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  • Hebert McMahon Realty Group Blog

    Sunday, November 10, 2019   /   by Angel Murillo

    Millenials: Here's Why the Process is Worth It

    Millennials have waited longer than any other generation to become homeowners, but the wait for this cohort is just about over.
    According to National Mortgage News,

     “Millennials, those young adults now aged 23 to 38, are now entering their peak household formation and homebuying years.”

    If you’re a Millennial, you’re already well aware that you’re among a generation of those who favor fast-paced, real-time answers – and results. When you’re ready to make a decision, it’s go-time, and you probably want the latest technology at your fingertips to make it happen.
    National Mortgage News agrees, stating,

    “Millennials are different than previous generations—not only in their delayed homebuying but also in how they approach interactions with financial institutions, including mortgage lenders. Taking a picture of a check on their phone and depositing it without visiting a branch is not novel, it&rsq ...

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      first time home buyer, real estate, new home

    Tuesday, November 5, 2019   /   by Angel Murillo

    The #1 Reason to List Your House in the Winter

    Many sellers believe spring is the best time to put their homes on the market because buyer demand traditionally increases at that time of year. What they don’t realize is if every homeowner believes the same thing, then that’s when they’ll have the most competition.
    So, what’s the #1 reason to list your house in the winter? Less competition.
    Housing supply traditionally shrinks at this time of year, so the choices buyers have will be limited. The chart below was created using the months supply of listings from the National Association of Realtors.As you can see, the ‘sweet spot’ to list your house for the most exposure naturally occurs in the late fall and winter months (November – January). 
    Temperatures aren’t the only thing that heats up in the spring – so do listings!In 2018, listings increased from December to May. Don’t wait for these listings and the competition that comes with ...

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      house hunting, first time home buyer, real estate

    Tuesday, November 5, 2019   /   by Angel Murillo

    How to Determine If You Can Afford to Buy a House

    The gap between the increase in personal income and residential real estate prices has been used to defend the concept that we are experiencing an affordability crisis in housing today.
    It is true that home prices and wages are two key elements in any affordability equation. There is, however, an extremely important third component to that equation: mortgage interest rates.
    Mortgage interest rates have fallen by more than a full percentage point from this time last year. Today’s rate is 3.75%; it was 4.86% at this time last year. This has dramatically increased a purchaser’s ability to afford a home.
    Here are three reports validating that purchasing a home is in fact more affordable today than it was a year ago:
    CoreLogic’s Typical Mortgage Payment

    “Falling mortgage rates and slower home-price growth mean that many buyers this year are committing to lower mortgage payments than they would have faced for the same home last year. After rising ...

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      house hunting, first time home buyer, real estate

    Tuesday, November 5, 2019   /   by Angel Murillo

    4 Reasons To Buy a House This Fall

    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 Insights Report shows that home prices have appreciated by 3.6% over the last 12 months. The same report predicts prices will continue to increase at a rate of 5.8% over the next year.
    The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.
    2. Mortgage Interest Rates Are Projected to Increase Next Year
    The Primary Mortgage Market Survey from Freddie Mac indicates that interest rates for a 30-year mortgage have recently hovered just above 3.5%. This is great news for buyers in the market right now, because low interest rates increase your purchasing power – but don’t wait! Most experts predict rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac ...

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

    Friday, October 25, 2019   /   by Angel Murillo

    Think Prices Have Skyrocketed? Look at Rents.

    Much has been written about how residential real estate values have increased since the housing market started its recovery in 2012. However, little has been shared about what has taken place with residential rental prices. Let’s shed a little light on this subject.
    In the most recent Apartment Rent Report, RentCafe explains how rents have continued to increase over the last twelve months because of a large demand and a limited supply.

     “Continued interest in rental apartments and slowing construction keeps the national average rent on a strong upward trend.”

    Zillow, in its latest Rent Index, agreed that rents are continuing on an “upward trend” across most of the country, and that the trend is accelerating:

    “The median U.S. rent grew 2% year-over-year, to $1,595 per month. National rent growth is faster than a year ago, and while 46 of the 50 largest markets are showing deceleration in annual home value g ...

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      first time home buyer, new home, mortgage