed to help you through the entire process.
- Make sure that you hire someone who knows current market conditions & can simply and effectively explain them to you and your family!
Some Highlights
Empty Nesters: Best to Remodel or Time to Sell?
Your children have finally moved out and you and your spouse now live alone in a four-bedroom colonial (or a similar type of house). You have two choices to make:
Number of Buyers Putting Down Less Than 10% Hits 7-Year High
According to Black Knight Financial Service’s Mortgage Monitor Report, 1.5 million Americans have purchased a home with down payments under than 10% over the last 12 months. This is great news for buyers as this marks a 7-year high.
Where Are Home Prices Heading in The Next 5 Years?
Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey.
Don’t Disqualify Yourself… 52% of Approved Loans Have A FICO® Score Under 750
The results of countless studies have shown that potential home buyers, and even current homeowners, have an inflated view of what is really required to qualify for a mortgage in today’s market.
Home Prices Up 6.64% Across the Country! [INFOGRAPHIC]
![Home Prices Up 6.64% Across the Country! [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2017/08/FHFA-Home-Prices-STM.jpg)
Some Highlights
- The Federal Housing Finance Agency (FHFA) recently released their latest Quarterly Home Price Index report.
- In the report, home prices are compared both regionally and by state.
- Based on the latest numbers, if you plan on relocating to another state, waiting to move may end up costing you more!
- Alaska & West Virginia were the only states where home prices are lower than they were last year.
Want to Keep up with the Joneses? Now's the Time
Does your current house fit your needs? Does it seem like everyone else is moving up and moving on to more luxurious surroundings? Are you wondering what it would take to start living your dream life?
More Boomerang Buyers Are about to Enter the Market
We previously informed you about a study conducted by TransUnion titled, “The Bubble, the Burst and Now – What Happened to the Consumer?” The study revealed that 1.5 million homeowners who were negatively impacted by the housing crisis could re-enter the housing market between 2016-2019.
58% of Homeowners See a Drop in Home Values Coming
According to the recently released Modern Homebuyer Survey from ValueInsured, 58 percent of homeowners think there will be a “housing bubble and price correction” within the next 2 years.
Homeowner’s Net Worth Is Still Greater Than a Renter’s
Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400).
What State Gives You the Most ‘Bang for Your Buck’? [INFOGRAPHIC]
![What State Gives You the Most ‘Bang for Your Buck’? [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2017/08/20170811-100-Gets-You-STM.jpg)
Some Highlights
- Thinking of moving across the country? How far will your money take you?
- The majority of states in the Midwest and South offer a lower cost of living compared to Northeast and Western states.
- The ‘Biggest Bang for your Buck’ comes in Mississippi where, compared to the national average, you can actually purchase $116.01 worth of goods for $100.
- For more information regarding the methodology used to create the map, visit the Tax Foundation.
How Long Do Most Families Stay in Their Home?
The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of the data points that has changed dramatically is the median tenure of a family in a home, meaning how long a family stays in a home prior to moving. As the graph below shows, for over twenty years (1985-2008), the median tenure averaged exactly six years. However, since 2008, that average is almost nine years – an increase of almost 50%.
Millennial Homeownership Rate Increases
Recent headlines exclaimed the homeownership rate, as reported by the Census Bureau, rose again in the second quarter of 2017. What didn’t get much attention in the reports is that the homeownership rate for American households under the age of 35 increased a full percentage point from last quarter’s 34.3% to 35.3%. Millennials proved to have the highest increase of any age group.
Be Careful Not to Get Caught in The Rental Trap!
There are many benefits to homeownership. One of the top benefits is being able to protect yourself from rising rents by locking in your housing cost for the life of your mortgage.
Buyer Demand Continues Outpacing the Supply of Homes for Sale
The price of any item is determined by the supply of that item, as well as the market demand. 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.
