Wednesday, January 17, 2018

Wondering If You Can Buy Your First Home?

Wondering If You Can Buy Your First Home?
There are many people sitting on the sidelines trying to decide if they should purchase a home or sign a rental lease. Some might wonder if it makes sense to purchase a house before they are married and have a family, others might think they are too young, and still, others might think their current income would never enable them to qualify for a mortgage.
We want to share what the typical first-time homebuyer actually looks like based on the National Association of REALTORS most recent Profile of Home Buyers & Sellers. Here are some interesting revelations on the first-time buyer:
Wondering If You Can Buy Your First Home? | Keeping Current Matters

Bottom Line

You may not be much different than many people who have already purchased their first homes. Meet with a local real estate professional today who can help determine if your dream home is within your grasp.

Source: Keeping Current Matters | The KCM Crew 011618

Monday, January 15, 2018

Thinking Of Selling? Now Is The Perfect Time

Thinking of Selling? Now is the Perfect Time
It is common knowledge that a great number of homes sell during the spring-buying season. For that reason, many homeowners hold off on putting their homes on the market until then. The question is whether or not that will be a good strategy this year.
The other listings that do come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market in the spring as compared to the rest of the year? The National Association of Realtors (NAR) recently revealed the months in which most people listed their homes for sale in 2017. Here is a graphic showing the results:
Thinking of Selling? Now is the Perfect Time | Keeping Current Matters
The three months in the second quarter of the year (represented in red) are consistently the most popular months for sellers to list their homes on the market. Last year, the number of homes available for sale in January was 1,680,000.

That number spiked to 1,970,000 by May!

What does this mean to you?

With the national job situation improving, and mortgage interest rates projected to rise later in the year, buyers are not waiting until the spring; they are out looking for homes right now. If you are looking to sell this year, waiting until the spring to list your home means you will have the greatest competition amongst buyers.

Bottom Line

It may make sense to beat the rush of housing inventory that will enter the market in the spring and list your home today.

Source: Keeping Current Matters | The KCM Crew 011518

Thursday, January 11, 2018

93% Believe Homeownership Is Important In Attaining The American Dream


93% Believe Homeownership Is Important in Attaining the American Dream
Americans continue to believe that homeownership is important in achieving the American Dream. A recent survey by NeighborWorks America reported that:
“Owning a home remains a core element of the American Dream.”
When asked “How important a part of the American dream is owning a home?”
  • 18% of those surveyed said it was the most important part
  • 53% of those surveyed said it was very important
  • 22% of those surveyed said it was somewhat important

Homeownership and Financial Stability

The survey also revealed that 81% of Americans believe that owning a home leads to a family being more financially stable. This feeling was reiterated by Zillow Senior Economist Aaron Terrazas who, in a recent press release, explained:
“After about a two-year slowdown, rent growth is starting to pick back up across the nation…Looking into 2018, rent is expected to continue gaining.
More widespread rent growth could mean home buying demands stay high, as renters who can afford it move away from the unpredictability of rising rentstoward the relative stability of a monthly mortgage payment instead.” (emphasis added)

Bottom Line

Owning a home always has been, and always will be, a crucial part of attaining the American Dream.

Source: Keeping Current Matters | The KCM Crew 011118

Wednesday, January 10, 2018

The Impact Of Tight Inventory On The Housing Market

The Impact of Tight Inventory on the Housing Market
The housing crisis is finally in the rear-view mirror as the real estate market moves down the road to a complete recovery. Home values are up, home sales are up, and distressed sales (foreclosures and short sales) have fallen to their lowest points in years. It seems that the market will continue to strengthen in 2018.
However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout the winter, supply is not keeping up.

Here are the thoughts of a few industry experts on the subject:

National Association of Realtors

“Total housing inventory at the end of November dropped 7.2 percent to 1.67 million existing homes available for sale, and is now 9.7 percent lower than a year ago (1.85 million) and has fallen year-over-year for 30 consecutive months. Unsold inventory is at a 3.4-month supply at the current sales pace, which is down from 4.0 months a year ago.”

Joseph Kirchner, Senior Economist for Realtor.com

“The increases in single-family permits and starts show that builders are planning and starting new construction projects, that’s a good thing because it will help to relieve the shortage of homes on the market.”

Sam Khater, Deputy Chief Economist at CoreLogic

Inventory is tighter than it appears. It’s much lower for entry-level buyers.”

Bottom Line 

If you are thinking of selling, now may be the time. Demand for your house will be strong at a time when there is very little competition. That could lead to a quick sale for a really good price.

Source: Keeping Current Matters | The KCM Crew 010918

Monday, January 8, 2018

Weather Winterizing Moves You Should Be Making Right Now

Weather Winterizing Moves You Should Be Making Right Now
The bomb cyclone that hit the East Coast this week was a good reminder for everyone, regardless of whether your area is accustomed to winter weather (We're talking to you, Northeast and Midwest) or not (Hello, Florida!). There are some easy steps you can take to protect your home from winter wear and tear, even if snow isn't in your forecast, to make it function better and keep it - and you - safe.
Protect your home from frozen pipes
If you already live in an area where hard freezes are a regular occurrence, you probably know how to protect your pipes. For everyone else, it's important to understand what happens when water freezes and how to avoid catastrophes at home. "Water has a unique property in that it expands as it freezes," said the American Red Cross. "This expansion puts tremendous pressure on whatever is containing it, including metal or plastic pipes. No matter the strength of a container, expanding water can cause pipes to break.
A few tips include opening "kitchen and bathroom cabinet doors to allow warmer air to circulate around the plumbing. When the weather is very cold outside, let the cold water drip from the faucet served by exposed pipes. Running water through the pipe - even at a trickle - helps prevent pipes from freezing." You can get more tips on the Red Cross website.
Turn off sprinklers
The last thing you want is a winter wonderland of ice outside your house because you forgot to turn off the sprinklers. With the weather conditions turning on a dime these days, you could very well have warm sunshine on a Tuesday and get a wicked snowstorm on Thursday.
Check your heater
It's not too late to have a tune-up if you haven't had your heating unit checked out this year. Experts recommend an annual check, and if you're overdue, you could be running the risk of your heat clunking out in the middle of a sub-zero storm.
Do a roof check
Get out that ladder (or hire someone who's willing to do the climbing) to make sure your roof is in good shape. Heavy snow and ice from last year or a more recent storm could have compromised some of the shingles, and you want to catch the issue before the roof starts leaking.
Invest a few bucks in some caulk
Air leaks in your home can stress your heating system and jack up your heating bills. A little fix can make a big difference. "If the gaps between siding and window or door frames are bigger than the width of a nickel, you need to reapply exterior caulk. (Check the joints in window and door frames, too.) Silicone caulk is best for exterior use because it won't shrink and it's impervious to the elements," said Kiplinger. "Check window-glazing putty, too (which seals glass into the window frame). Add weatherstripping as needed around doors, making sure you cannot see any daylight from inside your home."
Check for other drafts
"According to the U.S. Department of Energy, drafts can waste 5 to 30 percent of your energy use," said Popular Mechanics. "Start simple and adopt that old Great Depression fixture - the draft snake, which you can easily make yourself. Just place a rolled bath towel under a drafty door."
Clean out your gutters
Even if you had this done before the cold weather arrived, you might want to do a re-check. The "bomb cyclone" was described as a "snow hurricane"; that could have left all kinds of debris in your gutters, just waiting to cause problems next time there's rain or snow.
Turn off outside faucets
"Undrained water in pipes can freeze, which will cause pipes to burst as the ice expands. Start by disconnecting all garden hoses and draining the water that remains in faucets," said Kiplinger. "If you don't have frost-proof faucets (homes more than ten to 15 years old typically do not), turn off the shut-off valve inside your home."
Decrease the amount of time between filter change-outs
"Yes it's easy to forget, but it's important to replace or clean furnace filters once a month during the heating season," said Popular Mechanics. "Dirty filters restrict airflow and increase energy demand. Here's a worry-saving tip: Mark a monthly check on your calendar."
Flip the switch on your ceiling fans
Most ceiling fans have a switch that changes the direction of the blades. This is one of our favorite cold-weather tips because not only can it help make you more comfortable in your home by forcing some of the warm air that collects near the ceiling down into the room, but it can also save you as much as 10 percent on your heating bill!


Source: Realty Times | Jaymi Naciri 010718

Thursday, January 4, 2018

The Benefits Of Homeownership Go Beyond The Financial


The Benefits of Homeownership Go Beyond the Financial
Homeownership is a major part of the American Dream. As evidence of that, 91% of Americans believe that owning a home is either essential (43%) or important (48%) to achieving that “dream.” In a market where some people may be unsure about the benefits and possibilities of buying a home, it is important that we remember this.
Homeownership is NOT just about the money. In fact, some of the major benefits are non-financial. Here are a few of those benefits as per the National Association of Realtors:
  • Consistent findings show that homeownership does make a significant positive impact on educational achievement.
  • Several researchers have found that homeowners tend to be more involved in their communities than renters.
  • Early studies of homeownership and health outcomes found that homeowners and children of homeowners are generally happier and healthier than non-owners, even after controlling for factorssuch as income and education levels that are also associated with positive health outcomes and positively correlated with homeownership.

Bottom Line

Homeownership means something more to people and their families than just the financial considerations.

Source: Keeping Current Matters | The KCM Crew 010318

Wednesday, January 3, 2018

How Rising Prices Will Help You Build Family Wealth In 2018


How Rising Prices Will Help You Build Family Wealth in 2018
Over the next five years, home prices are expected to appreciate on average by 3.35% per year and to grow by 24.34% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.

So, what does this mean for homeowners and their equity position?

As an example, let’s assume a young couple purchases and closes on a $250,000 home this month (January). If we only look at the projected increase in the price of that home, how much equity will they earn over the next 5 years?
How Rising Prices Will Help You Build Family Wealth in 2018 | Keeping Current Matters
Since the experts predict that home prices will increase by 4.2% in 2018, the young homeowners will have gained $10,500 in equity in just one year.
Over a five-year period, their equity will increase by nearly $45,000! This figure does not even take into account their monthly principal mortgage payments. In many cases, home equity is one of the largest portions of a family’s overall net worth.

Bottom Line

Not only is homeownership something to be proud of, but it also offers you and your family the ability to build equity you can borrow against in the future. If you are ready and willing to buy, find out if you are able to today!

Source: Keeping Current Matters | The KCM Crew 010318