Millionaire To Millennials: Buy A Home Now!

What did the millionaire say to the millennials…..Buy a home now!  In a CNBC article, self-made millionaire David Bach explained that “the single biggest mistake millennials are making” is not purchasing a home because buying real estate is “an escalator to wealth.” Bach went on to explain: “If millennials don’t buy a home, their chances of actually having any wealth in this country are little to none. The average homeowner to this day is 38 times wealthier than a renter.” In his bestselling book, “The Automatic Millionaire,” Bach does the math: “As a renter, you can easily spend half a million dollars or more on rent over… Read More

No… You Do Not Need 20% Down To Buy A Home!

The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. The results of the survey show that non-homeowners cite the main reason for not currently owning a home, as not being able to afford one. This brings us to two major misconceptions that we want to address today, the amount of money needed for down payment and the necessary credit score you need to be able to purchase. 1. Down Payment Needed for Home Purchase NAR’s survey revealed that… Read More

Check Your Credit Reports BEFORE You Start House Hunting

Your credit—including ensuring credit reports are correct, knowing your credit score, and acting to improve it—is among the most confusing topics related to personal finance. Yet it’s extremely important—particularly if you’re planning to buy a house, and especially if you’re a first-time buyer. Your credit score is one of the first things a lender will look at when you apply for a mortgage. To cut through all that confusion, here are five tips you can act on right now to identify and address any problems with your credit: Check your credit reports for free once a year through the three… Read More

5 Things Buyers Should Never Compromise On

Sure, compromise between buyers and sellers is part of the game when getting to closing. But there are some things buyers should never acquiesce—or they’ll likely regret their home purchase. Realtor.com® recently asked real estate professionals to weigh in on some of the top items their clients regret about the home they bought. 1. The floor plan. It’s difficult and expensive to reconfigure a home’s floor plan. Sarah Garza, MRP, a real estate pro with Trident Homes Realty in Arnold, Md., suggests that if a home does not fit your buyers’ minimum criteria in terms of number of rooms and… Read More

What To Look For In Your Real Estate Team

How do you select the members of your team who are going to help you make your dream of owning a home a reality? What should you be looking for? How do you know if you’ve found the right agent or lender? The most important characteristic that you should be looking for in your agent is someone who is going to take the time to really educate you on the choices available to you and your ability to buy in today’s market.   As Dave Ramsey, the financial guru, advises: “When getting help with money, whether it’s insurance, real estate… Read More

Maximize Financial Reward When Selling

Every homeowner wants to maximize financial reward when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensure that you get the highest price possible. 1. Price it a LITTLE LOW to maximize financial reward This may seem counterintuitive. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below). Instead of the seller trying to ‘win’ the… Read More

Moving With Pets: Tips For Animal Lovers

There’s a lot to consider when you’re trying to choose a new home for your family. Is the kitchen big enough? Are there enough bedrooms? Is there plenty of room to store all my camping and sports equipment? Does the home have a bonus space that can be used for a game/playroom, office or guest bedroom? How does the neighborhood school rank? What’s the proximity to a grocery store, shopping and entertainment? Your real estate agent has probably asked your preference on these questions and more, but one thing you may not have considered is what makes a good home… Read More

What’s Feeding the Affordability Perception?

Affording a mortgage payment is possible for many prospective homeowners. Why then, by all accounts, is un-affordability plaguing the market? Why is the perception of affordability so negative? Researchers at Freddie Mac offered several answers to that question in its latest Insight, the first one being perception. Homebuyers struggling to find reasonably-priced listings perceive the housing market in general as unaffordable — a reasonable conclusion, if their only options to date have been out-of-reach stock. Secondly, the high likelihood for competition (i.e., bidding wars) is off-putting, both for first-time homebuyers and for sellers re-entering the market. The latter’s hesitation is… Read More

4 Reasons To Buy A Home This Fall

Here are four great reasons to consider buying a home today, instead of waiting. 1. Home Prices Will Continue to Rise CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.0% over the next year. The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense. 2. Mortgage Interest Rates Are Projected to Increase Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have hovered around 4%…. Read More

Shopping For Your Dream Home? Wants vs Needs

Are you shopping for your dream home? In this day and age of being able to shop for anything anywhere, it is really important to know what you’re looking for when you start your home search. Making a list of wants vs needs before you go online or speak with your Realtor will save you a lot of time and possible disappointment. Ready to start shopping now?  Start here: Affordable Homes in San Antonio If you’ve been thinking about buying a home of your own for some time now, you’ve probably have already come up with a list of things… Read More