New York Times: Homeownership is Best Way To Build Wealth

by Chris Druesedow August 31, 2015

New York Times: Homeownership is Best Way To Build Wealth | Keeping Current Matters The housing market has made a strong recovery, not only in sales and prices, but also in the confidence of consumers and experts as an investment. In a New York Times editorial entitled, “Homeownership and Wealth Creation” they explain: “Homeownership long has been central to Americans’ ability to amass wealth; even with the substantial decline in wealth after the housing bust, the net worth of homeowners over time has significantly outpaced that of renters, who tend as a group to accumulate little if any wealth.” Many of the points that were made in the article are on track with the research … Continue reading

52% Likely to Buy in the Next 5 Years!! Are You?

by Chris Druesedow August 27, 2015

52% Likely to Buy in the Next 5 Years!! Are You? | Keeping Current Matters According to the recently released BMO Harris Bank Home Buying Report, 52% of Americans say they are likely to buy a home in the next five years. Americans surveyed for the report said they would be willing to pay an average of $296,000 for a home and would average a 21% down payment. The report also had other interesting revelations. Those Looking to Buy •74% of those looking to buy a new home will consult a real estate agent •59% said they will visit online real estate websites •37% will seek recommendations from friends and family •78% plan to get … Continue reading

Home Values: Where Are They Headed Over The Next 5 Years?

by Chris Druesedow August 21, 2015

Home Values: Where Are They Headed in the Next 5 Years? | Keeping Current Matters Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey. Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists about where prices are headed over the next five years. They then average the projections of all 100+ experts into a single number. The results of their latest survey Home values will appreciate by 4.1% in 2015. The cumulative appreciation will be 18.1% by 2019. That means the average annual appreciation will be 3.4% over … Continue reading

64.2% of Millennials Put Down Less than 20%

by Chris Druesedow August 20, 2015

64.2% of Millennials Put Down Less than 20% | Keeping Current Matters Digital Risk recently polled Millennials about the housing market. Among their findings was the fact that nearly two-thirds of the generation who have recently purchased a home, have done so with less than 20% down; with 36% putting down less than 5%! Here is a graph detailing the results: Millennial Down Payments | Keeping Current Matters This means that more and more American’s between the ages of 18 and 34 stopped paying their landlord’s mortgage and started building their own family’s wealth. Millennials aren’t the only ones taking advantage of lower down payments. The Federal Reserve Bank of New York found that if … Continue reading

Real Estate Again Seen as Best Investment

by Chris Druesedow August 19, 2015

Real Estate Seen As Best Investment Again | Keeping Current Matters We are almost back to ‘pre-housing crash’ home values. The inventories of distressed properties (foreclosures & short sales) are shrinking dramatically. The economy is improving. The job numbers are headed in the right direction. The big question that still remains: Have Americans regained their confidence in real estate as a worthy investment? According to a survey conducted by Princeton Survey Research Associates, Americans have put real estate back into first place as the best of all investments. Here are the results of the survey: Best Investment | Keeping Current Matters Bottom Line Homeownership never lost its place as a key component of the American … Continue reading

The REAL Reasons Americans Buy a Home

by Chris Druesedow August 17, 2015

The Real Reasons Americans Buy A Home | Keeping Current Matters We often talk about the financial reasons why buying a home makes sense. But often, the emotional reasons are the more powerful, or compelling reasons. The Joint Center for Housing Studies at Harvard University performs a study every year surveying participants for the reasons that American’s feel are most important in regards to homeownership. The top 4 reasons to own a home cited by respondents were not financial. 1. It means having a good place to raise children & provide them with a good education From the best neighborhoods to the best school districts, even those without children at the time of purchasing their … Continue reading

When is it a Good Time to Rent? Definitely NOT Now!

by Chris Druesedow August 14, 2015

When is it a Good Time to Rent? Definitely NOT Now! | Keeping Current Matters People often ask whether or not now is a good time to buy a home. No one ever asks when a good time to rent is. However, we want to make certain that everyone understands that today is NOT a good time to rent. The Census Bureau just released their second quarter median rent numbers. Here is a graph showing rent increases from 1988 until today: Median Asking Rent Since 1988 | Keeping Current Matters At the same time, a report by Axiometrics revealed: “The national apartment market’s annual effective rent growth rate of 5.1% in June 2015 represented a … Continue reading

Where Are Mortgage Rates Headed? This Fall? Next Year?

by Chris Druesedow August 10, 2015

Where Are Mortgage Rates Headed? This Fall? Next Year? | Keeping Current Matters The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to look at where rates are headed when deciding to buy now or wait until next year. Below is a chart created using Freddie Mac’s July 2015 U.S. Economic & Housing Marketing Outlook. As you can see interest rates are projected to increase steadily over the course of the next 12 months. 30 Year Fixed Rate Prediction | Keeping Current Matters How Will This Impact Your Mortgage Payment? Depending … Continue reading

Where Are Mortgage Rates Headed? This Fall? Next Year?

by Chris Druesedow August 10, 2015

Where Are Mortgage Rates Headed? This Fall? Next Year? | Keeping Current Matters The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to look at where rates are headed when deciding to buy now or wait until next year. Below is a chart created using Freddie Mac’s July 2015 U.S. Economic & Housing Marketing Outlook. As you can see interest rates are projected to increase steadily over the course of the next 12 months. 30 Year Fixed Rate Prediction | Keeping Current Matters How Will This Impact Your Mortgage Payment? Depending … Continue reading

An Easy Way to Find the Perfect Real Estate Agent

by Chris Druesedow August 6, 2015

An Easy Way to Find the Perfect Real Estate Agent | Keeping Current Matters There is a plethora of real estate information available today in the news and on the internet. It can be extremely confusing at times. If you are thinking of buying or selling, you need an agent who can help make sense of this rapidly evolving housing market. You need an agent who can help you price your home correctly at the beginning of the selling process. You need an agent who can help you determine what to offer on your dream home without paying too much or offending the seller with a low-ball offer. Dave Ramsey, the financial guru advises: “When … Continue reading

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