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 Continue Reading
The Impact of Homeownership on Educational Achievement
The National Association of Realtors recently released a study titled 'Social Benefits of Homeownership and Stable Housing.’ The study confirmed a long-standing belief of most Americans: “Owning a home embodies the promise of individual autonomy and is the aspiration of Continue Reading
Daydreaming About Your Perfect Home? Know What You WANT vs. What You NEED
In this day and age of being able to shop for anything anywhere, it is really important to know what you’re looking for when you start your home search. If you’ve been thinking about buying a home of your own for some time now, you’ve probably come up with a Continue Reading
2 Myths That May Be Holding Back Buyers
Fannie Mae’s article, “What Consumers (Don’t) Know About Mortgage Qualification Criteria,” revealed that “only 5 to 16 percent of respondents know the correct ranges for key mortgage qualification criteria.” Myth #1: “I Need a 20% Down Payment” Fannie Mae’s survey revealed Continue Reading
Have You Saved Enough for Closing Costs?
There are many potential homebuyers, and even sellers, who believe that they 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 many loan programs allow you to put down as little Continue Reading
Buying a Home is More Affordable Than Renting in 66% of US Counties
According to ATTOM Data Solutions’ 2017 Rental Affordability Report, buying a home is more affordable than renting in 354 of the 540 U.S. counties they analyzed. The report found that “making monthly house payments on a median-priced home — including mortgage, property Continue Reading
Four Reasons to Buy a Home This Spring
Here are four great reasons to consider buying a home today instead of waiting. Prices Will Continue to Rise CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.3% over the last 12 months. The same report predicts that prices will Continue Reading
The Home Inspection
A buyer typically has up to 7-10 days from the date of an accepted purchase agreement contract to have the home inspection performed. Once the inspection is complete and the buyer is satisfied with the home, a lender will then order the appraisal and really get the ball Continue Reading
Making an Offer on a Home
What’s required in an offer package? When we submit an offer, we typically include the following items: An earnest money deposit “EMD” check – typically 1-3% of the offer price. It can be in the form of a a personal check. Funds are held in escrow and applied toward Continue Reading
What are the Costs Associated with Buying a Home?
“EMD” Earnest Money Deposit Typically 1-3% of purchase price. Can be a personal check. Usually check is made out to the agent’s brokerage and deposited in the brokerage escrow account. Appraisal Fee & Home Inspection $400-500 for appraisal. $350 to $1000 Continue Reading