The Wave of Millennial Homebuyers Continues to Swell

The Wave of Millennial Homebuyers Continues to Swell | Simplifying The MarketMany have written about the millennial generation and whether or not they, as a whole, believe in homeownership as a part of attaining their American Dream. Comparatively speaking, millennials have taken longer to obtain traditional milestones (like getting married, having kids and buying a home) than generations before them, but that does not mean that […]
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Supply & Demand Will Determine Future Home Values

Supply & Demand Will Determine Future Home Values | Simplifying The MarketWill home values continue to appreciate throughout 2018? The answer is simple: YES! – as long as there are more purchasers in the market than there are available homes for them to buy. This is known as the theory of “supply and demand,” which is defined as: “The amount of a commodity, product, or service […]
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Existing Home Sales Cooling Off This Summer [INFOGRAPHIC]

Some Highlights: According to the National Association of Realtors’ latest Existing Home Sales Report, sales in June were down 2.2% from last year. Inventory of homes for sale showed a modest improvement of 0.5% over last year’s figures, but still r...
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Are You Thinking of Selling Your Home? Competition Is Coming!

Are You Thinking of Selling Your Home? Competition Is Coming! | Simplifying The MarketThe number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the number of building permits issued in June was 850,000, a 0.8% increase from May. […]
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Have You Outgrown Your Starter Home?

Have You Outgrown Your Starter Home? | Simplifying The MarketFor many Americans, buying their first home is their first taste of achieving part of the American Dream. There is a sense of pride that comes along with owning your own home and building your family’s wealth through your monthly mortgage payment. It may seem hard to imagine that the first home you purchased (which […]
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Homebuyers Willing to Sacrifice ‘Must-Haves’ in Favor of Good School Districts

Homebuyers Willing to Sacrifice ‘Must-Haves’ in Favor of Good School Districts | Simplifying The MarketIt should come as no surprise that buying a home in a good school district is important to homebuyers. According to a report from Realtor.com, 86% of 18-34 year-olds and 84% of those aged 35-54 indicated that their home search areas were defined by school district boundaries. What is surprising, however, is that 78% of […]
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Housing Market: Another Gigantic Difference Between 2008 and 2018

Housing Market: Another Gigantic Difference Between 2008 and 2018 | Simplifying The MarketSome are attempting to compare the current housing market to the market leading up to the “boom and bust” that we experienced a decade ago. They look at price appreciation and conclude that we are on a similar trajectory, speeding toward another housing crisis. However, there is a major difference between the two markets. Last […]
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The Cost of Waiting: Interest Rates Edition [INFOGRAPHIC]

Some Highlights: Interest rates are projected to increase steadily heading into 2019. The higher your interest rate, the more money you end up paying for your home and the higher your monthly payment will be. Rates are still low right now – don’t wa...
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How Long Do Most Families Live In A House?

  The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of their data points, which has changed dramatically, is the median tenure of a family in a home, meaning how long a family stays in a home prior to moving. As the graph below shows, over the last twenty years (1985-2008), the median tenure averaged exactly six years. However, since 2014, that average is almost ten years – an increase of almost 50%.   Why the dramatic increase?   The reasons for this change are plentiful! The fall in home prices during the housing crisis left many homeowners in a negative equity situation (where their home was worth less than the mortgage on the property). Also, the uncertainty of the economy made some homeowners much more fiscally conservative about making a move. With home prices rising dramatically over the last several years, 95.3% of homes with a mortgage are now in a positive …

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3 REASONS WHY YOU SHOULD SELL YOUR HOME NOW!

1. HOME PRICES ARE NOW AT THE HIGH LEVELS OF 2005-2007 BUBBLE, and in some areas have exceed those historic highs.  For the past few years we have seen 7-10% appreciation in most areas, including San Diego County with some even higher.   2. THERE IS VERY LITTLE INVENTORY OF HOMES FOR SALE, certainly not enough for  Buyer demand.  What does this mean?  Sellers are receiving multiple offers in the first few days of a  home being listed. This is resulting in bidding wars which naturally pushes the price upwards.  There is pent-up demand with frustrated buyers out there just waiting for their chance at home ownership. 3. INTEREST RATES ARE CLIMBING and are up more than a percentage point from this time last year. The Feds met this week and this is a synopsis of what was reported in the New York Times yesterday. The “Fed” voted unanimously at the end of …

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