November 16, 2018 rummy

If you’re into real estate news, you’re probably aware that supplies have gone up again balancing the scale between supply and demand. Most of the inventory that helped make this happen came from newly constructed homes. If you’re thinking of buying a brand new home, here are some tips you ought to have to follow to make sure you get the best value for your money. 1. Hire an Inspector Despite the fact that builders must comply with town and city regulations, a home inspector will have your best interests in mind! When buying new construction, you will have between…

November 14, 2018 rummy

A notable percentage of the Americans who decided to rent over purchasing their own home have their decisions influenced by the notion that home prices are higher today than the last 10 years. Although there is a certain level of truth to this claim, it does not necessarily mean that renting is cheaper. For the last ten years, you could purchase a home at a dramatically discounted price and attain a mortgage at a historically low mortgage rate. Affordability skyrocketed. Now that home values have returned to where they should be, and mortgage rates are beginning to increase, it is…

November 13, 2018 rummy

Are you one of the millions of aspiring homeowners who are having second thoughts? Are you afraid that you will be required to shell out a huge chunk of the home’s total price as down payment? Do you hesitate because of your credit score? If your answer is yes, then you might be amazed and surprised to read this. Urban Institute recently released a report entitled, “Barriers to Accessing Homeownership: Down Payment, Credit, and Affordability,” which revealed that, “Consumers often think they need to put more money down to purchase a home than is actually required. In a 2017 survey,…

November 6, 2018 rummy

It’s not unlikely for someone to spend too much on rent without their knowledge. The truth is, most people are unaware that they are spending too much on rent or what’s the threshold to consider to tell if they’re coming close to it. According to new data released from ApartmentList.com, 49.5 million renters in the United States were cost-burdened in 2017, meaning they spent more than 30% of their monthly incomes on rent. This accounts for nearly half of all renter households in the country and is up 3.1 million from 2007. When a household is cost-burdened by their monthly…

November 1, 2018 rummy

One of the common misconception about buying a new home has to fall under the myth of ever so scary down payment. It’s not uncommon for people to say the 15%-20% is what the market demands to buy a home, which is true back then. The real estate market is an ever-changing environment, much of what we know before are either obsolete or holds little truth with our current market today. Now that the largest generation since baby boomers has aged into prime homebuying age, there will no doubt be an uptick in the national homeownership rate. The study from…

October 30, 2018 rummy

Nowadays, it is quite typical for the majority of the people suspect bigger forces are at work behind everything that is happening to our lives that we do not necessarily want. The government, the 1% or simply big companies conspiring to make our lives miserable beyond belief. Recently, there have been rumors about why and what is causing the home prices to go up. Let’s shed light on this matter by reminding everyone about the law of supply and demand. Whenever there is a limited supply of an item that is in high demand, prices increase. It is that simple….

October 25, 2018 rummy

Despite the popularity, it’s hard to believe that there are still a few brave Americans out there that’s out of the loop on the information circle on their benefits. Let’s extend a helping hand to make sure all of them get these well-deserved benefits for themselves. If you are a veteran or you know someone who is, here is a breakdown of the VA Home Loan benefits that can be used to achieve the American Dream! Top 5 Benefits of a VA Home Loan The greatest benefit of a VA Loan is that borrowers can buy a home with a…

October 24, 2018 rummy

It’s normal to hesitate on big decisions such as buying your first home, you don’t want to jump the gun only to regret it afterward. Some may say you can never tell until you give it a try, wrong! Truth is, owning a home is costly enough as it is, what more is real estate mistake. There are ways to find out how you fare in the market, and the outcome may pleasantly surprise you. 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…

October 23, 2018 rummy

We all know how competitive the real estate market has become due to the recent mortgage interest rate increase and scarcity of inventory. You don’t want to jump into the market unprepared and waste time an effort, so we came up with a guide for your buying experience to be as smooth and pleasant as possible. Below are 4 steps provided by Freddie Mac to help buyers make offers, along with some additional information for your consideration: 1. Determine Your Price “You’ve found the perfect home and you’re ready to buy. Now what? Your real estate agent will be by…

October 17, 2018 rummy

The real estate market has become competitive and intimidating place in some areas. It’s best to prepare yourself before entering the market for your home purchase. In a recent realtor.com article entitled, “How to Find Your Dream Home-Without Losing Your Mind,” the author highlights some steps that first-time homebuyers can take to help carry their excitement of buying a home throughout the whole process. 1. Get Pre-Approved for a Mortgage Before You Start Your SearchOne way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search. Even…