Move-Up Buyers Archives - Page 12 of 12 - Joe Fernald

Some Highlights: Interest rates are still below historic numbers. 88% of property managers raised their rent in the last 12 months! The credit score requirements for mortgage approval continue to fall.

The 5 Greatest Benefits of Homeownership

July 13, 2017

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

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Recently, Freddie Mac reported on the benefits of homeownership. According to their report, here are the five benefits that “should be at the top of everyone’s list.” Homeownership can help you build equity over time. Your monthly payments will remain stable. You may have some tax benefits. You can take pride in ownership. Homeownership improves

The High Impact of Low Interest Rates on Your Purchasing Power

July 11, 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 3.96%, 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,

Be Thankful You Don’t Have to Pay Mom and Dad’s Interest Rate

July 5, 2017

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

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Interest rates have hovered around 4% for the majority of 2017, which has given many buyers relief from rising home prices and has helped with affordability. Experts predict that rates will increase by the end of 2017 and will be about three-quarters of a percentage point higher, at 4.5%, by the end of 2018. Last

Your Opportunity to Achieve the American Dream Keeps Getting Better!

July 4, 2017

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

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Forbes.com recently released the latest results of their American Dream Index, in which they measure “the prosperity of the middle class, and…examine which states best support the American Dream.” The monthly index measures several different economic factors, including goods-producing employment, personal and commercial bankruptcies, building permits, startup activity, unemployment insurance claims, labor force participation, and layoffs. The national

2 Myths Holding Back Home Buyers

June 23, 2017

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

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In Realtor.com’s recent article, “Home Buyers’ Top Mortgage Fears: Which One Scares You?” they mention that “46% of potential home buyers fear they won’t qualify for a mortgage to the point that they don’t even try.” Myth #1: “I Need a 20% Down Payment” Buyers overestimate the down payment funds needed to qualify for a

Pre-Approval Should Always Be Your First Step

June 15, 2017

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

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In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for

Buyer’s Market Helps Premium Home Sales Soar

May 28, 2017

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

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We previously reported how a shortage of inventory in the starter and trade-up home markets is driving prices up and causing bidding wars, creating a true seller’s market. At the same time, in the premium home market, an over-abundance of inventory has started to see prices come down and put buyers in the driver’s seat,