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Slaying Myths About Buying A Home [INFOGRAPHIC]

Slaying Myths About Buying A Home [INFOGRAPHIC] | Simplifying The Market

Some Highlights:

  • Interest Rates are still below historic numbers.
  • 88% of property managers raised their rent in the last 12 months!
  • Credit score requirements to be approved for a mortgage continue to fall. The 723 average score is the lowest since Ellie Mae began reporting on scores in August 2011.
  • The average first-time home buyer down payment was 6% in 2015 according to NAR.
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The Importance of Home Equity to a Family

There has been much written about how dramatically home values have increased over the last several years. With the increase in values, comes an increase in the equity each home owning family now has. The Joint Center of Housing Studies at Harvard University recently reported that, after taking inflation into account, aggregate home equity has increased 60% since 2010. And home equity is the major component of most family’s overall wealth.

Hispanics & Housing: Demand Over The Next Decade

The Mortgage Bankers’ Association (MBA) recently released a report: ‘Housing Demand: Demographics And The Numbers Behind The Coming Multi-Million Increase In Households’. In this study, the MBA “utilized a comprehensive analysis of data from 1976 to 2014, a period encompassing several market and housing cycles, to provide a projection of much stronger housing demand over the next decade.”
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Where Will Home Prices Be Next Year? [INFOGRAPHIC]

Where Will Home Prices Be Next Year? [INFOGRAPHIC] | Simplifying The Market

Some interesting facts:

  • 25 states are forecasted to achieve higher levels of appreciation in the next 12 months than already achieved in the last year.
  • 25 state and the District of Columbia are forecasted to experience a slow in appreciation.
  • All 50 states & D.C. are forecasted to achieve some level of positive price appreciation.

Even though each state is appreciating at different levels, you need to know the Cost of Waiting until next year to buy your dream home!