Wednesday, June 12, 2019 / by Brian Ness
3 Things to Know in the Housing Market Today!
A lot is happening in the world, and it’s having a direct impact on the housing market. The reality is this: some of it is positive and some of it may be negative. Some we just don’t know yet.
The following three areas of the housing market are critical to understand: interest rates, building materials, and the outlook for an economic slowdown.
1. Interest Rates
One of the most important things to consider when buying a home is the interest rate you will be charged to borrow the money. In our recent post we posed the question, “Are Low Interest Rates Here To Stay?” The latest information from Freddie Mac makes it appear they are. We are currently at a 21-month low in interest rates.
2. Building Materials
Talk of tariffs could also affect the housing market. According to a recent article, the National Association of Home Builders reports that as much ...
Tuesday, June 11, 2019 / by Brian Ness
Renting or Owning, What Is Better for You?
In a real estate market where home prices are rising, many have begun to reexamine the idea of buying a home, choosing instead, to rent for a while. But often, there is a dilemma: should you keep paying rent, knowing that rent is rising too, or should you lock in your housing cost and buy a home?
Let’s look at both scenarios and analyze the pros and cons of each:
With the housing market crash in 2008, many homeowners lost their homes and became renters. According to Iproperty Management, “the number of households renting their home … rose from 31.2% of households in 2006 to 36.6% in 2016”.
Some choose to rent because it is more convenient for their lifestyle. Those whose job requires frequent moves need the flexibility that a 6-12 month lease agreement gives them so they can move to their next assignment!
Many renters believe that renting is cheaper because they do not have to pay for maintenance a ...
Monday, June 10, 2019 / by Brian Ness
This is one of the biggest moments of your life. It may not seem that way if you’ve been seeing your significant other for years, but living together is much more involved. You’ll soon be sharing the same spaces, including the bedroom, bathroom, and kitchen. Not surprisingly, some couples never make it through this stage of their relationship for many reasons. Even if you’ve been together for years, and have lived in the same home for most of your relationship, your tastes can change with age. The following tips can help you keep the harmony whether you’re newly married, testing the waters, or veterans of your relationship.
Brainstorm, communicate, and compromise to create an interior that you both love, and you’re off to an excellent start to this new romantic adventure. Here’s how to go about it.
There’s no way you can fit everything into that limited space, so some things will obviously ...
Monday, June 10, 2019 / by Brian Ness
2 Myths Holding Back Home Buyers
reddie Mac recently released a report entitled, “Perceptions of Down Payment Consumer Research.”Their research revealed that,
“For many prospective homebuyers, saving for a down payment is the largest barrier to achieving the goal of homeownership. Part of the challenge for those planning to purchase a home is their perception of how much they will need to save for the down payment…
…Based on our recent survey of individuals planning to purchase a home in the next three years, nearly a third think they need to put more than 20% down.”
Myth #1: “I Need a 20% Down Payment”
Buyers often overestimate the funds needed to qualify for a home loan. According to the same report:
22% of renters and 31% of homeowners believe lenders require 20% or more of a home’s sale price as a down payment for a typical mortgage today. And,
“If a 20% down payment was required ...
Saturday, June 8, 2019 / by Brian Ness
Rochester Real Estate Talk Show Saturday’s from 8:30-9am on KROC-AM 1340 / 96.9 FM
6/8/19 Robin Gwaltney, with Gwaltney Group-RE/MAX Results, stresses the importance of community involvement. Robin says volunteering and being engaged with community events and initiatives have always been important to her and her family and she makes sure members of her team have the same values. She explains it's a win-win situation, noting a strong commitment to the community improves the lives of our neighbors and also makes it more attractive to people considering making Rochester their home.