Housing Market Updates Archives

5 Reasons to Sell Your House This Summer

Here are 5 compelling reasons listing your home for sale this summer makes sense. 1. Demand Is Strong The latest Buyer Traffic Index from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing, and able to purchase… and are in the market right now! More often than not, multiple buyers are competing with each other for the same home. Take advantage of the buyer activity currently in the … Continue reading...

Top 4 Renovations for the Greatest Return on Investment! [INFOGRAPHIC]

Some Highlights: If you are planning on listing your house for sale this year, these four home improvement projects will net you the most Return on Investment (ROI). Minor renovations can go a long way toward improving the quality of your everyday life and/or impressing potential buyers. Whether you plan to stay in your house for a long time or just a few years, it’s smart to know which home renovations add the most value. Powered by WPeMatico … Continue reading...

Time for Your Dream Home, Gen X!

During the housing market crash, Gen X homeowners lost more wealth than other generations. However, things are changing now! A strong economy, increasing home prices, and the recovery of the housing market are helping this generation to regain their lost wealth. 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 … Continue reading...

3 Things to Know in the Housing Market Today!

A lot is happening in the world, and it’s having a direct impact on the housing market. The reality is this: some of it is positive and some of it may be negative. Some we just don’t know yet. The following three areas of the housing market are critical to understand: interest rates, building materials, and the outlook for an economic slowdown. 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 … Continue reading...

Renting or Owning, What Is Better for You?

In a real estate market where home prices are rising, many have begun to reexamine the idea of buying a home, choosing instead, to rent for a while. But often, there is a dilemma: should you keep paying rent, knowing that rent is rising too, or should you lock in your housing cost and buy a home? Let’s look at both scenarios and analyze the pros and cons of each: Renting With the housing market crash in 2008, many homeowners lost their homes and became renters. According to Iproperty Management, … Continue reading...

2 Myths Holding Back Home Buyers

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 need to save for the down payment… …Based on our recent survey of individuals planning to purchase a home in the next three years, nearly a third … Continue reading...

What is the Cost of Waiting Until Next Year to Buy? [INFOGRAPHIC]

Some Highlights: The “cost of waiting to buy” is defined as the additional funds necessary to buy a home if prices & interest rates were to increase over a period of time. Freddie Mac forecasts interest rates to rise to 4.5% by the Q4 2020. CoreLogic predicts home prices to appreciate by 4.8% over the next 12 months. If you are ready and willing to buy your dream home, find out if you are able to! Powered by WPeMatico … Continue reading...

What is Important to Boomers when Selling their House?

If you are a “baby boomer” (born between 1946 and 1964), you may be thinking about selling your current home. Your children may have finally moved out. Your large, four-bedroom house with three bathrooms no longer fits the bill. Taxes are too high. Utilities are too expensive. Cleaning and repair are too difficult. You may be ready to move into a home that better fits your current lifestyle. Many fellow boomers have already made the move you may be considering. The National Association of … Continue reading...

The Ultimate Truth about Housing Affordability

There have been many headlines decrying an “affordability crisis” in the residential real estate market. While it is true that buying a home is less affordable than it had been over the last ten years, we need to understand why and what that means. On a monthly basis, the National Association of Realtors (NAR), produces a Housing Affordability Index. According to NAR, the index… “…measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at … Continue reading...

Multigenerational Homes Are on the Rise

As loved ones start to get older, we start to wonder: how long will they be able to live alone? Will they need someone there to help them with daily life? There’s a reason to ask those questions now more than ever, as the average age in the U.S. is 78 years old! As a result, 41% of Americans in the market are searching for a home that can accommodate a multigenerational family. The graph below shows the number of people by generation that purchased a multigenerational home because they will … Continue reading...