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VA Loans by the Numbers [INFOGRAPHIC]

Some Highlights: Since the creation of the VA Home Loans Program, 22 million veterans have been able to achieve the American Dream of homeownership. In 2017, $188 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. Powered by WPeMatico … [Read more...]

House Prices: Simply a Matter of Supply & Demand

Why are home prices still rising? It is a simple answer. There are more purchasers in the market right now than there are available homes for them to buy. This is an example of the theory of “supply and demand” which is defined as: “the amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price.” When demand exceeds supply, prices go up. This is currently happening in the residential real estate market. Here are the numbers for supply and demand as compared to last year for the last three months (March numbers are not yet available): In each of the last three months, … [Read more...]

Boomerang Buyers: Most Qualify for Financing in 2-3 Years

According to a new study from Lending Tree, Americans who have filed for bankruptcy may be able to rebuild enough credit to qualify for a home loan in as little as 2-3 years. This is in stark contrast to the belief that many have that they need to wait 7-10 years for their bankruptcies to clear from their credit reports before attempting to apply for either a mortgage or a personal or auto loan. The study analyzed over one million loan applications for mortgages, personal, and auto loans and compared borrowers who had a bankruptcy on their credit report vs. those who did not to find out the “Cost of Bankruptcy.” The study found that 43.2% of … [Read more...]

What Should You Look for In Your Real Estate Team?

How do you select the members of your team who are going to help make your dream of owning a home a reality? What should you be looking for? How do you know if you’ve found the right agent or lender? The most important characteristic that you should be looking for in your agent is someone who is going to take the time to really educate you on the choices available to you and your ability to buy in today’s market. As the financial guru Dave Ramsey advises: “When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.” Do your … [Read more...]

NOT Owning Your Home Can Cost You a Lot of Money!

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 as long as America has existed. Realtor.com recently reported that: “Buying remains the more attractive option in the long term – that remains the American dream, and it’s true in many markets where renting has become really the shortsighted option… as people get more savings in their pockets, buying becomes the better option.” What proof exists that owning is financially better than renting? 1. In a previous blog we highlighted the top 5 financial … [Read more...]

The Cost of Renting vs. Buying Today [INFOGRAPHIC]

Some Highlights: Historically, the choice between renting or buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (28.9%) vs. the percentage needed to buy a median-priced home (15.7%), the choice becomes obvious. Every market is different. Before you renew your lease again, find out if you can put your housing costs to work by buying this year! Powered by WPeMatico … [Read more...]

99% of Experts Agree: Home Prices Will Increase

Some believe that the combined effects of the new tax code and rising mortgage rates will have an adverse impact on residential real estate prices in 2018. However, the clear majority of recently surveyed housing experts believe that home values will continue to rise this year. What is the Home Price Expectation Survey? Each quarter, Pulsenomics surveys a nationwide panel of economists, real estate experts and investment & market strategists. Those surveyed include experts such as: Daniel Bachman, Senior Manager, U.S. Economics at Deloitte Services, LP Kathy Bostjancic, Head of U.S. Macro Investors Service at Oxford Economics David Downs, … [Read more...]

Be Thankful You Don’t Have to Pay Your Parents’ Interest Rate!

Interest rates hovered around 4% for the majority of 2017, which gave many buyers relief from rising home prices and helped with affordability. In the first quarter of 2018, rates have increased from 3.95% up to 4.45% and experts predict that rates will increase even more by the end of the year. The rate you secure greatly impacts your monthly mortgage payment and the amount you will ultimately pay for your home. Don’t let the prediction that rates will increase stop you from purchasing your dream home this year. Let’s take a look at a historical view of interest rates over the last 45 years. Bottom Line Be thankful that you can still get a … [Read more...]

Buyer Demand Still Outpacing the Supply of Homes for Sale

The price of any item is determined by the supply of that item, as well as 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. Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand). Buyer Demand The map below was created after asking the question: “How would you rate buyer traffic in your area?” The darker the blue, the stronger the demand for homes in that area. Only four states had a ‘stable’ demand … [Read more...]

5 Reasons Why to Sell This Spring!

Here are five reasons listing your home for sale this spring makes sense. 1. Demand Is Strong The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase…and are in the market right now! More often than not, multiple buyers are competing with each other to buy a home. Take advantage of the buyer activity currently in the market. 2. There Is Less Competition Now Housing inventory has declined year over year for the last 32 months and is still under the 6-month supply needed for a … [Read more...]