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The National Association of Realtors recently released a study titled ‘Social Benefits of Homeownership and Stable Housing.’ The study regarding homeownership confirmed a long-standing belief of most Americans: “Owning a home embodies the promise of individual autonomy and is the aspiration of most American households. Homeownership allows households to accumulate wealth and social status, and is the basis […]
The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of the data points that has changed dramatically is the median tenure of a family in a home. Ever wonder how long most people stay in their home? As the graph below shows, for over twenty years (1985-2008), the median tenure averaged […]
Housing prices today seem to be in the center of many real estate conversations. Experts have weighed in on the price of homes and where they may be headed. That is why we like the Home Price Expectation Survey. Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts, and investment & market strategists […]
Brand-spankin’ new homes sold like hotcakes last year, as buyers raced to close on the abodes of their dreams. Maybe it was that new-home smell—or the sight of rising mortgage rates. Sales of new homes were up 12.2% in 2016 compared with a year earlier, according to the seasonally adjusted numbers in a joint report by the U.S. […]
When it comes to mortgages, there’s a big gap between what people think they need in order to get one and the reality of what buyers are successfully doing—especially young people. I know, I know, I’ve written on down payments before (like last month, when I highlighted that putting 20% down isn’t the norm). But you know what? When […]
The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States. Speaking of renting, the updated numbers actually show that the range is an average of 17.4% less expensive in Honolulu (HI), all the way […]
From Empty Nest to Full House, multigenerational homes are coming back in a big way! In the 1950s, about 21%, or 32.2 million Americans shared a roof with their grown children or parents. According to a recent Pew Research Center report, the number of multigenerational homes dropped to as low as 12% in 1980 but has shot […]
Are you looking to relocate to a new home or purchase a new home? We think it’s best to understand the past, present and future of home prices. CoreLogic released their most current Home Price Index last week. In the report, they revealed home prices appreciation in three categories. The categories ranged from percentage appreciation over the […]
So you made an offer, it was accepted, and now your next task is to schedule the home inspection prior to closing. More often than not, your agent may have made your offer contingent on a clean home inspection. This contingency allows you to renegotiate the price paid for the home, ask the sellers to cover repairs, […]
The results of countless studies have shown that potential home buyers, and even current homeowners, have an inflated view of what is really required to qualify for a mortgage in today’s market. One such study by the Wharton School of Business at the University of Pennsylvania, revealed that many Millennials have not yet considered purchasing a home, […]