Recently, Freddie Mac reported on the benefits of homeownership. According to their report, here are the five benefits that “should be at the top of everyone’s list.”
Homeownership can help you build equity over time.
Your monthly payments will remain stable.
You may have some tax benefits.
You can take pride in ownership.
Homeownership improves your community.
Let’s expand on each of Freddie Mac’s points:
Homeownership can help you build equity over time.
Every three years, the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a
In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 5%+ over the next twelve months. One major challenge in such a market is the bank appraisal.
If prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that recently closed) to defend the selling price when performing the appraisal for the bank.
Every month in their Home Price Perception Index (HPPI), Quicken Loans measures the disparity between what a homeowner who is seeking to refinance their home believes their house is worth, as compared to an appraiser’s evaluation of that same home.
According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.96%, which is still near record lows in comparison to recent history!
The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power.
Purchasing power, simply put, is the amount of home you can afford to buy for the budget you have available to spend. As rates increase, the price of the house you can afford will decrease if you plan to stay within a certain monthly housing budget.
The chart below shows what impact rising interest rates would have if you planned to purchase a home within the national median price range, and planned to
Homebuyers and agents alike often misunderstand when to include a deadline in their offer. I’ll go over two scenarios that highlight how to use the power of deadlines in this market.
Welcome to the latest episode of “What’s Working Now!”
Homebuyers and real estate agents alike often misunderstand the power of deadlines. Today, I’ll go over the pros and cons of including a deadline with your offer.
Recently, one of my buyers settled on a house that was brand new to the market. The house went up for sale on a Thursday, and the agent asked for offers by next week. My buyer really wanted this house, so I said, “If you write a compelling offer that is too good to be true, we can include a deadline and make them answer us tonight
In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their homes on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers.
Here are the top five reasons:
1. Exposure to Prospective Buyers
Recent studies have shown that 94% of buyers search online for a home. That is in comparison to only 16% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?
2. Results Come from the Internet
Where did buyers find the homes they actually purchased?
Not quite ready for market, Call Marjorie for a Sneak Peek!
3201 Garfield Street NW
Private oasis in the city, surrounded by trees. Elegant & updated 4 bedroom, 4.5 bath home, great for entertaining. Entry foyer, living room with recessed hearth and wood burning fireplace, family room with built-ins & wall of windows opens to back patio & veranda. Eat-in kitchen, large formal dining room with bay windows & library, excellent condition! Great location close to schools, restaurants, shops & between two Metros.
Not quite ready for "prime time" call Marjorie for a Sneak Preview 240-731-8079
3540 39th Street NW
Super bright 2 level, 2 bedroom, 2 full baths plus den. Two separate entrances, eat-in kitchen, living room & dining area, huge master bedroom with dressing area and lots of closet space. Pool, BBQ areas, tot lot, public tennis, dog park, garden & playground. Around the corner from the new Cathedral Commons Shopping Center. Grocery, pharmacy, restaurants and more. 1 dog plus 1 cat or 2 cats permitted.
Monthly condo fee: $798.00 includes management, general maintenance of common areas, landscaping, trash & snow removal, master insurance policy, reserves, gas, water & sewer.
From the owner: "I have lived at McLean Gardens for 10-years now and
Not quite ready for "show-time" in the process of staging & cleaning, give Marjorie a call 240-731-8079 for a "pre-market" preview.
Updated & expanded Tudor with 5 bedrooms & 5 1/2 baths. Entry foyer & sitting room with bay windows, living room with stone fireplace, formal dining room, gourmet kitchen & breakfast area, great room with wall of windows opens to large, maintenance free deck, private garden & detached garage. Close to restaurants & shops.
Visit www.4550Klingle.com for architectural photos and color floor plan.
Spacious one bedroom at the sought after Elizabeth condo. Updated kitchen, wood floors & great closet space. Luxury high rise at Metro with reserved parking, 24-hour front desk, beauty salon/ barber shop, convenience store, exercise room, library, meeting room, newspaper service, party room, indoor pool, sauna spa.
$888.67 per month includes water, sewer, heat, electricity, trash removal, snow removal, professional managmenet, maintenance, lawn care, master insturance policy, reserve fund and all amenities.
The National Association of REALTORS® surveyed their members for their monthly 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 sold in less than a month in 24 out of 50 states, and Washington D.C.
Homes typically went under contract in 27 days in May!
Thinking about buying or selling? You probably have questions. CLICK the link below for a free, confidential 17 minute conversation... LET'S TALK!
4601 North Park Avenue #409
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