01/08/2017... Why putting your home on the market this spring is to your advantage!
In such a high demand, seller's market, homes are selling for record breaking prices, which means more money in the seller's pocket. If you have been considering selling your home, doing so in today's market will bring you a larger sales price. Homes are not only selling for top dollar but are typically sitting on the market for less than 30 days! Don't wait for the market to shift when interest rates begin to start going up again. When interest rates rise it makes homes that were once qualifiable for buyers out of reach.
The National Association of Realtors has gathered data to predict a strong 6 months of sales throughout the United States. And with such a large group of buyers hunting for homes during the summer months, you have a great potential to sell your home quickly, and move on to bigger and better things sooner. With such a high demand for homes, buyers are running into multiple offer situations. These multiple offer situations in turn spike prices of homes upward! Again, giving sellers more bang for their buck on their listing!
This is also a great buying opportunity if you are wanting to transition into a new home. Low interest rates equate to more savings. You could potentially end up getting a bigger home for the same monthly payment cost when you buy your next property.
If you have not already spoken with an agent, get in touch with one to get a complimentary CMA. See if the numbers work out for you and/or your family, and if moving is something you want to do. Whether you are re-sizing, or moving to a different state, your agent can get the numbers in order to make sure it's in your best interest to transition in today's market. Don't wait and lose tens of thousands of dollars in your sale price!
12/15/2017... Is This Thing On?!
Thinking about Renting vs. Buying? Home ownership rates are the lowest they have been 50 years. Yes, you read that correctly. Yet a large portion of Americans are still renting properties, instead of enjoying a home ownership.
Consumer reports believe this is an issue because of a buyer's lack of trust in their ability to purchase. It is still a long standing notion that a buyer needs 20% towards the cost of the home in order to move forward, but this isn't true. Of course there is a benefit to putting 20% down but, it is not the only way. With countless down payment assistant programs, and closing cost roll-ins, a home owner could move in with as little as a few hundred to a couple thousand dollars. Which is a huge difference in the time it takes to save up to make the move.
With interest rates at an all time low, home ownership in today's market is a great investment. The money saved over a mortgage's lifespan can result in tens of thousands of dollars, if not hundreds. That's more money in your pocket today. Don't wait to buy when interest rates soar again.With the uncertainty of rates in the feature one buyer who can buy today may not qualify tomorrow. This is why taking advantage of low interest rates translates into your monthly mortgage payments being significantly lower, as well. With such a heated housing marketing, rental prices are soaring, and statistics are constantly showing that home ownership can be equivalent to your rental rate each month, if not less. Why get stuck in a small 2 bedroom apartment, if you can move into a home a pay a monthly rate that is the same, and get a 3 bedroom house with a great backyard? You're already paying a mortgage if you're renting, it just is not yours! Landlords use renters to get rich in their sleep.
There is also a fear that a home can keep you "stuck" or "rooted" to one place, without an easy transition out if you decide to move. Although the future of the housing market isn't easily predictable from location to location, you can always discuss with your agent about buying a home in an area that has a strong turn-over rate when a home hits the market. The equity build up when it comes time to selling is going to be far more beneficial, than if you put money into a rental and decided to move. The money from selling the property can be used to purchase a new home. With renting, there would be no additional funds to transition into a new place. Heck you most likely will not even get your security deposit back!
Now imagine if you were renting a home for $2000/month. If your landlord is renting to make a profit, think how much less you'd be paying on a monthly basis towards your mortgage, if the home was yours. Then you wouldn't be paying a landlord to profit off of you, you'd be paying a reasonable rate, and get to call the property your own. Discuss with your agent and lender the steps you need to take towards home ownership, you might be happily surprised about the type of home you can afford to move into.
It starts here...