Buying Myths

What FICO® Score Do You Need to Qualify for a Mortgage?

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

\"WhatIt’s common knowledge that your FICO® score plays an important role in the homebuying process. However, many buyers have misconceptions regarding what exactly is required to get the loans they need. While a recent announcement from CNBC shares that the average national FICO® score has reached an all-time high of 706, the good news for […]

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62% of Buyers Are Wrong About Down Payment Needs

Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers /

\"62%Contrary to common misconception, a down payment is often much less than many believe. According to the ‘2019 Home Buyer Report’ conducted by Nerdwallet, many first-time buyers still believe they need a 20% down payment to buy a home in today’s market: “More than 6 in 10 (62%) Americans believe you must put at least 20% down in […]

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What Is the Cost of Waiting Until Next Year to Buy? [INFOGRAPHIC]

Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Infographics, Move-Up Buyers, Rent vs. Buy /

\"What

Some Highlights:

  • The “cost of waiting to buy” is defined as the additional funds necessary to buy a home if prices and interest rates were to increase over a period of time.
  • Freddie Mac forecasts interest rates will rise to 3.8% by Q4 2020.
  • CoreLogic predicts home prices will appreciate by 5.4% over the next 12 months.
  • If you’re ready and willing to buy your dream home, now is a great time to buy.

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Homeowners Are Happy! Renters? Not So Much.

Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Rent vs. Buy /

\"HomeownersWhen people talk about homeownership and the American Dream, much of the conversation revolves around the financial benefits of owning a home. However, two recent studies show that the non-financial benefits might be even more valuable. In a recent survey, Bank of America asked homeowners: “Does owning a home make you happier than renting?” 93% […]

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Are You Ready for the ‘Black Friday’ of Real Estate?

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

\"AreAccording to a new study from realtor.com/, the week of September 22 is the best time of year to buy a home, making it ‘Black Friday’ for homebuyers. Every year, ‘Black Friday’ is a highly anticipated event for eager shoppers. Some people prepare for weeks, crafting and refining a strategic shopping agenda, determining exactly when […]

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What Is the Probability That Home Values Sink?

Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers /

\"WhatWith the current uncertainty about the economy triggered by a potential trade war, some people are waiting to purchase their first home or move-up to their dream house because they think or hope home prices will drop over the next few years. However, the experts disagree with this perspective. Here is a table showing the […]

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Everybody Calm Down! This Is NOT 2008

Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Selling Myths /

\"EverybodyLast week realtor.com/ released the results of a survey that produced three major revelations: 53% of home purchasers (first-time and repeat buyers) currently in the market believe a recession will occur this year or next. 57% believe the next recession will be as bad or worse than 2008. 55% said they would cancel plans to […]

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A Recession Does Not Equal a Housing Crisis [INFOGRAPHIC]

Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Infographics, Move-Up Buyers, Selling Myths /

Some Highlights:

There is plenty of talk in the media about a pending economic slowdown.
The good news is, home values actually increased in 3 of the last 5 U.S. recessions, and decreased by less than 2% in the 4th.
Many experts predict a potential…

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A Latte a Day Keeps Homeownership Away [INFOGRAPHIC]

Buying Myths, Down Payments, First Time Home Buyers, For Buyers, For Sellers, Infographics, Move-Up Buyers /

Some Highlights:

The pumpkin spice latte is launching soon, so you may be tempted to spend your extra cash on a daily caffeine fix, but that small expense can add up to a big number – fast!
Saving for a down payment takes a little discipline, so lim…

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