VA Home Loans provide unique opportunities for veterans, active-duty personnel, and their families in recognition of their service to our country. For eligible individuals, options associated with VA Loans can help make the dream of homeownership a reality.
A recent realtor.com survey revealed that buyers are still considering moving forward with the home buying process, even if they can’t see the home in-person. While they still prefer to physically see a home, virtual home tours and accurate listing information top the list of tech specs buyers find most helpful in today’s process.
According to the Census Bureau’s Housing Vacancy Survey (HVS), the U.S. homeownership rate has reached 65.3% in the first quarter of 2020. This number has been rising since 2016 and is the highest we’ve seen in eight years.
The National Association of Home Builders (NAHB) explains the rate increase:
“Strong owner household formation with around 2.7 million homeowners added in the first quarter has driven up the homeownership rate, especially under the decreasing mortgage interest rates and strong new home sales and existing home sales in the first two months before the COVID-19 pandemic hit the economy.”
Additionally, the NAHB also highlights the year-over-year increase in each generational group:
If the idea of purchasing a fixer upper sounds appealing, be sure to conduct your due diligence to avoid falling into a financial trap. While these individual signs might not derail a sale on their own, they might warrant a call to a local expert who can assess the problem, offer solutions, or give repair estimates.
When shopping around for the best mortgage rates, you may wonder why you aren't quoted the rate you see advertised online or by banks. Ultimately, your credit score can heavily impact the rates you are quoted.
Most house hunters tend to be more concerned with saving green than with being green. While environmental concerns influence home buying decisions to an extent, most prospective buyers care more about features that will impact their bottom line.
In today's market, consumers from all income levels carry a heightened expectation for what brands, products, and services should deliver. This mindset also applies to home buying. If affluent buyers do not feel they are offered something that truly moves them, they will often pass and save their money until something does.
55% of prospective home buyers who were actively searching for a property to purchase earlier in the year say their house hunts were unfruitful for three months or longer. These are the top reasons for their failed home searches.