First Time Home Buyers Archives - Page 102 of 107

Do You Know the Cost of Renting vs. Buying? [INFOGRAPHIC]

Some Highlights:Historically, the choice between renting or buying a home has been a close decision.Looking at the percentage of income needed to rent a median priced home today (30%) vs. the percentage needed to buy a median priced home (15%), the cho…

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The Past, Present & Future of Home Prices

First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers / By Corinne Geiger

CoreLogic released their most current Home Price Index last week. In the report, they revealed home appreciation in three categories: percentage appreciation over the last year, over the last month and projected over the next twelve months.

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3 Questions to Ask Before Buying Your Dream Home

First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers, Pricing / By Corinne Geiger

3 Questions to Ask Before Buying Your Dream Home | Simplifying The Market If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family will have your best interest at heart, they may not be fully aware of your needs and what is currently happening in the real estate market.

Ask yourself the following 3 questions to help determine if now is actually a good time for you to buy in today’s market.

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Mortgage Rates by Decade Compared to Today [INFOGRAPHIC]

First Time Home Buyers, For Buyers, For Sellers, Interest Rates, Move-Up Buyers / By Corinne Geiger

Some Highlights:The interest rate you secure for your mortgage greatly influences your monthly housing costs.In the 1980s, 30-year fixed mortgage rates averaged in the high 12s making the monthly principal and interest payment over $2,000.Interest rate…

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Why We Need More Newly Constructed Homes

First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, New Construction / By Corinne Geiger

The number of new home sales is far off historic norms. The National Association of Realtors (NAR) just reported that the percentage of all house sales that were newly constructed homes has fallen to the lowest numbers in forty years. Here is a graph showing the percentages:

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Have You Put Aside Enough for Closing Costs?

First Time Home Buyers, For Buyers, Move-Up Buyers / By Corinne Geiger

There are many potential homebuyers, and even sellers, who believe that you need at least a 20% down payment in order to buy a home, or move on to their next home. Time after time, we have dispelled this myth by showing that there are many loan programs that allow you to put down as little as 3% (or 0% with a VA loan).

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Mortgage Standards Easing TOO MUCH? NO!!

First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers / By Corinne Geiger

There is no doubt that getting a mortgage is easier today than it was right after the housing crash a decade ago. However, the easing of credit availability has led to some questioning of whether or not we are headed for another housing crisis.

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Why Getting Pre-Approved Should Be Your First Step

First Time Home Buyers, For Buyers, Move-Up Buyers / By Corinne Geiger

In many markets across the country, the amount 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 a mortgage before starting your search.

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Interest Rates Remain at Historic Lows… But for How Long?

First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers / By Corinne Geiger

The interest rate you pay on your home mortgage has a direct impact on your monthly payment; The higher the rate, the greater your payment will be. That is why it is important to look at where the experts believe rates are headed when deciding to buy now or wait until next year.

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Home Prices Up 5.61% Across The Country! [INFOGRAPHIC]

First Time Home Buyers, For Buyers, For Sellers, Infographics, Move-Up Buyers, Pricing / By Corinne Geiger

Some Highlights:

The Federal Housing Finance Agency (FHFA) recently released their latest Quarterly Home Price Index report.
In the report, home prices are compared both regionally and by state.
Based on the latest numbers, if you plan on relocating to another state, waiting to move may end up costing you more!
Vermont was the only one state where home prices are actually lower than they were last year.

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