August 7, 2017 0 Comments

How Long Do Most Families Stay in Their Home?

The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of the data points that has changed dramatically is the median tenure of a family in a home, meaning how long a family stays in a home prior to moving. As the graph below shows, for over twenty years (1985-2008), the median tenure averaged exactly six years. However, since 2008, that average is almost nine years – an increase of almost 50%. Why the dramatic increase? The reasons for this change are plentiful! The fall in home prices during the housing crisis left many homeowners

August 3, 2017 0 Comments

Millennial Homeownership Rate Increases

Recent headlines exclaimed the homeownership rate, as reported by the Census Bureau, rose again in the second quarter of 2017. What didn’t get much attention in the reports is that the homeownership rate for American households under the age of 35 increased a full percentage point from last quarter’s 34.3% to 35.3%. Millennials proved to have the highest increase of any age group. This came as a surprise to some considering Millennials have come to be known as the “renter” generation. However, a new study by First American, 6 Trends Poised to Reshape Homeownership Demand, revealed reasons why homeownership numbers

August 2, 2017 0 Comments

Do Your Future Plans Include a Move? What’s Stopping You from Listing Now?

Are you an empty-nester? Do you want to retire where you are, or does a vacation destination sound more your style? Are you close to retirement and not ready to move yet, but living in a home that is too big in size and maintenance needs? How can you line up your current needs with your goals and dreams for the future? The answer for many might be the equity you have in your house. According to the latest Equity Report from CoreLogic, the average homeowner in the United States gained $14,000 in equity over the course of the last

July 23, 2017 0 Comments

Top 5 Foreign Buyers- China, Canada, UK, Mexico & India

One market’s loss, is another market’s gain. Countries like Canada, the United Kingdom, Australia, and New Zealand are starting to see foreign buying tapering. However, the United States is starting to see a surge in foreign buying according to the National Association of Realtors (NAR). These numbers are showing explosive growth in both the transactions, and dollar volume. Click here to read more

July 23, 2017 0 Comments

Foreign buyers are snapping up more American real estate than ever

One market’s loss, is another market’s gain. Countries like Canada, the United Kingdom, Australia, and New Zealand are starting to see foreign buying tapering. However, the United States is starting to see a surge in foreign buying according to the National Association of Realtors (NAR). These numbers are showing explosive growth in both the transactions, and dollar volume. Explosive Growth Across The United States Foreign buying is experiencing growth across the United States according to NAR. In the 12 month period from April 2016 – March 2017, there were 284,455 homes bought by foreign buyers. This represents 32.37% growth from the previous

July 21, 2017 0 Comments

Singles Are Falling for Their Dream Home First

Some Highlights: According to NAR’s Profile of Home Buyers & Sellers, the share of recent homebuyers who were single at the time of purchase held steady at 24% last year. The percentage of first-time buyers who were single females rose to 17% (up from 16%), as the share of single men dropped from 11% to 8%. The primary reason for buying a home amongst singles was the desire to own a home of their own (38% for women and 37% for men).

July 20, 2017 0 Comments

84% of Americans Believe Buying a Home is a Good Financials Decision

According to the National Association of Realtors®’ 2017 National Housing Pulse Survey, 84% of Americans now believe that purchasing a home is a good financial decision. This is the highest percentage since 2007 – before the housing crisis. Those surveyed pointed out five major reasons why they believe homeownership is a good financial decision: 1. Homeownership means the money you spend on housing goes towards building equity, rather than to a landlord 2. Homeownership creates the opportunity to pay off a mortgage and own your home by the time you retire 3. Homeownership is an investment opportunity that builds long-term

July 19, 2017 0 Comments

Buyers & Tenants – It won’t cost you any more to have your own agent represent you

You’ve probably heard it before, but here it is defined: “Co-broking” occurs when two agents work together—one representing the buyer, and the other for the seller (or, in the case of a rental, the landlord)—to complete (i.e. co-broker) a deal. The commission is split between the two agents. Click Here to Read More

July 19, 2017 0 Comments

Do you need a co-signer for your rental? Here are some options you should know in advance…

If, like so many of us, you don’t happen to have a stellar credit report and earn an annual salary that’s 40 to 45 times your monthly rent—two criteria that most NYC landlords require prospective renters to meet—you may have a tough time qualifying for an apartment in the city. Click Here to Read More

July 19, 2017 0 Comments

3 Tips to Succeed in Today’s Real Estate Market

In today’s highly competitive real estate market, where inventory levels are not keeping up with the constant stream of buyer demand, there are steps you can take to ensure you are most prepared for success when buying a home. The 3 tips we are going to expand on today come from a recent blog by Trulia entitled, The Skinny on Skinny Inventory. 1. Be Prepared “Homebuyers should talk with a lender, real estate agent, and a home inspector BEFORE finding a home to make an offer on.” Being intentional, pre-approved, and prepared will set you up for the accelerated time

June 27, 2017 0 Comments

Pre-Approval Should Always Be Your First Step

In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show 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 in a market that is not as competitive, knowing your budget will give you the confidence of knowing if your dream home is within your reach. Freddie Mac lays out the advantages of pre-approval

June 13, 2017 0 Comments

4 Reasons to Buy This Summer!

Here are four great reasons to consider buying a home today, instead of waiting. 1. Prices Will Continue to Rise CoreLogic’s latest Home Price Index reports that home prices have appreciated by 7.1% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.9% over the next year. The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

June 8, 2017 1 Comment

If Your Home Hasn’t Sold Yet… Definitely Check the Price!

The residential housing market has been hot. Home sales have bounced back solidly and are now at their fourth highest pace over the past year. Demand has remained strong ­throughout spring as many real estate professionals are reporting bidding wars with many homes selling above listing price. What about your house? If your house hasn’t sold, it could be the price. If your home is on the market and you are not receiving any offers, look at your price. Pricing your home just 10% above market value dramatically cuts the number of prosp­­ective buyers that will even see your house.

May 26, 2017 0 Comments

Why Americans Consider Moving to Another State?

Some Highlights: In a recent Harris Poll, Americans listed “change in climate/weather” as their top reason for wanting to relocate. 41% would move for a “better job opportunity.” Being closer to loved ones filled out 3 of the top 6 reasons why Americans move.