July 2018

First-Time Home Buyers Continue to Put Down Less Than 6%!

Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Rent vs. Buy /

\"First-TimeAccording to the Realtors Confidence Index from the National Association of Realtors, 61% of first-time homebuyers purchased their homes with down payments below 6% in 2017. Many potential homebuyers believe that a 20% down payment is necessary to buy a home and have disqualified themselves without even trying, but in March, 71% of first-time buyers […]

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House-Buying Power at Near-Historic Levels

Buying Myths, First Time Home Buyers, For Buyers, Move-Up Buyers, Pricing /

\"House-BuyingWe keep hearing that home affordability is approaching crisis levels. While this may be true in a few metros across the country, housing affordability is not a challenge in the clear majority of the country. In their most recent Real House Price Index, First American reported that consumer “house-buying power” is at “near-historic levels.” Their […]

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Rising Interest Rates Have Not Dampened Demand

First Time Home Buyers, For Buyers, Interest Rates, Millennials, Move-Up Buyers /

\"RisingSince the beginning of the year, mortgage interest rates have risen over a half of a percentage point (from 3.95% to 4.52%), according to Freddie Mac. Even a small rise in interest rates can greatly impact a buyer’s monthly mortgage payment. First American recently released the results of their quarterly Real Estate Sentiment Index (RESI), […]

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How Long Do Most Families Live in a House?

For Sellers, Housing Market Updates, Move-Up Buyers /

\"HowThe National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of their data points, which has changed dramatically, is the median tenure of a family in a home, meaning how long a family stays in a home prior to moving. As the graph below shows, over the last twenty years (1985-2008), the median tenure […]

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The #1 Reason to List Your House for Sale NOW!

For Sellers, Housing Market Updates, Move-Up Buyers /

\"TheIf you are debating whether or not to list your house for sale this year, here is the #1 reason not to wait! Buyer Demand Continues to Outpace the Supply of Homes for Sale The National Association of Realtors’ (NAR) Chief Economist Lawrence Yun recently commented on the current lack of inventory: “Inventory coming onto the market during […]

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Homes More Affordable Today than 1985-2000

First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Pricing /

\"HomesRising home prices have many concerned that the average family will no longer be able to afford the most precious piece of the American Dream – their own home. However, it is not just the price of a home that determines its affordability. The monthly cost of a home is determined by the price and […]

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VA Loans: Making a Home for the Brave Possible

First Time Home Buyers, For Buyers, Move-Up Buyers /

\"VASince the creation of the Veterans Affairs (VA) Home Loans Program, over 22 million veterans have achieved the American Dream of homeownership. Many veterans do not know the details of the program and therefore do not take advantage of the benefits available to them. If you are a veteran or you know someone who is, […]

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