First Time Home Buyers

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62% of Buyers Are Wrong About Down Payment Needs

By |2019-10-07T10:00:55+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

5 Homebuying Acronyms You Need to Know [INFOGRAPHIC]

By |2019-10-04T10:00:40+00:00October 4th, 2019|

Some Highlights: Learning the lingo of homebuying is an important part of feeling successful when buying a home. From APR to P&I, you need to know the acronyms that will come up along the way, and what they mean when you hear them. Your local professionals are here to help you feel confident and informed

What to Expect from Your Home Inspection

By |2019-10-01T10:00:33+00:00October 1st, 2019|

You made an offer and it was accepted. Your next task is to have the home inspected prior to closing. Agents often recommend you make your offer contingent upon a clean home inspection. This contingency allows you to renegotiate the price you offered for the home, ask the sellers to cover repairs, or in some

How Does the Supply of Homes for Sale Impact Buyer Demand?

By |2019-09-30T10:00:21+00:00September 30th, 2019|

The latest edition of the Realtors Confidence Index from NAR sheds some light on the relationship between seller traffic (supply) and buyer traffic (demand). Until the supply of homes for sale starts to meet buyer demand, prices will continue to rise. The price of any item is determined by supply, as well as the market’s demand for the item. The National

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

By |2019-09-27T10:00:11+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 months.

Homeowners Are Happy! Renters? Not So Much.

By |2019-09-26T10:00:24+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 |2019-09-25T10:00:23+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

One of the Top Reasons to Own a Home

By |2019-09-19T10:00:40+00:00September 19th, 2019|

One of the benefits of homeownership is that it is a “forced savings plan.” Here’s how it works: You make a mortgage payment each month. Part of that payment is applied to the principal balance of your mortgage. Each month you owe less on the home. The difference between the value of the home and

What Buyers Need to Know About HOAs

By |2019-09-18T10:00:17+00:00September 18th, 2019|

When searching for a home, you may end up selecting a property in a community with a Homeowners Association (HOA). Before you buy, it’s important to know how an HOA works and what they mean for you. According to a recent article on realtor.com, “In a nutshell, an HOA helps ensure that your community looks

Things to Avoid After Applying for a Mortgage

By |2019-09-16T10:00:44+00:00September 16th, 2019|

Congratulations! You’ve found a home to buy and have applied for a mortgage! You’re undoubtedly excited about the opportunity to decorate your new home, but before you make any large purchases, move your money around, or make any big-time life changes, consult your loan officer – someone who will be able to tell you how