Thinking of Selling? Why Now May Be The Time | Keeping Current Matters It is common knowledge that a large number of homes sell during the spring-buying season. For that reason, many homeowners hold off on putting their home on the market until then. The question is whether or not that will be a good strategy this year. The other listings that do come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market in the spring, as compared to the rest of the year? The National Association of Realtors (NAR) recently revealed which months most people listed their home in for 2015. … Continue reading
A Million+ Boomerang Buyers about to Enter Market | Keeping Current Matters TransUnion recently released the results of a new study titled “The Bubble, the Burst and Now – What Happened to the Consumer?” The study revealed that 1.5 million homeowners that were negatively impacted by the housing crisis could re-enter the housing market in the next three years. TransUnion defined “negatively impacted” as… “…those who were 60+ days past due on a mortgage loan, lost their mortgage through foreclosure, short sale or other non-satisfactory closure, or had a mortgage loan modification between the Bubble and Burst.” Other interesting findings in the study: During the mortgage bubble in 2006, 78 million consumers, or 43% of … Continue reading
Should I Buy Now Or Wait Until Next Year? [INFOGRAPHIC] | Keeping Current Matters Some Highlights: The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time. Freddie Mac predicts interest rates to rise to 4.8% by next year. CoreLogic predicts home prices to appreciate by 5.3% over the next 12 months. If you are ready and willing to buy your dream home, find out if you are able to!
What Do You Actually Need to Get a Mortgage? | Keeping Current Matters Fannie Mae recently released their “What do consumers know about the Mortgage Qualification Criteria?” Study. The study revealed that Americans are misinformed about what is required to qualify for a mortgage when purchasing a home. Here are three takeaways: 59% of Americans either don’t know (54%) or are misinformed (5%) about what FICO score is necessary 86% of Americans either don’t know (59%) or are misinformed (25%) about what an appropriate Back End Debt-to-Income (DTI) ratios is 76% of Americans either don’t know (40%) or are misinformed (36%) about the minimum down payment required To help correct these misunderstandings, let’s take a … Continue reading
Rents Still Skyrocketing | Keeping Current Matters Zillow recently revealed that the 43 million renter households in the US spent $535 billion on rent in 2015. Aggregate numbers like these often make it difficult to truly assess a situation. For more clarity, we want to share some points that were made in a Wall Street Journal article earlier this month. The article made two important points: 1. Rents are increasing faster than the last several years: “Apartment rents increased faster last year than at any time since 2007.” 2. Rent increases are accelerating “Another report from Axiometrics Inc., a Dallas-based apartment research company, showed that rents increased 4.7% in the fourth quarter compared with the … Continue reading
Are You Wondering What It Takes To Buy Your First Home? | Keeping Current Matters There are many people sitting on the sidelines trying to decide if they should purchase a home or sign a rental lease. Some might wonder if it makes sense to purchase a house before they are married and have a family. Others may think they are too young. And still others might think their current income would never enable them to qualify for a mortgage. We want to share what the typical first time homebuyer actually looks like based on the National Association of REALTORS most recent Profile of Home Buyers & Sellers. Here are some interesting revelations on the … Continue reading
Thinking of Buying? Selling? 5 Reasons You Need To Hire A Professsional | Keeping Current Matters Whether you are buying or selling a home, it can be quite an adventurous journey. You need an experienced Real Estate Professional to lead you to your ultimate goal. In this world of instant gratification and internet searches, many sellers think that they can For Sale by Owner or FSBO. The 5 Reasons You NEED a Real Estate Professional in your corner haven’t changed, but have rather been strengthened due to the projections of higher mortgage interest rates & home prices as the market continues to recover. 1. What do you do with all this paperwork? Each state has … Continue reading
Why Do Americans Consider Moving? [INFOGRAPHIC] | Keeping Current Matters Some Highlights: In a recent Harris Poll, Americans listed “change in climate/weather” as their top reason for wanting to relocate. 41% would move for a better job opportunity. Being closer to loved ones filled out 3 of the top 6 reasons why American’s move.
The Most Appealing Aspects of Homeownership | Keeping Current Matters The National Association of Realtors (NAR) just released their first issue of the Housing Opportunities & Market Experience Survey (HOME). In the report, NAR revealed what Americans believe to be the most appealing aspects of homeownership. Here is a graph showing the results: The Most Appealing Aspects of Homeownership | Keeping Current Matters It is interesting to see that the two most appealing aspects had nothing to do with money, but instead, addressed the non-financial benefits of homeownership.
Lack-Of-InveLack of Listings Slowing Down the Housing Market | Keeping Current Matters The housing crisis is finally in the rear view mirror as the real estate market moves down the road to a complete recovery. Home values are up. Home sales are up. Distressed sales (foreclosures and short sales) have fallen dramatically. It seems that 2016 will be the year that the housing market again races forward. However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout this winter, supply is not keeping up. Here are the thoughts of a few industry experts on the subject: … Continue reading