Author: houstonlong1

Why You Need a Professional on Your Team When Buying a Home

Many people wonder whether they should hire a real estate professional to assist them in buying their dream homes or if they should first try to go through the buying process on their own. In today’s market: you need an experienced professional! You Need an Expert Guide If You Are Traveling a Dangerous Path The field of real estate is loaded with landmines; you need a true expert to guide you through the dangerous pitfalls that currently exist. Finding a home that is priced appropriately and is ready for you to move into can be tricky. An agent listens...

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Buying A Home Is More Affordable Than Renting In 54% Of US Counties

According to ATTOM Data Solutions’ 2018 Rental Affordability Report, “buying a median-priced home is more affordable than renting a three-bedroom property in 240 of 447 [or 54% of] U.S. counties analyzed for the report.” For the report, ATTOM Data Solutions compared recently released fair market rent data from the Department of Housing and Urban Development with reported income amounts from the Department of Labor and Statistics to determine the percentage of income that a family would have to spend on their monthly housing cost (rent or mortgage payments). Daren Blomquist, Senior Vice President of ATTOM Data Solutions had this to say: “Although buying is still more affordable than renting...

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Where Did Americans Move in 2017? [INFOGRAPHIC]

Some Highlights: Atlas Van Lines recently released the results of their annual Migration Patterns Survey in which they tracked their customer’s movement from state-to-state over the course of 2017. Idaho held on to the top spot of ‘high inbound’ states for the 2nd year in a row followed by Washington. The ‘outbound’ states seem to draw a line straight across the country from Connecticut to Wyoming. Powered by...

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What Impact Will the New Tax Code Have on Home Values?

Every month, CoreLogic releases its Home Price Insights Report. In that report, they forecast where they believe residential real estate prices will be in twelve months. Below is a map, broken down by state, reflecting how home values are forecasted to change by the end of 2018 using data from the most recent report. As we can see, CoreLogic projects an increase in home values in 49 of 50 states, and Washington, DC (there was insufficient data for HI). Nationwide, they see home prices increasing by 4.2%. How might the new tax code impact these numbers? Recently, the National Association...

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61% of First-Time Buyers Put Down Less than 6%

According to the National Association of Realtors’ latest Realtors Confidence Index, 61% of first-time homebuyers purchased their homes with down payments below 6% from October 2016 through November 2017. Many potential homebuyers believe that a 20% down payment is necessary to buy a home and have disqualified themselves without even trying. The median down payment for all buyers in 2017 was just 10% and that percentage drops to 6% for first-time buyers. Zillow Senior Economist Aaron Terrazas’ recent comments shed light on why buyer demand has remained strong, “Looking into 2018, rent is expected to continue gaining. More widespread...

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