April, 2018 | The Paradigm Realty Group

Why Home Prices Are Increasing

Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Pricing / By Ajeenah Crittendon

$\"Why$ There are many unsubstantiated theories as to why home values are continuing to increase. From those who are worried that lending standards are again becoming too lenient (data shows this is untrue), to those who are concerned that prices are again approaching boom peaks because of “irrational exuberance” (this is also untrue as prices are not at peak […]

Existing Home Sales Grow Despite Low Inventory [INFOGRAPHIC]

First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Infographics, Move-Up Buyers / By Ajeenah Crittendon

Some Highlights:

According to the latest Existing Home Sales Report from the National Association of Realtors, sales grew 1.1% in March to an annual pace of 5.60 million.
This is the strongest pace since November of 2017.
Inventory levels dropped ye…

“Short of a war or stock market crash…”

First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers, Pricing / By Ajeenah Crittendon

$\"“Short$ This month, Arch Mortgage Insurance released their spring Housing and Mortgage Market Review. The report explained that an increase in mortgage rates and/or home prices would impact monthly payments this way: A 5% increase in home prices increases payments by roughly 5% A 1% rise in interest rates increases payments by roughly 13% or 14% […]

New Study Shows ‘Best States for Millennials’

First Time Home Buyers, For Buyers, Millennials / By Ajeenah Crittendon

$\"New$ A new study by WalletHub used “30 key metrics, ranging from share of millennials to millennial unemployment rate to millennial voter-turnout rate” to find out which states are the ‘Best States for Millennials.’ The Top 5 Best States for Millennials are: Washington, D.C. (also ranks highest in percentage of millennials already living there!) North Dakota […]

Thinking of Selling Your Home? Why You Need A Pro in Your Corner

For Sellers, FSBOs, Move-Up Buyers / By Ajeenah Crittendon

$\"Thinking$ With home prices on the rise and buyer demand strong, some sellers may be tempted to try and sell their homes on their own (FSBO) without using the services of a real estate professional. Real estate agents are trained and experienced in negotiation and, in most cases, the seller is not. Sellers must realize that […]

Buying a Home Is Cheaper Than Renting in the Majority of the US

Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Rent vs. Buy / By Ajeenah Crittendon

$\"Buying$ The results of the 2018 Rental Affordability Report from ATTOM show that buying a median-priced home is more affordable than renting a three-bedroom property in 54% of U.S. counties analyzed for the report. The updated numbers show that renting a three-bedroom property in the United States requires an average of 38.8% of income. The least affordable market for […]

Home Buying Myths Slayed [INFOGRAPHIC]

Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Infographics, Interest Rates, Move-Up Buyers / By Ajeenah Crittendon

Some Highlights:

The average down payment for first-time homebuyers is only 6%!
Despite mortgage interest rates being over 4%, rates are still below historic numbers.
88% of property managers raised their rents in the last 12 months!
The credit scor…

Is Family Mortgage Debt Out of Control?

First Time Home Buyers, For Buyers, For Sellers, Interest Rates, Move-Up Buyers / By Ajeenah Crittendon

$\"Is$ Some homeowners have recently done a “cash out” refinance and have taken a portion of their increased equity from their house. Others have sold their homes and purchased more expensive homes with larger mortgages. At the same time, first-time buyers have become homeowners and now have mortgage payments for the first time. These developments have […]

How Much Do You Need to Make to Buy a Home in Your State?

First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers / By Ajeenah Crittendon

$\"How$ It’s no mystery that cost of living varies drastically depending on where you live, so a new study by GOBankingRates set out to find out what minimum salary you would need to make in order to buy a median-priced home in each of the 50 states, and Washington, D.C. States in the Midwest came out […]

Rising Prices Help You Build Your Family’s Wealth

First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers / By Ajeenah Crittendon

$\"Rising$ Over the next five years, home prices are expected to appreciate, on average, by 3.6% per year and to grow by 18.2% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey. So, what does this mean for homeowners and their equity position? As an example, let’s assume a young couple purchased and closed on a $250,000 home this […]

April 2018