The Connection Between Home Prices and Family Wealth

First Time Home Buyers, For Buyers, Move-Up Buyers, Pricing
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Over the next five years, home prices are expected to appreciate 3.22% per year on average and to grow by 17.3% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey. So, what does this mean for homeowners and their equity position? As an example, let’s assume a young couple purchased and closed on a $250,000 home in
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Renting or Buying… Either Way You’re Paying a Mortgage

First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers
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There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s. As Entrepreneur Magazine, a premier source for small business, explained this month
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What Are the Experts Saying about Mortgage Rates?

First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers
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Mortgage interest rates have risen over the last few months and projections are that they will continue their upswing throughout 2017. What impact will this have on the housing market? Here is what the experts are saying: Laurie Goodman, Co-director of the Urban Institute’s Housing Finance Policy Center: “In 1984, 1994, 2000, and 2013, every
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The Impact of Homeownership on Family Health

First Time Home Buyers, For Buyers, Move-Up Buyers
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The National Association of Realtors recently released a study titled ‘Social Benefits of Homeownership and Stable Housing.’ The study confirmed a long-standing belief of most Americans: “Owning a home embodies the promise of individual autonomy and is the aspiration of most American households. Homeownership allows households to accumulate wealth and social status, and is the
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Which Homes Have Appreciated the Most?

First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers
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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. The CoreLogic report
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A Tale of Two Markets: Inventory Mismatch Paints a More Detailed Picture

First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers
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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. Historically, inventory must reach a 6-month
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Mortgage Interest Rates Went Up Again… Should I Wait to Buy?

First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers
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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. This has caused some purchasers to lament the fact they may no longer be able to get
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Spring Forward: The Difference An Hour Makes

First Time Home Buyers, For Buyers, Housing Market Updates, Investment Properties, Move-Up Buyers
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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
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