Wednesday, January 19, 2022 / by Laura Miller Edwards Realty Group
After almost two years of double-digit increases, many experts thought home price appreciation would decelerate or happen at a slower pace in the last quarter of 2021. However, the latest Home Price Insights Report from CoreLogic indicates while prices may have plateaued, appreciation has definitely not slowed. The following graph shows year-over-year appreciation throughout 2021. December data has not yet been released.
As the graph shows, appreciation has remained steady at around 18% over the last five months.
In addition, the latest S&P Case-Shiller Price Index and the FHFA Price Index show a slight deceleration from the same time last year – it's just not at the level that was expected. However, they also both indicate there’s continued strong price growth throughout the country. FHFA reports all nine regions of the country still experienced double-digit appreciation. The Case-Shiller 20-City Index reve ...
Tuesday, January 11, 2022 / by Laura Miller Edwards Realty Group
As you set out on your homebuying journey, you likely have a plan in place, and you’re working on saving for your purchase. But do you know how much you actually need for your down payment?
If you think you have to put 20% down, you may have set your goal based on a common misconception. Freddie Mac says:
“The most damaging down payment myth—since it stops the homebuying process before it can start—is the belief that 20% is necessary.”
Unless specified by your loan type or lender, it’s typically not required to put 20% down. According to the Profile of Home Buyers and Sellers from the National Association of Realtors (NAR), the median down payment hasn’t been over 20% since 2005. It may sound surprising, but today, that number is only 13%. And it’s even lower for first-time homebuyers, whose median down payment is only 7% (see graph below):
What Does This Mean for You?
While a ...
Tuesday, December 28, 2021 / by Laura Miller Edwards Realty Group
It’s no secret that we love our furry friends - about 70% of U.S. households have pets. What may come as a surprise is how large a role they play in the homebuying process.
Americans spend $1,163 a year on their pets, and nearly half of pet owners say they would move for better accommodations and amenities for their pets.
If you’re thinking of adding a furry friend, or if you already have, let’s connect to discuss how you can find a home that meets all your pet’s needs.
This blog post previously appeared on https://www.simplifyingthemarket.com/en/2021/12/10/a-happy-tail-pets-and-the-homebuying-process-infographic/?a=106260-312309902871c1f0d820820f58bf8fde The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. and the Laura Miller Edwards Realty Group do not guarant. ...
Wednesday, December 22, 2021 / by Laura Miller Edwards Realty Group
There’s no question that the financial benefits of selling a house are outstanding today. Now is truly a great time to list if you’re ready to make a change. But if you do sell your house right now, you may be wondering where you’ll go when you move.
With so few homes available to buy right now, you might be considering building a new home as one of your options. But you may be unsure if that’s the way to go. Let’s compare the benefits of a newly built home versus moving into an existing one, and why working with a real estate agent throughout the process is mission-critical to your success no matter what you decide.
The Pros of Newly Built Homes
First, let’s look at the benefits of purchasing a newly constructed home. With a brand-new home, you’ll be able to:
1. Create your perfect home.
If you build a home from the ground up, you’ll have the option to select the custom features you want, including ap ...
Tuesday, December 7, 2021 / by Laura Miller Edwards Realty Group
If you’re living on your own and looking to buy a home, know that you can make your dream a reality with thoughtful planning and the right team of experts. Research from Freddie Mac shows 28% of all households (36.1 million) are sole-person, and that number is growing. Over the past 40 years, the number of sole-person households has nearly doubled, and that’s a trend that’s expected to continue. According to Freddie Mac:
“Our calculation suggests that there will be an additional 5 million sole-person households in the United States by the next decade. This means 42% of the household growth will be contributed by sole-person households, . . .”
If you fall into this category, here are three tips to help you achieve your homeownership goals.
1. Know Your Credit Score
When you buy a home on your own, you have to qualify for your loan based solely on your own finances and credit history. Inv ...