- 95% of first-time homebuyers are willing to sacrifice to make homeownership a reality.
- The top item that buyers sacrifice is new clothes, at 54%.
- Even repeat or experienced buyers say they sacrificed taking a vacation or buying a new car to buy their last home.
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- In a recent Harris Poll, Americans listed “change in climate/weather” as their top reason for wanting to relocate.
- 41% would move for a “better job opportunity.”
- Being closer to loved ones filled out 3 of the top 6 reasons why Americans move.
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- Many buyers are purchasing a home with a down payment as little as 3%.
- You may already qualify for a loan, even if you don’t have perfect credit.
- Take advantage of the knowledge of your local professionals who are there to help you determine how much you can afford.
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- The “Cost of Waiting to Buy” is defined as the additional funds it would take to buy a home if prices and interest rates were to increase over a period of time.
- Freddie Mac predicts that interest rates will increase to 4.8% by this time next year, while home prices are predicted to appreciate by 4.9% according to CoreLogic.
- Waiting until next year to buy could cost you thousands of dollars a year for the life of your mortgage!
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- Interest rates are still below historic numbers.
- 88% of property managers raised their rent in the last 12 months!
- The credit score requirements for mortgage approval continue to fall.
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- ‘Millennials’ are defined as 18-36 year olds according to the US Census Bureau.
- According to NAR’s latest Profile of Home Buyers & Sellers, the median age of all first-time home buyers is 31 years old.
- More and more ‘Old Millennials’ (25-36 year olds) are realizing that homeownership is within their reach now!
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- The concept of Supply & Demand is a simple one. The best time to sell something is when the supply of that item is low & the demand for that item is high!
- Anything under a 6-month supply is a Seller’s Market!
- There has not been a 6-months inventory supply since August 2012!
- Buyer Demand continues to outpace Seller Supply!
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