Everyone has their own idea of the American Dream, and it's different for each person. But, in a recent survey by Bankrate, people were asked about the achievements they believe represent the American Dream the most. The answers show that owning a home still claims the #1 spot for many Americans today (see graph below): In fact, according to the graph, owning a home is more important to people than retiring, having a successful career, or even getting a college degree. But is the dream of homeownership still alive for younger generations? A recent survey by 1000watt dives into … Continue reading...
Items to think about loan rates.
With the combination of rates being at the highest levels for years and prices up, and the Media putting a negative spin on EVERYTHING… Can we blame them? Probably not… but we certainly can educate them. First up: Prices are not likely to go down. Take a look at this chart: For the past 40years we have averaged 2-2.5 million units listed for sale in the country. We have been struggling with less than half that average for a few years. What you can’t see on this chart is; of that current inventory number, over 30% is under contract so the available number is more like 700,000 homes. … Continue reading...
Planning on buying a house, here are some tips.
house-2977085_640.jpg Owning your dream home is one of your life’s greatest achievements. However, investing in your dream residential property can be overwhelming and daunting, whether you are a first-time homeowner or have owned a house before. If you are thinking about buying or building your dream home from scratch, here are five tips to help you get started. Review your finances The first step to owning your dream home is reviewing your financial health. Homeownership is expensive, and you will likely incur more expenses even after you move into your new home, so you need to be … Continue reading...
Starter Home vs. Forever Home: Pros & Cons
By Matt Carson on 10/24/2023 Tags: buying a home before you buy Buying a starter home vs. your forever home | Guaranteed Rate In today's housing market, a growing number of first-time homeowners are opting to skip over the traditional ‘starter’ home and purchasing their 'forever' home first. This is the home that they plan to live in for the rest of their life. While this strategy of finding a home that will suit all of their future needs won't work for every first-time homebuyer, a 'one-and-done' approach is definitely worth considering. In this discussion, we'll take a look at the top … Continue reading...
What Buyers need to know about buying a home
There are costs when buying a home, most people know about THE price of the home and the associated down payment with the balanced financed over the course of the mortgage. However, here are 10 "Other" Categories of Costs When Buying A Home. Let's review them. Per Craig Donofrio in Realtor.com November 7, 2023, "The costs of buying a home go well beyond the actual purchase price. If you’re a first-time home buyer, you might get a little queasy when the last line of your good-faith estimate comes in at several thousand dollars. And after the color returns to your face, you might also be a … Continue reading...
Buyers, things are changing in the Denver area.
For several years now, home sellers have had the upper hand. We all remember the covid market - extremely high buyer demand, homes receiving numerous offers and selling over asking price within days of hitting the market. While the frenzy has slowed down with the help of rising interest rates, sellers still technically hold the advantage for one simple reason: months supply of inventory. This metric sheds light on how many months it would take to sell the current housing inventory based on the current demand of buyers. Six months is the tipping point, anything over that is considered a … Continue reading...
Renters, think about this.
Your Landlord loves you for making him rich. Isn't it time for you to think about buying a home? … Continue reading...
Do not wait to buy a home Buyers this is what you need to know.
Home_buyers_waiting_for_interest_rates_to_go_down_(6.125_x_4.125_in).png Taking Action: The Smarter Approach While waiting for interest rates to drop may seem like a prudent choice, it's essential to consider the potential consequences. When rates do finally decrease, a surge of buyers who have been on the fence will flood the market and you will have competition when purchasing a home. This increased demand can have a significant impact: Rising Home Prices: The influx of buyers can drive up home prices. What was once an affordable option might become less attainable as competition … Continue reading...
10 things not to do when buying a home
The top ten things not to do when buying a home. So you have decided you want to become a homeowner. This is always exciting, especially for first-time homebuyers. Home ownership is one of the most rewarding things you can do. Since buying a home is the largest purchase of your life, you might want to read these suggestions of what NOT to do when getting ready to buy a home. 1. Don't get your loan from the first place you hear about. Get referrals from your Realtor for three different lenders and interview them to find one that is competitive and offers top notch service. 2. … Continue reading...
Navigating High Mortgage Rates
Today, I want to discuss something that’s probably on the minds of a lot of folks looking to buy a home: those pesky high mortgage interest rates that just won’t quit. I mean, seriously, they’ve shot up to around 7 percent! Ouch, right? It can feel pretty daunting for many homebuyers out there. But here’s the deal: while it might seem like a tough nut to crack, it’s important to remember that this challenge isn’t insurmountable. There are several things you can do to navigate around the high interest rates so you can achieve home ownership and increase your chances of securing a … Continue reading...