First Time Home Buyers | The Paradigm Realty Group

Existing Home Sales Grow Despite Low Inventory [INFOGRAPHIC]

First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Infographics, Move-Up Buyers / 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…

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“Short of a war or stock market crash…”

First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers, Pricing / 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% […]

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New Study Shows ‘Best States for Millennials’

First Time Home Buyers, For Buyers, Millennials / 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 […]

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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 / 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 […]

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Home Buying Myths Slayed [INFOGRAPHIC]

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

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Is Family Mortgage Debt Out of Control?

First Time Home Buyers, For Buyers, For Sellers, Interest Rates, Move-Up Buyers / 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 […]

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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 / 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 […]

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Rising Prices Help You Build Your Family’s Wealth

First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers / 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 […]

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Getting Pre-Approved Should Always Be Your First Step

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

$\"Getting$ In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a […]

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A Tale of Two Markets [INFOGRAPHIC]

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

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Some Highlights:

A trend that has been emerging for some time now is the contrast between inventory & demand in the Premium & Luxury Markets vs. the Starter & Trade-Up Home Markets and what that’s, in turn, doing to prices!
Inventory continues to rise in the luxury & premium home markets which is causing prices to cool.
Demand continues to rise with low inventory in the starter & trade-up home markets, causing prices to rise!

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