A recent study by the National Association of Realtors, Home Buyer and Seller Generational Trends, revealed that Millennials are a much higher percentage of the overall housing market than the public may realize. Here are the breakdowns:
Contrary to what many believe, Millennials make up the largest percentage of all buyers and a substantial percentage of all sellers.
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Some housing experts are concerned that the housing recovery seems to be stalling. Some are blaming the one percent increase in mortgage interest rates since the first quarter of last year. Others are pointing at an economy that is improving but only at a snail’s pace. Still, others are questioning whether homeownership is even considered by some to still be part of the American Dream.
However, there is great evidence that the true reason home sales aren’t stronger is because we lack inventory in the vast majority of markets across the country.
Here are a few reasons why we believe this to be true:
Buyers Are Searching the Internet for Homes in Record Numbers
Trulia, a major online residential real estate site for home buyers that lists…
National Homeownership Month actually started as a week-long celebration of homeownership during the Clinton administration in 1995. In 2002, President George W. Bush proclaimed June as the National Homeownership Month. Here is an excerpt from his proclamation:
Homeownership is an important part of the American Dream¦A home provides shelter and a safe place where families can prosper and children can thrive. For many Americans, their home is an important financial investment, and it can be a source of great personal pride and an important part of community stability.
Homeownership encourages personal responsibility and the values necessary for strong families. Where homeownership flourishes, neighborhoods are more stable, residents are…
Let me count the reasons:
- flight to quality due to rising geopolitical risk,
- the Fed's promise to keep short-term rates low for a long time,
- Japan's massive monetary stimulus, the ECB's decision to start printing money,
- weaker than expected US growth,
- no evidence of commodity or wage inflation in the US and the Fed's continued purchasing of over half of all MBS!
Rates have bottomed!
The housing market is recovering nicely. Prices have increased nationally by double digits over the last twelve months. Competition from the shadow inventory of lower priced distressed properties (foreclosures and short sales) is diminishing rapidly. Now may be the perfect time to sell your home and move to the dream house or beautiful location your family has always talked about.
The one suggestion we would definitely offer: DON’T OVERPRICE IT!!
Even though prices have increased by more than 10% over the last year, the acceleration of appreciation has slowed dramatically over the last few months. As an example, in their April Home Price Index Report, CoreLogic revealed that home prices actually depreciated by .08% this month as compared to last…
No! They want you to Do as I Say… not as I Do
This adage could be no truer today after it has been reported, in a recent Herald Tribune article, that when it came to selling his Florida mansion, Al Bennati, the longtime chief executive of BuyOwner.com, has chosen to list his home with a local real estate agent.
BuyOwner.com is one of many websites out there now that encourage home owners that they do not need to enlist the help of a professional agent to be able to sell their home. They go as far as to tell homeowners:
"BuyOwner.com allows you to reach the most potential buyers in the shortest amount of time, in the most effective (the Internet) and most cost effective manner (no commission!) possible."
Let’s break down that statement:
The Importance of the Latino Community to Today's Real Estate Market
Some say 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 of their dreams.
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…
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Listing information last updated on June 5th, 2020 at 5:19am MDT.