Buying Myths

Patience Is the Key to Buying a Home This Year

Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, New Construction /

\"PatienceThe question many homebuyers are facing this year is, “Why is it so hard to find a house?” We’re in the ultimate sellers’ market, which means real estate is ultra-competitive for buyers right now. The National Association of Realtors (NAR) notes homes are getting an average of 4.8 offers per sale, and that number keeps […]

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How Much Time Do You Need To Save for a Down Payment?

Buying Myths, Down Payments, First Time Home Buyers, For Buyers /

\"HowOne of the biggest hurdles homebuyers face is saving for a down payment. As you’re budgeting and planning for your home purchase, you’ll want to understand how much you’ll need to put down and how long it will take you to get there. The process may actually move faster than you think. Using data from […]

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Is Homeownership Still Considered Part of the American Dream?

Buying Myths, Demographics, First Time Home Buyers, For Buyers, Millennials /

\"IsSince the birth of our nation, homeownership has always been considered a major piece of the American Dream. As Frederick Peters reports in Forbes: “The idea of a place of one’s own drives the American story. We became a nation out of a desire to slip the bonds of Europe, which was still in many […]

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Why You Should Think About Listing Prices Like an Auction’s Reserve Price

Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Pricing /

\"WhyFor generations, the homebuying process never really changed. The seller would try to estimate the market value of the home and tack on a little extra to give themselves some negotiating room. That figure would become the listing price of the house. Buyers would then try to determine how much less than the full price […]

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What Credit Score Do You Need for a Mortgage?

Buying Myths, First Time Home Buyers, For Buyers, Move-Up Buyers /

\"WhatAccording to data from the most recent Origination Insight Report by Ellie Mae, the average FICO® score on closed loans reached 753 in February. As lending standards have tightened recently, many are concerned over whether or not their credit score is strong enough to qualify for a mortgage. While stricter lending standards could be a challenge for […]

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How Upset Should You Be about 3% Mortgage Rates?

Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers /

\"HowLast Thursday, Freddie Mac announced that their 30-year fixed mortgage rate was over 3% (3.02%) for the first time since last July. That news dominated real estate headlines that day and the next. Articles talked about the “negative impact” it may have on the housing market. However, we should realize two things: 1. The bump-up […]

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How Smart Is It to Buy a Home Today?

Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers, Pricing /

\"HowWhether you’re buying your first home or selling your current house, if your needs are changing and you think you need to move, the decision can be complicated. You may have to take personal or professional considerations into account, and only you can judge what impact those factors should have on your desire to move. […]

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