Houston Homes and Rentals

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According to a recent  survey  conducted by  Genworth Financial Inc.  at the  Annual Mortgage Bankers’ Association Secondary Market Conference , 69% of potential first-time buyers still believe a 20% down payment is necessary to buy in today’s market. Nearly 40% of mortgage industry professionals surveyed believe that a lack of knowledge about the home-buying process is keeping potential buyers on the sidelines. Saving for a down payment is often cited as a huge barrier for first-time homebuyers to make the leap into homeownership. If homeowners believe that they need a 20% down payment to enter the market, they also believe that they will have to wait years (in some markets) to come up with the necessary funds to buy their dream homes. The greatest source of confusion cited in the survey results centered around down payments. The results are broken down in the chart below: Rohit Gupta,  CEO of Genworth Mortgage Insurance  had this to sa...

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The residential housing market has been hot. Home sales have bounced back solidly and are now at their  fourth highest pace  over the past year. Demand has remained strong ­throughout spring as many real estate professionals are reporting bidding wars with many homes selling above listing price. What about your house? If your house hasn’t sold, it could be the price. If your home is on the market and you are not receiving any offers, look at your price. Pricing your home just 10% above market value dramatically cuts the number of prosp­­ective buyers that will even see your house.  See chart below. Bottom Line The housing market is hot. If you are not seeing the results you want, sit down with your agent and revisit the pricing conversation. Simplifying The Market Find Out Your Home's Value For Free! Houston Real Estate Houston Realtor Leslie Don Wilson Houston Realtor Houston Real Estate Agent Greater Houston He...

Here are five reasons listing your home for sale this summer makes sense. 1. Demand Is Strong The latest  Buyer Traffic Report  from the  National Association of Realtors (NAR)  shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase… and are in the market right now! More often than not, multiple buyers are competing with each other to buy a home. Take advantage of the buyer activity currently in the market. 2. There Is Less Competition Now Housing  inventory  is currently at a  4.2-month supply , well under the 6-months needed for a normal housing market. This means, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory could be coming to the market soon. There is a pent-up desire for many homeowners to move, as they were unab...

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According to the latest  report   from the  US Census Bureau , more Americans chose to purchase a home over signing a lease to rent in the first quarter of 2017. This marks the first time since 2006 that the number of new homeowner households outpaced the number of new renter households. Of the 1.22 million new households that were formed in the first quarter, 854,000 were new owner households making the jump straight to home ownership rather than renting first. That means that the homeownership rate amongst new households was 70%! This is huge news as the national homeownership rate is currently 63.6% and has only ever come close to this figure in the second quarter of 2004 when the homeownership rate reached an all-time high of 69.2%. A recent  Wall Street Journal   article  pointed to the uptick in first-time homebuyers coming to market as a reason for the jump: “The return of first-time buyers is accelerating. In all they have accounted ...

People often ask if now is a good time to buy a home, but nobody ever asks when a good time to rent is. Regardless, we want to make certain that everyone understands that today is NOT a good time to rent. The  Census Bureau  recently  released  their 2017 first quarter median rent numbers. 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! Simplifying The Market Find Out Your Home's Value For Free! Hoston Homes And Rentals Houston Realtor Leslie Don W...