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  • First Time Home Buyer | Hebert McMahon Realty Group Blog

    Friday, October 25, 2019   /   by Angel Murillo

    Buying a Home Can Be SCARY, Until You Know the FACTS! (Infographic)

    Some Highlights:
    Many potential homebuyers believe they need a 20% down payment and a 780 FICO® score to qualify to buy a home. This stops many people from even trying to jump into homeownership! Here are some facts to help take the fear out of the process:

    71% of buyers who purchased homes have put down less than 20%.
    78.1% of loan applications were approved last month.
    In September, the average credit score for approved loans was 737.

     The Hebert McMahon Realty Group

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      house hunting, first time home buyer, real estate, new home

    Friday, October 25, 2019   /   by Angel Murillo

    Homes Are Selling Quickly (INFOGRAPHIC)

    Some Highlights:

    The National Association of REALTORS® surveyed their members for the release of their Confidence Index.
    The REALTORS® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices, and market conditions.
    Homes across the country are selling quickly, in an average of just 31 days.
    49% of homes sold in less than a month.

    The Hebert McMahon Realty Group

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      first time home buyer, real estate, new home

    Wednesday, October 23, 2019   /   by Angel Murillo

    5 Reasons to Consider Living in a Multi generational Home

    Did you know that 1 in 6 Americans currently live in a multigenerational household?
    According to Generations United, the number of multigenerational households rose from 42.4 million in 2000 to 64 million in 2016. The 2018 Profile of Home Buyers and Sellers from the National Association of Realtors shows that 12% of all buyers have a multigenerational household.
    Why Are Many Americans Choosing to Live in a Multigenerational Household?
    The benefits to multigenerational living are significant. According to Toll Brothers,

    “In recent years, there’s been a steady rise in the number of multigenerational homes in America. Homeowners and their families are discovering new ways to get the most out of home with choices that fit the many facets of their lives.”

    The piece continues to explain the top 5 benefits of multigenerational living. Here is the list, and a small excerpt from their article:
    1. Shared Expenses

    “&hell ...

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      house hunting, real estate, first time home buyer

    Tuesday, October 22, 2019   /   by Angel Murillo

    3 Reasons This is NOT the 2008 Real Estate Market

    Today’s real estate market is nothing like the 2008 market. When an economic slowdown happens, it won’t resemble the last one.

    No one knows for sure when the next recession will occur. What is known, however, is that the upcoming economic slowdown will not be caused by a housing market crash, as was the case in 2008. There are those who disagree and are comparing today’s real estate market to the market in 2005-2006, which preceded the crash. In many ways, however, the market is very different now. Here are three suppositions being put forward by some, and why they don’t hold up.
    A critical warning sign last time was the surging gap between the growth in home prices and household income. Today, home values have also outpaced wage gains. As in 2006, a lack of affordability will kill the market.
    The “gap” between wages and home price growth has existed since 2012. If that is a sign of a recession, why didn’t we ...

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      real estate, first time home buyer, new home

    Monday, October 21, 2019   /   by Angel Murillo

    5 Tips for Starting Your Home Search

    In today’s market, low inventory dominates the conversation in many areas of the country. It can often be frustrating to be a first-time homebuyer if you aren’t prepared. Here are five tips from realtor.com’s article, “How to Find Your Dream Home—Without Losing Your Mind.”
    1. Get Pre-Approved for a Mortgage Before You Start Your Search
    One way to show you’re serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage. Even if you’re in a market that is not as competitive, understanding your budget will give you the confidence of knowing whether or not your dream home is within your reach. This will help you avoid the disappointment of falling in love with a home well outside your price range.
    2. Know the Difference Between Your ‘Must-Haves’ and ‘Would-Like-To-Haves’
    Do you really need that farmhouse sink in the kitchen to be happy with your home choice? W ...

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      house hunting, first time home buyer, mortgage