Existing Home Sales Surge into Summer
Existing Home Sales reached their third highest mark this year in May.
Inventory of homes for sale has dropped 8.4% since last year, marking the 24th consecutive month of year-over-year declines.
NAR’s Chief Economist, ...
Posted by Brent Wells on June 30, 2017 in Buying a Home
75% of Homeowners Think Now is a Good Time to Sell!
The National Association of Realtors (NAR) recently released the findings of their Q2 Homeownership Opportunities and Market Experience (HOME) Survey. The report covers core topics like, “if now is a good time to buy or sell a home, the ...
Posted by Brent Wells on June 29, 2017 in Selling Your Home
Buyer's Market Helps Premium Home Sales Soar
We previously reported how a shortage of inventory in the starter and trade-up home markets is driving prices up and causing bidding wars, creating a true seller’s market. At the same time, in the premium home market, an over-abundance of ...
Posted by Brent Wells on June 28, 2017 in Buying a Home
Pre-Approval Should Always Be Your First Step
In McKinney, Frisco, Plano and many other Collin County cities, 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 ...
Posted by Brent Wells on June 27, 2017 in Mortgages
2 Myths Holding Back Home Buyers
In Realtor.com’s recent article, “Home Buyers’ Top Mortgage Fears: Which One Scares You?” they mention that “46% of potential home buyers fear they won’t qualify for a mortgage to the point that they don’t ...
Posted by Brent Wells on June 26, 2017 in Buying a Home
Best Neighborhoods In Prosper Tx
Prosper Texas was official established in 1914 and consists of roughly 23 square miles and 22,000 residents and about 8,000 homes. This beautiful north Texas town sits in both Denton and Collin counties and has amazing homes on acerage lots and the ...
Posted by Brent Wells on June 25, 2017 in Buying a Home
The Cost of Renting vs. Buying in the US
Historically, the choice between renting or buying a home has been a tough decision.
Looking at the percentage of income needed to rent a median-priced home today (29.2%) vs. the percentage needed to buy a median-priced home (15....
Posted by Brent Wells on June 23, 2017 in Buying a Home
The Supply & Demand Problem Plaguing New Construction
Many real estate economists have called on new home builders to ramp up production to help relieve the shortage of inventory of homes for sale throughout the United States. The added inventory would no doubt aid buyers in their search to secure ...
Posted by Brent Wells on June 21, 2017 in Building A Home
Do You Know How Much Equity You Have in Your Home?
CoreLogic’s latest Equity Report revealed that 91,000 properties regained equity in the first quarter of 2017. This is great news for the country, as 48.2 million of all mortgaged properties are now in a positive equity ...
Posted by Brent Wells on June 20, 2017 in Selling Your Home
Buying Is Now 33.1% Cheaper Than Renting in the US
The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.
The updated numbers actually ...
Posted by Brent Wells on June 19, 2017 in Buying a Home
Top Home Renovations for ROI
Whether you are selling your home, just purchased your first home, or are a homeowner planning to stay put for a while, there is value in knowing which home improvement projects will net you the most Return On Investment (ROI)....
Posted by Brent Wells on June 16, 2017 in Buying a Home
Are Home Prices Approaching Bubble Territory?
As home values continue to rise, some are questioning whether we are approaching another housing bubble. Zillow just reported that:
“National home values have surpassed the peak hit during the housing bubble and are at their highest value in ...
Posted by Brent Wells on June 15, 2017 in Buying a Home
Homeownership Is a Good Financial Investment!
According to a recent report by Trulia, “buying is cheaper than renting in 100 of the largest metro areas by an average of 33.1%.” The report may have some people thinking about buying a home instead of signing ...
Posted by Brent Wells on June 14, 2017 in Buying a Home
The TRUTH Behind the RENT vs. BUY Debate
In a blog post published last Friday, CNBC’s Diana Olnick reported on the latest results of the FAU Buy vs. Rent Index. The index examines the entire US housing market and then isolates 23 major markets for comparison. The researchers at FAU ...
Posted by Brent Wells on June 14, 2017 in Buying a Home
4 Reasons to Buy This Summer!
Here are four great reasons to consider buying a home today, instead of waiting.
1. Prices Will Continue to Rise
CoreLogic’s latest Home Price Index reports that home prices have appreciated by 7.1% over the last 12 months. The same report ...
Posted by Brent Wells on June 12, 2017 in Buying a Home
69% of Buyers are Wrong About Down Payment Needs
According to a recent survey conducted by Genworth Financial Inc. at the Annual Mortgage Bankers’ Association Secondary Market Conference, mortgage professionals say that first-time buyers still believe a 20% down payment is necessary to buy ...
Posted by Brent Wells on June 10, 2017 in Buying a Home
3 factors that may impact the sales price of your Prosper home
You can make all the necessary repairs to your home, clean it, stage it, maybe even remodel it. But there are some factors that may impact the eventual sales price of your home that are out of your control. So, regardless of how impeccably ...
Posted by Brent Wells on June 9, 2017 in Selling Your Home
The Interest Rate Impact
Some Highlights: Interest rates have come a long way in the last 30 years. The interest rate you secure directly impacts your monthly payment and the amount of house that you can afford if you plan to stay within a certain budget. Interest rates ...
Posted by Brent Wells on June 9, 2017 in Mortgages
Mortgage Interest Rates Reverse Course in 2017
To start the year, housing experts all agreed on one thing: 2017 was going to be the year we would see mortgage interest rates begin to rise. After years of historically low rates, and an improving economy, the question wasn’t if they would ...
Posted by Brent Wells on June 8, 2017 in Mortgages
If Your Prosper Home Hasn’t Sold Yet… Definitely Check the Price!
The residential housing market has been hot. Home sales have bounced back solidly and are now at their fourth highest pace over the past year. Demand has remained strong throughout spring as many real estate professionals are ...
Posted by Brent Wells on June 6, 2017 in Selling Your Home