A Great Way to Increase Your Family’s Net Worth

Posted Posted in First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Rent vs. Buy

Every three years, the Federal Reserve conducts its Survey of Consumer Finances. Data is collected across all economic and social groups. The latest survey data covers 2013-2016. The study revealed that the median net worth of a homeowner is $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased […]

Millionaire to Millennials: The Costly Mistake of Not Buying Now

Posted Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, For Sellers, Millennials, Move-Up Buyers, Rent vs. Buy

On his personal website, self-made millionaire David Bach makes a striking statement:  “Not prioritizing homeownership is the single biggest mistake millennials are making.”  He further stated, “Buying a home is an escalator to wealth.” Bach explains: “Young adults in particular aren’t hopping on this escalator, and it’s a costly mistake…If millennials don’t buy a home, their chances […]

Is Renting Right for Me?

Posted Posted in Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Rent vs. Buy

If you’re currently renting and have dreams of owning your own home, it may be a good time to think about your next move. With rent costs rising annually and many helpful down payment assistance programs available, homeownership may be closer than you realize. According to the 2018 Bank of America Homebuyer Insights Report, 74% of […]

5 Powerful Reasons to Own Instead of Rent

Posted Posted in Down Payments, First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers, Rent vs. Buy

Owning a home has great financial benefits. In a recent research paper, Homeownership and the American Dream, Laurie S. Goodman and Christopher Mayer of the Urban Land Institute explained: “Homeownership appears to help borrowers accumulate housing and nonhousing wealth in a variety of ways, with tax advantages, greater financial flexibility due to secured borrowing, built-in […]

Millennials Are Increasing the Demand for Condominiums

Posted Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Millennials, Move-Up Buyers, Rent vs. Buy

When deciding to buy a home, people are presented with many different options. The type of home you buy depends on your needs, budget, and in many cases, the desired maintenance level. For many millennials, their choice has been buying a condominium! According to CoreLogic, “Last year about 43% of all condo home-purchase mortgage applications […]

Young First-Time Buyers Are Saving for Their Dream Homes

Posted Posted in Demographics, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Millennials, Move-Up Buyers, Rent vs. Buy

Young buyers (Millennials & Gen Z) have waited longer than previous generations to enter the housing market for their first home. However, this hasn’t stopped them from dreaming about the home they will eventually buy. Many spend hours searching listings and building Pinterest boards of their favorite home features. According to a survey from Open […]

What is the Cost of Waiting Until Next Year to Buy? [INFOGRAPHIC]

Posted Posted in First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Infographics, Interest Rates, Move-Up Buyers, Rent vs. Buy

Some Highlights: The “cost of waiting to buy” is defined as the additional funds necessary to buy a home if prices & interest rates were to increase over a period of time. Freddie Mac forecasts interest rates to rise to 4.5% by the Q4 2020. CoreLogic predicts home prices to appreciate by 4.8% over the next 12 […]