August 6, 2019 rummy

Home is not just a place to live, it offers so much more to the owner and his family. Whatever reason you may have for thinking of buying a home, here are three more good ones to make that decision now. 1. Affordability Many people focus solely on price when talking about home affordability. Since home prices have appreciated throughout the past year, they assume homes are less affordable. However, affordability is determined by three components: Price Wages Mortgage Interest Rate Prices are up, but so are wages – and interest rates have recently dropped dramatically (see #2 below). As…

July 31, 2019 rummy

Are you fed up with the consistent rise in rent? Have you ever thought of buying a home instead of paying someone else’s mortgage? What’s holding back could simply be your hesitation as you may be pleasantly surprised by what’s needed to purchase a home. According to the 2018 Bank of America Homebuyer Insights Report, 74% of renters plan on buying within the next 5 years, and 38% are planning to buy within the next 2 years. When those same renters were asked why they disliked renting, 52% said rising rental costs were their top reason. The results of the…

July 30, 2019 rummy

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July 26, 2019 rummy

It’s not commonly known to everyone that a significant percentage of houses bought in the US are purchased by small investors. Is this a good thing or a bad thing? Well, the truth is, it’s both, it makes the market move which helps maintain a healthy balance of supply and demand. Many have speculated that the large institutional conglomerates such as Blackstone, American Homes 4 Rent, and Colony Starwood dominate investor purchases. However, a special report on investor home buying by CoreLogic, Don’t Call it a Comeback: Housing Investors Have Been Here for Years, shows this is not the case….

July 25, 2019 rummy

There’s no doubt refinancing options are tempting to many but is it the right choice for you? The truth is, the answer depends on how long you plan to stay at your home. Why do you want to refinance? There are many reasons to refinance, but here are three of the most common ones: Lower your interest rate and payment – This is the most popular reason. If you have a 5% interest rate or higher, it might be worth seeing if you can take advantage of the current lower interest rates, hovering below 4%, to reduce your monthly payment…

July 10, 2019 rummy

Aside from the obvious reasons about priorities, knowing what you want versus what you need will also help your buying experience go a tad bit smoother and seamless. If you’ve been thinking about buying a home of your own for some time now, you’ve probably come up with a list of things that you’d LOVE to have in your new home. Many new homebuyers fantasize about the amenities that they see on television or Pinterest, and start looking at the countless homes listed for sale through rose-colored glasses. Do you really need that farmhouse sink in the kitchen to be…

July 5, 2019 rummy

They may have taken longer than previous generations to finally decide they are ready to buy their first homes, but we are now seeing more and more interest from these young generations online and in social media. According to a survey from Open Listings, 70% of single renters are more likely to spend their Sunday nights swiping through house listings than dating profiles. All that time window shopping has led 45% of millennials to expect the first home they buy to be their “dream home”! They are willing to wait longer, save more for a larger down payment, and are…

June 27, 2019 rummy

Out of all the generations this century, Gen X has endured the most losses in terms of real estate investments. But is it finally their time to shine this year? Are the Gen X homeowners ready to finally move up their dream home? According to Pew Research Center, “Their fortunes have rebounded more than those of other generations during the post-recession economic expansion and as home and stock prices have risen. Since 2010, the median net worth of Gen X households has risen 115%. In fact, in 2016, the most recent year with available data, the net worth of a…

June 20, 2019 rummy

Although it’s generally accepted that owning a home offers more benefits than renting, the real reason behind why personally chose one over the other is sometimes governed by our current situation. Let’s take a closer look at what each has to offer. Renting With the housing market crash in 2008, many homeowners lost their homes and became renters. According to Iproperty Management, “the number of households renting their home … rose from 31.2% of households in 2006 to 36.6% in 2016”. Some choose to rent because it is more convenient for their lifestyle. Those whose job requires frequent moves need…

June 18, 2019 rummy

If you ask prospective home buyers what they think the biggest obstacle they need to tackle is, sure enough, you’ll hear two constant answers come up in almost all of them. Let’s find out what they are and see if any of them holds ground. Freddie Mac recently released a report entitled, “Perceptions of Down Payment Consumer Research.” Their research revealed that, “For many prospective homebuyers, saving for a down payment is the largest barrier to achieving the goal of homeownership. Part of the challenge for those planning to purchase a home is their perception of how much they will…