My Blog

Homeownership’s Impact on Net Worth

April 9, 2014 7:39 am

4.9 VisualOver the last six years, homeownership has lost some of its allure as a financial investment. As homeowners suffered through the housing bust, more and more began to question whether owning a home was truly a good way to build wealth. A study by the Federal Reserve formally answered this question.

Some of the findings revealed in their report:

  • The average American family has a net worth of $77,300
  • Of that net worth, 61.4% ($47,500) of it is in home equity
  • A homeowner’s net worth is over thirty times greater than that of a renter
  • The average homeowner has a net worth of $174,500 while the average net worth of a renter is $5,100

Bottom Line


3 Reasons to Sell Your Home this Spring

April 8, 2014 7:30 am

4.8 VisualMany sellers are still hesitant about putting their house up for sale. Where are prices headed? Where are interest rates headed? These are all valid questions. However, there are several reasons to sell your home sooner rather than later. Here are three of those reasons.

1. Demand is about to skyrocket

Most people realize that the housing market is hottest from April through June. The most serious buyers are well aware of this and, for that reason, come out in early spring in order to beat the heavy competition. We also have a pent-up demand as many buyers pushed off their home search this winter because of extreme weather. Sellers in markets where seasonal weather is never an issue must realize that buyers relocating to their region will increase dramatically this spring as these purchasers finally decide to escape the freezing temperatures of the winters in the north. These buyers are ready, willing and able to buy…and are in the market right now!

2. There Is Less Competition - For Now


A Home’s Cost vs. Price Explained

April 7, 2014 7:24 am

HomePercentageWe have often talked about the difference between COST and PRICE. As a seller, you will be most concerned about ‘short term price’ – where home values are headed over the next six months. As either a first time or repeat buyer, you must not be concerned about price but instead about the ‘long term cost’ of the home. Let us explain. Recently, we reported that a nationwide panel of over one hundred economists, real estate experts and investment & market strategists projected that home values would appreciate by approximately 8% from now to the end of 2015. Additionally, Freddie Mac’s most recent Economic Commentary & Projections Table predicts that the 30 year fixed mortgage rate will be 5.7% by the end of next year.

What Does This Mean to a Buyer?


[WEBINAR] Spring Ahead in 2014

April 5, 2014 7:06 am

SA-WeekendBlogAd


Millennials: Texting About Buying A Home [INFOGRAPHIC]

April 4, 2014 12:57 pm

Texting-584x1024