Why Did Home Sales Drop So Dramatically Last Month?

by Chris Druesedow December 28, 2015

Why Did Home Sales Drop So Dramatically Last Month? | Keeping Current Matters Yesterday, the National Association of Realtors (NAR) released their latest Existing Home Sales Report which covered sales in November. The report revealed that sales: “…fell 10.5 percent to a seasonally adjusted annual rate of 4.76 million in November (lowest since April 2014 at 4.75 million)…” That revelation gave birth to a series of industry articles, some of which quoted pundits questioning whether the housing market was slowing. In actuality, there is one rather simple explanation to much of the falloff in sales last month. It is likely the implementation of the “Know Before You Owe” mortgage rule, commonly known as the TILA-RESPA … Continue reading

Building Family Wealth Over The Next 5 Years

by Chris Druesedow December 22, 2015

Building Family Wealth Over The Next 5 Years | Keeping Current Matters As the economy continues to improve, more and more Americans are seeing their personal financial situations also improving. Instead of just getting by, many are now beginning to save and find other ways to build their net worth. One way to dramatically increase their family wealth is through the acquisition of real estate. For example, let’s assume a young couple purchases and closes on a $250,000 home in January. What will that home be worth five years down the road? Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists every quarter. They ask them … Continue reading

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

by Chris Druesedow December 21, 2015

Home Prices: Where Are They Headed Over 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 they believe 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 3.9% by the end of 2015, 3.4% in 2016 and 3.1% in each of the following four years (as … Continue reading

FSBO, List Again or OTM? A Seller’s Dilemma

by Chris Druesedow December 17, 2015

FSBO, List Again or OTM? A Seller’s Dilemma | Keeping Current Matters At the end of December, in every region of the country, hundreds of homeowners have a tough decision to make. The ‘listing for sale agreement’ on their house is about to expire and they now must decide to either take their house off the market (OTM), For Sale by Owner (FSBO) or list it again with the same agent or a different agent. Let’s assume you or someone you know is in this situation and take a closer look at each possibility: Taking Your Home off the Market In all probability, after putting your house on the market and seeing it not sell, … Continue reading

How Long Does It Take To Save A Down Payment?

by Chris Druesedow December 16, 2015

How Long Does It Take To Save A Down Payment? | Keeping Current Matters In a recent study conducted by Builder.com, researchers determined that nationwide it would take “nearly eight years” for a first-time buyer to save enough for a down payment on their dream home. Depending on where you live, median rents, incomes and home prices all vary. By determining the percentage a renter spends on housing in each state and the amount needed for a 10% down payment, they were able to establish how long (in years) it would take for an average resident to save. According to the study, residents in South Dakota are able to save for a down payment the … Continue reading

Selling Your House? 5 Reasons You Shouldn’t For Sale By Owner

by Chris Druesedow December 15, 2015

Selling Your House? 5 Reasons You Shouldn’t For Sale By Owner | Keeping Current Matters In today’s market, with homes selling quickly and prices rising, some homeowners might consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons this might not be a good idea for the vast majority of sellers. Here are five of those reasons: 1. There Are Too Many People to Negotiate With Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner: The buyer who wants the best deal possible The buyer’s … Continue reading

Buying A Home? Do You Know The Difference Between Cost & Price?

by Chris Druesedow December 14, 2015

Buying A Home? Do You Know The Difference Between Cost & Price? | Keeping Current Matters As a seller, you will be most concerned about ‘short term price’ – where home values are headed over the next six months. As a buyer, you must be concerned not about price but instead about the ‘long term cost’ of the home. The Mortgage Bankers Association (MBA), the National Association of Realtors, Fannie Mae and Freddie Mac all projected that mortgage interest rates will increase by about three-quarters of a percentage point over the next twelve months. According to CoreLogic’s most recent Home Price Index Report, home prices will appreciate by 5.2% over the next 12 months. What … Continue reading

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