Overall, it seems that 2016 was a pretty good year for housing. National average prices continued to rise, mortgage rates remained historically low, and there were clear indications that millennials, a generation which some feared would never buy homes, were beginning to enter the housing market.
In many ways 2016 was an extraordinary and, for some, agonizing 12 months. The housing market was certainly not exempt from the year’s highs and lows. Early in the year, experts anticipated an uptick in building activity. Instead, builders were still not producing enough homes to match demand. Meanwhile, home prices appreciated well above expectations and mortgage rates flirted [...]
Renting a home is a great alternative for those who are new to an area and are not quite sure where they want to plant their roots. It’s also the first step towards becoming a homeowner while getting one’s finances in order. But what happens when you end up falling in love with the property you are renting? Approaching your landlord about buying the current property may seem intimidating but here are some ways to guide you through.
Have a pre-approval ready to go: This is pertinent towards any home you are interested in purchasing. However, this shows your landlord you have given this some thought and you are serious about buying from them. It also shows that you [...]
2017 is already shaping up to be a hot market when it comes to real estate! Inventory is low and the buyer demand is high. When it comes to the right season to list your home, there really is no right or wrong answer. Sure, the springtime seems to be the “right” time, but according to Redfin, there was only marginal data supporting this thought process. When it comes to life events, real estate doesn’t wait. Job relocation, divorce, death, birth, and marriage do not wait for any season. If you find yourself in a situation where you need or want to list your house and it is not quite spring, here a few things to consider:Buyers are motivated
Buyers are out [...]
You have finally found the house you want to make an offer on. However, there is a catch: showings don’t begin until Thursday and offers will be presented on Monday at noon after the open house on Sunday. You can assume that there will be multiple offers presented, but you know you must have this house. With the spring market, just around the corner, it’s important for buyers to be informed on the fact that bidding wars may ensue. Here’s how to be prepared…Have your pre-approval letter ready.
This is where having a great lender will come into play. I would have your pre-approval letter in hand and ready to go. Don’t wait until the day you are [...]
Are you thinking about taking on a renovation project? Renovating a space in your home, or perhaps a whole house can be an exciting but challenging task. There are many factors to consider when deciding how to proceed: the scope of the project, timelines, and of course – the budget. An important aspect of approaching any project is to be flexible. With any renovation or home improvement, there’s a chance something could go wrong, cost more, or take longer than expected. Leave some wiggle room in your initial budget projections to account for situations that may come up!
You should also take into account which projects will yield the greatest return on your [...]
Cities are energetic and diverse cultural centers all across the world. Living in the city may not be for everyone, but there are certainly some universal observations and benefits of doing so. What makes city living so exciting and convenient? Here are just a few common reasons.Culture
Cities are vibrant, thriving centers of culture that offer a wealth of opportunities to engage in and experience the local community. You’ll find a ton of great options to choose from: restaurants, art galleries, museums, theaters, concert venues, clubs, festivals, parks, etc. There’s certainly no shortage of activities that can match your personal interests or hobbies and allow [...]
While it may be less expensive to initially rent rather than purchase; explain to friend, family member, or colleague that building equity in a home outweighs the money they save by avoiding homeownership maintenance. A rental deposit may be less than a down payment but statistically, a renter pays more on a monthly basis than if you were to own. Equity pays off (and pays out) in the long term and helps them reach their long-term housing goals. According to an article from risingrealty.com using a survey of consumer finances, the average homeowner who has an annual income of $30,000 to $49,999 has a net worth of $126,500 compared to an [...]