by Keeping Current Matters
In 1963, Martin Luther King, Jr. led and inspired a powerful movement with his famous “I Have a Dream” speech. Through his passion and determination, he sparked interest, ambition, and courage in his audience. Today, reflecting on his message encourages many of us to think about our own dreams, goals, beliefs, and aspirations. For many Americans, one of those common goals is owning a home: a piece of land, a roof over our heads, and a place where our families can grow and flourish.If you’re dreaming of buying a home this year, the best way to start the process is to connect with a Real Estate professional to understand what goes into buying a home. Once you have that covered, then you can answer the questions below to make the best decision for you and your family.1. How Can I Better Understand the Process, and How Much Can I . . .

by Keeping Current Matters
According to an Urban Institute study, homeowners who purchase a house before age 35 are better prepared for retirement at age 60.The good news is, our younger generations are strong believers in homeownership.According to a Freddie Mac survey,“The dream of homeownership is alive and well within “Generation Z,” the demographic cohort following Millennials. Our survey…finds that Gen Z views homeownership as an important goal. They estimate that they will attain this goal by the time they turn 30 years old, three years younger than the current median homebuying age (33).”If these aspiring homeowners purchase at an early age, the Urban Institute study shows the impact it can have.Based on this data, those who purchased their first homes when they were younger than 25 had an average of $10,000 left on their mortgage at age 60. . . .

by Keeping Current Matters
Outside of a strong economy, low unemployment, and higher wages, there are three more great reasons why you may want to consider buying your dream home this year instead of waiting.1. Buying a Home is a Great InvestmentSeveral reports indicate that real estate is a good investment, topping other options such as gold, stocks, bonds, and savings. Why? Real estate helps build equity, a form of investing for you and your family. According to CoreLogic’s Equity Report,“U.S. homeowners with mortgages (roughly 64% of all properties) have seen their equity increase by a total of nearly $457 billion since the third quarter 2018, an increase of 5.1%, year over year.”This means the average homeowner gained approximately $5,300 in equity over the past year. If you want to start building your equity, put your housing costs to work for you through . . .

by Keeping Current Matters
Rising home prices coupled with the current inventory in today’s market may cause some homeowners to consider selling their homes on their own (known in the industry as a For Sale By Owner). However, a FSBO might be hard to execute well for the vast majority of sellers.Here are the top 5 reasons not to FSBO:1. Online Strategy for Prospective PurchasersStudies have shown that 93% of buyers search online for a home. That’s a pretty staggering number! Most real estate agents have an Internet strategy to promote the sale of your home. Do you?2. Results Come from the InternetAccording to NAR, here’s where buyers found the homes they actually purchased:55% on the Internet28% from a Real Estate Agent10% Other6% from a Yard Sign1% from NewspapersThe days of selling your house by putting up a sign in your yard or placing an ad in the paper are . . .

by Keeping Current Matters
Questions continue to rise around where home prices will head in 2020. The latest forecast from CoreLogic shows continued appreciation at 5.4% over the next year:Additionally, ARCH Mortgage Insurance Company in their current Housing and Mortgage Market Review revealed their latest ARCH Risk Index, which estimates the probability of home prices being lower in two years. Based on the most recent results, 32 of the 50 U.S. states (plus D.C.) had a minimal probability of lowering by 2021.Bottom LineExperts forecast home price appreciation to continue at a moderate rate as we move through 2020 and beyond. With appreciation growing, now is a great time to reach out to a real estate professional and plan for your next . . .

by Keeping Current Matters
Studies have shown that, in many cases, the largest asset a family owns is the house they live in. Over the last twelve months, that asset has gained substantial value.CoreLogic just released their 2019 3rd Quarter Homeowner Equity Insights Report. The report revealed that:“U.S. homeowners with mortgages (roughly 64% of all properties) have seen their equity increase by a total of nearly $457 billion since the third quarter 2018, an increase of 5.1%, year over year.”The equity in a property is determined by comparing the current value of the property against the outstanding mortgage debt. As prices rise, the equity in a home increases.The report went on to explain that the average homeowner gain in equity over the last twelve months was $5,300. Here’s a map showing the average equity gain by state:Since the housing crash in 2008, many . . .

by Keeping Current Matters
Saving for a down payment is a key step in the homebuying process, and it’s not the only piece you need to include in your budget. Another factor that’s important to plan for is the closing costs required to obtain a mortgage.What Are Closing Costs?According to Trulia,“When you close on a home, a number of fees are due. They typically range from 2% to 5% of the total cost of the home, and can include title insurance, origination fees, underwriting fees, document preparation fees, and more.”For those who buy a $250,000 home, for example, that amount could be between $5,000 and $12,500 in closing fees. Keep in mind, if you’re in the market for a home above this price range, your costs could be significantly greater. As mentioned before,Closing costs are typically between 2% and 5% of your purchase price. Trulia gives more . . .

by Keeping Current Matters
Below are five compelling reasons to list your house this winter.1. Demand Is StrongThe latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains 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, in many areas of the country, multiple buyers are competing with each other to buy the same home.Take advantage of the buyer activity currently in the market.2. There Is Less Competition NowInventory is still under the 6-month supply 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 the market.Historically, a homeowner would stay an average of six years in his or her home. Since 2011, that . . .

by Keeping Current Matters
Around this time each year, many homeowners decide to wait until after the holidays to list their houses. Similarly, others who already have their homes on the market remove their listings until the spring. Let’s unpack the top reasons why listing your house now or keeping it on the market this winter may be the best choice you can make.Here are seven great reasons not to wait:
Relocation buyers are out there now. Many companies are still hiring throughout the holidays, and they need their new employees to start as soon as possible.Purchasers who are looking for homes during the holidays are serious buyers and are ready to buy now.You can restrict the showings on your home to days and times that are most convenient for you. You will remain in control.Homes show better when decorated for the holidays.There is minimal competition for . . .

by Keeping Current Matters
In a recent article, First American shared how millennials are not really any different from previous generations when it comes to the goal of homeownership; it is still a huge part of their American Dream. The piece, however, also reveals, “Saving for a down payment is one of the biggest obstacles faced by first-time home buyers. Dispelling the 20 percent down payment myth could open the path to homeownership for many more.” Myth #1: “I Need a 20% Down Payment”Buyers often overestimate how much they need to qualify for a home loan. According to the same article:“Americans still overestimate the qualifications needed to get a mortgage, resulting in qualified potential buyers not even considering homeownership. Indeed, the Urban Institute report revealed that 16 percent of consumers believed that the minimum down payment . . .