A recent Survey of Consumer Finances study released by the Federal Reserve reveals the net worth of homeowners is forty times greater than that of renters. If you’re wondering if homeownership is a good investment, the study clearly answers that question, and the answer is yes. Do Americans believe a home is a better investment … [Read more...] about 93% of Americans Believe a Home Is a Better Investment Than Stocks
First Time Home Buyers
A Fannie Mae survey recently revealed some of the most highly-rated benefits of homeownership, which continue to be key drivers in today’s power-packed housing market. Here are the top four financial benefits of owning a home according to consumer respondents: 88% – a better chance of saving for retirement 87% – the best … [Read more...] about Homeownership Is Full of Financial Benefits
Here's this week's Phoenix real estate snapshot - foreclosure tsunami more wishful thinking than reality: Inventory is stabilizing at about 22 days of inventory - less than 4,000 homes on the market - in Metro Phoenix. Typical inventory is 134 days. Prices continuing to rise quickly with no relief in sight for … [Read more...] about No Foreclosure Tsunami Phoenix Real Estate This Week
If you’re planning to buy a home this year, saving for a down payment is one of the most important steps in the process. One of the best ways to jumpstart your savings is by starting with the help of your tax refund. Using data from the Internal Revenue Service (IRS), it’s estimated that Americans can expect an average refund … [Read more...] about Your Tax Refund and Stimulus Savings May Help You Achieve Homeownership This Year
Since the birth of our nation, homeownership has always been considered a major piece of the American Dream. As Frederick Peters reports in Forbes: “The idea of a place of one’s own drives the American story. We became a nation out of a desire to slip the bonds of Europe, which was still in many respects a collection of feudal … [Read more...] about Is Homeownership Still Considered Part of the American Dream?
Mortgage rates are on the rise this year, but they’re still incredibly low compared to the historic average. However, anytime there’s a change in the mortgage rate, it affects what you can afford to borrow when you’re buying a home. As Sam Khater, Chief Economist at Freddie Mac, shares: “Since January, mortgage rates have … [Read more...] about How a Change in Mortgage Rate Impacts Your Homebuying Budget
For generations, the homebuying process never really changed. The seller would try to estimate the market value of the home and tack on a little extra to give themselves some negotiating room. That figure would become the listing price of the house. Buyers would then try to determine how much less than the full price they could … [Read more...] about Why You Should Think About Listing Prices Like an Auction’s Reserve Price
According to data from the most recent Origination Insight Report by Ellie Mae, the average FICO® score on closed loans reached 753 in February. As lending standards have tightened recently, many are concerned over whether or not their credit score is strong enough to qualify for a mortgage. While stricter lending standards … [Read more...] about What Credit Score Do You Need for a Mortgage?