The residential real estate market has come roaring out of the gates in 2020. Compared to this time last year, the number of buyers looking for a home is up 20%, and the number of home sales is up almost 10%. The increase in purchasing activity has caused home price appreciation to begin reaccelerating. Many analysts have boosted their projections for price appreciation this year. Whenever home prices...
First Time Home Buyers
Buying your first home can seem overwhelming. Thankfully, there’s a lot of great information out there to help you feel more confident as you learn about the process. For those in younger generations who aspire to buy, here are three things to consider sooner rather than later in your journey: 1. Understand What it Takes to Purchase a Home Overall, Millennials make up the largest group of homebuyers...
Spring is right around the corner, so flowers are starting to bloom, and many potential homebuyers are getting ready to step into the market. If you’re thinking of buying this season, here’s how mortgage interest rates are working in your favor. Freddie Mac explains: “If you’re in the market to buy a home, today’s average mortgage rates are something to celebrate compared to...
If you’re looking to buy a home in 2020, have you thought about putting your tax refund toward a down payment? Homeownership may be one step closer than you think if you spend your dollars wisely this year. Based on data released by the Internal Revenue Service (IRS), Americans can expect an estimated average refund of $2,962 when filing their taxes this year. The map...
Some Highlights: If you’re thinking of buying a home and you’re not sure where to start, you’re not alone. Here’s a guide with 10 simple steps to follow in the homebuying process. Be sure to work with a trusted real estate professional to find out the specifics of what to do in your local...
Earlier this month, the National Association of Realtors (NAR) released a special study titled Single-Family Home Price Gains by Years of Tenure. The study estimates median home price appreciation over the last 30 years based on the length of homeownership. Below are three graphs depicting the most important data revealed in the study. How much have home prices increased? One of the first measures of the...
In the spring, many excited buyers get ready to enter the housing market. Others continue dreaming about the homes they’d like to buy. The truth is, many potential buyers continue to dream longer than they need to, simply because they’re confused about the homebuying process. Thankfully, working with a trusted real estate professional can help ease those concerns and make the process to...
There are many clear financial benefits to owning a home: increasing equity, building net worth, growing appreciation, and more. If you’re a renter, it’s never too early to make a plan for how homeownership can propel you toward a stronger future. Here’s a dive into three often-overlooked financial benefits of homeownership and how preparing for them now can steer you in the direction of...
Some Highlights: There are many benefits to love about homeownership, and they’re not all financial. Being a part of a neighborhood, driving academic achievement, and improving mental health are just a few of these advantages. Let’s get together today to determine if you’re ready to embrace the rewards of owning your own...
Regardless of the lack of inventory on the market, the U.S. homeownership rate has climbed to a 6-year high. The United States Census Bureau reported that it increased to 65.1% in the fourth quarter of 2019, representing the highest level in the past six years. See the graph below:This increase does not come as a surprise. According to realtor.com, “The largest cohort of the millennial generation...