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Michael Jones

www.forsalegreensboro.com

My Blog

Greensboro North Carolina Ashcroft Park | Homeownership is a Dominant Gene

9/5/2018

Greensboro North Carolina Ashcroft Park | Homeownership is a Dominant Gene

 

At a local level in Greensboro North Carolina, buyer confidence remains strong with some changes that varies on the price level and whit type of houses they are looking for.     

Particularly in and around Ashcroft Park 27455 zip code. The addition of new store and business entities in the area makes Milestone one of the most busiest areas in Greensboro NC.      

As you are aware, for most families, choosing a new home is the biggest financial decision they will ever make and for that reason, there are many complicated decisions involved in choosing your new home. 

 

Today, I would like to talk to you about Homeownership is a Dominant Gene

 

There are many things that factor into the decision to buy a home. New research from the Urban Institute suggests that one of those things may be inherited from your parents.

 

Children are More Likely to Own a Home if Their Parents Did

According to an analysis of millennial homeowners, the homeownership rate of those whose parents rent their homes is 14.4%, while the rate amongst millennials whose parents are homeowners is 31.7%!

“A young adult’s odds of homeownership are highly correlated with their parent’s homeownership.

Without controlling for such factors as age, income, education, marital status, and race or ethnicity, there is a 17 percentage-point gap between the homeownership rate for young adults whose parents are renters and young adults whose parents are homeowners.”

The study also revealed that as a parent’s net worth increases, so does the likelihood that their child will own a home. These two findings are not surprising as we know from the Survey of Consumer Finances that a homeowner’s net worth is 44x greater than that of a renter.

So, a parent who is a homeowner will have more wealth which will, in turn, increase the chances that their children will own their own homes in the future.

Below is a breakdown of the relationship between a parent’s wealth and a millennial’s likelihood to own a home.

The Good News: The high homeownership rate amongst baby boomers (likely the parents of many millennials) is a great sign that millennials will want to own homes. We are already seeing this in the high-demand environment that we are currently experiencing in the starter and trade-up markets.

 

Bottom Line

Even though millennials took longer than many of the generations before them to start home searches of their own, the data shows that they will not be waiting much longer!

 

Source.. forsalegreensboro.com

 

If you want to find the best house for the money in Ashcroft Park in Greensboro North Carolina….

This is what we can do for you, 

We will prepare you a list of houses that fit your criteria and take the time to show all these houses to you, with no pressure and no hassle.

So please let us know when you are ready to get started

If you want to get started now, 

Please call us at 800-950-6453

Or text to: 336-750-6453

Email: mike@forsalegreensboro.com 

Thinking of selling your home?

Let Michael Jones take over the marketing of your property with our unique 99 STEPS system

- Call or text 336-750-6453 for more information.

 

Summerfield North Carolina Homes For Sale | Rents Are on The Rise: Donít Get Caught in The Rental Trap!

9/5/2018

Summerfield North Carolina Homes For Sale | Rents Are on The Rise: Don’t Get Caught in The Rental Trap!

 

If you are looking for a home in Summerfield North Carolina. Let us share a secret with you. When someone becomes a professional real estate agent, they make a commitment to their clients from the moment they first connect, whether it is, first-time homebuyer's, who are very excited to purchase their very own home.... or seasoned Investors who are trying to build equity with key purchases and increase their portfolios. What is important for you to know is that your main purpose is to find the right real estate professional that will dedicate time and energy to bring exactly what you are looking for. Take your time and pick the one that has that commitment deep in their hearts.

To show this commitment to my clients, We bring the latest technology, know-how and information allowing me to bring the best possible outcome on every real estate transaction we perform.

Today, I would like to talk to you about Rents Are on The Rise: Don’t Get Caught in The Rental Trap!

 

There are many benefits to homeownership, but one of the top benefits is protecting yourself from rising rents by locking in your housing cost for the life of your mortgage.

 

Don’t Become Trapped 

A recent article by Apartment List addressed rising rents by stating:

“Our national rent index is up 0.1 percent month-over-month, marking the sixth straight month of increasing rents. Year-over-year growth now stands at 1.2 percent.”

The article continues, explaining that:

“Rents increased month-over-month in 62 of the nation’s 100 largest cities, down significantly from the 85 cities that saw rents rise last month. That said, rents are still up year-over-year in most of the nation’s largest markets — 77 of the 100 largest cities have seen rents increase over the past twelve months.”

Additionally, Urban Land Magazine explained that,

“Currently, nearly half (47 percent) of renter households are cost burdened (i.e., paying more than 30 percent of income for housing), while 25 percent (totaling 11 million households) are severely cost burdened, paying over 50 percent of their total household income for rent.”

These households struggle to save for a rainy day and pay other bills, including groceries and healthcare.

 

It’s Cheaper to Buy Than Rent

As we have previously mentioned, 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 show that the range is an average of 2% less expensive in Honolulu (HI), all the way up to 48.9% less expensive in Detroit (MI), and 26.3% nationwide!

 

Know Your Options

Perhaps you have already saved enough to buy your first home. A nationwide survey of about 1,166 renters found that 34% said they rent because they cannot afford to buy, 29% said they cannot afford to buy where they live, and nearly a quarter (24%) were saving to buy.

Many first-time homebuyers who believe that they need a large down payment may be holding themselves back from their dream homes. As we have reported before, in many areas of the country, a first-time homebuyer can save for a 3% down payment in less than two years. You may have already saved enough!

 

Bottom Line

Don’t get caught in the trap that so many renters are currently in. If you are ready and willing to buy a home, find out if you are able. Let’s get together to determine if you can qualify for a mortgage today!

 

Source.. forsalegreensboro.com

 

To show my commitment to my clients, I will utilize the latest technology, know-how and information allowing me to bring you the best and highest offer for your house. 

To connect with me directly, 

Please call Mike Jones at 336-750-6453

Or via email:  mike@forsalegreensboro.com 

If you are thinking of selling your home in a more traditional way... Let Mike take over the marketing of your property with our unique 99 STEPS system 

 - Call or text 336-750-6453 for more information.

 

Summerfield North Carolina | 5 Reasons You Should Sell This Fall!

9/5/2018

Summerfield North Carolina | 5 Reasons You Should Sell This Fall!

 

At a local level in Summerfield North Carolina, buyer confidence remains strong with some changes that varies on the price level and what type of houses they are looking for.     

Particularly in and around Summerfield 27358 zip code. The addition of new store and business entities in the area makes Summerfield one of the most busiest areas in Greensboro NC.      

As you are aware, for most families, choosing a new home is the biggest financial decision they will ever make and for that reason, there are many complicated decisions involved in choosing your new home. 

Today, I would like to talk about 5 Reasons You Should Sell This Fall!

 

Here are five reasons why listing your home for sale this fall makes sense.

 

1. Demand Is Strong

The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase…and are in the market right now! In fact, more often than not, multiple buyers end up competing with each other to buy the same homes.

Take advantage of the buyer activity currently in the market.

 

2. There Is Less Competition Now 

Housing inventory is still under the 6-month supply needed for a normal housing market. This means that, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market. This is good news for homeowners who have gained equity as their home values have increased. However, additional inventory could be coming to the market soon!

Historically, a homeowner stayed in his or her home for an average of six years, but that number has hovered between nine and ten years since 2011. Many homeowners have a pent-up desire to move as they were unable to sell over the last few years because of a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move.

The choices buyers have will continue to increase. Don’t wait until this other inventory comes to market before you decide to sell.

 

3. The Process Will Be Quicker

Today’s competitive environment has forced buyers to do all that they can to stand out from the crowd, including getting pre-approved for their mortgage financing. This makes the entire selling process much faster and much simpler as buyers know exactly what they can afford before home shopping. According to Ellie Mae’s latest Origination Insights Report, the average time it took to close a loan was 44 days.

 

4. There Will Never Be a Better Time to Move Up

If your next move will be into a premium or luxury home, now is the time to move up! The abundance of inventory available in these higher price ranges has created a buyer’s market for anybody looking to purchase these homes. This means that if you are planning on selling a starter or trade-up home, your home will sell quickly AND you’ll be able to find a premium home to call your own!

According to CoreLogic, prices are projected to appreciate by 5.1% over the next year. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.

 

5. It’s Time to Move on With Your Life 

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you feel you should?

Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.

 

Source.. forsalegreensboro.com

 

To show my commitment to my clients, I will utilize the latest technology, know-how and information allowing me to bring you the best and highest offer for your house. 

To connect with me directly, 

Please call Mike Jones at 336-750-6453

Or via email:  mike@forsalegreensboro.com 

If you are thinking of selling your home in a more traditional way... Let Mike take over the marketing of your property with our unique 99 STEPS system 

 - Call or text 336-750-6453 for more information.

 

Greensboro North Carolina Ashcroft Park | A+ Reasons to Hire a Real Estate Pro [INFOGRAPHIC]

9/5/2018

Greensboro North Carolina Ashcroft Park | A+ Reasons to Hire a Real Estate Pro [INFOGRAPHIC]

 

At a local level in Greensboro North Carolina, buyer confidence remains strong with some changes that varies on the price level and whit type of houses they are looking for.     

Particularly in and around Ashcroft Park 27455 zip code. The addition of new store and business entities in the area makes Milestone one of the most busiest areas in Greensboro NC.      

As you are aware, for most families, choosing a new home is the biggest financial decision they will ever make and for that reason, there are many complicated decisions involved in choosing your new home.   

   

Today I would like to talk to you about A+ Reasons to Hire a Real Estate Pro

 

Some Highlights:

 * Hiring a real estate professional to help you buy your dream home or sell your current house is one of the    most ‘educated’ decisions you can make!

 * A real estate professional has the experience needed to help you through the entire process.

 * Make sure that you hire someone who knows current market conditions and can simply and effectively explain    them to you and your family!

 

Source.. forsalegreensboro.com

 

If you want to find the best house for the money in Ashcroft Park in Greensboro North Carolina….

This is what we can do for you, 

We will prepare you a list of houses that fit your criteria and take the time to show all these houses to you, with no pressure and no hassle.

So please let us know when you are ready to get started

If you want to get started now, 

Please call us at 800-950-6453

Or text to: 336-750-6453

Email: mike@forsalegreensboro.com 

Thinking of selling your home?

Let Michael Jones take over the marketing of your property with our unique 99 STEPS system

- Call or text 336-750-6453 for more information.

 

Oak Ridge North Carolina Homes For Sale | Why are Existing Home Sales Down?

9/5/2018

Oak Ridge North Carolina Homes For Sale | Why are Existing Home Sales Down?

 

 If you are looking for a home in the Oak Ridge North Carolina. Let us share a secret with you. When someone becomes a professional real estate agent, they make a commitment to their clients from the moment they first connect, whether it is, first-time homebuyer's, who are very excited to purchase their very own home.... or seasoned Investors who are trying to build equity with key purchases and increase their portfolios. What is important for you to know is that your main purpose is to find the right real estate professional that will dedicate time and energy to bring exactly what you are looking for. Take your time and pick the one that has that commitment deep in their hearts.

To show this commitment to my clients, We bring the latest technology, know-how and information allowing me to bring the best possible outcome on every real estate transaction we perform.

Today, I would like to talk to you about Why are Existing Home Sales Down?

 

The latest Existing Home Sales Report issued by the National Association of Realtors (NAR) revealed that home sales have decreased for four consecutive months and are at their slowest pace in over two years. This has some industry leaders puzzled considering the fact that the economy is strengthening, unemployment is down, and wages are beginning to rise. This begs the question: “Where are the buyers?”

Actually, agents in the field of most communities are still seeing strong desire from prospective purchasers. They have a list of potential buyers ready to go if the right houses come on the market and they claim it is not a shortage of demand, but is instead a shortage of inventory that is causing the market to soften.

 

Why is there a shortage of inventory?

You only need to look at the graph below to understand:

New construction sales over the last ten years are far below historic numbers from 1995-2002.

A recent industry report looked at building permits and concluded:

“If construction over the past decade matched historic norms, accounting for population change, the country would have had 2.3 million more single-family home permits.”

That decade of not building enough homes is the primary reason for the concerns about today’s market.

 

Wait, weren’t we talking about ‘existing’ home sales?

Some may argue that NAR’s sales report deals with existing home sales and not new construction, and they would be correct. However, reports have shown that one of the main reasons why existing homeowners are not selling is because they can’t find homes that meet the needs of their current lifestyles. Historically, the upgrades in a newly constructed home were the answers to those needs.

Over the last decade, however, there were fewer homes built to satisfy this move-up seller. Consequently, there are many homeowners who stayed in their homes for a longer tenure, instead of putting their homes up for sale.

 

Bottom Line

As more new homes are being built, there will be more housing inventory to satisfy current demand which will cause prices to moderate and sales volumes to increase.

 

Source.. forsalegreensboro.com

 

If you want to find the best house for the money in Oak Ridge North Carolina….

This is what we can do for you, 

We will prepare you a list of houses that fit your criteria and take the time to show all these houses to you, with no pressure and no hassle.

So please let us know when you are ready to get started

If you want to get started now, 

Please call us at 800-950-6453

Or text to: 336-750-6453

Email: mike@forsalegreensboro.com 

Thinking of selling your home?

Let Michael Jones take over the marketing of your property with our unique 99 STEPS system

- Call or text 336-750-6453 for more information.

 

Sell My House in North Carolina | Top 3 Myths About Todayís Real Estate Market

9/5/2018

Sell My House in North Carolina | Top 3 Myths About Today’s Real Estate Market

 

Most real estate brokers and agents don't really have all the tools needed to provide 100% selling services to sellers that need to sell their houses  quick, for cash and at a fair price.   

This is why we have integrated fully with all the data on the MLS and became a real estate source to thousands of investors in the Piedmont Triad North Carolina region.   

In order for most consumers to take advantage of the competition between these investors, we've created the perfect system. If you are in the market to sell you home and you are in need for a fair offer  right away... you've come to the right place.   

We can provide customized innovation towards all  your real estate needs if you are a home seller.  

 

Today, I would like to talk to you about Top 3 Myths About Today’s Real Estate Market

 

There are many conflicting headlines when it comes to describing today’s real estate market. Some are making comparisons to the market we experienced 10 years ago and are starting to believe that we may be doomed to repeat ourselves. Others are just plain wrong when it comes to what it takes to qualify for a mortgage.

Today, we want to try and clear the air by shedding some light on what’s causing some of these headlines, as well as what’s truly going on.

 

Myth #1: We Are Headed for Another Housing Bubble

Home prices have appreciated year-over-year for the last 76 straight months. Many areas of the country are at or near their peak prices achieved before the last housing bubble burst. This has many worried that we are headed towards another housing bubble.

Reality: The biggest challenge facing today’s real estate market is a lack of homes for sale! Demand is strong, as many renters have come off the fence and are searching for their dream homes.

Historically, a normal market requires a 6-month supply of inventory in order for prices to rise with the rate of inflation. According to the National Association of Realtors (NAR) there is currently a 4.3-month supply of inventory.

The US housing market hasn’t had 6-months inventory since August 2012! The concept of supply and demand is what is driving home prices up!

 

Myth #2: The Rumored Recession Will Lead to Another Housing Market Crash

Economists and analysts know that the country has experienced economic growth for almost a decade. When this happens, they also know that a recession can’t be too far off. But what is a recession?

Merriam-Webster defines a recession as “a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two consecutive quarters.”

Reality: Recession DOES NOT equal housing crisis. Many people associate these two terms with one another because the last time we had a recession it was caused by a housing crisis. According to the Federal Reserve, over the last 40 years, there have been six recessions. In each of the previous five recessions, home values appreciated.

 

Myth #3: There is an Affordability Crisis Looming

Rising home prices have many concerned that the average family will no longer be able to afford the most precious piece of the American Dream – their own home.

There are many different affordability indexes supported by different organizations that all measure different data. For this reason, there is a lot of confusion about what “affordable” actually means.

The monthly cost of a home is determined by the home’s price and the interest rate on the mortgage used to purchase it. According to Freddie Mac, interest rates have risen from 3.95% in January to 4.59% just last week.

Reality: As we mentioned earlier, home prices have appreciated year-over-year for the last 76 months, largely driven by high demand and low supply.

According to a recent study by Zillow, the percentage of median income necessary to buy a home in today’s market (17.1%) is well below the mark reached in 1985 – 2000 (21%), as well as the mark reached in 2006 (25.4)! Interest rates would have to increase to 6% before buying a home would be less affordable than historical norms.

The starter-home market has appreciated at higher levels (9.4% year-over-year) than any other market. One reason for this is the fact that many of the first-time buyers who have flocked to the starter-home market are being met with high competition. For some hopeful buyers, it may take more than a good offer to stand out from the crowd!

 

Bottom Line

There is a lot of confusion in today’s real estate market. If your future plans include buying or selling, make sure you have a trusted advisor and market expert by your side to help guide you to the best decision for you and your family.

 

Source.. forsalegreensboro.com

 

To protect your interests and assure that you make the best possible decisions,  

it's important that you have a knowledgeable agent on your side who is an expert in the local real estate market.  

We are dedicated to keeping you on top of our local market. Rest assured that we will provide you with a well-informed,  

and the most updated strategic view for your home purchase in Greensboro North Carolina  

To reach us, please call 336-750-6453

or send us an email  mike@forsalegreensboro.com

 

Sell My House in North Carolina | Top 3 Myths About Todayís Real Estate Market

9/5/2018

Sell My House in North Carolina | Top 3 Myths About Today’s Real Estate Market

 

Most real estate brokers and agents don't really have all the tools needed to provide 100% selling services to sellers that need to sell their houses  quick, for cash and at a fair price.   

This is why we have integrated fully with all the data on the MLS and became a real estate source to thousands of investors in the Piedmont Triad North Carolina region.   

In order for most consumers to take advantage of the competition between these investors, we've created the perfect system. If you are in the market to sell you home and you are in need for a fair offer  right away... you've come to the right place.   

We can provide customized innovation towards all  your real estate needs if you are a home seller.  

 

Today, I would like to talk to you about Top 3 Myths About Today’s Real Estate Market

 

There are many conflicting headlines when it comes to describing today’s real estate market. Some are making comparisons to the market we experienced 10 years ago and are starting to believe that we may be doomed to repeat ourselves. Others are just plain wrong when it comes to what it takes to qualify for a mortgage.

Today, we want to try and clear the air by shedding some light on what’s causing some of these headlines, as well as what’s truly going on.

 

Myth #1: We Are Headed for Another Housing Bubble

Home prices have appreciated year-over-year for the last 76 straight months. Many areas of the country are at or near their peak prices achieved before the last housing bubble burst. This has many worried that we are headed towards another housing bubble.

Reality: The biggest challenge facing today’s real estate market is a lack of homes for sale! Demand is strong, as many renters have come off the fence and are searching for their dream homes.

Historically, a normal market requires a 6-month supply of inventory in order for prices to rise with the rate of inflation. According to the National Association of Realtors (NAR) there is currently a 4.3-month supply of inventory.

The US housing market hasn’t had 6-months inventory since August 2012! The concept of supply and demand is what is driving home prices up!

 

Myth #2: The Rumored Recession Will Lead to Another Housing Market Crash

Economists and analysts know that the country has experienced economic growth for almost a decade. When this happens, they also know that a recession can’t be too far off. But what is a recession?

Merriam-Webster defines a recession as “a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two consecutive quarters.”

Reality: Recession DOES NOT equal housing crisis. Many people associate these two terms with one another because the last time we had a recession it was caused by a housing crisis. According to the Federal Reserve, over the last 40 years, there have been six recessions. In each of the previous five recessions, home values appreciated.

 

Myth #3: There is an Affordability Crisis Looming

Rising home prices have many concerned that the average family will no longer be able to afford the most precious piece of the American Dream – their own home.

There are many different affordability indexes supported by different organizations that all measure different data. For this reason, there is a lot of confusion about what “affordable” actually means.

The monthly cost of a home is determined by the home’s price and the interest rate on the mortgage used to purchase it. According to Freddie Mac, interest rates have risen from 3.95% in January to 4.59% just last week.

Reality: As we mentioned earlier, home prices have appreciated year-over-year for the last 76 months, largely driven by high demand and low supply.

According to a recent study by Zillow, the percentage of median income necessary to buy a home in today’s market (17.1%) is well below the mark reached in 1985 – 2000 (21%), as well as the mark reached in 2006 (25.4)! Interest rates would have to increase to 6% before buying a home would be less affordable than historical norms.

The starter-home market has appreciated at higher levels (9.4% year-over-year) than any other market. One reason for this is the fact that many of the first-time buyers who have flocked to the starter-home market are being met with high competition. For some hopeful buyers, it may take more than a good offer to stand out from the crowd!

 

Bottom Line

There is a lot of confusion in today’s real estate market. If your future plans include buying or selling, make sure you have a trusted advisor and market expert by your side to help guide you to the best decision for you and your family.

 

Source.. forsalegreensboro.com

 

To protect your interests and assure that you make the best possible decisions,  

it's important that you have a knowledgeable agent on your side who is an expert in the local real estate market.  

We are dedicated to keeping you on top of our local market. Rest assured that we will provide you with a well-informed,  

and the most updated strategic view for your home purchase in Greensboro North Carolina  

To reach us, please call 336-750-6453

or send us an email  mike@forsalegreensboro.com

 

Oak Ridge North Carolina | Home Sales Expected to Continue Increasing in 2019

8/28/2018

Oak Ridge North Carolina | Home Sales Expected to Continue Increasing in 2019

 

 If you are looking for a home in the Oak Ridge North Carolina. Let us share a secret with you. When someone becomes a professional real estate agent, they make a commitment to their clients from the moment they first connect, whether it is, first-time homebuyer's, who are very excited to purchase their very own home.... or seasoned Investors who are trying to build equity with key purchases and increase their portfolios. What is important for you to know is that your main purpose is to find the right real estate professional that will dedicate time and energy to bring exactly what you are looking for. Take your time and pick the one that has that commitment deep in their hearts.

To show this commitment to my clients, We bring the latest technology, know-how and information allowing me to bring the best possible outcome on every real estate transaction we perform.

Today, I would like to talk to you about Home Sales Expected to Continue Increasing in 2019

 

Freddie Mac, Fannie Mae, and the Mortgage Bankers Association are all projecting that home sales will increase nicely in 2019. Below is a chart depicting the projections of each entity for the remainder of 2018, as well as for 2019.

As we can see, Freddie Mac, Fannie Mae, and the Mortgage Bankers Association all believe that homes sales will increase steadily over the next year. If you are a homeowner who has considered selling your house recently, now may be the best time to put it on the market.

 

Source.. forsalegreensboro.com

 

If you want to find the best house for the money in Oak Ridge North Carolina….

This is what we can do for you, 

We will prepare you a list of houses that fit your criteria and take the time to show all these houses to you, with no pressure and no hassle.

So please let us know when you are ready to get started

If you want to get started now, 

Please call us at 800-950-6453

Or text to: 336-750-6453

Email: mike@forsalegreensboro.com 

Thinking of selling your home?

Let Michael Jones take over the marketing of your property with our unique 99 STEPS system

- Call or text 336-750-6453 for more information.

 

Summerfield North Carolina | Rent or Buy: Either Way Youíre Paying A Mortgage!

8/28/2018

Summerfield North Carolina | Rent or Buy: Either Way You’re Paying A Mortgage!

 

At a local level in Summerfield North Carolina, buyer confidence remains strong with some changes that varies on the price level and what type of houses they are looking for.     

Particularly in and around Summerfield 27358 zip code. The addition of new store and business entities in the area makes Summerfield one of the most busiest areas in Greensboro NC.      

As you are aware, for most families, choosing a new home is the biggest financial decision they will ever make and for that reason, there are many complicated decisions involved in choosing your new home. 

  

Today, I would like to talk about Rent or Buy: Either Way You’re Paying A Mortgage!

 

There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich”:

“While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re making someone else rich.”

With home prices rising, many renters are concerned about their house-buying power. Mark Fleming, Chief Economist at First American, explained:

“Over the last three years, renter house-buying power has increased fast enough to keep pace with house price appreciation, so the share of homes that a renter can afford to buy has remained the same since 2015.

Although mortgage rates are expected to rise, they are still low by historic standards, and real household incomes are the highest they have ever been. Assuming this trend continues, our measure of affordability, which takes into account income, interest rates, and house prices, indicates that homeownership is still within reach for renters.”

As an owner, your mortgage payment is a form of ‘forced savings’ which allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee the landlord is the person building that equity.

Interest rates are still at historic lows, making it one of the best times to secure a mortgage and make a move into your dream home. Freddie Mac’s latest report shows that rates across the country were at 4.51% last week.

 

Bottom Line

Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, now may be the time to buy.

 

Bottom Line

If you have outgrown your starter home, contact a local real estate professional who can explain the market conditions in your area and help you find your next home!

 

Source.. forsalegreensboro.com

 

To show my commitment to my clients, I will utilize the latest technology, know-how and information allowing me to bring you the best and highest offer for your house. 

To connect with me directly, 

Please call Mike Jones at 336-750-6453

Or via email:  mike@forsalegreensboro.com 

If you are thinking of selling your home in a more traditional way... Let Mike take over the marketing of your property with our unique 99 STEPS system 

 - Call or text 336-750-6453 for more information.

 

What State Gives You the Most 'Bang for Your Buck'? [INFOGRAPHIC]

8/27/2018

 

What State Gives You the Most ‘Bang for Your Buck’? [INFOGRAPHIC] | MyKCMSome Highlights:
  • The majority of states in the Midwest and South offer a lower cost of living than states in the Northeast and West.
  • The ‘biggest bang for your buck’ comes in Mississippi where, compared to the national average, you can actually purchase $115.74 worth of goods for $100.
  • For more information regarding the methodology used to create this map, visit the Tax Foundation.

Source.. forsalegreensboro.com

 

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