This document provides 7 reasons why now is a great time to buy a home:
1. Home affordability is at an all-time high with mortgage payments as a percentage of income lower than in a generation.
2. Mortgage rates are at historic lows around 4.36% and are unlikely to get much lower, so buyers should act now before rates rise.
3. After declining for 30 months, home prices are trending back up as various price indices show prices stabilizing or rising in most markets.
4. Sellers are highly motivated with a surplus of foreclosures and short sales, giving buyers strong negotiating power.
5. Financing is readily available for well
Confidence falls for the third consecutive period but the Australian dream of home ownership is still alive...
The Streets Ahead report is released biannually and discusses the results of the Genworth Homebuyer Confidence Index (HCI) which measures existing homebuyer and potential homebuyer sentiment about their own mortgage and the overall mortgage market. It combines data collected fromover 14,000 consumers since 2005 and Genworth’s own unique data, built up over more than 45 years.
A comprehensive summary of the housing market in Southwest California where we're enjoying the strongest Seller's market in years in July. Sales posted their 2nd highest month in the past decade, up 17% over June and up 11% over last July. Median prices continued to climb as well, advancing 6% year-to-date. We are now measuring inventory of homes for sale in weeks, not months.
Should I Short Sale My Home eBook by Harris and Chen. Information regarding Short Sale to avoid foreclosure. How to get out of upside down homes bought at the peak real estate market.
Confidence falls for the third consecutive period but the Australian dream of home ownership is still alive...
The Streets Ahead report is released biannually and discusses the results of the Genworth Homebuyer Confidence Index (HCI) which measures existing homebuyer and potential homebuyer sentiment about their own mortgage and the overall mortgage market. It combines data collected fromover 14,000 consumers since 2005 and Genworth’s own unique data, built up over more than 45 years.
A comprehensive summary of the housing market in Southwest California where we're enjoying the strongest Seller's market in years in July. Sales posted their 2nd highest month in the past decade, up 17% over June and up 11% over last July. Median prices continued to climb as well, advancing 6% year-to-date. We are now measuring inventory of homes for sale in weeks, not months.
Should I Short Sale My Home eBook by Harris and Chen. Information regarding Short Sale to avoid foreclosure. How to get out of upside down homes bought at the peak real estate market.
A detailed presentation concerning the National real estate market by Keller Williams Realty and the local North Central Ohio real estate market by Paul W. Drury.
Detailed National and North Central Ohio Market snapshot newsletter. National news brought to you by Keller Williams Realty and local news by Paul W. Drury
Finding and purchasing a home that will meet your needs is a significant and often stressful time. Our goal is to make this transition as smooth as possible.
The report addresses U.S. household debt and it's impact on discretioniary spending in the U.S. gaming industry. It also provides a regional analysis of Household debt and personal income levels.
To obtain the highest possible sales price for your home, the marketing must reach the right buyers with the right message. We have the network and experience to do this.
The Reserve Bank's December Bulletin has painted a bleak picture of the homes first-time buyers can afford, particularly in Sydney.
First-home buyers can afford smaller homes further from the city than they were able to afford in the past, according to the report titled 'Housing accessibility for first-home buyers'.
The report states the median first-home buyer can afford about one-third of the homes in Australia - 32 per cent, and about the average rate of the past 20 years. However, the situation varies enormously from place to place.
The average potential first-home buyer in Sydney could only afford 10 per cent of homes sold in 2016, according to the report.
Source: RBA.
Over the past 20 years, first-home buyers have generally been able to afford 10 to 30 per cent of the homes for sale in Sydney.
And in regional areas, the median first-home buyer could afford almost half the housing stock for sale.
Source: RBA.
The most accessible capital city for first-home buyers was Hobart, with about 60 per cent of homes within reach of first-home buyers.
The quality of first homes has deteriorated across the board, the report claims, but has worsened to the greatest degree in Sydney.
Of the homes considered to be within reach of first-home buyers, the report says "there has been some structural decline in the quality of housing that is affordable to first-home buyers."
The average number of bedrooms in accessible homes has fallen in all capital cities over the past 20 years, and the most sharply in Sydney.
Source: RBA.
First-time buyers could also only afford to live further from the city. The average distance between affordable homes in Sydney and the CBD had risen steadily over the past 10 years.
Source: RBA.
The report also finds that the number of households renting has trended up is recent decades, and rent-to-income ratios for lower-income households have risen in the last 10 years.
This Month in Real Estate, September 2001, is brought to you by Paul W. Drury, Real Estate Broker with Keller Williams Realty Greater Cleveland West. It is a collection of national news, information, and statistics as well as information specific to the North Central Ohio Region between Lakewood and Sandusky and south to the Lodi / Ashland Area.
A detailed presentation concerning the National real estate market by Keller Williams Realty and the local North Central Ohio real estate market by Paul W. Drury.
Detailed National and North Central Ohio Market snapshot newsletter. National news brought to you by Keller Williams Realty and local news by Paul W. Drury
Finding and purchasing a home that will meet your needs is a significant and often stressful time. Our goal is to make this transition as smooth as possible.
The report addresses U.S. household debt and it's impact on discretioniary spending in the U.S. gaming industry. It also provides a regional analysis of Household debt and personal income levels.
To obtain the highest possible sales price for your home, the marketing must reach the right buyers with the right message. We have the network and experience to do this.
The Reserve Bank's December Bulletin has painted a bleak picture of the homes first-time buyers can afford, particularly in Sydney.
First-home buyers can afford smaller homes further from the city than they were able to afford in the past, according to the report titled 'Housing accessibility for first-home buyers'.
The report states the median first-home buyer can afford about one-third of the homes in Australia - 32 per cent, and about the average rate of the past 20 years. However, the situation varies enormously from place to place.
The average potential first-home buyer in Sydney could only afford 10 per cent of homes sold in 2016, according to the report.
Source: RBA.
Over the past 20 years, first-home buyers have generally been able to afford 10 to 30 per cent of the homes for sale in Sydney.
And in regional areas, the median first-home buyer could afford almost half the housing stock for sale.
Source: RBA.
The most accessible capital city for first-home buyers was Hobart, with about 60 per cent of homes within reach of first-home buyers.
The quality of first homes has deteriorated across the board, the report claims, but has worsened to the greatest degree in Sydney.
Of the homes considered to be within reach of first-home buyers, the report says "there has been some structural decline in the quality of housing that is affordable to first-home buyers."
The average number of bedrooms in accessible homes has fallen in all capital cities over the past 20 years, and the most sharply in Sydney.
Source: RBA.
First-time buyers could also only afford to live further from the city. The average distance between affordable homes in Sydney and the CBD had risen steadily over the past 10 years.
Source: RBA.
The report also finds that the number of households renting has trended up is recent decades, and rent-to-income ratios for lower-income households have risen in the last 10 years.
This Month in Real Estate, September 2001, is brought to you by Paul W. Drury, Real Estate Broker with Keller Williams Realty Greater Cleveland West. It is a collection of national news, information, and statistics as well as information specific to the North Central Ohio Region between Lakewood and Sandusky and south to the Lodi / Ashland Area.
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Learn BEM fundamentals as fast as possible. What is BEM (Block, element, modifier), BEM syntax, how it works with a real example, etc.
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Things to Consider When Buying a Home (Fall 2021) | KM Realty Group ChicagoTammy Jackson
This “Buyer Guide” will give you powerful marketing materials to share with clients, and help you simply and effectively explain the current market opportunities to potential buyers.
We Make Real Estate Buying and Selling Easy.
https://kmrealtygroup.net/
Let's connect with a real estate professional to discuss your home buying or selling process. https://bit.ly/connect-km-realty
It’s difficult to know when is the best time to sell, or how to get the most money for your house, but you don’t need to go through the process alone.
You may be wondering if prices are projected to rise or fall…or how much competition you may be facing in your market. The free eGuide below will answer many of your questions and likely bring up a few things you haven’t even thought about yet.
Things to Consider When Buying a Home Spring 2023 in ChicagoTammy Jackson
Buying a home is an exciting process, but it can also be overwhelming. There are many factors to consider when buying a home — things from the condition of the house to neighborhood safety, to whether you're even ready for homeownership. In this presentation, we'll walk through some things to keep in mind when buying your first home or upgrading to your next one.
Dynamics 365 Bid Management for Construction ProjectsDynamic Netsoft
This PDF provides a straightforward guide to using Dynamics 365 for efficient bid management in construction projects. Learn how to streamline processes, improve accuracy, and enhance productivity with practical tips and step-by-step instructions.
https://dnetsoft.com/dynamics-365-bid-management-software
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szet...Volition Properties
=== Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szeto) ===
Ever been curious about Real Estate Investing in the US?? At Volition, for the past 14 years, we have been focused on helping investors invest in over $250M of real estate and generate $100M of wealth in the Toronto market, but we are always open to learning more about other business models and learning from other investors.
The US has always been an intriguing market to invest in. But the US is a big place… if you’re interested in investing in the US, you probably have a lot of questions, like:
☑️ Specifically WHERE should you invest?
☑️ What are the best markets to invest in and why?
☑️ How much are property prices there?
☑️ What are the returns like?
☑️ What is cashflow like?
☑️ Compared to investing in Toronto or other cities in Ontario, what are the benefits / tradeoffs?
☑️ What ownership structure should I use?
☑️ What are the tax implications?
☑️ Can I get financing?
☑️ What are tenants like?
Enter Erwin Szeto, a longtime friend of Volition. Since 2005, Erwin Szeto and his team have navigated the challenging landscape of being landlords in Ontario. Now, they are shifting their focus and guiding their clients' investments toward the more landlord-friendly environment of the USA. This decision comes after assisting Canadian clients in transacting over $440,000,000 in income properties. Faced with issues like affordability constraints, tenant-friendly laws, rent control, and rental licensing in Canada, Erwin sees a clear opportunity in the U.S. Here, there is a significant influx of investments leading to the creation of high-paying manufacturing jobs. Erwin and his clients are poised to capitalize on these opportunities where landlord rights are stronger and there is no rent control.
To facilitate this transition, Erwin has partnered with and become a client of SHARE, a one-stop-shop U.S. Asset Manager. Founded by Canadians for Canadians, SHARE enables as passive an ownership experience as possible for landlords in the U.S., while still maintaining direct, 100% ownership.
Erwin is “Making Real Estate Investing Great Again”!!
Website: https://www.infinitywealth.ca/
Facebook: https://www.facebook.com/iwinrealestate and https://www.facebook.com/ErwinSzetoOfficial
Podcast: https://www.truthaboutrealestateinvesting.ca/
Instagram: https://www.instagram.com/iwinrealestate/ and https://www.instagram.com/erwinszeto/
Discover Yeni Eyup Evleri 2, nestled among the rising values of Eyupsultan, offering the epitome of modern living in Istanbul.
With its spacious living areas, contemporary architecture, and meticulous details, Yeni Eyup Evleri 2 is poised to be the star of your happiest moments. Situated in the new favorite district of Eyupsultan, claim your spot and unlock the doors to a peaceful life alongside your loved ones. Nestled next to the historical and natural beauties of Eyupsultan, embrace the comfort of modern living and rediscover life.
Social Amenities:
Yeni Eyup 2 offers a life filled with joy with its green landscaping areas, gym, sauna, children’s play areas, café, outdoor pool, and basketball court. Reserve your place for unforgettable moments!
Reliable Structure:
With 1+1, 2+1, and 3+1 apartment options, Yeni Eyup Evleri 2 is designed with first-class materials and craftsmanship. The doors to a safe and comfortable life are here! Choose the option that suits you best and step into your dream home.
Project:
Yeni Eyup 2 is conveniently located, with Istanbul Airport just 26 minutes away, the Mecidiyeköy Metro Line 4 minutes away, and the Tram Stop 5 minutes away, making your life easier with its central location.
Location:
Your home is positioned in a privileged location, providing easy access to the city center, shopping malls, restaurants, schools, and other important places.
Yeni Eyup 2 offers 1+1, 2+1, and 3+1 apartment options designed to meet different needs. Find an option suitable for every lifestyle and open the doors to a comfortable life in your dream home.
https://listingturkey.com/property/yeni-eyup-evleri-2/
500 acres of brilliance await you here at Riverview City which offers modern living, effortless convenience, and a beautiful natural setting. It is a mega township by Magarpatta City in Loni Kalbhor, Pune. Enjoy easy access to work, schools, and fun while experiencing a perfect work-life balance.
Visit - magarpattacity.developerprojects.in
Total Environment Tangled Up In The Green - Residential Plots Where Nature an...JagadishKR1
Embark on a journey where lush landscapes and contemporary living converge at Total Environment's Tangled Up In The Green Residential Plots in Devanahalli, Bangalore. Surrounded by verdant expanses, these plots offer an idyllic setting for your dream home. Immerse yourself in the serenity of nature while enjoying the finest amenities and design, where every moment is a harmonious blend of luxury and tranquility.
Simpolo Tiles & Bathware
Tile ho,
toh Simpolo.
Since the first steps were taken in 1977, Simpolo Ceramics has carved its niche as a consistently growing organisation with unparalleled innovation and passion rooted in simplicity.
We endure gratification for every experience we offer, created to share something meaningful. It may not resonate with the majority, but that makes us a class apart. If only a handful were to understand the purpose of our existence, we would be proud to have found our believers. Rather, people with whom we can share our beliefs.
VISUALIZER
Design your space in your style with our very own Visualizer. Now, you can choose the tiles of your liking from our wide selection and see how they would look in a space. Select the tile from the multiple options and the visualiser will replace the surfaces in the image with the selected tiles. This way, instead of just your imagination, you can choose the tiles for your place by getting an actual picture of how they would look in a space. So, design your space the way you desire digitally and implement it in real life to get the best results!
You can also share this visualiser with others to help them design their space.
Committed to delighting customers with world-class ceramic products and services. Make Simpolo synonymous with the best quality and set new benchmarks of excellence for all stakeholders. Pursue best business practices with utmost integrity to make Simpolo an exciting organisation to work with, for vendors, channel partners, investors and employees alike.
Gain worldwide recognition in the field of ceramic building products through Research and Innovation and bring an enhanced lifestyle within reach for every household.
Sense Levent Kagithane Catalog - Listing TurkeyListing Turkey
Sense Levent offers a luxurious living experience in the heart of Istanbul’s vibrant Levent district.
This cutting-edge development seamlessly integrates modern design with natural elements, featuring live evergreen plants maintained by an advanced irrigation system, ensuring lush greenery year-round.
The building’s elegant ceramic balconies are both stylish and durable, enhancing the overall aesthetic and functionality. Residents can enjoy the 700m Sky Lounge, which provides breathtaking views of Istanbul and a perfect space to relax and unwind.
Sense Levent promotes a healthy and active lifestyle with a full gym, swimming pool, sauna, and steam room, all available in the building. The interiors are crafted with high-quality materials, ensuring a luxurious and inviting living space.
Designed with young professionals in mind, Sense Levent features 1+1 and 2+1 units with smart floor plans and balconies. The project promises high investment returns, with an expected annual return of 6.5-7%, significantly above Istanbul’s average ROI.
Located in the rapidly growing and highly desirable Levent area, the development benefits from ongoing urban regeneration projects. Its prime location offers proximity to shopping malls, municipal buildings, universities, and public transportation, adding immense value to your investment.
Early investors can take advantage of discounted units during the construction phase, with an expected capital appreciation of +45% USD upon completion. Property Turkey provides comprehensive rental management services, ensuring a seamless and profitable investment experience.
Additionally, robust legal support and significant tax advantages are available through Property Turkey’s licensed Real Estate Investment Fund. Levent is a dynamic urban hub, ideal for young professionals with its numerous corporate headquarters and shopping malls.
Sense Levent is more than just a residence; it’s a place where dreams and opportunities come to life. Contact us today to secure your place in this exclusive development and experience the best of Istanbul living. Sense Levent: Sense the Opportunity. Live the Dream.
https://listingturkey.com/property/sense-levent/
One FNG by Group 108 Sector 142 Noida Construction UpdateOne FNG
One FNG by Group 108 is launching a new commercial project in Sector 142 Noida. Office space and high street retail shops on the FNG and Noida Expressway. For more information visit the website https://www.onefng.com/
Brigade Insignia offers meticulously designed apartments with modern architecture and premium finishes. The project features spacious 3,3.5,4 and 5 BHK units, each thoughtfully planned to provide maximum comfort, natural light, and ventilation.
https://www.newprojectbangalore.com/brigade-insignia-yelahanka-bangalore.html
The KA Housing - Catalogue - Listing TurkeyListing Turkey
Welcome to KA Housing, a distinguished real estate development nestled in the heart of Eyüpsultan, one of Istanbul’s most promising districts.
Just 10 minutes from the bustling city center, Eyüpsultan offers a serene escape with the convenience of urban living. The direct metro line ensures seamless connectivity to all parts of Istanbul, making it an ideal location for residents who seek both tranquility and vibrancy.
KA Housing boasts unparalleled accessibility, with proximity to Istanbul Airport only 30 minutes away, facilitating easy international travel. Effortless city access is guaranteed by direct metro and transportation links to Istanbul’s cultural and commercial hubs. Quick access to key metro lines connects you to every corner of the city within minutes, making commuting and exploring the city hassle-free.
The development offers luxurious living spaces with a range of unit layouts from 1+1 to 4+1, designed with meticulous attention to detail. Each unit features balconies or terraces, providing stunning vistas of Istanbul and enhancing the living experience. High-quality materials and superior craftsmanship ensure durability and elegance, while sound-proof insulation and high ceilings (2.95 m) offer comfort and sophistication.
Residents of KA Housing enjoy exclusive on-site amenities, including a state-of-the-art gym, outdoor swimming pool, yoga area, and walking paths. Entertainment options abound with a private cinema, children’s playground, and a variety of dining options including a café and restaurant. Security and convenience are paramount with 24/7 security, a dedicated carpark garage, and an IP intercom system.
KA Housing represents a prime investment opportunity with limited availability in a high-demand area, ensuring enduring value and potential for lucrative returns. Homes in this development provide exceptional value without compromising on quality, offering affordable luxury for discerning buyers. The construction is of the highest quality, built to the latest seismic and disaster resistance standards, ensuring safety and resilience.
The community and surroundings of KA Housing are enriched by close proximity to prestigious universities such as Haliç University, Bilgi University, and Istanbul Ticaret University, making it an ideal location for students and academics. The development is adjacent to the Alibeyköy stream leading into the Halic waters, offering serene natural escapes amidst lush greenery. Residents can enjoy the cultural richness of the area, surrounded by historical and cultural landmarks that blend leisure, nature, and culture seamlessly.
https://listingturkey.com/property/the-ka-housing/
Keep Your Home Naturally Cool and Warm Out Change in Seasons
Vinra Construction is a private limited company registered under the ROC. The management has an experience of over 15 years of understanding the needs and delivering apt solutions to the end users We are providing turnkey solutions in construction fields. like Construction, Interior Designing Facility Management, Plantation Management, etc..
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Need MCA leads? No sweat! MCAs are great for small biz funding. Learn how to snag top-notch leads: businesses needing cash, with repayment ability, decision-makers, and accurate contacts. Use content, social ads, lead platforms, partnerships, and capture processes for quality leads.
https://www.leadgeneration.media/blog/b/streamline-your-mca-sales-process-with-pre-qualified-leads
Are you searching for your dream home? Finding the perfect house involves more than just browsing listings; it’s about discovering a space that fits your lifestyle and needs. Whether you’re looking for a cozy suburban home, a chic urban apartment, or a spacious rural property, the right real estate can transform your life. Consider the location, amenities, and potential for future growth. Think about the community, nearby schools, and the convenience of shopping and transportation. A good real estate agent can guide you through the process, from identifying suitable properties to negotiating the best deal. Your dream home is out there, waiting to be found – let’s embark on this journey together!
Torun Center Residences Istanbul - Listing TurkeyListing Turkey
THERE IS LIFE IN ITS CENTER!
The most energetic spot of the city that will add utterly different pleasures to your life, with a park that will make Istanbul breathe, delighting indoor and outdoor bistros, cafes, restaurants, the brand-new Food Hall concept, where dozens of unique tastes are served together, market area, cinema, theater, fitness club, SPA and event venue...
All the pleasures that will enrich your lives are awaiting you on the most beautiful side of the city, at Torun Center Residences. In Mecidiyeköy, where the heart of Istanbul beats, business, life and entertainment opportunities are located at the exact center, at Torun Center, the most beautiful side of the city.
Penthouse apartments and different styles of flats from 1 + 1 to 4 + 1, from 100 to 425 square meters in a 42-story residence tower, have been designed for those who want to live in the center of magnificence. Torun Center is the redefinition of a better life with specially landscaped floor gardens, apartment options with private balconies, and automatic glass systems equipped with Trickle Ventilation that offers clean air comfort.
Business and life in the same place
Excellent service
Torun Center has many delightful details, from a swimming pool to sunbathing and resting terrace. With 24/7 concierge services, 24/7 security, valet, technical service, closed-circuit camera system (CCTV), central heating and cooling system, it makes your life easier.
Delightful details
The two-story Torun Center Lounge, with its indoor and outdoor seating areas, children's playroom, private dining and TV lounge, promises unforgettable memories to you and your loved ones with its unique Istanbul view.
Neighboring to the most pleasant square of Istanbul
A few steps from the Torun Center Residences, you can reach the city's most modern city square and open the doors of a quality city life. Torun Center Residences brings together on the same project the long-awaited city life for Istanbul and gourmet restaurants, cafes, gym and SPA, and state-of-the-art cinema and Artı Stage, hosting the most famous plays of the season.
Located at the intersection of alternative public transportation options such as the metro and Metrobus, Torun Center comes to the fore as the most accessible office for both sides of Istanbul. With a central location and rich transportation lines, Torun Center offices make life easier for employees and increase productivity.
Lixin Azarmehr, a Los Angeles-based real estate development trailblazer, co-founded JL Real Estate Development (JL RED) in 2015 and serves as its CEO. Her expertise has propelled the firm to specialize in luxury residential and mixed-use commercial projects, with a portfolio that features upscale retail spaces and sophisticated care facilities.
1. K E L L E R W I L L I A M S R E A L T Y
7
Reasons Why Now is a
Great Time to Buy
A Smart Buyer’s Guide to Seizing the Market
a Home!
2. It’s Prime Time!
to buy a home
No doubt you’ve heard the news:
the housing market hit a rough patch this
summer. Sales of existing homes declined At a Glance:
at a rate that took many by surprise, Why NOW is the Prime Time to Buy!
sending pundits into a “what’s next”
tailspin. Home affordability is at an all-time high. The
median mortgage payment on the median priced
As the prognosticators pondered, savvy home as a percentage of the median household
buyers didn’t miss a beat. They got income is lower than it’s been in a generation.
that the doomsayers were taking a one-
dimensional view of the buyer’s market Mortgage rates are at rock bottom. It’s hard to
and that market skittishness gives rise to imagine interest rates going much lower, and
an even more favorable climate for buying when they start to inch back upwards, monthly
a home. payments and total loan costs will spike upwards.
Recent history has reframed some of what Home prices are back on the rise. After declining
had long been taken for granted about for 30 months, home prices are trending back
buying a home. upward. The time get in to the market is NOW!
Namely, we’ve learned that even though Sellers are motivated. This means that buyers
buying a home remains one of the best have the upper hand! From banks looking to
and safest investments available, a home dispose of foreclosed properties to homeowners
should not function as an ATM or a who are fiercely competing among an excess of
short-term speculation strategy. housing inventory, buyers have untold choices and
negotiating power.
So, where does that leave us? A lot
smarter, able to recognize an opportunity Financing is readily available! Banks are back
when we see one, and aware of the facts in the game and ready to lend to well-qualified
that point to NOW as the prime time to buyers.
buy a home.
Owning vs. renting is increasingly favorable.
News Flash! Since 2009, the average principal and interest
Another $8,000 tax credit is payment has fallen below the average rental rates,
off the table and the gap is now wider than it’s been in the past
22 years.
Doug Duncan, Fannie Mae’s chief
economist, contends that further Homeownership is still at the core of the
intervention at the federal level will American Dream! Owning a home is critical
be counterproductive. At today’s to financial stability and wealth building. It’s
rock-bottom rates, buyers stand to a forced savings account, a place to live and a
save $8,000 many times over during fabulous tax deduction.
the course of a 30-year mortgage.
kw A Smar t Buyer’s Guide to Seizing the Mar ket 2
3. 1. Homes have never
been more affordable
For individual home buyers, there are only a few facts that really matter:
Can I afford this home?
Is it a good investment? Buyers have the edge!
Does it meet my family’s needs?
“Home buyers over the past
So it’s a bit surprising that the most important housing year got a great deal, and
statistic has gone largely unreported: homes have never buyers for the balance of this
been more affordable. Affordability, measured by the year have an edge over sellers.
median mortgage payment on the current median- Affordability could reach a
priced home ($182,400) as a percentage of the median generational high in the second
household income ($64,400), is lower than it’s been in half of this year because of
a generation. The chart below, which tracks housing rock-bottom mortgage interest
affordability for the past 10 years, shows incredible rates, helped partly by the Fed’s
improvements in affordability since the height of the very accommodative monetary
real estate boom in 2006. policy.”
-Lawrence Yun, Chief Economist
The National Association of REALTORS®
Median mortgage payment as a percentage of median household income
25%
historic affordability
30%
25.1%
25%
20.3%
20%
14.9%
15%
10%
5%
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
YTD Average
kw A Smar t Buyer’s Guide to Seizing the Mar ket 3
4. 2. Mortgage rates are at rock bottom
and won’t stay there forever
The national average on a 30-year fixed-rate mortgage dropped to 4.36 percent in Aug 2010 – lower
than it’s been in the past half century. Interest rates for the same time last year averaged 5.19
percent, representing a difference of $90 in the monthly payment on a $200,000 home with 10
percent down, as well as a savings of $175,424 over the life of the loan.
Rates Reach Record Lows
How low can they go?
15
12.7%
12
Doug Duncan, Fannie Mae’s
chief economist, notes that
8.9% the current market is highly
9 8.1% favorable for home buyers.
6.3% “Interest rates are at historic
6
4.8% lows. It’s hard to imagine rates
going any lower than they are
3 now. House prices have come
down considerably, and if your
0
credit is good, there’s lots of
70s 80s 90s 00s 2010 money available.”
YTD Average
Small rate increases spell surprising cost spikes!
Interest Rate 4.36% 5.19% 6% 7% 8%
Monthly payment and interest $897 $987 $1,080 $1,198 $1,321
Difference in
$90 $182 $300 $424
monthly payments
Total interest paid
$142,964 $175,424 $208,509 $251,116 $295,480
over the life of the loan
Interest saved
$32,460 $65,545 $108,152 $152,516
over the life of the loan
*Based on the purchase of a $200,000 home with 10 percent down on a 30-year fixed-rate mortgage.
kw A Smar t Buyer’s Guide to Seizing the Mar ket 4
5. 3. Prices are trending back up
Every major price index points to a housing market that
has hit bottom and is moving in a positive direction. After
30 months of declining values, home prices appear to be
stable or appreciating in nearly every U.S. market. In Upward Momentum
August of 2010, the median home price was $182,600,
amounting to an 11 percent increase over the low that was
reached in February of 2010 at $164,000. “The market is probably going
to zig and zag a little for the
Standard & Poor’s Case-Shiller index reported during the next six months, but it’s not
first week of September that home prices were up in 15 of going to drop any further.”
the top metropolitan areas, amounting to a nationwide gain -William Wheaton
of 4.2 percent over this same time last year. Professor of Economics and Real Estate
MIT, Boston, Mass.
In other words, staying on the fence and waiting for
prices to drop further is OVER!
Median home prices pick back up
After a 30-month search for the floor, prices change direction.
$250,000
$200,000
$150,000
$100,000
$50,000
0
1990 1995 2000 2005 2010
YTD
kw A Smar t Buyer’s Guide to Seizing the Mar ket 5
6. 4. Sellers are motivated!
When supply exceeds demand, buyers have the upper hand–and that’s where we are now!
The current supply of homes for sale now stands at 12.5 months, meaning that at today’s pace of
home sales, it would take 12 and a half months for the existing inventory to sell.
At the same time, recent market upheaval has given rise to a
surplus of foreclosed properties that banks are eager to sell, and
an increasing number of listing agents are also negotiating “short What does this
sales” with banks to sell their clients’ properties at a price that’s
less than what they owe on their mortgage. Collectively known as
mean for you?
“distressed properties,” short sales and foreclosures are available For you as a buyer, this
at every price range and tend to sell for an average of 20 percent means lots of choices,
below market value – and sometimes much more. lots of negotiating power
and that smart sellers are
Distressed properties are now part of the mainstream of real fiercely competing for
estate transactions. According to the National Association of your business, both in
REALTORS ® , 32 percent of all homes sold since the beginning terms of the price and the
of 2010 have been either a short sale or a foreclosure. So now’s condition of their homes.
the time for smart buyers who are looking for a deal to seize the
opportunity!
5. Lenders are back in the game!
The subprime mortgage crisis brought underwriting standards back into the mortgage origination
process. And while the final quarter of 2009’s financial meltdown led to a sense that financing had
dried up, mortgage funds are now available.
“If you have a job and can afford the payment, chances are you’ll qualify for a mortgage,” says
David Reed, a mortgage banker and author of Mortgage Confidential: What You Need to Know That
Your Lender Won’t Tell You.
Also noteworthy is the recent drop in jumbo mortgage loan rates and an uptick in the high-end
of the housing market. The sector which was not bolstered by the $8,000 first-time home buyer
tax credit is faring quite well, providing further evidence that the recent sales setback is simply a
function of the market readjusting to the expiration of the tax credit.
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7. 6. Ownership costs are
dropping below rental costs!
The recent downturn in the housing market resulted in a drop in rental rates, but rents are
back on the rise while the cost of home ownership has dropped.
As the chart below indicates, as average apartment rental rates have slightly decreased, the
decline has been moderate in comparison to home values, which have declined nationwide
by 30 to 40 percent since the peak of the housing boom.
Looking back …
$1,500
Since 2009, the average
monthly mortgage
principal and interest
costs have fallen below the
average rental rates, and
$1,200 the gap is wider than it’s
ever been in the past 22
years.
$900
$600
$300
1989 1994 1999 2004 2009
Monthly principal and Total monthly payments Median rent
interest payment to own (including principal,
interest, tax and insurance)
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8. 7. Home ownership remains at
the core of the American Dream
A recent Fannie Mae study reveals that the majority of Americans still aspire to own a home
– and for good reason. Owning a home is critical to financial stability and wealth building.
A home serves as a forced savings account and provides a solid asset, as well as a place
to live. Despite the recent market upheaval, the vast majority of Americans still consider
home ownership to be important to the economy and preferable to renting. Since the
end of World War II, promoting home ownership has been high on the list of the federal
government’s priorities, and will continue to be so.
As the graph below points out, the rent vs. buy equation needs to also take into account
that rents are subject to increase every year, and mortgage payments remain fixed
throughout the life of the loan*. Another key factor in the affordability picture is the
federal tax deductibility of mortgage interest, which amounts to an annual savings of
thousands of dollars for the average homeowner.
$600,000
$2,500
$500,000
$2,000
$400,000
$1,500
$300,000
$1,000
$200,000
$500 $100,000
$0
2010 2015 2020 2025 2030 2035 2040 2044
Median asking rent
Monthly principal and interest payment
Total monthly payment to own (including principal, interest, tax, and insurance)
Wealth accumulated through forced savings
Wealth accumulated through appreciation
*Based on the purchase of a $200,000 home with 10% down on a 30-year fixed-rate mortgage.
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9. Recent decline in home sales:
Perfectly predictable
While many in the media have run with the temptation to attribute the summer sales lull to a
deteriorating housing market, economists are looking at the big picture and pointing to an inevitable
outcome of the expiration of the $8,000 first-time home buyer tax credit, which went into effect in
January of 2009 and expired April 30, 2010.
Throughout 2009, the pace of home sales picked up as buyers and real estate agents latched onto the
program, topping 5 million in July of 2009 and then peaking at 6.5 million in November of 2009,
the month that the program was originally slated to expire. The expiration of the tax credit on April
30, 2010 led to a sharp decline in May sales and an even more significant drop in June and July.
Following July’s 27 percent drop in sales, the National Association of REALTORS® reports that
pending home sales for August are up 5.2 percent.
April 30, 2010
600,000 Tax Credit
Expires
Nov. 30, 2009
Original Tax Credit
Scheduled to Expire
500,000
400,000 July 2010
Jan. 1, 2009 Seasonal Sales
Tax Credit Starts Well Below Normal
300,000
200,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2010 home sales 2009 home sales 1999-2008 average home sales
Vive la lull!
Back in the heyday when housing was hot, properties were snatched up the second they
hit the market and prices were going up and up and up, it was an “exciting” time to buy a
home. And then, the bubble burst, the market cooled and housing went from speculative
to safe again, from volatile to sensible, from a place to flip to a place to live.
Far better options by any measure for the smart buyer who knows how to recognize an
opportunity when they see one!
This is a prime time to buy a home!
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10. Partner with the best!
For three years in a row, J.D. Power and Associates has awarded Keller Williams associates
the distinct honor of “ Highest Overall Satisfaction for Home Buyers among National
Full-Service Real Estate Firms .”
Keller Williams associates are at the top of the market for training, service and commitment
to meeting your goals.
Whether investing in real estate or buying your first home, the current market represents an
unparalleled opportunity. Here are two great resources to guide you!
New York Times Bestseller The Millionaire Real Estate Investor , written
by Gary Keller and his writing team of Dave Jenks and Jay Papasan, covers all
that you’ll need to know about building a profitable real estate portfolio.
If you are new to the home-buying process, take advantage of the wealth of
information presented in Your First Home: The Proven Path to Home
ownership .
Please contact me today for a complimentary copy!
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