Friday, October 25, 2019 / by Angel Murillo
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
Wednesday, October 23, 2019 / by Angel Murillo
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
Tuesday, October 22, 2019 / by Angel Murillo
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 ...
Thursday, October 17, 2019 / by Angel Murillo
If you’re searching for a home online, you’re not alone; lots of people are doing it. The question is, are you using all of your available resources, and are you using them wisely? Here’s why the Internet is a great place to start the home-buying process, and the truth on why it should never be your only go-to resource when it comes to making such an important decision.
According to the National Association of Realtors (NAR), the three most popular information sources home buyers use in the home search are:
Online website (93%)
Real estate agent (86%)
Mobile/tablet website or app (73%)
Clearly, you’re not alone if you’re starting your search online; 93% of home buyers are right there with you. The even better news: 86% of buyers are also getting their information from a real estate agent at the same time.
Here are 3 top reasons why using a real estate professional in addition to a digital search is key:
1. There&rsq ...
Wednesday, October 16, 2019 / by Angel Murillo
When people talk about homeownership and the American Dream, much of the conversation revolves around the financial benefits of owning a home. However, two recent studies show that the non-financial benefits might be even more valuable.
In a recent survey, Bank of America asked homeowners: “Does owning a home make you happier than renting?” 93% of the respondents answered yes, while only 7% said no. The survey also revealed:
More than 80% said they wouldn’t go back to renting
88% agreed that buying a home is the “best decision they have ever made”
79% believed owning a home has changed them for the better
Those surveyed talked about the “emotional equity” that is built through homeownership. The study says more than half of current homeowners define a home as a place to make memories, compared to 42% who view a home as a financial investment. Besides building wealth, the survey also showed that homeow ...