Friday, June 14, 2019 / by Michelle Ramos
More and more baby boomers sell their home for a lot of different reasons. But despite what triggered them to sell in the first place, there is something in common with every home put on the market by boomers - they all consider these things important.
The National Association of Realtors recently released their 2019 Home Buyer and Seller Generational Report. The report revealed many interesting tidbits about both categories of baby boomers: younger boomers (ages 54 to 63) and older boomers (64 to72). Here are a few of the more interesting topics.
Percentage of Buyers who Looked Online First
All Buyers: 44%
Younger Boomers: 46%
Older Boomers: 44%
Where Boomers Found the Home They Purchased
The two major ways buyers found the home they purchased:
All buyers: 50% on the internet, 28% through a real estate agent
Younger Boomers: 46% on the internet, 33% through a real estate agent
Older Boomers: 36% on the internet, 35% through a real estate agent
Thursday, June 13, 2019 / by Michelle Ramos
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 at the heart of the American Dream. First-time homeowners, young or old, radiate not only pride but also a sense of arrival, a sense of being where they belong. It cannot be duplicated by owning a 99-year lease.”
Owning a home brings a sense of accomplishment and confidence that cannot be achieved through renting.
If you a ...
Wednesday, June 12, 2019 / by Michelle Ramos
We all know that homeownership is one of the best investments out there. But how does it help one build up personal and family wealth exactly? Keep reading to find out.
How Housing Matters is a joint project of the Urban Land Institute and the MacArthur Foundation. It is an online resource for research and information on how homeownership contributes to individual and community success.
Their article, The First Rung on the Ladder to Economic Opportunity Is Housing, explains the importance of homeownership to a family’s financial health. In that article, they simply stated:
“The ladder to economic success can stretch only so high without the asset-building power of homeownership.”
To this point, National Association of Realtors’ (NAR) Economists’ Outlook Blog revealed in a recent post:
“Housing wealth contributes positively to the homeowner’s and children’s economic condition, because home equity can be tapped for e ...
Tuesday, June 11, 2019 / by Michelle Ramos
If you're planning to buy a home for your family this year and debating whether or not you should wait before the big jump, you must read this.
1. Prices Will Continue to Rise
CoreLogic’s latest U.S. Home Price Insights reports that home prices have appreciated by 3.7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.8% over the next year. Home values will continue to appreciate. Waiting may no longer makes sense.
2. Mortgage Interest Rates Are Projected to Increase
Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year fixed rate mortgage have started to level off around 4.3%. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac, and the National Association of Realtors are in unison, projecting rates will increase by this time next year. An increase in rates will impact YOUR monthly mortgage payment. ...
Friday, June 7, 2019 / by Michelle Ramos
For years now, real estate has been at the top of many American's lists of the preferred investment format. With constant irregularities, market fluctuations, and other influential factors the gap varies indicating the number of Americans who still trust in real estate to be a solid investment.
For the sixth year in a row, real estate has come out on top as the best long-term investment! That has not always been the case. Gallup explains:
“Between 2008 and 2010, covering most of the Great Recession period that saw plummeting home and stock values, Americans were as likely to name savings accounts or CDs as the best long-term investment as they were to name stocks or real estate.”
This year’s results showed that 35% of Americans chose real estate, followed by stocks at 27%. The full results are shown in the chart below.
Now that the real estate market has recovered, so has the belief of the American people in the stability of housing as a long-t ...