January, 2017 RSS Icon
Found 12 entries for January, 2017.

Thinking of Seller Keller TX home?

Thinking of Selling? Why Now is the Time

It is common knowledge that a large number of homes sell during the spring-buying season. For that reason, many homeowners hold off on putting their homes on the market until then. The question is whether or not that will be a good strategy this year.

The other listings that do come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market in the spring, as compared to the rest of the year? The National Association of Realtors (NAR) recently revealed the months in which most people listed their homes for sale in 2016. Here is a graphic showing the results:

Most popular months to sell your Keller TX home

The three months in the second quarter of the year (represented in red) are

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Tips for selling your home

Highlights:

  • When listing your house for sale your top goal will be to get the home sold for the best price possible!
  • There are many small projects that you can do to ensure this happens!
  • Your real estate agent will have a list of specific suggestions for getting your house ready for market and is a great resource for finding local contractors who can help!
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Baby-Boomers-Buy-New-Homes

Top 3 Things Second-Wave Baby Boomers Look for in a Home

According to data from the U.S Census bureau, there are approximately 76.4 million baby boomers living in the United States today. Contrary to what many think, there are very different segments within this generation, and one piece that sets them apart are their housing needs.

John McManus, editorial director of Hanley Wood’s Residential Group says his company “is focusing on the preferences of the younger half, or second-wave baby boomers, as they exhibit different needs than the older boomers.”

What are ‘second-wave baby boomers’ looking for?

McManus says, “They are seeking a fun, dynamic lifestyle with a home that can also adjust to their changing needs in the future. Living space

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Will Housing Affordability Be A Challenge in 2017

Will Housing Affordability Be a Challenge in 2017?

Thursday January 19th, 2017 First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers
Some industry experts are saying that the housing market may be heading for a slowdown in 2017 based on rising home prices and a jump in mortgage interest rates. One of the data points they use is the Housing Affordability Index, as reported by the National Association of Realtors (NAR).

Here is how NAR defines the index:

The Housing Affordability Index measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national level based on the most recent price and income data.”


Basically, a value of 100 means a family earning the median

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FHA Reducing Mortgage Insurance Premiums

FHA Reduces Mortgage Insurance Premiums (MIP)

Starting January 27, 2017, mortgage insurance premiums (MIP) on most FHA-backed loans will be lowered by 25 basis points.  This means that borrowers who close on an FHA mortgage on or after January 27th will pay 0.25% less for the MIP. 

With this reduction in MIP cost, more homebuyers should be able to take advantage of pursuing an FHA loan to achieve their dream of homeownership.  According to HUD, FHA’s lower premium rates are projected to save new FHA-insured homeowners an average of $500 this year.

Bottom Line

If you're not sure what type of loan may be best for you, give me a shout.  I'm happy to walk you through "Mortgage 101" so you'll have enough information to make the choice that's

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Home Buyers Should Get Mortgage Preapproval

Why Pre-Approval Should Be Your First Step

In many markets across the country, the number of buyers searching for their dream homes 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.

Even if you are in a market that is not as competitive, knowing your budget will give you the confidence of knowing if your dream home is within your reach.

Freddie Mac lays out the advantages of pre-approval in the My Home section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin

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Experts Predict Price Appreciation to Slow

Some Highlights:

  • CoreLogic’s latest Home Price Index shows that prices rose by 7.1% across the United States year-over-year.
  • With mortgage interest rates rising in the short term, CoreLogic believes price appreciation will slow to 4.7% by this time next year.
  • 49 out of 50 states, and the District of Columbia, all had positive appreciation over the last 12 months, with the only exception being the state of Connecticut, which experienced a -0.5% appreciation.
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Move Up home

Is This the Year to Move Up to Your Dream Home? If So, Do it Early

It appears that Americans are regaining faith in the U.S. economy. The following indexes have each shown a dramatic jump in consumer confidence in their latest surveys:

  1. The University of Michigan Consumer Sentiment Index
  2. National Federation of Independent Businesses' Small Business Optimism Index
  3. CNBC All-America Economic Survey
  4. The Conference Board Consumer Confidence Survey

It usually means good news for the housing market when the country sees an optimistic future. People begin to dream again about the home their family has always wanted, and some make plans to finally make that dream come true.

If you are considering moving up to your dream home, it may

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Current Pace of Home Sales

Is the Current Pace of Home Sales Sustainable?

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.

Existing Home Sales Numbers

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.

History of existing home sales

And new

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3 Tips for Making Your Dream of Buying a Home Come TrueSome Highlights:

  • Realtor.com recently shared "5 Habits to Start Now If You Hope to Buy a Home in 2017."
  • Setting up an automatic savings plan that saves a small amount of every check is one of the best ways to save without thinking a lot about it.
  • Living within a budget now will help you save money for down payments and pay down other debts that might be holding you back.
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