You Will Need to Sell Your Home Twice

by Chris Druesedow December 10, 2015

You Will Need to Sell Your Home Twice | Keeping Current Matters A recent post on “The Home Story”, a site published by Fannie Mae, explained the difference between the price a seller may get for their home and the value an appraiser might assign the property. The Sales Price Of course, most sellers want to maximize the value they get for the house. However, the price they set might not be reflective of the other comparable homes in the neighborhood. As the article stated: “People tend to view their homes emotionally, and that can become quickly apparent when they decide to sell.” That doesn’t mean that the home won’t necessarily sell for that price. … Continue reading

Home Prices: Past, Present & Future

by Chris Druesedow December 9, 2015

Home Prices: Past, Present and Future | Keeping Current Matters CoreLogic released their most current Home Price Index last week. In the report, they revealed home appreciation in three categories: percentage appreciation over the last year, over the last month and projected over the next twelve months. Here are state maps for each category: The Past – home appreciation over the last 12 months Home Prices Past | Keeping Current Matters The Present – home appreciation over the last month Home Prices Present | Keeping Current Matters The Future – home appreciation projected over the next 12 months Home Prices Future | Keeping Current Matters Bottom Line: Homes across the country are appreciating at different … Continue reading

What You Really Need To Qualify For A Mortgage

by Chris Druesedow December 8, 2015

What You Really Need To Qualify For A Mortgage | Keeping Current Matters A recent survey by Ipsos found that the American public is still somewhat confused about what is actually necessary to qualify for a home mortgage loan in today’s housing market. The study pointed out two major misconceptions that we want to address today. 1. Down Payment The survey revealed that consumers overestimate the down payment funds needed to qualify for a home loan. According to the report, 36% think a 20% down payment is always required. In actuality, there are many loans written with a down payment of 5% or less. Below are the results of a Digital Risk survey done on … Continue reading

NAR Reports Reveal Two Reasons to Sell This Winter

by Chris Druesedow December 7, 2015

NAR Reports Reveal Two Reasons to Sell This Winter | Keeping Current Matters We all realize that the best time to sell anything is when demand is high and the supply of that item is limited. The last two major reports issued by the National Association of Realtors (NAR) revealed information that suggests that now is a great time to sell your house. Let’s look at the data covered by the latest Pending Home Sales Report and Existing Home Sales Report. THE PENDING HOME SALES REPORT The report announced that pending home sales (homes going into contract) are up 3.9% over last year, and have increased year-over-year now for 14 consecutive months. Lawrence Yun, NAR’s … Continue reading

The Impact of Higher Interest Rates

by Chris Druesedow December 1, 2015

The Impact of Higher Interest Rates | Keeping Current Matters Last week, an article in the Washington Post discussed a new ‘threat’ homebuyers will soon be facing: higher mortgage rates. The article revealed: “The Mortgage Bankers Association expects that rates on 30-year loans could reach 4.8 percent by the end of next year, topping 5 percent in 2017. Rates haven’t been that high since the recession.” How can this impact the housing market? The article reported that recent analysis from Realtor.com found that – “…as many as 7% of people who applied for a mortgage during the first half of the year would have had trouble qualifying if rates rose by half a percentage point.” … Continue reading

Rent vs. Buy: Either Way You’re Paying A Mortgage

by Chris Druesedow November 30, 2015

Rent vs. Buy: Either Way You’re Paying A Mortgage | Keeping Current Matters There are some people that have not purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage – either your mortgage or your landlord’s. As The Joint Center for Housing Studies at Harvard University explains: “Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. … Continue reading

Millennials: What FICO Score is Needed to Buy a Home?

by Chris Druesedow November 24, 2015

Millennials: What FICO Score is Needed to Buy a Home? | Keeping Current Matters In a recent article by the Wharton School of Business at the University of Pennsylvania, it was revealed that some Millennials are not looking to purchase a home simply because they don’t believe they can qualify for a mortgage. The article quoted Jessica Lautz, the National Association of Realtors’ Managing Director of Survey Research, as saying that there is a significant population that does not think they will be approved for a mortgage and doesn’t even try. The article also quoted Fannie Mae CEO Tim Mayopoulos : “I do think that there’s a sense out there in the marketplace among borrowers … Continue reading

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