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Cameron Byington
Search For A Property
Cameron Byington
Blog
by Cameron Byington
September 07, 2016
There are some experts questioning whether the current pace of
residential home sales is sustainable. Are too many people buying homes
like in 2004-2006? Are we headed for another housing crisis? Actually,
if we look closely at the numbers, we can see that we are looking at a
very healthy real estate market.
Why the concern?
Some are looking at the last three years of home sales and comparing
them to the three years just prior to the housing bubble. Looking at the
graph below, we can understand that thinking.
However, if we go further back in history, we can see the real
picture. After taking out the “boom & bust” years, the pace of sales
is growing at a quite natural pace.
And new home sales are way below historic numbers. Trulia’s Chief Economist Ralph McLaughlin explains:
“Adjusted for population, [new home sales] are at
about 63% of their fifty-year . . .
August 31, 2016
by The KCM Crew
on August 31, 2016
in First Time Homebuyers, For Buyers, For Sellers, Housing Market Update, Move-Up Buyers, Pricing
There are some industry pundits claiming that residential home values have risen too quickly and that current levels are on the verge of another housing bubble. It is easy to see how this thinking has taken form if we look at a graph of home prices from 2000 to today. The graph definitely looks like a rollercoaster ride. And, as prices begin to reach 2006 levels again, it “seems logical” that the next part of the ride would be downhill. However, this graph includes the anomaly of the price bubble and the correction (the housing crash). What if the bubble & bust didn’t occur? Let’s assume that instead of the rise and fall in home prices that we saw last decade, we just had normal historic . . .
There are some industry pundits claiming that residential home values have risen too quickly and that current levels are on the verge of another housing bubble. It is easy to see how this thinking has taken form if we look at a graph of home prices from 2000 to today. The graph definitely looks like a rollercoaster ride. And, as prices begin to reach 2006 levels again, it “seems logical” that the next part of the ride would be downhill. However, this graph includes the anomaly of the price bubble and the correction (the housing crash). What if the bubble & bust didn’t occur? Let’s assume that instead of the rise and fall in home prices that we saw last decade, we just had normal historic . . .
June 15, 2016
by The KCM Crew
on June 7, 2016
in First Time Homebuyers, For Buyers
Agents, did you know you can share a personalized version of this post? Learn more!
There are many people sitting on the sidelines trying to decide if they should purchase a home or sign a rental lease. Some might wonder if it makes sense to purchase a house before they are married and have a family. Others may think they are too young. And still others might think their current income would never enable them to qualify for a mortgage. We want to share what the typical first-time homebuyer actually looks like based on the National Association of REALTORS most recent Profile of Home Buyers & Sellers. Here are some interesting revelations on the first time buyer: Bottom Line You may not be much different than many people who . . .
There are many people sitting on the sidelines trying to decide if they should purchase a home or sign a rental lease. Some might wonder if it makes sense to purchase a house before they are married and have a family. Others may think they are too young. And still others might think their current income would never enable them to qualify for a mortgage. We want to share what the typical first-time homebuyer actually looks like based on the National Association of REALTORS most recent Profile of Home Buyers & Sellers. Here are some interesting revelations on the first time buyer: Bottom Line You may not be much different than many people who . . .
June 15, 2016
by The KCM Crew
on June 8, 2016
in First Time Homebuyers, For Buyers, Move-Up Buyers
Agents, did you know you can share a personalized version of this post? Learn more!
According to the National Association of Realtors’ (NAR) 2015 Profile of Home Buyers and Sellers, single women made up 18% of all first-time homebuyers last year, second only to married couples who made up 54% of total buyers. Whether they are young, single and no longer want to rent, or newly divorced, the amount of single women becoming homeowners greatly outnumbers single males (11%). A survey of recent home buyers revealed some interesting trends about this rapidly growing group: Average Age: 32 years oldAverage Income: $49,400Single women are more likely to become preapproved for a mortgage in order to know their budget at the . . .
According to the National Association of Realtors’ (NAR) 2015 Profile of Home Buyers and Sellers, single women made up 18% of all first-time homebuyers last year, second only to married couples who made up 54% of total buyers. Whether they are young, single and no longer want to rent, or newly divorced, the amount of single women becoming homeowners greatly outnumbers single males (11%). A survey of recent home buyers revealed some interesting trends about this rapidly growing group: Average Age: 32 years oldAverage Income: $49,400Single women are more likely to become preapproved for a mortgage in order to know their budget at the . . .
June 15, 2016
by The KCM Crew
on June 13, 2016
in First Time Homebuyers, For Buyers, Move-Up Buyers
Agents, did you know you can share a personalized version of this post? Learn more!
We have reported many times that the American Dream of homeownership is alive and well. The personal reasons to own a home differ for each buyer, but there are many basic similarities. Eric Belsky is the Managing Director of the Joint Center of Housing Studies (JCHS) at Harvard University. He authored a paper on homeownership titled - The Dream Lives On: The Future of Homeownership in America. In his paper, Belsky reveals five financial reasons why 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 . . .
We have reported many times that the American Dream of homeownership is alive and well. The personal reasons to own a home differ for each buyer, but there are many basic similarities. Eric Belsky is the Managing Director of the Joint Center of Housing Studies (JCHS) at Harvard University. He authored a paper on homeownership titled - The Dream Lives On: The Future of Homeownership in America. In his paper, Belsky reveals five financial reasons why 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 . . .
June 10, 2016
Serious About Home Buying? Get Pre-Approved
by The KCM Crew
on June 9, 2016
in First Time Homebuyers, For Buyers, Move-Up Buyers
Agents, did you know you can share a personalized version of this post? Learn more!
In many markets across the country, the amount of buyers searching for their dream home greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search. But even if you are in a market that is not as competitive, knowing your budget will give you the confidence to know if your dream home is within your reach. Freddie Mac lays out the advantages of pre-approval in the My Home section . . .
In many markets across the country, the amount of buyers searching for their dream home greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search. But even if you are in a market that is not as competitive, knowing your budget will give you the confidence to know if your dream home is within your reach. Freddie Mac lays out the advantages of pre-approval in the My Home section . . .