Sunday, July 22, 2018 / by Carl Gentile
First Time Home Buyers Continue to Put Down Less than 6%
According to the Realtors Confidence Index from the National Association of Realtors, 61% of first-time homebuyers purchased their homes with down payments below 6% in 2017.
Many potential homebuyers believe that a 20% down payment is necessary to buy a home and have disqualified themselves without even trying, but in March, 71% of first-time buyers and 54% of all buyers put less than 20% down.
Ralph McLaughlin, Chief Economist and Founder of Veritas Urbis Economics, recently shed light on why buyer demand has remained strong,
“The fact that we now have four consecutive quarters where owner households increased while renters households fell is a strong sign households are making the switch from renting to buying.
Households under 35 – which represent the largest potential pool of new homeowners in the U.S. – have shown some of the lar ...
Sunday, July 01, 2018 / by Carl Gentile
Next Recession 2020? What Will Be The Impact?
Economists and analysts know that the country has experienced economic growth for almost a decade. They also know that a recession can’t be too far off. A recent report by Zillow Research shed light on a survey conducted by Pulsenomics in which they asked economists, investment strategists and market analysts how they felt about the current housing market. That report revealed the possible timing of the next recession:
“Experts largely expect the next recession to begin in 2020.”
That timing concurs with a recent survey of economists by the Wall Street Journal:
“The economic expansion that began in mid-2009 and already ranks as the second-longest in American history most likely will end in 2020 as the Federal Reserve raises interest rates to cool off an overheating economy, according to forecasters surveyed.”
Here is a graph comparing the opini ...
Wednesday, June 27, 2018 / by Carl Gentile
If you’ve entered the real estate market as a buyer or a seller, you’ve inevitably heard the mantra “location, location, location” in reference to identical homes increasing or decreasing in value based on where they’re located.
In today’s housing market where home prices are appreciating quickly, it’s important to know that not every home appreciates at the same rate. The map below demonstrates that point on a state-by-state basis using data from the National Association of Realtors.
Demand often dictates value, even for houses in the same area of the country! High demand for starter and trade-up homes have driven prices up in these categories by nearly 10% over the past year, while those in the premium markets have appreciated at closer to 6%.
If you are debating whether or not to buy and/or sell a home this year, let’s get together to help you figure out exactly what’s going ...
Tuesday, June 26, 2018 / by Carl Gentile
Palm Beach County Events || July 2018
Looking for something to do this year during the month of July? Then look no further than some of our top events taking place in Palm Beach County for the month of July in 2018. Palm Beach County always has something great taking place for entertainment with your loved ones and family.
Fourth on Flagler
Bring the family and enjoy a supersized celebration in the Palm Beaches with 4th on Flagler, featuring waterfront activities, live music and an Independence Day extravaganza. From fireworks to live music. If you're planning to celebrate America's birthday, you won't want to miss this event of dazzles with fireworks spectacular over the downtown West Palm Beach waterfront. It is going to be bigger than ever this year to celebrate its 30th anniversary.
Artigas will once again be held over President's Day Weekend, but you won't have to spend a lot of presidents with its free parking, free shuttle service and free childre ...
Monday, June 25, 2018 / by Carl Gentile
You DO NOT Need 20% Down to Buy Your Home NOW
The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. The results of the survey show that the main reason why non-homeowners do not own their own homes is because they believe that they cannot afford them.
This brings us to two major misconceptions that we want to address today.
1. Down Payment
A recent survey by Laurel Road, the National Online Lender and FDIC-Insured Bank, revealed that consumers overestimate the down payment funds needed to qualify for a home loan.
According to the survey, 53% of Americans who plan to buy or have already bought a home admit to their concerns about their ability to afford a home in the current market. In addition, 46% are currently unfamiliar with alter ...