Wednesday, January 25, 2017 / by June Quilantang
According to ATTOM Data Solutions’ 2017 Rental Affordability Report, buying a home is more affordable than renting in 354 of the 540 U.S. counties they analyzed. The report found that “making monthly house payments on a median-priced home — including mortgage, property taxes and insurance — is more affordable than the fair market rent on a three-bedroom property in 354 of the 540 counties analyzed in the report (66 percent).” For the report, ATTOM Data Solutions compared recently released fair market rent data from the Department of Housing and Urban Development with reported income amounts from the Department of Labor and Statistics to determine the percentage of income that a family would have to spend on their monthly housing cost (rent or mortgage payments). Rents have been surging faster than home prices in about 37% of the markets measured. Daren Blomquist, Senior Vice President of ATTOM Data Solutions warns that rising interest rates could be ...
Tuesday, January 17, 2017 / by June Quilantang
In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search. Even if you are in a market that is not as competitive, knowing your budget will give you the confidence of knowing if your dream home is within your reach. Freddie Mac lays out the advantages of pre-approval in the My Home section of their website: "It's highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets." One of the many advantages of working with a local real estate professional is that many have relationships with lenders who will be ab ...
Tuesday, January 17, 2017 / by June Quilantang
Have you ever been flipping through the channels, only to find yourself glued to the couch in an HGTV binge session? We’ve all been there… watching entire seasons of “Love it or List it,” “Fixer Upper,” “House Hunters,” “Property Brothers,” and so many more, just in one sitting. When you’re in the middle of your real estate themed show marathon, you might start to think that everything you see on TV must be how it works in real life, but you may need a reality check.
Reality TV Show Myths vs. Real Life:
Myth #1: Buyers look at 3 homes and make a decision to purchase one of them.
Truth: There may be buyers who fall in love and buy the first home they see, but according to the National Association of Realtors the average homebuyer tours 10 homes as a part of their search.
Myth #2: The houses the buyers are touring are still for sale.
Truth: The reality is being staged for TV. Many of the homes being shown ar ...
Friday, January 13, 2017 / by June Quilantang
It appears that Americans are regaining faith in the U.S. economy. The following indexes have each shown a dramatic jump in consumer confidence in their latest surveys:
The University of Michigan Consumer Sentiment Index
National Federation of Independent Businesses' Small Business Optimism Index
CNBC All-America Economic Survey
The Conference Board Consumer Confidence Survey
It usually means good news for the housing market when the country sees an optimistic future. People begin to dream again about the home their family has always wanted, and some make plans to finally make that dream come true. If you are considering moving up to your dream home, it may be better to do it earlier in the year than later. The two components of your monthly mortgage payment (home prices and interest rates) are both projected to increase as the year moves forward, and interest rates may increase rather dramatically. Here are some predictions on where rates will be by the end of the ...
Thursday, January 12, 2017 / by June Quilantang
We can hit you with advice and free information until your eyes and ears hurt, but we know when it comes to money most people want to see results. If we say we’re going to hit the ground running in 2017 there is only one way to prove a statement like that; through ACTION
In our most recent blogs and videos we stressed ACTION; It’s a new year! Go out there and get it done! Just DO It! Well let’s see, it’s only the 11th and already we have a CLOSING to tell you about. The best part about this sale is the fact that we got the job done where others had given up.
Are you wondering if this is the right time to sell? Let me tell you a story about this listing we just CLOSED today, then I’ll let you decide. This property was back and forth on the market for about 2 years. Initial thoughts; 2 years, the problem is probably price. You read that correctly,” the problem” was proba ...