Applying For A Mortgage: Why So Much Paperwork?

We are often asked why there is so much paperwork mandated by the bank for a mortgage loan application when buying a home today. It seems that the bank needs to know everything about us and requires three separate sources to validate each and every entry on the application form. Many buyers are … [Read more...]

2016: Homeowner’s Net Worth Will Be 45x Greater Than a Renter

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...]

A Homeowner’s Net Worth is 36x Greater Than A Renter!

Let #bobwert #remax Help You Find #therighthome Over the last six years, homeownership has lost some of its allure as a financial investment. As homeowners suffered through the housing bust, more and more began to question whether owning a home was truly a good way to build wealth. The Federal … [Read more...]

Buying a Home is 38% Less Expensive than Renting!

Let #bobwert #remax Help You Find #therighthome In Trulia’s 2014 Rent vs. Buy Report, they explained that homeownership remains cheaper than renting throughout the 100 largest metro areas in the United States; ranging from an average of 5% in Honolulu, all the way to 66% in Detroit, and 38% … [Read more...]

Mortgage Rates Move Lower Again

Fixed-rate mortgages inched lower again this week, lowering borrowing costs for home shoppers and refinancers. Freddie Mac reports the following national averages with mortgage rates for the week ending Jan. 30: 30-year fixed-rate mortgages averaged 4.32 percent, with an average 0.7 point, … [Read more...]

December Existing-Home Sales Rise, 2013 Strongest in Seven Years

Good news for Housing Existing-home sales edged up in December, sales for all of 2013 were the highest since 2006, and median prices maintained strong growth, according to the National Association of Realtors®. Total existing-home sales, which are completed transactions that include … [Read more...]

Sales Prices – Get it right the first time

Are there undesirable effects from changing the listing price of a home? Findings seem to indicate that, on average, properties that undergo a listing price change take longer to sell and experience pricing discounts greater than comparable homes. Likewise, homes with price changes are found to go … [Read more...]

Flood Insurance Rates about to Skyrocket?

Approximately 5.6 million property owners in over 20,000 communities across the country rely on the National Flood Insurance Program (NFIP) for flood insurance. A new law, the Biggert-Waters Flood Insurance Reform Act of 2012, will force major changes in the NFIP.Despite efforts by some on Capitol … [Read more...]

Financing affects an offer’s consideration

The majority of buyers don’t have enough cash available to buy a home, so they need to obtain a mortgage financing to purchase a home. Most buyers make their purchases contingent upon obtaining mortgages, so the seller is informed of a buyer’s financing plans in order to consider the merits of … [Read more...]

Harvard: 5 Financial Reasons to Buy a Home

Eric Belsky is Managing Director of the Joint Center of Housing Studies at Harvard University. He also currently serves on the editorial board of the Journal of Housing Research and Housing Policy Debate. This year he released a new paper on homeownership - The Dream Lives On: the Future of … [Read more...]