This Month in Real Estate

5 Reasons to Hire a Real Estate Professional Today! / ¡5 Razones para contratar a un profesional de bienes raíces hoy!

Whether you are buying or selling a home, it can be quite an adventurous journey. You need an experienced Real Estate Professional to lead you to 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 have rather been strengthened due to the projections of higher mortgage interest rates & home prices as the market continues to recover.

More Home Buyers Putting Less Down / Más compradores de casa están poniendo menos de cuota inicial

A recent post by the National Association of Realtors (NAR) revealed that in the months of December 2014 through February 2015, there was an increase in the number of first-time buyers making a down payment of 6% or less as compared to last year:

• 2014: 61% of first time home buyers
• 2015: 66% of first time home buyers

#CreditScore Requirements LOWER As #InterestRates CREEP UP!

Some Highlights: 

• The average 30-year rate for all loans closed in August eclipsed 4.3% for the first time since October 2014.
• The average FICO score for all closed loans in August reached a new yearly low at 724 (the lowest since February 2014!)
• The average down payment of FHA loans closed was just 4%!

It’s Labor Day

5 Unexpected Lessons #WhenBuyingAHome

THING IS, there’s lots more at stake than just a change in status from renter to homeowner. Like so many (if not all!) first-time home buyers, I have no earthly idea what I’m doing. Sure, I can read up on all the buying and finance advice online. Of course, you can consult with a real estate agent and mortgage broker. But if there’s one thing we keep hearing from those who’ve forged the path ahead of you, it’s that when you buy a home for the first time, you’re constantly faced with things you didn’t know you didn’t know.

#TheSmartHome : Doorbell, Lock , Thermostat & Smoke detector

DOORBELL

RING – How Ring Works

The Ring™ Video Doorbell lets you answer the door from anywhere using your smartphone. It features an HD camera with night vision, providing a clear view from your front door, day and night.

Where Is Buying Much Better Than Renting? #buyingvsrenting

A variety of factors were used to calculate these findings, a team of data scientist looked at 2015 median incomes, median home values, and fair market rental data from the U.S. Department of Housing and Urban Development. They assumed current rates for a 30-year fixed-rate mortgage, that a buyer would have a 20% down payment, and that homeownership costs (mortgage, insurance, taxes) wouldn’t exceed 28% of the buyer’s income. Using all of those data points, the team was able to come up with a “maximum affordable price” for each market. Then it counted up the number of available homes in each market that fell under that “maximum affordable price” metric to see which markets boasted the most smart buys.

The Top 10 Features for New #Homes

The outdoor kitchen and two-story foyers are starting to lose favor among new home shoppers, while energy efficiency and bigger closets are gaining in popularity, according to a new survey from the National Association of Home Builders. NAHB asked builders to rank home features from 1 to 5 on how likely they were to include them this year in single-family homes they build this year.

View the Top #Home Features By State

Realtor.com® researchers recently analyzed 1.5 million active single-family listings to compile a list of more than 200 individual home features from the listing descriptions. They narrowed down a list of the top five features for each state and then selected one with the most “local flavor.”

Ways to (Really) Save for a Down Payment

Forget skipping your daily latte. That tired tip will get you nowhere. Fast-track your way to home ownership with these tips for saving big.

Rents are projected to outpace home values by the end of the year,  so it’s a good time to consider buying a home. Fixed mortgage payments and a more stable market are other reasons to make the jump.

Goodbye, Summer … Hello, Savings

Summer may be made for relaxing, but if your lazy days included letting your financial goals slip, now’s the time to start getting back on track.