Vantage Realty Pros |Vantage Realty Professionals

In today’s real estate market, low inventory dominates the conversation in many areas of the country. It can often be frustrating to be a first-time homebuyer if you aren’t prepared. In a Find Real Estate, Homes for Sale, Apartments & Houses for Rent | realtor.com® article entitled, “How to Find Your Dream Home—Without Losing Your Mind,” the author highlights some steps that first-time homebuyers can take to help carry their excitement of buying a home throughout the whole process. 1. Get Pre-Approved for a Mortgage Before You Start Your Search 2. Know the Difference Between Your ‘Must-Haves’ and ‘Would-Like-To-Haves’ 3. Research and Choose a Neighborhood You Want to Live In 4. Pick a House Style You Love and Stick to It 5. Document Your Home Visits More info : Starting the Search for Your Dream Home? Here Are 5 Tips! Website : Vantagerealtypros Like on Facebook : Vantagerealtypros | Facebook.com Follow on Twitter : Vantagerealtypros | Twitter.com

Home prices have been on the rise for the last seven years, leading many housing market analysts to conclude that first-time homebuyers are being shut out of the market due to affordability concerns. The National Association of Realtors (NAR) reports on the percentage of First-Time Home Buyers (FTHB) on a monthly and yearly basis. Their latest report shows that FTHB’s made up 33% of buyers in March, which matches their reported share in 2018. NAR uses survey data from their members to come up with this statistic, so their results do not include every transaction completed. Rather, they only the transactions reported by members who complete the survey. The other entity that reports on FTHB share is the American Enterprise Institute (AEI). The AEI uses data from mortgage applications that define an FTHB as “any borrower who did not have a mortgage for the preceding three years.” More Info : New Research Shows Housing Is Affordable For First-Time Buyers Website : Deflame Na

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 and distressed sales ( foreclosures and short sales ) have fallen to their lowest point in years. The market will continue to strengthen in 2019. 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 has not kept up. Here are the thoughts of a few industry experts on the subject: Lawrence Yun,  Chief Economist  at  National Association of Realtors “Further increases in inventory are highly desirable to keep home prices in check, the sustained steady gains in home sales can occur when home price appreciation grows at roughly the same pace as wage growth.” Jessica Lautz,  Vice President  of  NAR “There’s a supply-demand mismatch… More inventory is needed at the lower end and a price reduction may be needed at

New Study Reveals One Surprising Reason for the Inventory Shortage | Vantage Realty pros There has been a great amount written on millennials and their impact on the housing market. However, the headlines often contradict each other. Some claim this generation is becoming the largest share of first-time home buyers, while others claim millennials don’t want to own a home, blaming them for the dip in homeownership rate. While it is true that millennials have achieved milestones like getting married, having kids, and buying homes later in life than their parents and grandparents did, they are not solely to blame for today’s housing market trends. Freddie Mac’s Insight Report explored the impact of the Silent and Baby Boomer Generations on the housing market. If millennials are unable to find a home to buy at a young age like their predecessors, then who is living in those homes? The answer: Seniors born after 1931 are staying in their homes longer than previous generations, inst