Category: Buying Myths

  • Home Buying Myths Slayed [INFOGRAPHIC]

    Some Highlights: The average down payment for first-time homebuyers is only 6%! Despite mortgage interest rates being over 4%, rates are still below historic numbers. 88% of property managers raised their rents in the last 12 months!
    Written by Denise Zervos
  • Buying Is Now 26.3% Cheaper Than Renting in the US

    The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting, with a traditional 30-year fixed rate mortgage, in 98 of the 100 largest metro areas in the United States. In the six years that Trulia has conducted this study, this is the first time that it was cheaper to rent […]
    Written by Denise Zervos
  • What You Need to Know About the Mortgage Process [INFOGRAPHIC]

    Some Highlights:

    • 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.
    Written by Denise Zervos
  • First-Time Home Buyers Continue to Put Down Less Than 6%!

    According to the Realtors Confidence Index from the National Association of Realtors, 61% of first-time homebuyers purchased their homes with down payments below 6% in 2017. Many potential homebuyers believe that a 20% down payment is necessary to buy a home and have disqualified themselves without even trying, but in March, 71% of first-time buyers […]
    Written by Denise Zervos
  • House-Buying Power at Near-Historic Levels

    We keep hearing that home affordability is approaching crisis levels. While this may be true in a few metros across the country, housing affordability is not a challenge in the clear majority of the country. In their most recent Real House Price Index, First American reported that consumer “house-buying power” is at “near-historic levels.” Their […]
    Written by Denise Zervos
  • You DO NOT Need 20% Down to Buy Your Home NOW!

    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 […]
    Written by Denise Zervos
  • The Cost of Renting vs. Buying [INFOGRAPHIC]

    Some Highlights: Historically, the choice between renting or buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (28.8%) vs. the percentage needed to buy a median-priced home (17.1%)...
    Written by Denise Zervos
  • Why Home Prices Are Increasing

    There are many unsubstantiated theories as to why home values are continuing to increase. From those who are worried that lending standards are again becoming too lenient (data shows this is untrue), to those who are concerned that prices are again approaching boom peaks because of “irrational exuberance” (this is also untrue as prices are not at peak […]
    Written by Denise Zervos
  • Buying a Home Is Cheaper Than Renting in the Majority of the US

    The results of the 2018 Rental Affordability Report from ATTOM show that buying a median-priced home is more affordable than renting a three-bedroom property in 54% of U.S. counties analyzed for the report. The updated numbers show that renting a three-bedroom property in the United States requires an average of 38.8% of income. The least affordable market for […]
    Written by Denise Zervos
  • Home Buying Myths Slayed [INFOGRAPHIC]

    Some Highlights: The average down payment for first-time homebuyers is only 6%! Despite mortgage interest rates being over 4%, rates are still below historic numbers. 88% of property managers raised their rents in the last 12 months! The credit scor...
    Written by Denise Zervos
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