Single Women make up the 2nd Largest Home Buying group

According to the National Association of Realtors’ (NAR) 2015 Profile of Home Buyers and Sellers, single women made up 18% of all first-time homebuyers last year, second only to married couples who made up 54% of total buyers. Whether they are young, single and no longer want to rent, or … [Read more...]

Obstacles to Homeownership: Perceived or Real?

Yesterday, we discussed the belief Americans have in homeownership and their desire to partake in this piece of the American Dream. We also discussed some of the obstacles preventing them from attaining that goal. However, studies have shown that that many of the obstacles mentioned are perceived, … [Read more...]

Are the Kids Finally Moving Out?

During the recession, many young adults graduating from college were forced to move back in with their parents. This caused new household formations to drop dramatically from the long term average of 1.2 million formations annually to half that number. However, this may be the year this turns back … [Read more...]

Starter Homes May Be Coming Back, After All

Good news for first-time buyers: more starter homes are on the way. A recent analysis by BUILDER online shows the number of homebuilders offering entry-level housing rose 25 percent last year compared to the year prior. Read more: Young Buyers Face Investor Competition Since the recession, … [Read more...]

The Top 5 Reasons You Should Not For Sale By Owner

In today's market, with homes selling quickly and prices rising, some homeowners might consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons this might not be a good idea for the vast majority of sellers. Here are five of … [Read more...]

Bank of America Rolls Out 3% Loans

Bank of America announced a new loan program to help low- and moderate- income borrowers qualify for a mortgage with down payments as low as 3 percent of the purchase price. The loans have financing available up to $417,000. Eligible borrowers must not earn more than the median income for the … [Read more...]

Mortgage Rates Again at Historic Lows

Just two weeks ago, we posted an article discussing where mortgage interest rates may be heading over the next twelve months. We quoted projections from Fannie Mae, Freddie Mac, the Mortgage Bankers’ Association and the National Association of Realtors. Each predicted that rates would begin to … [Read more...]

Homeowner’s Net Worth is 45x Greater Than a Renter’s

Every three years the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. … [Read more...]

Don’t let Rising Rents Trap you

There are many benefits to homeownership. One of the top ones is being able to protect yourself from rising rents and lock in your housing cost for the life of your mortgage. Don’t Become Trapped Jonathan Smoke, Chief Economist at realtor.com recently reported on what he calls a “Rental … [Read more...]

Baby Boomers Blamed for Clog in Housing

Some economists say the baby boomers aren’t selling their homes like previous generations did and not downsizing fast enough, which is leading to shortages of homes for sale and rising prices. Baby boomers are “clogging up the whole chain of home sales,” says Sean Becketti, chief economist … [Read more...]