First Time Home Buyers Archives - Page 6 of 11 - Joe Fernald

There is a lot of discussion about the current state of housing affordability for both first-time and move-up buyers, and much of the narrative is tarnished with a negative slant. However, the truth is that housing affordability is better today than at almost any time in our history. The naysayers are correct in the fact

Low Interest Rates Have a High Impact on Your Purchasing Power

November 28, 2017

First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers

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According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.92%, which is still near record lows in comparison to recent history! The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power. Purchasing power, simply put, is

The Cost of NOT Owning Your Home

November 27, 2017

Buying Myths, First Time Home Buyers, For Buyers, Move-Up Buyers, Rent vs. Buy

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Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed. Zillow recently reported that: “In reality, buying or renting a home is an intensely personal decision,

Bubble Alert! Is it Getting Too Easy to Get a Mortgage?

November 23, 2017

Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers

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There is little doubt that it is easier to get a home mortgage today than it was last year. The Mortgage Credit Availability Index (MCAI), published by the Mortgage Bankers Association, shows that mortgage credit has become more available in each of the last several years. In fact, in just the last year: More buyers

Top 4 Home Renovations for Maximum ROI [INFOGRAPHIC]

November 18, 2017

First Time Home Buyers, For Buyers, For Sellers, Infographics, Move-Up Buyers

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Some Highlights: Whether you are selling your home, just purchased your first home, or are a homeowner planning to stay put for a while, there is value in knowing which home improvement projects will net you the most “Return On Investment” (ROI). While big projects like adding a bathroom or a complete remodel of a

Your Friends Are Crazy Wrong If They’re Telling You Not to Buy

November 17, 2017

Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers

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The current narrative is that home prices have risen so much so that it is no longer a smart idea to purchase a home. Your family and friends might suggest that buying a home right now (whether a first-time home or a move-up home) makes absolutely no sense from an affordability standpoint. They are wrong!

Feeling ‘Stuck in Place’? You Aren’t Alone… And There’s Hope!

November 16, 2017

First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers

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Whether you are a renter who is searching for your dream home or a homeowner who feels like your only option is to renovate, you have at least one thing in common: feeling stuck in place. According to data from the National Association of Realtors’ Profile of Home Buyers & Sellers, the average amount of

Mortgage Interest Rates Are Going Up… Should I Wait to Buy?

November 15, 2017

First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers

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Mortgage interest rates, as reported by Freddie Mac, have increased over the last several weeks. Freddie Mac, along with Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors, is calling for mortgage rates to continue to rise over the next four quarters. This has caused some purchasers to lament the fact that they may no longer be able to get a

Veterans Affairs Loans by the Numbers [INFOGRAPHIC]

November 11, 2017

First Time Home Buyers, For Buyers, Infographics, Move-Up Buyers

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Some Highlights: Since the creation of the VA Home Loans Program, 22 million veterans have been able to achieve the American Dream of homeownership. So far in 2017, $188 billion has been loaned to veterans and their families through the program. VA Purchase Loans are on the rise in 46 out of 50 states and

A Housing Bubble? Industry Experts Say NO!

November 9, 2017

First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Pricing

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With residential home prices continuing to appreciate at levels above historic norms, some are questioning if we are heading toward another housing bubble (and subsequent burst) like the one we experienced in 2006-2008. Recently, five housing experts weighed in on the question. Rick Sharga, Executive VP at Ten-X: “We’re definitely not in a bubble.” “We