For Buyers Archives

Do You Really Think Your Landlord Pays for Repairs?

A recent article that appeared on Nasdaq.com addressed the issue of whether it is best to buy or rent in today’s real estate environment. The article was very fair in discussing both options. However, there was one portion of the article that we questioned. One of the experts was quoted as saying: “For some people, the choice is very clear: Buying a home can be more costly, given the cost of the purchase itself, plus taxes and insurance, plus maintenance and repairs.”

October 15, 2015/by KCM CREW

Are Millennials Finally Entering the Market?

It appears that Millennials are finally beginning to enter the housing market. In a recent report, CoreLogic looked at the annual net change in household formations over the last decade (see graph below):

October 14, 2015/by KCM CREW

For Buyers, For Sellers, New Construction

New Home Sales Surge

According to the latest report from the US Census Bureau and the Department of Housing and Urban Development, newly constructed home sales jumped 5.7% month-over-month and 21.6% year-over-year to an annual pace of 552,000. Many buyers are looking to the new homes market to make up for the lack of existing home sales inventory. National Association of Home Builders Chief Economist David Crowe explains:

October 13, 2015/by KCM CREW

For Buyers, First-Time Buyers, Move-Up

4 Reasons to Buy BEFORE Winter Hits

It's that time of year; the seasons are changing and with them bring thoughts of the upcoming holidays, family get-togethers, and planning for a new year. Those who are on the fence about whether now is the right time to buy don't have to look much farther to find four great reasons to consider buying a home now, instead of waiting.

October 12, 2015/by KCM CREW

For Buyers, Infographics

New Home Sales Surge By 5.7%! [INFOGRAPHIC]

Some Highlights:

The median price of a newly constructed home is currently $292,700.
Sales are up 5.7% month-over-month and 21.6% year-over-year.
Many buyers are looking to new homes as an option due to the lack of inventory of existing homes for sale.

October 9, 2015/by KCM CREW

For Buyers, For Sellers

Pending Home Sales Remain Steady

The National Association of REALTORS’ just released the results of their latest Pending Home Sales Index, which showed a small 1.4% decline in signed contracts in August. Pending sales remain strong year-over-year as they were 6.1% higher than August ’14 and have now risen for 12 consecutive months.

What is the Pending Home Sales Index (PHSI)?

October 8, 2015/by KCM CREW

For Buyers, For Sellers, Infographics

How Quickly Are Homes Selling In Your State? [INFOGRAPHIC]

Some Highlights:

The National Association of REALTORS® surveyed their members for their Confidence Index
The REALTORS® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices and market conditions.
Homes sold in less than 60 days in 39 out of 50 states and Washington D.C.
Only Vermont had a median sold date longer than 90 days.

October 2, 2015/by KCM CREW

For Buyers, First-Time Buyers

Renters: It is about to Get A Lot Worse

We often promote homeownership over renting when a family is ready, willing and able to purchase. There are both financial and non-financial benefits to owning a home of your own. Based on the headlines below, many news outlets agreed with us after they reviewed a recent report from the Harvard Joint Center for Housing Studies and Enterprise Community Partners.

September 30, 2015/by KCM CREW

For Buyers, Home Prices, Mortgage Rates

Don’t Wait To Buy Your Dream Home

As a seller, you will be most concerned about ‘short term price’ – where home values are headed over the next six months. As either a first-time or repeat buyer, you must not be concerned only about price but also about the ‘long term cost’ of the home.

Let us explain.

September 29, 2015/by KCM CREW

For Buyers, For Sellers, Infographics

Existing Home Sales Slow Amongst Tight Inventory [INFOGRAPHIC]

Some Highlights:

Existing Home Sales slowed down slightly in August but remained 6.2% higher than August 2014.
Inventory levels remain below the 6 months necessary for a normal market at a 5.2-month supply.
First Time Buyers rebounded in August to make up 32% of sales, matching a 2015 high.

September 25, 2015/by KCM CREW

For Buyers, First-Time Buyers, Mortgage Rates, Move-Up

Is Qualifying for a Mortgage Getting Easier?

There has been a lot of talk about how difficult it is to get a home mortgage in today’s lending environment. However, three recent reports have revealed that lending standards are beginning to ease. This is great news for both first time buyers and current homeowners looking to move or buy a second vacation/retirement home.

September 23, 2015/by KCM CREW

For Buyers, First-Time Buyers

Buying A Home Is Better Way to Produce Wealth Than Renting

According to the latest Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index homeownership is a better way to produce greater wealth, on average, than renting. The BH&J Index is a quarterly report that attempts to answer the question: Is it better to rent or buy a home in today’s housing market?

September 22, 2015/by KCM CREW

For Buyers, Infographics, Mortgage Rates

Credit Score Requirements LOWER As Interest Rates CREEP UP! [INFOGRAPHIC]

Some Highlights:

The average 30-year rate for all loans closed in August eclipsed 4.3% for the first time since October 2014.
The average FICO score for all closed loans in August reached a new yearly low at 724 (the lowest since February 2014!)
The average down payment of FHA loans closed was just 4%!

September 18, 2015/by KCM CREW

For Buyers

Fannie Mae Introduces Home Purchase Sentiment Index

Earlier this month, Fannie Mae’s Economic & Strategic Research Group announced the launch of their Home Purchase Sentiment Index (HPSI). The index will distill results from Fannie Mae’s consumer-focused National Housing Survey into a single, monthly, predictive indicator. According to Doug Duncan, Senior Vice President and Chief Economist at Fannie Mae, the goal for the new index is simple:

September 17, 2015/by KCM CREW

For Buyers, Home Prices, Mortgage Rates

The Cost of Waiting to Buy a Home

The National Association of Realtors (NAR) recently released their July edition of the Housing Affordability Index. The index measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national level based on the most recent price and income data.

September 16, 2015/by KCM CREW

For Buyers, First-Time Buyers

Why You Should Stop Renting & Buy Today!

There are many young people debating whether they should renew the lease on their apartment or sign a contract to purchase their first home.

Housing Cost & Net Worth

Whether you rent or buy, you have a monthly housing cost.

September 15, 2015/by KCM CREW

For Buyers, For Sellers, Infographics

Economic Impact of Every Home Sold [INFOGRAPHIC]

Some Highlights:

Every time a home is sold, the surrounding economy feels a boost.
Different industries and businesses benefit at each stage of the process of moving into a home!
Hawaii leads the way with a $177,000 boost to the local economy.

September 11, 2015/by KCM CREW

For Buyers, Home Prices, First-Time Buyers, Mortgage Rates

Thinking of Buying a Home? Ask Yourself These 3 Questions!

If you are debating purchasing a home right now, you are surely getting a lot of advice. Though your friends and family will have your best interest at heart, they may not be fully aware of your needs and what is currently happening in real estate. Let’s look at whether or not now is actually a good time for you to buy a home.

September 10, 2015/by KCM CREW

For Buyers, For Sellers, Home Prices

Most Experts Agree: There is No Housing Bubble

There is no doubt that home prices in the vast majority of housing markets across the country are continuing to increase on a month over month basis. The following map (based on data from the latest CoreLogic pricing report) reveals the appreciation level by state:

September 9, 2015/by KCM CREW

For Buyers

5 Financial Reasons To Buy A Home

We have reported many times that the American Dream of homeownership is alive and well. The personal reasons to own differ for each buyer, with many basic similarities. Eric Belsky, the Managing Director of the Joint Center of Housing Studies at Harvard University expanded on the top 5 financial benefits of homeownership in his paper -The Dream Lives On: the Future of Homeownership in America.

September 8, 2015/by KCM CREW

For Buyers, For Sellers

Rebuilding America One Home At A Time

...

September 7, 2015/by KCM CREW

For Buyers, For Sellers, Infographics, For Sale by Owner

A+ Reasons to Hire A Real Estate Professional [INFOGRAPHIC]

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 & effectively explain them to you & your family!

September 4, 2015/by KCM CREW

For Buyers, For Sellers, Home Prices

Home Prices Rising! Appraisers say WHOA!

Each month, Quicken Loans releases their national Home Price Perception Index (HPPI). This month’s report revealed that the difference in appraiser home value opinions as compared to homeowner estimates is continuing to increase. Chief Economist Bob Walters explains: "Many homeowners around the country are seeing the national headlines about home value increases and they are optimistic about their equity increasing. While some areas are seeing the same level of home appreciation, or even more, there are also some areas that have slower home value increases. This can lead to homeowners and appraisers not quite seeing eye-to-eye.”

September 2, 2015/by KCM CREW

For Buyers, First-Time Buyers

New York Times: Homeownership is Best Way To Build Wealth

The housing market has made a strong recovery, not only in sales and prices, but also in the confidence of consumers and experts as an investment. In a New York Times editorial entitled, “Homeownership and Wealth Creation” they explain: “Homeownership long has been central to Americans’ ability to amass wealth; even with the substantial decline in wealth after the housing bust, the net worth of homeowners over time has significantly outpaced that of renters, who tend as a group to accumulate little if any wealth.”

August 31, 2015/by KCM CREW

For Buyers, For Sellers, Infographics, Home Prices

NAR'S Latest Existing Home Sales Report [INFOGRAPHIC]

Some Highlights:

Existing Home Sales are up 10.3% year-over-year across the country.
Sales rose to an annual rate of 5.59 million marking the 10th month in a row of year-over-year gains
Prices are up 5.6% year-over-year in the U.S. to a median price of $234,000
Marked the 41st consecutive month of year-over year price gains.

August 28, 2015/by KCM CREW

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