Over the last few years, many sellers have been hesitant to put their houses on the market because they terrifying not being able to find another home to buy. We’ve reported on inventory shortages in the past, plus it’s been a constant concern just for potential buyers throughout recent years. New research shows the inventory concern can be starting to decrease among...
For Buyers
More than 10% of all residential homes are purchased by investors, and that number continues to rise. Who are these investors? Many have got speculated that the large institutional conglomerates such as Blackstone, American Homes four Rent, and Colony Starwood rule investor purchases. However , a special survey on investor home buying by CoreLogic , Don’t Call it a...
Questions continue to come up about where home prices may head throughout the rest of this year, and also where they may be going over the few years beyond. We have gathered current data from the industry’s most reliable sources to help answer these questions: The Home Price Expectation Survey – A study of over 100 market experts, real estate experts, and...
Some Highlights: According to the US Census Bureau, “millennials” are defined as 18-36-year-olds. According to NAR’s latest Profile of Home Customers & Sellers , the median age of all first-time home buyers can be 32. More and more “old millennials” (25-36) are realizing that homeownership is within their...
The Federal Reserve Bank (The Fed) lately released their 2019 Survey of Consumer Expectations Casing Survey . The survey documented that 65% of Americans think homeownership is a good financial investment. Given that 2014, the percentage has increased by over nine percent. The Fed’s survey also showed that when the results are broken down by age, training,...
Owning a home provides great financial benefits. In a recent research paper, Homeownership as well as the American Dream , Laurie H. Goodman and Christopher Mayer from the Urban Land Institute explained: “Homeownership appears to help borrowers accumulate housing plus nonhousing wealth in a variety of ways, with taxes advantages, greater financial...
Since June of a year ago, we have seen an increase in the inventory of homes for sale month per month. Each spring and summer, the inventory increases because people want to market their home. For those with children, they may want to be in their new home for that beginning of the school year. If you are one of those retailers, you may find these 4 tips helpful in getting...
Homes priced at the top 25% of the price range for any particular area of the country are considered “premium homes. ” In today’s real estate market, there are deals to be had at the higher end! This is great news for homeowners attempting to upgrade from their current house. Much of the particular demand for housing over the past couple of years has come from...
Some Highlights: If you are thinking of buying a home, may very well not know where to start. Here is a simple list of 10 steps that you will go through to purchase a home. Make sure to ask your agent for details about each step and what else may be required in your area! You might also enjoy reading... Oliver and...
The housing turmoil of the last decade was partly caused by unhealthy levels of mortgage financial debt. Homeowners were using their homes as ATMs by refinancing and swapping their equity for cash. When prices started to fall, many homeowners found themselves in a negative equity circumstance (where their mortgage was greater than the value of their home). As a result, they walked...
Rising home prices in conjunction with a lack of inventory in today’s market may cause some homeowners to consider trying to sell their home on their own (known in the industry as a Fsbo ). However , a FSBO might not be a good idea for the vast majority of sellers. The top 5 reasons are given below: 1 ) Online Strategy for Prospective Purchasers...
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 were...
So you made an offer and it was accepted. Now, your next task is to possess the home inspected prior to closing. Realtors oftentimes make your offer dependant on a clean home inspection. This backup allows you to renegotiate the price you paid for the home, ask the sellers to hide repairs, or in some cases, to walk away. Your agent can advise you in the best course of action once...
Some Highlights: Real estate offers outranked stocks/mutual funds, gold, savings accounts/CDs, and bonds as the best long-term investment among Americans for the last 6 years. Stock owners are more positive about real estate than stocks and shares as an investment. Of the 4 listed, real estate is the only investment you can also live in!...
Here are 5 compelling reasons listing your home for sale this summer makes sense. 1 . Demand Is Strong The latest Buyer Traffic Index from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, prepared, and able to purchase… and are on the market right now! More...
On this day and age of being able to shop for anything at all anywhere, it is really important to know what you’re looking for when you start your home search. If you’ve been thinking about buying a home of your own for quite a while now, you’ve probably come up with a list of things that you’d LOVE to have within your new home. Many new homebuyers imagine about the amenities...
When buying a home today, why is there so much paperwork mandated by the lenders for a mortgage loan application? It seems like they need to know everything about you. Furthermore, it requires three separate sources to validate each and every entry on the application form. Many buyers are being told by friends and family that the process was a hundred times easier when they bought their home ten...
Whether it is your first time or your fifth, it is always important to know all the facts when it comes to buying a home. With the large number of mortgage programs available that allow buyers to purchase homes with down payments below 20%, you can never have too much information about Private Mortgage Insurance (PMI). What is PMI? Freddie Mac defines PMI as: “An insurance policy that...
In today’s fast-paced world where answers are a Google search away, there are some who may wonder what the benefits of hiring a real estate professional to help them in their home search are. The truth is, the addition of more information causes more confusion. Shows like Property Brothers, Fixer Upper, and dozens more on HGTV have given many a false sense of what it’s like to buy and...
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 Listings, 70% of single renters are more...
Some Highlights: Buyer demand continues to outpace the supply of homes for sale. This means that buyers are often competing with one another for the few listings that are available. Housing inventory is still under the 6-month supply needed to sustain a normal housing market. Now may be the time for you and your family to move on and start living the life you desire! You might also enjoy reading......
In many markets across the country, the number of buyers searching for their dream homes outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show that you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search. Even if you are not in an incredibly...
Our orlando Property Management Team at Morgan Property Solutions recently reviewed the Modern Homebuyer Survey from ValueInsured, 58 percent of homeowners think there will be a “housing bubble and price correction” within the next 2 years. After what transpired ten years ago during the Real Estate recession, understand the concerns Americans have about the current increase in home prices....
Orlando property manager Devinee Overton-Morgan with Morgan Property Solutions discusses owing a home versus renting. No matter if you rent or purchase a home, you end up end up paying towards the cost of the home. Depending on your situation there may be advantages for one option over the other. Mortgages are usually amortized so that each payment reduces the principal amount owed, so that the loan...
As a REALTOR and property manager in Orlando, Devinee Overton-Morgan has dealt with many types of clients from the first time homebuyer to the savvy real estate investor. The key to helping people, she says, is finding out their why and then guiding them along the right path. During all this, putting the client first is vital. When it comes to buying a home, whether you are a rookie homebuyer or...
