Saturday, April 2, 2016

2016 Home Sales Doing Just Fine!!

Some of the housing headlines are causing concern for some consumers who are in the process of either buying or selling a home. Pundits are concerned over the lack of new construction or the month-over-month sales numbers. Let’s set the record straight; 2015 was a good year for residential real estate in the United States and 2016 is starting out stronger.

Here is a graph of total homes sold (new construction and existing homes) in the first two months in 2016 compared to last year:

Will this momentum continue?

If we look at foot traffic (the number of purchasers currently out looking at homes), we can see that the spring buying market has started early and all indicators point to the fact that we may have the best spring in over a decade.

Bottom Line

The 2016 housing market started out well and looks to be gaining steam. If you are thinking of buying or selling a home, now may be a great time.

www.PattiLee.Properties

www.WiseRealEstateTX.com

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Friday, April 1, 2016

Put Your Housing Cost To Work For You!

by The KCM Crew

There are many young people debating whether they should renew the lease on their apartment or sign a contract to purchase their first home. As we have said before, mortgage interest rates are still near historic lows and rents continue to rise.

Housing Cost & Net Worth

Whether you rent or buy, you have a monthly housing cost.

As a buyer, you are contributing to YOUR net worth.

Every mortgage payment is a form of what Harvard University’s Joint Center for Housing Studies calls “forced savings.”

“Since many people have trouble saving and have to make a housing payment one way or the other, owning a home can overcome people’s tendency to defer savings to another day.”

The principal portion of your mortgage payment helps build your net worth through building the equity you have in your home.

As a renter, you are contributing to YOUR LANDLORD’S net worth.

Below is an example of the home equity that would be accrued over the course of the next five years if you had purchased a home in January; based on the results of theHome Price Expectation Survey.

In this example, simply by paying your mortgage, you would have increased your net worth by over $44,000!

Bottom Line

Use your monthly housing cost to your advantage! Meet with a local real estate professional who can explain the opportunities available in your market.

www.PattiLee.Properties

www.WiseRealEstateTX.com

EMAIL