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5 Reasons to Buy a Home Now

5 Reasons to Buy a Home Now

Originally posted by THE KCM CREW oat http://www.KCMblog.com

Based on prices, mortgage rates and soaring rents, there may have never been a better time in real estate history to purchase a home than right now. Here are five major reasons purchasers should consider buying:

Supply Is Shrinking

With inventory declining in many regions, finding a home of your dreams may become more difficult going forward. There are buyers in more and more markets surprised that there is no longer a large assortment of houses to choose from. The best homes in the best locations sell first. Don’t miss the opportunity to get that ‘once-in-a-lifetime’ buy.

Price Increases Are on the Horizon

Prices will bounce along the bottom this winter. However, projections call for appreciation after that. Several studies and surveys call for price increases over the next few years starting in 2013. One such survey shows that prices will increase over 10% by 2016.

Rents Are Skyrocketing

Rents historically increase by 3.2% on an annual basis. A study issued earlier this year projects rent increases of 4% for the next two years. Trulia recently reported that rents this year have actually shot up by 5.4%.

Interest Rates Are at Historic Lows

Federal Reserve Chairman Ben Bernanke has kept interest rates low in an effort to stimulate a lethargic economy. He understands that low rates will help housing and housing is a key to bringing back the economy. As the economy approves, the need to keep rates low will no longer exist. The 30-year-mortgage rate before the financial crisis was 6.57% (August 2007).

Buy Low, Sell High

We would all agree that, when investing, we want to buy at the lowest price possible and hope to sell at the highest price. Housing can create family wealth as long as we follow this simple principle. Today, real estate is selling ‘low’. It’s time to buy.

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Mortgage Rates for September 18, 2012

Below you can see the mortgage rates from September 18, 2012.  
Please click the image below to view additional mortgage rates. 

These rates are provided to you by HomeServices Lending.  Semonin Realtors® is not a mortgage lender; please contact HomeServices Lending directly to learn more about its mortgage products and your eligibility for such products.

Mortgage Rate for August 7, 2012

Below you can see the mortgage rates from August 7, 2012.  
Please click the image below to view additional mortgage rates.

These rates are provided to you by HomeServices Lending.  Semonin Realtors® is not a mortgage lender; please contact HomeServices Lending directly to learn more about its mortgage products and your eligibility for such products.

Homeownership: The American Dream

From The KCM Crew http://www.kcmblog.com

A major benefit to homeownership is community. There is a greater sense of community among homeowners than there is with renters. Studies have shown that homeowners have a higher participation in local volunteer activities; participate more in local political activities and organizations; have higher voting rates; and are more involved in self-help activities (like the PTA and neighborhood crime watches) than those who rent. Homeowners do not move as frequently as renters, therefore providing more neighborhood stability. This helps reduce crime and support neighborhood upkeep and value.

Let’s look at homeownership as an investment. In 1998 the average Homeowner’s net worth exceeded that of renters by 31 times. In 2001 it was 36 times and eventually in 2007 it was all the way up to 46 times that of renters. Even in these toughest times, the wealth of the homeowner is still over 30 times that of renters. Now, homeownership isn’t about a guaranteed financial short-term return – the market goes up, down and back up again. We have to be prepared for the long-term and a key component to wealth is homeownership.  In Pew Research Center’s The Home as an Investment Survey, 81% of Americans agree that buying a home is still the best long-term investment a person can make.

There’s also the aspect of an educational investment. United States Immigrants all talk about home ownership because they want a better education for their children. It’s proven that children of homeowners achieve greater math and reading scores, they have lower high school dropout rates, and more years of schooling by the age of 25.

Not to mention there’s also a greater social network among homeowners than renters. You have a built in support system of neighbors and friends. You know the local merchants and they know you. You have that support system for you and your family – and it’s there for life.

There you have it. You now know the benefits to homeownership and the American dream.

Poll: What is the Most Expensive Item You Have Purchased for Your Home?

Need a new home in which to put your most expensive items?  Click here to begin your home search.

Mortgage Rates for May 15, 2012

Below you can see the mortgage rates from May 15, 2012.  
Please click the image below to view additional mortgage rates.  


These rates are provided to you by HomeServices Lending.  Semonin Realtors® is not a mortgage lender; please contact HomeServices Lending directly to learn more about its mortgage products and your eligibility for such products.

Poll: What “House” Song Reminds You of Home?

“Ain’t got no home?”  Click here to start your search!

Mortgage Rates for April 24, 2012

Below you can see the mortgage rates from April 24, 2012.  
Please click the image below to view additional mortgage rates.

These rates are provided to you by HomeServices Lending.  Semonin Realtors® is not a mortgage lender; please contact HomeServices Lending directly to learn more about its mortgage products and your eligibility for such products.

National Housing Survey 2012

Posted by The KCM Crew: www.KCMBlog.com

Each quarter, Fannie Mae releases their National Housing Survey. They survey the American public on a multitude of questions concerning today’s housing market. We like to pull out some of the findings we deem most interesting each time it is released. Here they are for the most recent report:

84% of the general population believes that owning a home makes more sense than renting.

The Most Important Reasons to Buy a Home

When we talk about homeownership today, it seems that the financial aspects always jump to the front of the discussion. However, the study shows that the four major reasons a person buys a home have nothing to do with money. The top four reasons, in order, are:

  1. It means having a good place to raise children and provide them with a good education
  2. You have a physical structure where you and your family feel safe
  3. It allows you to have more space for your family
  4. It gives you control of what you do with your living space (renovations and updates)

The Home as an Investment

Though most people purchase a home for non-financial reasons, everyone realizes there is a money component to homeownership. Here is what they said on this issue:

  • 63% of the general population believes that homeownership is a ‘safe’ investment.
  • 53% believe that homeownership has more potential as an investment than any other traditional asset class.

Rent vs. Buy

We are always interested in the difference people see in renting vs. owning.

  • 64% of renters have aspirations to someday own their own home
  • 70% of renters think that owning is superior to renting

Bottom Line

Our belief in the value of homeownership grows each time this survey is released.

Mortgage Rates for February 21, 2012

Below you can see the mortgage rates from February 21, 2012.  
Please click the image below to view additional mortgage rates.

These rates are provided to you by HomeServices Lending.  Semonin Realtors® is not a mortgage lender; please contact HomeServices Lending directly to learn more about its mortgage products and your eligibility for such products.

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