Monday, January 13, 2020 / by Justin Critchfield & Michelle Aspseter
Buying a Home Early Can Significantly Increase Future Wealth
According to an Urban Institute study, homeowners who purchase a house before age 35 are better prepared for retirement at age 60.
The good news is, our younger generations are strong believers in homeownership.
According to a Freddie Mac survey,
“The dream of homeownership is alive and well within “Generation Z,” the demographic cohort following Millennials.
Our survey…finds that Gen Z views homeownership as an important goal. They estimate that they will attain this goal by the time they turn 30 years old, three years younger than the current median homebuying age (33).”
If these aspiring homeowners purchase at an early age, the Urban Institute study shows the impact it can have.
Based on this data, those who purchased their first homes when they were younger than 25 had an average of $10,000 left on their mortgage at age 60. The 50% of buyers who p ...
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Monday, December 30, 2019 / by Justin Critchfield & Michelle Aspseter
Why You Shouldn’t “For Sale By Owner”
Rising home prices coupled with the current inventory in today’s market may cause some homeowners to consider selling their homes on their own (known in the industry as a For Sale By Owner). However, a FSBO might be hard to execute well for the vast majority of sellers.
Here are the top 5 reasons not to FSBO:
1. Online Strategy for Prospective Purchaserstudies have shown that 93% of buyers search online for a home. That’s a pretty staggering number! Most real estate agents have an Internet strategy to promote the sale of your home. Do you?
2. Results Come from the Internet
According to NAR, here’s where buyers found the homes they actually purchased:
55% on the Internet
28% from a Real Estate Agent
10% Other
6% from a Yard Sign
1% from Newspapers
The days of selling your house by putting up a sign in your yard or placing an ad in the paper are long gone. ...
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Tuesday, December 10, 2019 / by Justin Critchfield & Michelle Aspseter
How important is a home inspection?
The best time for an inspection is when you are buying a home and are under contract.
It is recommended you hire a professional home inspector. They are going to come in and are going to inspect 300 things in your home from electrical appliances to plumbing and roof. The list is extensive.
99% of the time it is found that you end up with stuff that is going to cost you even more than what the home inspection costs you. The good news is in this time period you can negotiate that. You can negotiate with the seller to fix it or you can get a credit for the property so that the repairs can be done later.
When it comes to some of the major stuff it’s pretty hard to tell unless you have a professional home inspector checking everything. They will check all the leaks, roofing and all of the major stuff in your home for you.
What does a home inspection usually cover?
A home inspection usually covers:
; ...
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Friday, December 6, 2019 / by Justin Critchfield & Michelle Aspseter
Some are reporting that there is trepidation regarding the real estate market in the United States. Apparently, the American people are quite comfortable.
Porch.com, a major network helping homeowners with their renovation projects, recently conducted a survey which asked Americans:
“What do you believe is the safest investment over the next 10 years?”
U.S. housing came in at number one, beating out other investments such as gold, stocks, bonds, and savings.
Here is a graph showing the top five investments Americans selected:The findings of the Porch.com survey also coincide with two previous surveys done earlier this year:
The Federal Reserve Bank’s 2019 Consumer Expectations Housing Survey reported that 65% of Americans believe homeownership is a good financial investment, and that the percentage has increased in each of the last four years.
The Gallup survey showed that Americans have picke ...
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Tuesday, November 26, 2019 / by Justin Critchfield & Michelle Aspseter
Around this time each year, many homeowners decide to wait until after the holidays to list their houses. Similarly, others who already have their homes on the market remove their listings until the spring. Let’s unpack the top reasons why listing your house now or keeping it on the market this winter may be the best choice you can make.
Here are seven great reasons not to wait:
Relocation buyers are out there now. Many companies are still hiring throughout the holidays, and they need their new employees to start as soon as possible.
Purchasers who are looking for homes during the holidays are serious buyers and are ready to buy now.
You can restrict the showings on your home to days and times that are most convenient for you. You will remain in control.
Homes show better when decorated for the holidays.
There is minimal competition for you as a seller right now. Over the past few months we’ve seen the supply of homes for ...
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