Accept

We use cookies in order to save your preferences so we can provide a feature-rich, personalized website experience. We also use functionality from third-party vendors who may add additional cookies of their own (e.g. Analytics, Maps, Chat, etc). Read more about cookies in our Privacy Policy and Terms of Service. If you do not accept our use of Cookies, please do not use the website.

Header Image

Blog Archives: August 2018

The Net Worth of a Homeowner is 44x Greater Than A Renter!

August 31, 2018
Keeping Current Matters
Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. Their latest survey data, covering 2013-2016 was recently released. The study revealed that the median net worth of a homeowner was $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013). These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter. As we’ve ...

Rent or Buy: Either Way You’re Paying A Mortgage!

August 27, 2018
Keeping Current Matters
There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s. As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich”: “While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your ...

Having Trouble Saving Enough for Your Down Payment? Crowdfund It!

August 23, 2018
Keeping Current Matters
You read that right! First-time buyers across the country are getting creative when it comes to saving the necessary down payment to buy a home. Many couples are asking their wedding guests to contribute to their “Down Payment Fund” rather than fulfilling a traditional registry. This is fueled by the fact that many couples live together prior to marriage and already have the necessary items to make a house a home…they just need the house! The average wedding in the United States has 120 guests who give wedding gifts valued, on average, at ...

4 REAL Reasons Why We Buy A Home!

August 21, 2018
Keeping Current Matters
We often talk about why it makes financial sense to buy a home, but more often than not, the emotional reasons are the more powerful or compelling ones. No matter what shape or size your living space is, the concept and feeling of home can mean different things to different people. Whether it’s a certain scent or a favorite chair, the emotional reasons why we choose to buy our own homes are typically more important to us than the financial ones. Between the best neighborhoods and the best school districts, even buyers without children ...

Have You Outgrown Your Starter Home?

August 20, 2018
Keeping Current Matters
For many Americans, buying their first home is their first taste of achieving part of the American Dream. There is a sense of pride that comes along with owning your own home and building your family’s wealth through your monthly mortgage payment. It may seem hard to imagine that the first home you purchased (which made your dreams come true) might not be the home that will allow you to achieve the rest of your dreams. The good news is that it’s ok to admit that your home no longer fits your needs! According to CoreLogic’s latest Home ...

Housing Market: Another Gigantic Difference Between 2008 and 2018

August 17, 2018
Keeping Current Matters
Some are attempting to compare the current housing market to the market leading up to the “boom and bust” that we experienced a decade ago. They look at price appreciation and conclude that we are on a similar trajectory, speeding toward another housing crisis. However, there is a major difference between the two markets. Last decade, while demand was being artificially created by extremely loose lending standards, a tremendous amount of inventory was coming to the market to satisfy that demand. Below is a graph of the inventory of homes ...

Homebuyers Willing to Sacrifice ‘Must-Haves’ in Favor of Good School Districts

August 15, 2018
Keeping Current Matters
It should come as no surprise that buying a home in a good school district is important to homebuyers. According to a report from Realtor.com, 86% of 18-34 year-olds and 84% of those aged 35-54 indicated that their home search areas were defined by school district boundaries. What is surprising, however, is that 78% of recent homebuyers sacrificed features from their “must-have” lists in order to find homes within their dream school districts. The top feature sacrificed was a garage at 19%, followed closely by a large backyard, an updated ...

The Wave of Millennial Homebuyers Continues to Swell

August 13, 2018
Keeping Current Matters
Many have written about the millennial generation and whether or not they, as a whole, believe in homeownership as a part of attaining their American Dream. Comparatively speaking, millennials have taken longer to obtain traditional milestones (like getting married, having kids and buying a home) than generations before them, but that does not mean that they do not aspire to still achieve those things. For older millennials (aged 25-34) who have established themselves in their career and are starting to build their families, homeownership ...

Supply & Demand Will Determine Future Home Values

August 10, 2018
Keeping Current Matters
Will home values continue to appreciate throughout 2018? The answer is simple: YES! – as long as there are more purchasers in the market than there are available homes for them to buy. This is known as the theory of “supply and demand,” which is defined as: “The amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price.” When demand exceeds supply, prices go up. Every month this year, demand (buyer traffic) has increased as compared to last year and for the first ...

7 Factors to Consider When Choosing A Home to Retire In

August 09, 2018
Keeping Current Matters
As more and more baby boomers enter retirement age, the question of whether or not to sell their homes and move will become a hot topic. In today’s housing market climate, with low available inventory in the starter and trade-up home categories, it makes sense to evaluate your home’s ability to adapt to your needs in retirement. According to the National Association of Exclusive Buyers Agents (NAEBA), there are 7 factors that you should consider when choosing your retirement home. “It may be easy enough to purchase your home today but ...

Moving up Is MORE Affordable Now Than Almost Any Other Time in 40 Years

August 08, 2018
Keeping Current Matters
If you are considering selling your current home, to either move up to a larger home or into a home in an area that better suits your current family needs, great news was just revealed. Last week, Trulia posted a blog, Not Your Father’s Housing Market, which examined home affordability over the last 40+ years (1975-2016). Their research revealed that: “Nationally, homes are just about the most affordable they’ve been in the last 40 years… the median household could afford a home 1.5 times more expensive than the median home price. In ...

99% of Experts Agree: Home Prices Will Increase

August 06, 2018
Keeping Current Matters
Some believe that the combined effects of the new tax code and rising mortgage rates will have an adverse impact on residential real estate prices in 2018. However, the clear majority of recently surveyed housing experts believe that home values will continue to rise this year. Each quarter, Pulsenomics surveys a nationwide panel of economists, real estate experts and investment & market strategists. Those surveyed include experts such as: Daniel Bachman, Senior Manager, U.S. Economics at Deloitte Services, LP Kathy Bostjancic, Head ...

Competition is Coming, Are You Thinking of Selling Your Home?

August 01, 2018
Keeping Current Matters
The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the number of these permits were up 7.4% over last year. More inventory means more options. Lawrence Yun, NAR’s Chief Economist, explained this is good news for the housing market – especially for those looking to buy: “This rise in single-family housing construction ...

<  Blog Home

2018 Archives

Jan Feb Mar Apr
May Jun Jul Aug
Sep Oct Nov Dec

2017 Archives

Jan Feb Mar Apr
May Jun Jul Aug
Sep Oct Nov Dec

2016 Archives

Jan Feb Mar Apr
May Jun Jul Aug
Sep Oct Nov Dec