Urban Institute recently released a report entitled, “Barriers to Accessing Homeownership,” which revealed that “eighty percent of consumers either are unaware of how much lenders require for a down payment or believe all lenders require a down payment above 5 percent.”
Myth #1: “I Need a 20% Down Payment”
Buyers often overestimate the down payment funds needed to qualify for a home loan. According to the same report:
“Consumers are often unaware of the option to take out low-down-payment mortgages. Only 19% of consumers believe lenders would make loans with a down payment of 5% or less… While 15% believe lenders require a 20% down payment, and 30% believe...
- “The majority of millennials said they consider owning a home more sensible than renting for both financial and lifestyle reasons — including control of living space, flexibility in future decisions, privacy and security, and living in a nice home.”
- The top reason millennials choose to buy is to have control over their living space, at 93%.
- Many millennials who rent a home or apartment prior to buying their own homes dream of the day when they will be able to paint the walls whatever color they’d like, or renovate an outdated part of their living space.
Contact East Bay Modern Real Estate, experienced ...
Many people wonder whether they should hire a real estate professional to assist them in buying their dream homes or if they should first try to go through the buying process on their own. In today’s market: you need an experienced professional!
You Need an Expert Guide If You Are Traveling a Dangerous Path
The field of real estate is loaded with landmines; you need a true expert to guide you through the dangerous pitfalls that currently exist. Finding a home that is priced appropriately and is ready for you to move into can be tricky. An agent listens to your ...
Beautiful, turn-key home in rural setting; perfect for downsizers, City folks looking for weekend get-away or anyone who loves the outdoors, nature and being in close proximity to Sears Point Raceway, Sonoma and Napa Wine Country or commuting to work or school in Novato, North to Petaluma or Santa Rosa, East to Solano or South to Southern Marin or San Francisco. Hiking, biking, bird watching….are just outside the front door.
This 4 bedroom/2.5...
According to the National Association of Realtors’ latest Realtors Confidence Index, 61% of first-time homebuyers purchased their homes with down payments below 6% from October 2016 through November 2017.
Many potential homebuyers believe that a 20% down payment is necessary to buy a home and have disqualified themselves without even trying. The median down payment...
It is common knowledge that a great number of homes sell during the spring-buying season. For that reason, many homeowners hold off on putting their homes on the market until then. The question is whether or not that will be a good strategy this year.
The other listings that do come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market in the spring as compared to the rest of the year? The National Association of Realtors (NAR) recently revealed the months in which most people listed their homes for sale in 2017. Here is a graphic showing the results:
- The National Association of Realtors surveyed their members & released the findings of their Annual Profile of Home Staging.
- 50% of staged homes saw a 1-10% increase in dollar value offers from buyers.
- 77% of buyer’s agents said staging made it easier for buyers to visualize the home as their own.
- The top rooms to stage in order to attract more buyers are the living room, master bedroom, kitchen, and dining room.
Contact East Bay Modern Real Estate, experienced East Bay Realtors, for help...
217 Picnic Avenue San Rafael - Off Market Gem!
Timing truly is everything! Working with buyers in a sellers market can drive even the most patient clients nuts! It's our job, as their advocate and realtor, to minimize the stress of finding their perfect home. Buyers who are ready to purchase really just want to find that home that speaks to them when they walk in the door. Unfortunately that home might be speaking to a dozen other buyers or the house isn't their dream home and they might be forcing the conversation.
Throughout the life of working with a buyer to find and purchase a home I focus on keeping their hope alive. They might waiver, get frustrated, take a break or even fire you along the way but I never lose sight that their perfect house is out there. If they can't always see it, I make sure I can.
The housing crisis is finally in the rearview mirror as the real estate market moves down the road to a complete recovery. Home values are up, home sales are up, and distressed sales (foreclosures and short sales) have fallen to their lowest points in years. It seems that the market will continue to strengthen in 2018.
However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout the winter, supply is not keeping up.
- Buyer demand continues to outpace the supply of homes for sale which means that buyers are often competing with one another for the few listings that are available!
- Housing inventory is still under the 6-month supply needed to sustain a normal housing market.
- Perhaps the time has come for you and your family to move on and start living the life you desire.
Contact the Marin Modern Team, your Marin County real estate connection, for assistance buying or selling a home in Marin County California.