Friday, August 21, 2015

Home prices Are Up in 93% of Markets



Home Prices Are Up in 93 % of Markets

  • The national median home price for Q2 is up 8.2% to $229,400
  • The income needed to afford the median home in each region is directly impacted by the amount of the down payment. The larger the down payment the lower the income needed to pay the monthly mortgage payment.
  • The West led the way with the highest median home price at $325,200.

 
This is great news as we continue to see a Seller's market, with Buyers continuing to be lured into the market by historically low interest rates! Buying or Selling it's a great time to enter the market! 

Friday, August 14, 2015

Foreclosure Inventory is at a Historical 7 Year Low!

Foreclosure Inventory is at a Historical 7 Year Low!

Some Highlights:

  • The number of homes in the US in some stage of foreclosure is down 28.9% to 472,000.
  • Only 3.5% of homes in the US are currently in serious delinquency.
  • Foreclosure Inventory levels hit the lowest level since January 2008 at 1.2% of all homes with a mortgage.




Friday, August 7, 2015

What You Need To Know About the Mortgage Process



What You Need To Know About the Mortgage Process


Some Highlights:

  • According to Freddie Mac, 40% of buyers are putting less than 10% down, with many putting down as little as 3%.
  • Have a budget and stick to it!
  • Know your credit score and history!
  • Reach out to a professional who can help you with the process!

Still have some questions? I partner with a wonderful lender who is very knowledgeable in his industry. He will take the time to answer your questions and will give you a realistic view of how much house you can reasonable afford and how much of a loan you could qualify for. Finding a solid lender before you start the search for your home takes the guess work out of the process.