The video on this site points out some important questions to ask when buying a home – some of which may reduce your costs! Don’t forget to calculate insurance into your housing budget.
http://www2.iii.org/video/buying-a-home.html#.TueZn15GYsw.gmail
Posts Tagged ‘real estate’
“Zillow says my house is worth….” is one of the most frequent comments I hear when it comes to real estate. This Wall Street Journal article gives a solid analysis of where Zillow and similar sites are both strong and weak.
http://online.wsj.com/article/SB10001424052970204554204577026131448329006.html?
We wanted to share this article that mentions 6 good reasons to buy a home now. They may not all apply to your current situation, so take a look at the details in this Kiplinger article.
1. Prices have nearly hit bottom.
2. Houses are affordable again.
3. Mortgage rates won’t go any lower.
4. It’s a buyer’s market.
5. You may find a distressed property.
6. Homeownership is still attractive.
http://www.kiplinger.com/magazine/archives/six-reasons-to-buy-a-home-now.html
As pointed out in this article, the American dream isn’t dead. The desire to own a home coupled with affordability are excellent reasons to purchase real estate.
http://agbeat.com/real-estate-news-events/top-reasons-cited-for-purchasing-real-estate-new-report/
A home buyer purchasing a typical American home at the prevailing average mortgage rate today would have a mortgage payment that is not much different from what a home buyer would have faced 30 years ago.
In 1981, home prices were much lower but mortgage rates were reaching 18 percent. Thanks to record low mortgage rates, the monthly payment obligations have been greatly reduced.
Some bright spots for new construction are appearing on the horizon according to Lawrence Yun, Chief Economist and Senior Vice President of Research for the National Association of REALTORS®.
Read the information in this link about the “faster return to healthier markets” that Mr. Yun sees ahead of us.
http://economistsoutlook.blogs.realtor.org/2011/09/15/lowest-housing-starts-since-world-war-ii/
Ever wonder how the “typical buyer” comes up with their down payment and how this has changed over the past 5 years?
One interesting finding in this “Profile of Home Buyers” survey by the National Association of Realtors, is that there was a 16% increase in the use of their “savings” as the source of downpayment.
It will be interesting to see how 2011 compares when that data is compiled! Read this post below for more insight.
And you should know that 13,780 homes will sell today and 13,780 homes will sell tomorrow. What are these numbers?
Well, according to the National Association of Realtors’ (NAR) most recent housing report, this number represents the average number of homes that are being sold EVERY DAY. Pretty powerful if you look at the numbers.
http://kcmblog.com/2011/09/26/13780-homes-sold-yesterday/
Questions we often get from both buyers and sellers center around the issue of permits.
It may be an owner who is trying to sell their home and work has been completed without permits, or a potential buyer who is faced with a home they really like but it lacks some permits.
In an ideal world, all major improvements would have permits. Realistically, it will come down to a personal decision. Please let us know if we can be of help on this issue and read this article for further information.
http://realtormag.realtor.org/home-and-design/feature/article/2011/09/remodeling-don-t-forget-permit
Even with the difficulties many Americans are facing in today’s economy, I find it interesting that the desire for home ownership has increased.
72% of renters surveyed said owning a home is a “top priority for their future”- up about 9% compared to 2010. I would love to hear your thoughts on how you view home ownership!
Have your views changed over the past 2-3 years?
Trulia: Chart
Zillow: Recently Sold Homes
Zillow: Mortgage Rate Chart
Zillow: Loan Refinance Qualification
