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Found 94 entries published by Cindy Allen.

How much does it cost to buy a home in Keller?

Over Half of All Buyers Are Surprised by Closing Costs 

According to a recent survey conducted by ClosingCorp, over half of all homebuyers are surprised by the closing costs required to obtain their mortgage.  There's no reason this should happen.  EVERY good real estate agent should be able to figure your numbers on the fly.  And if they haven't sat you down for that discussion you need to find out why. 

After surveying 1,000 first-time and repeat homebuyers, the results revealed that 17% of homebuyers were surprised that closing costs were required at all, while another 35% were stunned by how much higher the fees were than expected.

“Homebuyers reported being most surprised by mortgage insurance, followed by bank fees and points, taxes,

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Selling Your Keller area home?

Thinking of Selling? Do it TODAY!!

That headline might be a little aggressive. However, as the data on the 2017 housing market begins to roll in, I can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME!

The February numbers are not in yet, but the January numbers were sensational. Lawrence Yun, Chief Economist for the National Association of Realtors, said:

“Much of the country saw robust sales activity last month as strong hiring and improved consumer confidence at the end of last year appear to have sparked considerable interest in buying a home. Market challenges remain, but the housing market is off to a prosperous start as homebuyers staved off inventory levels that are far from adequate…”

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Keller Home Prices and Family Wealth

The Connection Between Home Prices & Family Wealth

 

How about earning a projected $43,000. increase in equity, before mortgage payments, on a $250,000. house over the next 5 years.... Considering an FHA downpayment is just 3.5% - $8750 to get in... Where else could you get that kind of return?

Over the next five years, national home prices are expected to appreciate 3.22% per year on average and to grow by 17.3% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.  Southlake, Grapevine, Trophy Club,  and surrounding areas are expected to do even better. 

So, what does this mean for homeowners and their equity position?

As an example, let’s assume a young couple

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Southlake home seller advice

If Your Home Hasn’t Sold Yet… Check the Price!

The residential housing market has been hot. Home sales have bounced back solidly and are now at their second highest pace since February 2007. Demand has remained strong throughout the winter as many real estate professionals are reporting bidding wars with many homes selling above listing price. What about your house?

If your house hasn’t sold, it is probably because of the price.

If your home is on the market and you are not receiving any offers, look at your price. Pricing your home just 10% above market value dramatically cuts the number of prospective buyers that will even see your house. See chart below.

Impact of home price on visibility

Bottom Line

The housing market is hot. If you are not seeing the results you

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Keller Home Buyers Impacted By Rising Interest Rates


Mortgage Rates Impact on 2017 Home Values

There is no doubt that historically low mortgage interest rates were a major impetus to housing recovery over the last several years. However, many industry experts are showing concern about the possible effect that the rising rates will have moving forward.

The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are all projecting that mortgage interest rates will move upward in 2017. Increasing interest rates will definitely impact purchasers and may stifle demand.

In a recent study of industry experts, “rising mortgage interest rates, and their impact on mortgage affordability” was named by 56% as the force they think will have the most significant impact

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So You Want to Find Your Dream Home

3 Questions to Ask If You Want to Buy Your Dream Home

If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family will have your best interest at heart, they may not be fully aware of your needs and what is currently happening in the real estate market.

Ask yourself the following 3 questions to help determine if now is a good time for you to buy in today’s market.

1. Why am I buying a home in the first place?

This is truly the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with money.

For example, a survey by Braun showed that over 75% of parents say “their

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Great News About Rising Home Prices for Homeowners

The Great News About Rising Prices for Homeowners

Recently there has been a lot of talk about home prices and if they are accelerating too quickly. As we mentioned before, in some areas of the country, seller supply (homes for sale) cannot keep up with the number of buyers out looking for a home, which has caused prices to rise.

The great news about rising prices, however, is that according to CoreLogic’s US Economic Outlook, the average American household gained over $11,000 in equity over the course of the last year, largely due to home value increases.

The map below was created using the same report from CoreLogic and shows the average equity gain per mortgaged home from June 2015 to June 2016 (the latest data available).

Average Equity Gain Per Homeowner

 

For

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Rent verses Buy

Some Highlights:

  • Historically, the choice between renting or buying a home has been a close decision.
  • Looking at the percentage of income needed to rent a median-priced home today (30%), vs. the percentage needed to buy a median-priced home (15%), the choice becomes obvious.
  • Every market is different. Before you renew your lease again, find out if you could use your housing costs to own a home of your own!
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Housing Market Moving into Buy Territory

Answering The Buy or Rent Question  

According to the Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, the U.S. housing market has continued to move deeper into buy territory, supporting the belief that housing markets across the country remain a sound investment.

The BH&J Index is a quarterly report that attempts to answer the question:

In today’s housing market, is it better to rent or buy a home?

The index examines the entire US housing market and then isolates 23 major cities for comparison. The researchers “measure the relationship between purchasing property and building wealth through a buildup in equity versus renting a comparable property and investing in a portfolio of stocks and bonds.”

While most of the metropolitan

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