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House Hunting | Rhonda Hebert Group Blog

Sunday, November 17, 2019   /   by Angel Murillo

This is Not 2008 All Over Again: The Mortgage Lending Factor

Some are afraid the real estate market may be looking a lot like it did prior to the housing crash in 2008. One of the factors they’re pointing at is the availability of mortgage money.
Recent articles about the availability of low-down payment loans and down payment assistance programs are causing concern that we’re returning to the bad habits of a decade ago. Let’s alleviate the fears about the current mortgage market.
The Mortgage Bankers’ Association releases an index several times a year titled: The Mortgage Credit Availability Index (MCAI). According to their website:
“The MCAI provides the only standardized quantitative index that is solely focused on mortgage credit. The MCAI is…a summary measure which indicates the availability of mortgage credit at a point in time.”
Basically, the index determines how easy it is to get a mortgage. The higher the index, the more available the mortgage credit.
Here is a graph ...

  house hunting, first time home buyer, real estate

Sunday, November 17, 2019   /   by Angel Murillo

VA Loans by the Numbers (Infographics)

Some Highlights:
The Veterans Administration (VA) Home Loan is a benefit that is available to more than 22 million veterans and 2 million active duty service members to help them achieve the dream of homeownership.
In 2018, $161 billion was loaned to veterans and their families through the program.
In the same year, the average loan amount was $264,197 and 610,513 loans were guaranteed. ...

  house hunting, first time home buyer, real estate

Sunday, November 17, 2019   /   by Angel Murillo

The Cost of Renting vs. Buying a House

Some Highlights:
Historically, the choice between renting and buying a home has been a tough decision.
Looking at the percentage of income needed to rent a median-priced home today (27.7%) vs. the percentage needed to buy a median-priced home (17.5%), the choice is clear.
Every market is different. Before you renew your lease, find out if you can put your housing costs to work by buying a home this year. ...

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

Friday, November 15, 2019   /   by Angel Murillo

Buyer Demand Growing in Every Region

Buyers are out in full force this fall, increasing the demand for homebuying in all four regions of the country.
According to the latest ShowingTime Showing Index,

“Home showing activity was up again nationwide with a 4.6 percent rise in traffic, as the traditionally slow fall season began with a marked boost in buyer interest.”

Buyers clearly have the right idea, as mortgage rates have dropped over a full percentage point since the fall of 2018. They’ve hovered in a historically low range since this summer, making the overall cost of homeownership significantly more attractive and affordable.
Here’s the breakdown of how ShowingTime reports current buyer traffic patterns across the country:

“The West Region, which until August had experienced 18 consecutive months of flagging home buyer traffic, lead the four regions in year-over-year improvement with an 8.9 percent increase in buyer activity.
The South&n. ...

  house hunting, first time home buyer, real estate

Tuesday, November 12, 2019   /   by Angel Murillo

Homeownership Rate Remains on the Rise

In the third quarter of 2019, the U.S. homeownership rate rose again, signaling another strong indicator of the current housing market.
The U.S. Census Bureau announced,
“The homeownership rate of 64.8 percent was not statistically different from the rate in the third quarter 2018 (64.4 percent), but was 0.7 percentage points higher than the rate in the second quarter 2019 (64.1 percent).”
Today there is still a lack of inventory, particularly at the entry and middle-level segments of the market, but that is not stopping buyers from making every effort to pursue homeownership. The many financial and non-financial benefits continue to drive the American Dream and will likely do so for generations to come.
Bottom Line
If you’re thinking of buying a home, let’s get together to make your dream a reality.
Cheers,
The Hebert McMahon Realty Group ...

  house hunting, first time home buyer, real estate

Rhonda Hebert Group
Rhonda Hebert, Thomas Sitterly, Katie LeWallen
858-945-0644
858-847-8069
CA DRE# 01372413
CA DRE #02078034
CA DRE #02078034

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