20180227-STM-ENG

Is Now a Good Time to Rent?

Buying A Home, Rent vs. Buy
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People often ask if now is a good time to buy a home, but nobody ever asks when it’s a good time to rent. Regardless, we want to make certain that everyone understands that today is NOT a good time to rent. The Census Bureau recently released their 2017 fourth quarter median rent numbers. Here is a graph showing
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Whether You Rent or Buy, Either Way You’re Paying a Mortgage!

First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers, Rent vs. Buy
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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, however, 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 in their article, “12 Practical
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2 Major Myths Holding Back Home Buyers

Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers
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Urban Institute recently released a report entitled, “Barriers to Accessing Homeownership,” which revealed that “eighty percent of consumers either are unaware of how much lenders require for a down payment or believe all lenders require a down payment above 5 percent.” Myth #1: “I Need a 20% Down Payment” Buyers often overestimate the down payment funds
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Buying A Home Is More Affordable Than Renting In 54% Of US Counties

First Time Home Buyers, For Buyers, Rent vs. Buy
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According to ATTOM Data Solutions’ 2018 Rental Affordability Report, “buying a median-priced home is more affordable than renting a three-bedroom property in 240 of 447 [or 54% of] U.S. counties analyzed for the report.” 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
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