October 17, 2019 rummy

Recent studies show that home equity is the top contributor to your net worth closely followed by retirement accounts, stocks and mutual funds, assets at financial institutions and the rest. Economist Jonathan Eggleston and Survey Statistician Donald Hays, both of the U.S. Census Bureau, shared the biggest determinants of wealth, “The biggest determinants of household wealth [are] owning a home and having a retirement account.” (Shown in the graph below): This does not come as a surprise, as we often mention that homeownership can help you to increase your family’s wealth. This study reinforces that idea, “Net worth is an…

September 4, 2019 rummy

It appears that the balance between housing supply and demand continues to elude us. We’re no stranger to its ever so active fluctuations and we know very well the benefits and repercussions it brings. Let’s take a closer look at the housing market’s current state and find out about the opportunities that come with it. The number of new housing permits issued prior to the great recession increased for 15 years until 2005 (from 1.12 million in 1990 to a pre-recession peak of 2.16 million in 2005). According to Apartment List, “From 1990 to 2005, the number of single-family permits…

August 22, 2019 rummy

We’ve been reading a lot of comments and questions about housing affordability lately that we decided to address what most people find confusing about this particular topic. If you’re one of the many people in the gray zone as to whether or not to believe the thing you see and hear about housing affordability crisis, then you better read this. 1. National Association of Realtors’ (NAR) Housing Affordability Index: Here is a graph showing the index going all the way back to 1990. The higher the column, the more affordable homes are: We can see that homes are less affordable…

August 20, 2019 rummy

There’s a good side in everything, rising home prices included. Today we’re listing down not one, not two, but three benefits of growing equity in your home. Read more to find out. 1. Move-Up Opportunity With the rise in prices, homeowners naturally experience an increase in home equity. According to the Homeowner Equity Insights from CoreLogic, “In the first quarter of 2019, the average homeowner gained approximately $6,400 in equity during the past year.” This increase in profit means if homeowners decide to sell, they’ll be able to put their equity to work for them as they make plans to…

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 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…

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 25, 2019 rummy

Let us update you with what’s currently happening in the real estate market. We have a list of three significant influencers that directly impacts our seller’s market as we know it. 1. Interest Rates One of the most important things to consider when buying a home is the interest rate you will be charged to borrow the money. In our recent post we posed the question, “Are Low Interest Rates Here To Stay?” The latest information from Freddie Mac makes it appear they are. We are currently at a 21-month low in interest rates. 2. Building Materials Talk of tariffs…

June 13, 2019 rummy

Experiences may vary from person to person, but regardless of the method of procurement, type of home acquired, location and owner’s demographic, there’s one universal emotion radiating from a home owned versus rented home all across the board. Frederick Peters, a contributor for Forbes, recently wrote about that feeling, and the pride that comes from owning your own home. “As homeowners discover, living in an owned home feels different from living in a rented home. It’s not just that an owner can personalize the space; it touches a chord even more fundamental than that. Homeownership enhances the longing for self-determination…

June 8, 2019 rummy

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