Hispanics & Housing: Demand Over The Next Decade

by Chris Druesedow October 30, 2015

Hispanics & Housing: Demand Over The Next Decade | Keeping Current Matters The Mortgage Bankers’ Association (MBA) recently released a report: ‘Housing Demand: Demographics And The Numbers Behind The Coming Multi-Million Increase In Households’. In this study, the MBA “utilized a comprehensive analysis of data from 1976 to 2014, a period encompassing several market and housing cycles, to provide a projection of much stronger housing demand over the next decade.” According to the report: “by 2024, demographic and economic changes will bring what could be one of the largest expansions in the history of the U.S housing market with 13.9 million additional households.” But, what did they say about the Impact of the Hispanic community? … Continue reading

Picking a Real Estate Agent through Facebook

by Chris Druesedow October 29, 2015

Picking a Real Estate Agent through Facebook | Keeping Current Matters According to a joint study released by Google and the National Association of Realtors, 2 of 3 people searching for a prospective real estate professional research them “extensively online prior to working with them”. And, that number is probably increasing every day. Are social media channels such as Facebook really a good place to gather information about an agent before using them? If so, what should you look for? There is a plethora of information on any subject available on social media sites such as Facebook. A recent study by the Pew Research Center revealed that 63% of Americans now even get their news … Continue reading

Why You Should Hire A Professional When Buying A Home!

by Chris Druesedow October 27, 2015

Why You Should Hire A Professional When Buying A Home! | Keeping Current Matters Many people wonder whether they should hire a real estate professional to assist them in buying their dream home or if they should first try to go it on their own. In today’s market: you need an experienced professional! You Need an Expert Guide if you are Traveling a Dangerous Path The field of real estate is loaded with land mines. You need a true expert to guide you through the dangerous pitfalls that currently exist. Finding a home that is priced appropriately and ready for you to move in to can be tricky. An agent listens to your wants and … Continue reading

2016: Homeowner’s Net Worth Will Be 45x Greater Than a Renter

by Chris Druesedow October 26, 2015

2016: Homeowner’s Net Worth Will Be 45x Greater Than a Renter | Keeping Current Matters Every three years the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400). In a recent Forbes article the National Association of Realtors’ (NAR) Chief Economist Lawrence Yun predicts that in 2016 the net worth gap will widen even further to 45 times greater. The graph below demonstrates the results of the last two Federal Reserve studies and Yun’s prediction: Increasing Gap in Family … Continue reading

Do You Really Think Your Landlord Pays for Repairs?

by Chris Druesedow October 23, 2015

Do You Really Think Your Landlord Pays for Repairs? | Keeping Current Matters A recent article that appeared on Nasdaq.com addressed the issue of whether it is best to buy or rent in today’s real estate environment. The article was very fair in discussing both options. However, there was one portion of the article that we questioned. One of the experts was quoted as saying: “For some people, the choice is very clear: Buying a home can be more costly, given the cost of the purchase itself, plus taxes and insurance, plus maintenance and repairs.” This argument is often made in defense of renting. However, we don’t believe it makes logical sense. They claim that, … Continue reading

Here Come the Millennials!!

by Chris Druesedow October 22, 2015

Here Come The Millennials!! | Keeping Current Matters Many have been wondering when the much anticipated move by Millennials’ into homeownership would actually take place. We know the belief in owning a home is there. According to a recent Merrill Lynch study, eighty one percent of Millennials believe “homeownership is an important part of the American Dream”. This compares favorably to previous generations. American Dream By Generation | Keeping Current Matters The obstacle seemed to be employment. It appears that is about to change. The most recent jobs report disappointed many economists. However, the silver lining in that cloud of doubt was Millennials. Jonathan Smoke, realtor.com Chief Economist, reported: “About 33% of civilian jobs created … Continue reading

Family Wealth Grows as Home Equity Builds

by Chris Druesedow October 21, 2015

Family Wealth Grows as Home Equity Builds | Keeping Current Matters With residential real estate values rising quite substantially in most parts of the country over the last few years, many homeowners are seeing a major increase in their family’s wealth as equity continues to build in their house. A recent study by the Joint Center of Housing Studies at Harvard University revealed that home equity grew nicely last year and has grown dramatically over the last five years… Inflation & Home Equity | Keeping Current Matters Buyers looking today may not see the same build-up in equity but could still do quite well. Let’s assume you went into contract in the next six weeks … Continue reading

Applying For A Mortgage: Why So Much Paperwork?

by Chris Druesedow October 20, 2015

Applying For A Mortgage: Why So Much Paperwork? | Keeping Current Matters We are often asked why there is so much paperwork mandated by the bank for a mortgage loan application when buying a home today. It seems that the bank needs to know everything about us and requires three separate sources to validate each and every entry on the application form. Many buyers are being told by friends and family that the process was a hundred times easier when they bought their home ten to twenty years ago. There are two very good reasons that the loan process is much more onerous on today’s buyer than perhaps any time in history. The government has … Continue reading

Home Equity: You May Have More Than You Think

by Chris Druesedow October 7, 2015

Home Equity: You May Have More Than You Think | Keeping Current Matters CoreLogic recently released their 2015 2nd Quarter Equity Report which revealed that 759,000 properties had regained equity in the last quarter. That means that 91% of all mortgaged properties (approximately 45.9 million) are now in a positive equity position. Anand Nallathambi, president and CEO of CoreLogic, reported: “For much of the country, the negative equity epidemic is lifting. The biggest reason for this improvement has been the relentless rise in home prices over the past three years which reflects increasing money flows into housing and a lack of housing stock in many markets.” Obviously, this is great news for the financial situation … Continue reading

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