Buying Myths

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What FICO® Score Do You Need to Qualify for a Mortgage?

By |2019-11-06T17:47:26+00:00October 8th, 2019|

It’s common knowledge that your FICO® score plays an important role in the homebuying process. However, many buyers have misconceptions regarding what exactly is required to get the loans they need. While a recent announcement from CNBC shares that the average national FICO® score has reached an all-time high of 706, the good news for

62% of Buyers Are Wrong About Down Payment Needs

By |2019-11-06T17:48:48+00:00October 7th, 2019|

Contrary to common misconception, a down payment is often much less than many believe. According to the ‘2019 Home Buyer Report’ conducted by Nerdwallet, many first-time buyers still believe they need a 20% down payment to buy a home in today’s market: “More than 6 in 10 (62%) Americans believe you must put at least 20% down in

What Is the Cost of Waiting Until Next Year to Buy? [INFOGRAPHIC]

By |2019-11-06T18:06:16+00:00September 27th, 2019|

  Some Highlights: The “cost of waiting to buy” is defined as the additional funds necessary to buy a home if prices and interest rates were to increase over a period of time. Freddie Mac forecasts interest rates will rise to 3.8% by Q4 2020. CoreLogic predicts home prices will appreciate by 5.4% over the next 12

Homeowners Are Happy! Renters? Not So Much.

By |2019-11-06T18:06:58+00:00September 26th, 2019|

When people talk about homeownership and the American Dream, much of the conversation revolves around the financial benefits of owning a home. However, two recent studies show that the non-financial benefits might be even more valuable. In a recent survey, Bank of America asked homeowners: “Does owning a home make you happier than renting?” 93%

Are You Ready for the ‘Black Friday’ of Real Estate?

By |2019-11-06T18:07:29+00:00September 25th, 2019|

According to a new study from realtor.com, the week of September 22 is the best time of year to buy a home, making it ‘Black Friday’ for homebuyers. Every year, ‘Black Friday’ is a highly anticipated event for eager shoppers. Some people prepare for weeks, crafting and refining a strategic shopping agenda, determining exactly when

What Is the Probability That Home Values Sink?

By |2019-09-12T10:00:45+00:00September 12th, 2019|

With the current uncertainty about the economy triggered by a potential trade war, some people are waiting to purchase their first home or move-up to their dream house because they think or hope home prices will drop over the next few years. However, the experts disagree with this perspective. Here is a table showing the

Everybody Calm Down! This Is NOT 2008

By |2019-09-05T10:00:08+00:00September 5th, 2019|

Last week realtor.com released the results of a survey that produced three major revelations: 53% of home purchasers (first-time and repeat buyers) currently in the market believe a recession will occur this year or next. 57% believe the next recession will be as bad or worse than 2008. 55% said they would cancel plans to

A Recession Does Not Equal a Housing Crisis [INFOGRAPHIC]

By |2019-08-30T10:00:12+00:00August 30th, 2019|

Some Highlights: There is plenty of talk in the media about a pending economic slowdown. The good news is, home values actually increased in 3 of the last 5 U.S. recessions, and decreased by less than 2% in the 4th. Many experts predict a potential recession is on the horizon. However, housing will not be

A Latte a Day Keeps Homeownership Away [INFOGRAPHIC]

By |2019-08-23T10:00:56+00:00August 23rd, 2019|

Some Highlights: The pumpkin spice latte is launching soon, so you may be tempted to spend your extra cash on a daily caffeine fix, but that small expense can add up to a big number – fast! Saving for a down payment takes a little discipline, so limiting your extra purchases (like a latte a

5 Easy Steps to Avoid Overwhelm from Media Overload

By |2019-08-22T10:00:44+00:00August 22nd, 2019|

When someone is thinking about buying or selling a home, they want to be well-informed. They want to make the right decision for themselves and their family. They scour the internet for any information they can find about the housing market. Today, there is an abundance of information available. It is often conflicting news. It