Vantage Realty Pros |Vantage Realty Professionals

Some Highlights: “The majority of millennials said they consider owning a home more sensible than renting for both financial and lifestyle reasons — including control of living space, flexibility in future decisions, privacy and security, and living in a nice home.” The top reason millennials choose to buy is to have control over their living space, at 93%. Many millennials who rent a home or apartment prior to buying their own homes dream of the day when they will be able to paint the walls whatever color they’d like or renovate an outdated part of their living space. Powered by  WPeMatico For More Info : Visit Here : Real Estate Expert 

Economists and analysts know that the country has experienced economic growth for almost a decade. They also know that a recession can’t be too far off. A recent  report  by  Zillow Research  shed light on a survey conducted by  Pulsenomics  in which they asked economists, investment strategists and market analysts how they felt about the current housing market. That report revealed the possible timing of the next recession: “ Experts largely expect the next recession to begin in 2020.” That timing concurs with a  recent survey  of economists by the  Wall Street Journal : “The economic expansion that began in mid-2009 and already ranks as the second-longest in American history most likely will end in 2020 as the Federal Reserve raises interest rates to cool off an overheating economy, according to forecasters surveyed.” Here is a graph comparing the opinions of those surveyed by both the  Wall Street Journal  and  Pulsenomics : Recession DOES NOT Equal Housing C

If you’ve entered the real estate market as a buyer or a seller, you’ve inevitably heard the mantra  “location, location, location”  in reference to identical homes increasing or decreasing in value based on where they’re located. In today’s housing market where home prices are appreciating quickly, it’s important to know that not every home appreciates at the same rate. The map below demonstrates that point on a  state-by-state  basis using data from the  National Association of Realtors. Demand often dictates value, even for houses in the same area of the country! High demand for starter and trade-up homes have driven prices up in these categories by nearly 10% over the past year, while those in the premium markets have appreciated at closer to 6%. Bottom Line If you are debating whether or not to buy and/or sell a home this year, let’s get together to help you figure out exactly what’s going on in our market. Powered by  WPeMatico For More Info : Visit

There are many people sitting on the sidelines trying to decide if they  should  purchase a home or sign a rental lease. Some might wonder if it makes sense to purchase a house before they get married or start a family, some might think they are too young, and still, some others might think their current incomes would never enable them to qualify for a mortgage. We want to share what the typical first-time homebuyer actually looks like based on the  National Association of Realtors’  most recent   Profile of Home Buyers & Sellers .  Here are some interesting revelations on the first-time buyer: Bottom Line You may not be much different than many people who have already purchased their first homes. Let’s meet to determine if your dream home is within your grasp today. Powered by  WPeMatico For More Info : Visit Here : Home For Sale NC

The  Aspiring Home Buyers Profile   from the  National Association of Realtors  (NAR) found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. The results of the survey show that the main reason why non-homeowners do not own their own homes is because they believe that they cannot afford them. This brings us to two major misconceptions that we want to address today. 1. Down Payment A recent  survey  by  Laurel Road,  the  National Online Lender  and  FDIC-Insured Bank,  revealed that consumers overestimate the down payment funds needed to qualify for a home loan. According to the survey, 53% of Americans who plan to buy or have already bought a home admit to their concerns about their ability to afford a home in the current market. In addition, 46% are currently unfamiliar with alternative down payment options, and 46% of millennials do not feel confident that they could currently affor

Some Highlights: Buyer demand continues to outpace the supply of homes for sale which means that buyers are often competing with one another for the few listings that are available! Housing inventory is still under the 6-month supply needed to sustain a normal housing market. Perhaps the time has come for you and your family to move on and start living the life you desire. Powered by  WPeMatico For More Info : Visit Here : Home For Sale NC

With both home prices and mortgage rates increasing this year, many are concerned about a family’s ability to purchase a major part of the American Dream – its own home. However, if we compare housing affordability today to the average affordability prior to the housing boom and bust, we are in much better shape than most believe. In  Black Knight ’s latest monthly  Mortgage Monitor,  they revealed that in the vast majority of the country, it is actually  more  affordable to purchase a home today than it was between 1995 to 2003 when looking at mortgage payments (determined by price and interest rate) as compared to incomes. Home prices are up compared to 1995-2003, but mortgage rates are still much lower now than at that time. Today, they stand at about 4.5%. Here are the average mortgage rates for each of the years mentioned: 1995 – 7.93% 1996 – 7.81% 1997 – 7.6% 1998 – 6.94% 1999 – 7.44% 2000 – 8.05% 2001 – 6.97% 2002 – 6.54% 2003 – 5.83% On the other hand, wa

Last week, the  National Association of Real Estate Editors  (NAREE) held their 52 nd   Annual Journalism Conference in Las Vegas, NV. Among the many highly anticipated sessions was one called   “Top Ten Issues Affecting Real Estate™,”  given by Joseph Nahas, Jr.,   Chair of the   Counselors of Real Estate & Senior Vice President of Equus Capital Partners .   The  Counselors of Real Estate  (CRE)   “is an international organization of high profile property professionals which include principals of prominent real estate, financial, legal, and accounting firms as well as recognized leaders of government and academia.”   Their annual “top 10” list spans any and all issues that could have an impact on the real estate market. This year, the list was broken up into  “Current”  and  “Long-Term Issues.” Today we’re going to focus on three of the five  “Current”  issues with a brief explanation of their impacts on the housing market today! E-Commerce & Logistics With

The housing crisis is finally in the rear-view mirror as the real estate market moves down the road to a complete recovery. Home values are up, home sales are up, and distressed sales (foreclosures and short sales) have fallen to their lowest points in years. The market will continue to strengthen in 2018. However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory.  Buyer demand  naturally increases during the summer months, but supply is not keeping up. Here are the thoughts of a few industry experts on the subject: Lawrence Yun,  Chief Economist  at  National Association of Realtors “The worsening inventory crunch through the first three months of the year inflicted even more upward pressure on home prices in a majority of markets. Following the same trend over the last couple of years, a strengthening job market and income gains are not being met by meaningful sales gains because of unrelenting supply and affordability head

Some Highlights: Whether you are selling your home, just purchased your first home or are a homeowner planning to stay put for a while, there is value in knowing which  home improvement projects  will net you the most Return On Investment (ROI). Minor bathroom renovations can go a long way toward improving the quality of your everyday life and/or impressing potential buyers. Upgrading your landscaping or curb appeal helps get buyers in the door. These upgrades rank as the 2 nd  and 4 th  renovations for returns on investment. Powered by  WPeMatico For More Info : Visit Here :  Real Estate Charlotte NC

With home values appreciating at record rates, some are concerned that we may be heading for another housing bubble like the one we experienced a decade ago. One of the major culprits of that housing boom and bust was the loosening of standards for mortgage credit. In a study done at the University of North Carolina immediately after the crisis, it was revealed that: “Lenders began originating large numbers of high risk mortgages from around 2004 to 2007, and loans from those vintage years exhibited higher default rates than loans made either before or after.” A study by John V Duca, John Muellbauer, and Anthony Murphy concluded that those risky mortgages caused the housing crisis: “Our findings indicate that swings in credit standards played a major, if not the major, role in driving the recent boom and bust in US house prices.” How do today’s mortgage standards compare to those from 2004 to 2007? The  Mortgage Bankers’ Association  tracts mortgage standards in

A recent  survey  conducted by  Harris Poll  and released by  SunTrust Mortgage  found that  “55% of homeowners with a child under the age of 18 at the time when they purchased their home said that the opinion of their offspring played a major role in their home buying decision.” When the results were broken down by the parent’s age, millennials (those 18-36) led the way with 74% of homeowners saying that their child’s opinion was a factor in choosing which home to buy. Eighty-three percent of renters believe that their child’s opinion would be a deciding factor when looking to purchase a home. So what features in a home are most important to kids? Coming in at 57%, it should come as no surprise that gaining their own bedrooms was the top most-desirable feature of any home for kids, followed by a large back yard to play in at 34%. Todd Chamberlain,  Head of Mortgage Banking  at  SunTrust  explained the reasoning behind the survey, “A

A new trend has begun to emerge. With home prices skyrocketing in the starter home category, many first-time homebuyers are skipping the traditional starter homes and moving right into their dream homes. What’s a Starter Home? According to the  National Association of Realtors  (NAR), simply put, a starter home is a one or two-bedroom home  (sometimes even a small, three bedroom).  “ Prices vary widely by market but starters on average cost $150,000 to $250,000 while trade-up and premium homes cost upwards of $300,000.” Finding Their Forever Homes Now A recent CNBC  article  revealed that there are many factors that delayed older millennials (ages 25-35) from buying a home earlier in their lives. The aftereffects of the Great Recession teaming up with larger education costs forced many to either remain living in their parent’s homes or to rent. With the economy continuing to improve, many millennials have been able to break into better-paying jobs which has helped spur

People often ask if now is a good time to buy a home, but nobody ever asks whether or not it’s a good time to rent. Regardless, we want to make certain that everyone understands that now is NOT a good time to rent. The  Census Bureau  recently  released  their 2018 first quarter median rent numbers. According to their report, here is a graph showing rent increases from 1988 until today: As you can see, rents have steadily increased and are showing no signs of slowing down. If you are faced with making the decision of whether or not you should renew your lease, you might be pleasantly surprised at your ability to  buy a home  of your own instead. Bottom Line One way to protect yourself from rising rents is to  lock in  your housing expense by buying a home. If you are ready and willing to buy, let’s meet to determine if you are able to today! Powered by  WPeMatico For More Info : Visit Here :  Home For Sale NC

According to recently released  data  from the  National Association of Realtors  (NAR), the median number of days that a home spent on the market hit a new low of 26 days in April, as 57% of homes were on the market for under a month. NAR’s  Chief Economist,  Lawrence Yun, had this to say, “What is available for sale is going under contract at a rapid pace. Since NAR began tracking this data in May 2011, the median days a listing was on the market was at an all-time low in April, and the share of homes sold in less than a month was at an all-time high.” Strong buyer demand, a good economy, and a low inventory of new and existing homes for sale created the perfect storm to accelerate the time between listing and signing a contract. The chart below shows the median days on the market from April 2017 to April 2018: Bottom Line If you are a homeowner who is debating whether or not to list your home for sale, know that national market conditions are primed for a q