First Time Home Buyers Archives - Page 8 of 11 - Joe Fernald

In the latest Rent vs. Buy Report from Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States. The updated numbers show that the range is an average of 3.5% less expensive in San Jose (CA), all the way up

4 Reasons to Sell This Fall [INFOGRAPHIC]

October 13, 2017

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

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Some Highlights: Buyer demand continues to outpace the supply of homes for sale! Buyers are often competing with one another for the listings that are available! Housing inventory is still under the 6-month supply that is needed for a normal housing market. Perhaps the time has come for you and your family to move on

Net Worth of Homeowners 44X Greater than Renters

October 12, 2017

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

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Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey data, covering 2013-2016 was released two weeks ago. The study revealed that the 2016 median net worth of homeowners was $231,400 – a 15% increase since 2013. At the same time, the median net

Builder Offering to Pay Off Student Loans for Buyers

October 11, 2017

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

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Millennials are on track to become the most educated generation in history. This means they are also the generation with the most student debt. Depending on the type of degree earned, as well as the prestige of the institution attended, there are some millennials who graduate college with what equates to a mortgage payment. For

Millionaire to Millennials: Buy a Home Now!

October 10, 2017

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

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In a CNBC article, self-made millionaire David Bach explained that “the single biggest mistake millennials are making” is not purchasing a home because buying real estate is “an escalator to wealth.” Bach went on to explain: “If millennials don’t buy a home, their chances of actually having any wealth in this country are little to none. The average homeowner to

No… You Do Not Need 20% Down to Buy NOW!

October 9, 2017

Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers

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The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. The results of the survey show that non-homeowners cite the main reason for not currently owning a home, as not

The Mortgage Process: What You Need to Know [INFOGRAPHIC]

October 6, 2017

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

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Some Highlights: Many buyers are purchasing a home with a down payment as little as 3%. You may already qualify for a loan, even if you don’t have perfect credit. Take advantage of the knowledge of your local professionals who are there to help you determine how much you can afford.

A Tale of Two Markets: A 6-Month Update

October 4, 2017

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

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Six months ago, we reported that the mismatch between the type of inventory of homes for sale and the demand of buyers in the US was causing the formation of two markets. In the starter and trade-up home categories, there were significantly more buyers than there were homes for sale, causing a seller’s market. In

You Don’t Want to Hear This from Your Listing Agent

October 3, 2017

First Time Home Buyers, For Buyers, For Sellers

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You’ve decided to sell your house. You begin to interview potential real estate agents to help you through the process. You need someone you trust enough to: Set the market value on possibly the largest asset your family owns (your home) Set the time schedule for the successful liquidation of that asset Set the fee

Which Homes Have Increased in Value the Most?

October 2, 2017

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

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Home values have risen dramatically over the last twelve months. The latest Existing Home Sales Report from the National Association of Realtors puts the annual increase in the median existing-home price at 5.6%. CoreLogic, in their most recent Home Price Index Report, revealed that national home prices have increased by 6.7% year-over-year. CoreLogic broke appreciation down ever further into four price