May 15, 2014 2:24 pm
The Hispanic community was hit hardest by the housing crash. Now that the market is recovering, many of these families have the opportunity to either buy a home again, or those that lost home value during those years, are seeing equity return allowing them to sell and move to the home that they always wanted.
These buyers are ready, but according to a recent survey done by NAHREP (the National Association of Hispanic Real Estate Professionals) there are barriers that do not allow these buyers to enter the market right now. As real estate professionals is our duty to remove some of these barriers, if possible, and help as many families as we can become homeowners if they are ready, willing and able.
The Hispanic community is becoming a very important part of today’s real estate market, “The number of Hispanic households has grown to 14.7 million in 2013 and today a Hispanic youth turns 18 every minute of every day,”
according to the 2013 State of Hispanic Homeownership Report.
May 14, 2014 2:12 pm
Whether you are buying or selling a home, you need an experienced Real Estate Professional to lead you toward your ultimate goal. In this world of instant gratification and Internet searches, many sellers think that they can For Sale by Owner or FSBO.
The 5 Reasons You NEED a Real Estate Professional in your corner haven’t changed, but rather have been strengthened in recent months due to rising interest rates & home prices
as the market recovers.
1. What do you do with all this paperwork?
Each state has different regulations regarding the contracts required for a successful sale, and these regulations are constantly changing. A true Real Estate Professional is an expert in their market and can guide you through the stacks of paperwork necessary to make your dream a reality.
2. Ok, so you found your dream house, now what?
May 13, 2014 2:00 pm
Eric Belsky is Managing Director
of the Joint Center of Housing Studies at Harvard University. He also currently serves on the editorial board of the Journal of Housing Research and Housing Policy Debate. Last year he released a paper on homeownership - The Dream Lives On: the Future of Homeownership in America
. In his paper, Belsky reveals five financial reasons people should consider buying a home.
Here are the five reasons, each followed by an excerpt from the study:
1.) Housing is typically the one leveraged investment available.
“Few households are interested in borrowing money to buy stocks and bonds and few lenders are willing to lend them the money. As a result, homeownership allows households to amplify any appreciation on the value of their homes by a leverage factor. Even a hefty 20 percent down payment results in a leverage factor of five so that every percentage point rise in the value of the home is a 5 percent return on their equity. With many buyers putting 10 percent or less down, their leverage factor is 10 or more.”
2.) You're paying for housing whether you own or rent.
May 12, 2014 1:48 pm
A recent study
by Harris Poll
revealed that, for the same price, forty one percent of Americans would prefer to buy a newly built home instead of an existing home. Twenty one percent prefer an existing home while thirty eight percent didn’t have a preference.
However, those desiring a new home may not be prepared to ante-up the difference in price. Only forty six percent of those who strongly prefer a new home are willing to pay at least 20 percent extra* to purchase a new home versus a comparable existing home.
*Trulia estimates “that new homes built in 2013 or 2014 are typically priced 20 percent higher than older homes of a similar size and location.”
Why a New Home?