Saving for a down payment is often the biggest hurdle for a first-time homebuyer. Depending on where you live, median income, median rents, and home prices all vary. So, we set out to find out how long it would take to save for a down payment in each state.
Using data from HUD, Census and Apartment List, we determined how long it would take, nationwide, for a first-time buyer to save enough money for a down payment on …
Many of the questions currently surrounding the real estate industry focus on home prices and where they are heading. The most recent Home Price Expectation Survey (HPES) helps target these projected answers.
Here are the results from the Q2 2019 Survey:
| Subject: Wire Fraud Red Flags-Please Share Info with Your Clients |
Date: July 18, 2019 at 11:41:44 AM CDT
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Wanted to share another alarming scenario regarding a buyer receiving emails regarding wire transfer instructions for closing funds- Another FBM mortgage banker in our TN area was working with a client preparing for their closing. The client had received an email that appeared to …
The largest obstacle renters face when planning to buy a home is saving for a down payment. This challenge is amplified by rising rents, which has eaten into the amount of money renters have leftover for savings each month after paying expenses.
In combination with higher rents, survey after survey has shown that non-homeowners (renters and those living rent-free with family or friends) believe they need to save upwards of 20% for their down payment!
According to the “Barriers to …
In today’s fast-paced world where answers are a Google search away, there are some who may wonder what the benefits of hiring a real estate professional to help them in their home search are. The truth is, the addition of more information causes more confusion.
Shows like Property Brothers, Fixer Upper, and dozens more on HGTV have given many a false sense of what it’s like to buy and sell a home.
Now more than ever, you need an
With home prices softening, some are concerned that we may be headed toward the next housing crash. However, it is important to remember that today’s market is quite different than the bubble market of twelve years ago.
A decade ago, home prices depreciated dramatically, losing about 29% of their value over a four-year period (2008-2011). Today, prices are not depreciating. The level of
