Wednesday, October 21, 2020 / by Shane Anderson
Do You Have Enough Money Saved for a Down Payment?
One of the biggest misconceptions for first-time homebuyers is how much you’ll need to save for a down payment. Contrary to popular belief, you don’t always have to put 20% down to buy a house. Here’s how it breaks down.
A recent survey by Point2Homes mentions that 74% of millennials (ages 25-40) say they’re interested in purchasing a home over the next 12 months. The study notes, “88% say they have significantly less savings than the average national down payment amount, which is $62,600.”
Thankfully, $62,600 is not the amount every buyer needs for a down payment in the United States. There are many different options available, especially for first-time homebuyers (millennial or not). That amount can also be significantly less, depending on the purchase price of the house.
According to the National Association of Realtors (NAR), “The median ...
Friday, September 4, 2020 / by Shane Anderson
The 2020 Homebuyer Wish List [INFOGRAPHIC]
The word “home” is taking on a whole new meaning this year, and buyers are starting to look for new features as they re-think their needs and what’s truly possible.
From more outdoor space to virtual classrooms for their children, buyers have a growing list of what they’d like to see in their homes.
Let’s connect today if your needs have changed and your wish list is expanding too. ...
Friday, August 28, 2020 / by Shane Anderson
The Cost of Renting Vs. Buying a Home [INFOGRAPHIC]
The percentage of income needed to afford a median-priced home today is declining, while that for renting is on the rise.
This is making buying a home an increasingly attractive option for many people, especially with low mortgage rates driving purchasing power.
Let’s connect if you’d like expert guidance on exploring your homebuying options while affordability is high. ...
Tuesday, August 18, 2020 / by Shane Anderson
Sellers Are Returning to the Housing Market
In today’s housing market, it can be a big challenge for buyers to find homes to purchase, as the number of houses for sale is far below the current demand. Now, however, we’re seeing sellers slowly starting to come back into the market, a bright spark for potential buyers. Javier Vivas, Director of Economic Research at realtor.com, explains:
“Seller confidence has been improving gradually after reaching its bottom in mid-April, and now it appears to have reached an important recovery milestone…After five long months, sellers are back in the housing market; while encouraging, the improvement to new listings is only the first step in the long road to solving low inventory issues keeping many buyers at bay."
Even with the number of homes coming into the market, the available inventory is well below where it needs to be to satisfy buyer interest. The National Association of ...
Tuesday, August 4, 2020 / by Shane Anderson
Maryland offers an interesting blend of Northern and Southern life because of which thousands of people move to the Free State every year. It is steeped in history and offers the best of both worlds as far as the terrain is concerned. From beautiful mountains, infinite lakes, beaches, rivers, forests, to breathtaking valleys, the entire state is a sight to behold in itself.
But that is not all; the swanky, peaceful suburbs and its proximity to DC states such as Baltimore and Rockville make it extremely lucrative in the real estate market, with many A-list celebrities choosing Maryland as their abode. So, you have definitely made the right choice if you have decide to move to the state!
However, buying homes in Maryland can be a quite long-drawn process, given the competitive market. If you are looking for homes in Pasadena, MD, then you need all the help you can get to land a great deal that meets your expectations and does not overwhelmingly exceed your budget: ...