![A Tale of Two Markets [INFOGRAPHIC] | Simplifying The Market](https://daytonabeachpropertysearch.com/wp-content/uploads/2019/05/20190510-ENG-STM.jpg)
Some Highlights:
- An emerging trend for some time now has been the difference between available inventory and Continue reading…
Mainstream Concerns about an Economic Slowdown Revisited
Recently, we reported that many believe a recession could happen within the next two years. We explained that 70% of economists and market analysts surveyed last year believe that a recession will occur in 2019 or 2020 and that 42% of consumers currently looking to purchase a home also agree that a recession will occur this year or next.
However, the U.S. economy has performed well in the first quarter of 2019 and that has caused Continue reading…
The Benefits of a 20% Down Payment
If you are in the market to buy a home this year, you may be confused about how much money you need to come up with for your down payment. Many people you talk to will tell you that you need to save 20% or you won’t be able to secure a mortgage.
The truth is that there are many programs available that let you put down as little as 3%. Those who have served our country could qualify for a Veterans Affairs Home Loan (VA) without needing a down payment.
These programs have cut the savings time that many families would need Continue reading…
Home Buyers are Optimistic About Homeownership!
When we consider buying an item, we naturally go through a research process prior to making our decision. We ask our friends and family members who have made similar purchases about their experience, we get opinions and insights, and we read reviews online. There’s no difference when considering a home purchase!
I WOULD LIKE TO HELP YOU FIND YOUR NEW HOMEVISIT MY BUYERS INFORMATION PAGE
Most homebuyers start by listening to the news to hear what is being said about the real estate market. They check with family and friends about their experience. They spend time online Continue reading…
Why Access Is One of the Most Important Factors in Getting Your House Sold!
So, you’ve decided to sell your house. You’ve hired a real estate professional to help you through the entire process, and they have asked you what level of access you want to provide to your potential buyers.
There are four elements to a quality listing. At the top of the list is access, followed by condition, financing, and price. There are many levels of access that you can provide to your agent so that he or she can show your home.
Here are five levels of access that you can give to buyers, along with a brief description:
- Lockbox on the Door – this allows buyers the ability to see the home as soon as they are aware of the listing, or at their convenience. Continue reading…
The Cost of Renting vs. Buying This Spring [INFOGRAPHIC]
![The Cost of Renting vs. Buying This Spring [INFOGRAPHIC] | Simplifying The Market](https://daytonabeachpropertysearch.com/wp-content/uploads/2019/05/20190503-ENG-STM.jpg)
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Some Highlights:
- Historically, the choice between renting or buying a home has been a tough decision.
- Looking at the percentage of income needed to rent a median-priced home today (27.7%) vs. the percentage needed to buy a median-priced home (17.5%), the choice becomes obvious.
- Every market is different. Before you renew your lease again, find out if you can put your housing costs to work by buying this year!
Your Fabulous New Dream Home is Now Available
Over the last several years, many “baby boomers” have undergone a metamorphosis. Their children have finally moved out and they can now dream about their own future. For many, a change in lifestyle might necessitate a change in the type of home they live in.
That two-story, four-bedroom colonial with three bathrooms no longer fits the bill. Taxes are too high. Utilities are too expensive. Cleaning and repair are too difficult. When they decide to travel to be with friends and family, locking up the house is too time-consuming and worrisome.
Instead, a nice ranch home with 2-3 bedrooms and two baths might better fulfill their new needs and lifestyle. The challenge many “boomers” have faced when trying to downsize to the perfect new home has been a lack of inventory.
2 Trends Helping Keep Housing Affordable
Two positive trends have started to emerge that impact the 2019 Spring Housing Market. Mortgage interest rates for a 30-year fixed rate loan have dropped to new lows, right as reports show that wages have increased at their highest rate in decades!
“Ongoing supply shortages remain the main driver of the performance gap as the housing market continues to face an inventory impasse – you can’t buy what’s not for sale.
However, an unexpected affordability surge, driven primarily by lower-than-anticipated mortgage rates, rising wages and favorable demographics, has boosted housing demand.”
Mortgage interest rates had been on the rise for most of 2018 before reaching their peak in November at 4.94%. According to Freddie Mac’s Primary Mortgage Market Survey, interest rates last week came in at 4.20%.
Average hourly earnings grew at an annual rate of 3.2% in March, up substantially from the 2.3% average pace seen over the last 10 years.
These two factors contributed nearly $6,000 worth of additional house-buying power for median households from February to March 2019, according to First American’s research. Fleming is positive about the prolonged impact of lower rates and higher wages.
“We expect rising wages and lower mortgage rates to continue through the spring, boosting housing demand and spurring home sales.”
Bottom Line
Low mortgage interest rates have kept housing affordable throughout the country. If you plan on purchasing a home this year, act now while rates are still low! Give me a call today 386-315-4744
Check out some of these most popular home searches here at Daytona Beach Property Search
- Homes for sale in the Inter coastal waterway
- Homes and Condos for sale with Seller Financing Available
- Homes for sale in Port Orange along Spruce Creek Rd
- Port Orange Homes for sale with Boat Docks
- New Construction Town Homes in Plantation Bay
- Homes For Sale in LPGA
- Homes For Sale in the Spruce Creek High School District ( TOP RATED SCHOOLS)
SEARCH ALL HOMES IN THE GREATER DAYTONA BEACH AREA HERE
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What Would Make You Sell Your House?
There are many reasons why a homeowner decides to sell their house and move. The latest Generational Trends Report from the National Association of Realtors asked recent home sellers to share their reason for moving.
The younger the respondents, the more likely their top response centered around needing a larger home (ages 29 to 53). Relocating for a job was the top reason for those ages 54 to 63 and the second most popular response for those under 53. The chart below shows the breakdown for these two reasons.
For homeowners over the age of 64, wanting to be closer to friends and family served as the top motivator to move. Downsizing to a smaller home or moving due to retirement came in as a close second and third.
Have you outgrown your current house? Are you a homeowner who can relate to wanting to be closer to family and friends? Is your house becoming a burden to clean now that the kids have moved out?
Bottom Line
Let’s get together to set you on the path to selling your current house and finding the home that fits your needs, today! Give me a call 386-315-4744
How Quickly Can You Save Your Down Payment?
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 their dream home. There is a long-standing ‘rule’ that a Continue reading…