Think All Millenials Live in Their Parent’s Basement? Think Again!

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According to the Census Bureau, millennials have overtaken baby boomers as the largest generation in U.S. History. Millennials, or America’s youth born between 1982-2000, now represent more than one quarter of the nation’s population, totaling 83.1 million.

There has been a lot of talk about how, as a generation, millennials have ‘failed to launch’ into adulthood and have delayed moving out of their family’s home. Some experts have even questioned whether or not millennials wantto move out.

The great news is that not only ...

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Buying a Home? 4 Demands to Make on Your Real Estate Agent

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Are you thinking of buying a home? Are you dreading having to walk through strangers’ houses? Are you concerned about getting the paperwork correct? Hiring a professional real estate agent can take away most of the challenges of buying. A great agent is always worth more than the commission they charge, just like a great doctor or great accountant.

You want to deal with one of the best agents in your marketplace. To do this, you must be able to distinguish ...

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How Long Do Families Stay in a Home?

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The National Association of Realtors (NAR) keeps historic data on many aspects of homeownership. One of the data points that has changed dramatically is the median tenure of a family in a home. As the graph below shows, for over twenty years (1985-2008), the median tenure averaged exactly six years. However, since 2008, that average is almost nine years – an increase of almost 50%.

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Buying is Now 37.7% Cheaper Than Renting in the US

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The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.

The updated numbers actually show that the range is an average of 17.4% less expensive in Honolulu (HI), all the way up to 53.2% less expensive in Miami & West Palm Beach (FL), and 37.7% nationwide!

Other interesting findings in the report include:

  • Interest rates have ...
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Worried About Your House Not Selling?

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Worried About Your House Not Selling?

If you are considering selling your home, you may be wondering how your home will really do in relation to the market. Although our market as a whole has been more favorable to sellers in the last few years, demand for an individual property will vary depending on supply of each particular type of home – price point, amenities, challenges, etc.

For example, if a home ...

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Changes Coming to USDA Loan Program

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Changes Coming to USDA Loan Program

 

The US Department of Agriculture is making some changes to its Single Family Housing Guaranteed Loan Program (also known as a USDA loan) effective October 16, 2016. These changes can mean big benefits for anyone considering a home purchase in a rural area in the coming year.

A USDA mortgage allows for a minimal cost of entry in order to make homeownership affordable and attractive in rural ...

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A Look at Inventory Levels…

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I consider myself a geek.  I love geeking out over numbers and in Real Estate there is no shortage of numbers to geek out over. For those of you that have read or watched my market updates in the past, you know that one of the indicators I like to watch is “Months of Inventory”.  This can help you figure out if you’re in a balanced market, a seller’s market or a buyer’s market. In general, 0-3 months worth of ...

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Preparing Your Home For Fall

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Preparing Your Home for Fall
I cannot believe that fall is upon us! Although we have had a wonderful summer, it is time to begin planning for fall maintenance on your home. The changes in the seasons can be tough for home structures, so to prevent surprises when your home is at its most vulnerable, take a day before autumn takes hold and prepare your home for the months ahead.
Roof and ...
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A Look at New Construction

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Housing Starts
With our population on the rise and housing demand high across the country, you might be wondering why builders just don’t build more homes to satiate the demand. According to the New York Times, the United States added 1.24 million households per year on average between 2000 and 2007. Then add in the average 300,000 homes that need to be repaired or replaced and we get about 1.5 ...
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Preparing for Multiple Offers – The Pros and Cons of an Offer Review Date

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Preparing for Multiple Offers – The Pros and Cons of an Offer Review Date

Buyers are out and demand for homes is high! When it is time to list your property and if multiple offers are expected, there will be a number of issues and strategy for us to consider. One of the primary issues is whether or not to have an offer review date, or a date in which ...

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