Move-Up Buyers
2 Myths Holding Back Home Buyers
In Realtor.com’s recent article, “Home Buyers’ Top Mortgage Fears: Which One Scares You?” they mention that “46% of potential home buyers fear they won’t qualify for a mortgage to the point that they don’t even try.” Myth #1: “I Need a 20% Down Payment” Buyers overestimate the down payment funds needed to qualify for a […]
Read MoreDo You Know How Much Equity You Have in Your Home?
CoreLogic’s latest Equity Report revealed that 91,000 properties regained equity in the first quarter of 2017. This is great news for the country, as 48.2 million of all mortgaged properties are now in a positive equity situation. Price Appreciation = Good News for Homeowners Frank Nothaft, CoreLogic’s Chief Economist, explains: “One million borrowers achieved positive equity over the last year, […]
Read MoreTop Home Renovations for Maximum ROI [INFOGRAPHIC]
Some Highlights:
- Whether you are selling your home, just purchased your first home, or are a homeowner planning to stay put for a while, there is value in knowing which home improvement projects will net you the most Return On Investment (ROI).
- While big projects like adding a bathroom or a complete kitchen remodel are popular ways to increase a home’s value, something as simple as updating landscaping and curb appeal can have a quick impact on a home’s value.
- For more information about top renovation projects that net you the most ROI, you can check out the complete list here.
4 Great Reasons to Buy This Spring!
Here are four great reasons to consider buying a home today instead of waiting.
Read MoreDon’t Let Your Luck Run Out [INFOGRAPHIC]
Some Highlights:
- The “Cost of Waiting to Buy” is defined as the additional funds it would take to buy a home if prices and interest rates were to increase over a period of time.
- Freddie Mac predicts that interest rates will increase to 4.8% by this time next year, while home prices are predicted to appreciate by 4.8% according to CoreLogic.
- Waiting until next year to buy could cost you thousands of dollars a year for the life of your mortgage!
Which Homes Have Appreciated the Most?
Home values have risen dramatically over the last twelve months. The latest Existing Home Sales Report from the National Association of Realtors puts the annual increase in the median existing-home price at 7.1%. CoreLogic, in their most recent Home Price Insights Report, reveals that national home prices have increased by 6.9% year-over-year.
Read MoreA Tale of Two Markets: Inventory Mismatch Paints a More Detailed Picture
The inventory of existing homes for sale in today’s market was recently reported to be at a 3.6-month supply according to the National Association of Realtors latest Existing Home Sales Report. Inventory is now 7.1% lower than this time last year, marking the 20th consecutive month of year-over-year drops.
Read MoreMortgage Interest Rates Went Up Again… Should I Wait to Buy?
Mortgage interest rates, as reported by Freddie Mac, have increased over the last several weeks. Freddie Mac, along with Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors, is calling for mortgage rates to continue to rise over the next four quarters.
Read MoreSpring Forward: The Difference An Hour Makes [INFOGRAPHIC]
Some Highlights:
- Don’t forget to set your clocks forward this Sunday, March 12th at 2:00 AM EST in observance of Daylight Savings Time.
- Unless of course, you are a resident of Arizona or Hawaii!
- Every hour in the United States: 649 homes are sold, 177 homes regain equity (meaning they are no longer underwater on their mortgage), and the median home price rises $1.86!
Builder Confidence Hits 11-Year High
In many areas of the country, there are not enough homes for sale to satisfy the number of buyers looking to purchase their dream homes. Experts have long proposed that a ramp-up in new, single-family home construction would be one of the many ways to overcome this inventory shortage.
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