August 15, 2018 rummy

Whether it’s because of proximity to work or business or simply because your family has grown. You will come to think at some point that your home cannot keep up with your needs anymore. It may seem hard to imagine that the first home you purchased (which made your dreams come true) might not be the home that will allow you to achieve the rest of your dreams. The good news is that it’s okay to admit that your home no longer fits your needs! ​ According to CoreLogic’s latest Home Price Index, prices in the starter home market have appreciated faster than…

August 14, 2018 rummy

Currently, sellers are enjoying huge if not undivided attention from buyers as their visibility is at peak. There are reports, however, that this will change in the following months to come as permits for single-family units are granted. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the number of building permits issued in June was 850,000, a 0.8% increase from May. ​ How will this impact buyers? ​ More inventory means more options. Mark Fleming, First American’s Chief Economist, explained that this is good news for the housing market – especially for those looking to buy: “The continued year-over-year growth…

August 10, 2018 rummy

The law of supply and demand has been an existential issue in basically all known market (real estate included) since the early days of commerce. This has been seen and used time and again by power players in the arena as an opportunity to dominate and earn more. A lot of studies and speculation points at the recent mortgage rate changes as the main reason for home value increase this year. Here’s the reason why we think otherwise. “The amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price.”…

August 9, 2018 rummy

More and more Millennials turn up eager, ready and capable of becoming a homeowner. As the demand grows and supplies dwindle, there will be strict competition in the real estate arena. Here are a few things you need to know before you enter the market. Comparatively speaking, millennials have taken longer to obtain traditional milestones (like getting married, having kids and buying a home) than generations before them, but that does not mean that they do not aspire to still achieve those things. For older millennials (aged 25-34) who have established themselves in their career and are starting to build…

August 8, 2018 rummy

“If you are good at something, never do it for free”, these are wise words from a fictional movie “The Dark Night” spoken by the antagonist called the Joker. This emphasizes that expertise on any particular activity is not for everyone to achieve, some people just don’t have the time, while others just might have their passion set for something else. Needless to say, the occupation real estate professional was created because people realized a need for it. Here are some of the top reasons why it’s best to hire one before entering the market. 1. What do you do…

August 7, 2018 rummy

If we work on it right, every one of us could be sitting on our very own gold mine. According to millionaire David Bach, buying a home could be our ticket to wealth. This may sound counter-intuitive to some if given some thought will actually make a lot of sense. Homes have been at the top of the list of peoples investments for centuries. In a CNBC article, self-made millionaire David Bach explained that: “Buying a home is the escalator to wealth in America. Homeownership can also help you retire early, that is, if you pay your mortgage off.” Bach suggests that…

August 3, 2018 rummy

It’s a simple case of supply and demand. Lower inventory equates to higher demand which in turn leads to faster sales and occasionally, even higher prices. So this means higher yield, less time in the market with little effort. Let’s discuss. The National Association of Realtors (NAR) released the results of their latest Existing Home Sales Report which revealed that home sales declined 0.6% to a seasonally adjusted annual rate of 5.38 million in June from 5.41 million in May, and are 2.2% below a year ago. Some may look at these numbers and think that now is a bad time to sell their…

August 2, 2018 rummy

Most people can’t help but be concerned that mortgages changes may lead to another disaster, and we can’t blame them for we’ve been there before. The question remains, is there any foothold to peoples worries? Are lending standards truly propping up our home prices? Back in 2005, Federal Reserve Chairman Alan Greenspan described the dramatic increases in residential real estate values as a “froth in housing markets.” Greenspan went on to say: “The increase in the prevalence of interest-only loans and the introduction of more-exotic forms of adjustable-rate mortgages are developments of particular concern…some households may be employing these instruments to purchase homes that…

August 1, 2018 rummy

Despite the common belief that renting will save you more bucks, research shows a big gap in between buying and renting wherein for the first time in six years favors going to the former. The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting, with a traditional 30-year fixed rate mortgage, in 98 of the 100 largest metro areas in the United States. In the six years that Trulia has conducted this study, this is the first time that it was cheaper to rent than buy in any of the metropolitan areas. It’s no surprise, however, that those…

July 31, 2018 rummy

Not all agents are the same, some may be better than others particularly because of their knowledge of the demographics and there are some who just have the right priorities. Let’s talk about what you should look for in an agent before deciding to hire them. One great example of an agent who is in your corner and is always looking out for your best interests is one of the main characters on ABC’s Modern Family, Phil Dunphy. For those who aren’t familiar with the character, Phil is a REALTOR® with a huge heart who always strives to do his best for his family…