Median home prices are on the rise in America, with the current median home price at $295,000. Many potential home buyers presume they need a 20% down payment, which causes them to think they can’t afford to buy a home. While 20% down may be a standard, there are several home mortgage loan programs that require little or no money down.
Investing in real estate is not the right choice for everyone, and investing in commercial real estate is not the right choice for many. However, it may be the right choice for you. If you have already purchased a home or two, and you have considered investing in residential or commercial real estate, we encourage you to read the following articles:
A recent article from Realtor.com provides great news for California homeowners as it reveals a 12.3% annual increase in California home equity values. According to the article other states that were leaders in the nation for increased home equity are Washington, Nevada, Hawaii, and Massachusetts.
Most homeowners today have considered adding solar to their home. The federal government and some states offer incentives to encourage property owners, both residential and commercial, to consider this upgrade to their property.
As pricing for home purchase or renting a home or apartment have continued to rise over the past few years, many potential buyers are turning to the Tiny Home Trend as a more affordable alternative.
Federal Housing Finance Agency, the U.S. regulator that oversees Fannie Mae and Freddie Mac, recently announced their plans to discontinue a controversial program that subsidized loans for firms that invest in single-family rental properties.
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With Home Rental prices soaring, we wanted to share this article from CNBC.com. Ms. Olic makes a very good point; when it is time to buy your new home consider their idea of keeping your existing home and renting it out!
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Homeownership rates for the under 40 crowd have dropped notably in the past few years. Leading finance experts consider this a result of higher college debt, higher credit card debt, increases in childcare costs, and a lower inventory of starter homes.
The good news is many new loan programs are designed specifically to provide first time home buyers a better opportunity to qualify for financing in spite of the challenges they face.
Here are tips that can help a First Time Home Buyer:
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There is overwhelming statistics proving that our nation is facing a housing shortage crisis. The shortage has caused substantial sales price increases, preventing many potential buyers from affording home ownership.