The Cost of a Home: Last Year, This Year & Next Year

Hi Friends,

Here is an article I came across in my reading today that I thought you may have some interest in.

"The cost of a home is determined mainly by two components: price and mortgage rate. Today, we want to show how the monthly cost of purchasing a median priced home has changed over the last twelve months and how it might change over the next twelve months. For the first two examples, we will be using the National Association of Realtors' (NAR) Existing Home Sales Report to establish median price and Freddie Mac's Primary Mortgage Market Survey to establish mortgage rate. We also assumed a 20% down payment in all examples."


To continue reading: The Cost of a Home

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Monthly Market Stats

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I thought you might have some interest in seeing these recent market statistics!

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Selling a House? Don't Overprice it!

Hi Friends,

I found this article during my reading today and thought it may be of interest to you!

"There is no doubt that the housing market is coming back nicely. What, if anything, could slow down the current momentum? We believe it may be sellers’ over exuberance when it comes to pricing. There is little doubt that house prices have appreciated over the last twelve months in most regions of the country. However, with both the inventory of homes for sale and interest rates increasing, we have to be careful to not over judge what the market can bear."

To continue reading: Selling a House? Don't overprice it!

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Renters Thinking More About Owning a Home, Say Homeownership is a Top Priority

Hi Friends,

Here is an article I came across in my reading today. I think it may be of interest to you. 

"WASHINGTON (July 25, 2013) – Americans overwhelmingly believe owning a home is a good financial decision and a majority of renters say homeownership is one of their highest priorities for the future, according to a survey by the National Association of Realtors. The 2013 National Housing Pulse Survey also found that renters are thinking more about purchasing a home now than in past years, while the number of people who say they prefer to rent has declined."

To continue reading:
Renters Thinking More About Owning a Home

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Fixed Rates Inch Up

 

Hi Friends, 

I came across this article during my reading today and wanted to share it with you.

"Fixed mortgage rates increased this week following the Federal Open Market Committee’s affirmation that it intends to stay the course on its bond purchasing policy.

According to Freddie Mac’s Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 4.39 percent (0.7 point) for the week ending August 1, up from 4.31 percent last week. Last year at this time, the 30-year fixed averaged 3.55 percent."

To continue reading: Fixed Rates Inch Up

 

Eight in 10 Americans Say Owning Is a Good Financial Decision

Hi Friends,

During my reading today I came across an article that I thought may be of interest to you.

"Americans hold a more positive view of the housing market, while an increasing share of renters plan to own, according to the 2013 National Housing Pulse Survey from the National Association of Realtors (NAR).

Of those surveyed, 80 percent said they believe buying a home is a good financial decision, up by 8 points from 2011.
Over the last two years, the market has also seen an increase in renters who are interested in owning."

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Eight in 10 Americans Say Owning Is a Good Financial Decision

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