Should I Buy Now? Or Wait Until Next Year? [INFOGRAPHIC]

Some Highlights:

  • The cost of waiting to buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time.

  • Freddie Mac predicts interest rates to rise to 5.2% by the third quarter of 2019.

  • CoreLogic predicts home prices to appreciate by 5.1% over the next 12 months.

  • If you are ready and willing to buy your dream home, find out if you are able to!

Great Reasons to sell your home in the FALL!

Great Reasons to sell your home in the FALL!

Fall is my favorite time of the year. The colors are soothing. It’s not too hot and it hasn’t gotten cold yet. People are just about to get into the holiday frenzies and are payoing close attention to home. Should they host this year or visit? Have they outgrown the home for parties and is it time to sell and move into something larger.. Yep, my favorite time of year..
Read this week’s article to find out if you would be better off selling now or waiting until spring!

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25% of Homes with a Mortgage are Now Equity Rich!

Rising home prices have been in the news a lot lately and much of the focus has been on whether home prices are accelerating too quickly, as well as how sustainable the growth in prices really is. One of the often-overlooked benefits of rising prices, however, is the impact that they have on a homeowner’s equity position.

Home equity is defined as the difference between the home’s fair market value and the outstanding balance of all liens (loans) on the property. While homeowners pay down their mortgages, the amount of equity they have in their homes climbs each time the value of their homes go up!

According to the latest Equity Report from ATTOM Data Solutions, “13.9 million U.S. properties in Q2 2018 were equity rich — where the combined estimated balance of loans secured by the property was 50 percent or less of the property’s estimated market value — representing 24.9% of all U.S. properties with a mortgage.”

This means that nearly a quarter of Americans who have a mortgage would be able to sell their homes and have a significant down payment toward their next home. Many who sell could also use their new-found equity to pay off high-interest credit cards or help children with tuition costs.

The map below shows the percentage of properties with a mortgage in each state that were equity rich in Q2 2018.

First time buyers should not be afraid of getting Pre-Approved

 First time buyers should not be afraid of getting Pre-Approved

If you are a first time buyer and have questions about the process of owning a home you're in luck. The Team Hinton Group will sit down with you and go through the entire process from finding a lender to preparing for close.  One of the most stressful parts of owning your first home is the unknown- you don't know what you don't know.  To get a bit more information on the pre approval process continue to read more of this blog

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Top 9 Home Design Trends to Watch in 2018

Top 9 Home Design Trends to Watch in 2018

We frequently get questions from clients who are taking on decorating and remodeling projects and want to ensure their dollars are invested wisely.

Which looks will last for years to come, and which ones will feel dated quickly? What colors and styles are most popular among buyers in our area? How can I add the most value to my home?

So we’ve rounded up some of the hottest trends in home design to help guide you through the process. Whether you’ve planned a simple refresh or a full-scale renovation, making smart and informed design choices will help you maximize your return on investment … and minimize the chance of “remodeler’s remorse” down the road.

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Which Comes First... Marriage or Mortgage?

Which Comes First... Marriage or Mortgage?

According to the National Association of REALTORS most recent Profile of Home Buyers & Sellers, married couples once again dominated the first-time homebuyer statistics in 2017 at 57% of all buyers. It is no surprise that having two incomes to save for down payments and contribute to monthly housing costs makes buying a home more attainable.

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Real Estate 2018: What to Expect

Real Estate 2018: What to Expect

Get ready for another strong year in the 2018 housing market! U.S. home values and sales volume will continue to rise in 2018. Find out how you can maximize your Real Estate selling or buying this coming year.

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One Year Anniversary in Ypsilanti

One Year Anniversary in Ypsilanti

The corner of Pearl and Washington Street is one of downtown Ypsilanti's Location most lively intersections and home to the Hinton Real Estate Group office. This January marks the one year anniversary at 36 North Washington Street, and what a year it has been! Highlighted by many the many positive people and community connections we’ve made. We look forward to more in 2018! 

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6 Ways to Cut Your Heating Bills This Winter

6 Ways to Cut Your Heating Bills This Winter

Turning up the heat too often during the winter could translate into a shocking heating bill each month. Nobody wants to pick between paying for heat and other necessary expenses. With these tips, homeowners can minimize their heating expenses without being left in the cold.

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93% Believe Homeownership Is Important In Attaining The American Dream

Americans continue to believe that homeownership is important in achieving the American Dream. A recent survey by NeighborWorks America reported that:

“Owning a home remains a core element of the American Dream.”

When asked “How important a part of the American dream is owning a home?”

  • 18% of those surveyed said it was the most important part
  • 53% of those surveyed said it was very important
  • 22% of those surveyed said it was somewhat important

Homeownership and Financial Stability

The survey also revealed that 81% of Americans believe that owning a home leads to a family being more financially stable. This feeling was reiterated by Zillow Senior Economist Aaron Terrazas who, in a recent press release, explained:

“After about a two-year slowdown, rent growth is starting to pick back up across the nation…Looking into 2018, rent is expected to continue gaining.

More widespread rent growth could mean home buying demands stay high, as renters who can afford it move away from the unpredictability of rising rents toward the relative stability of a monthly mortgage payment instead.” (emphasis added)

Bottom Line

Owning a home always has been, and always will be, a crucial part of attaining the American Dream.

DOWNLOAD A FREE GUIDE to Selling Your Home This Winter

The Impact Of Tight Inventory On The Housing Market

The housing crisis is finally in the rear-view mirror as the real estate market moves down the road to a complete recovery. Home values are up, home sales are up, and distressed sales (foreclosures and short sales) have fallen to their lowest points in years. It seems that the market will continue to strengthen in 2018.

However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout the winter, supply is not keeping up.

Here are the thoughts of a few industry experts on the subject:

National Association of Realtors

“Total housing inventory at the end of November dropped 7.2 percent to 1.67 million existing homes available for sale, and is now 9.7 percent lower than a year ago (1.85 million) and has fallen year-over-year for 30 consecutive months. Unsold inventory is at a 3.4-month supply at the current sales pace, which is down from 4.0 months a year ago.”

Joseph Kirchner, Senior Economist for Realtor.com

“The increases in single-family permits and starts show that builders are planning and starting new construction projects, that’s a good thing because it will help to relievethe shortage of homes on the market.”

Sam Khater, Deputy Chief Economist at CoreLogic

Inventory is tighter than it appears. It’s much lower for entry-level buyers.”

Bottom Line

If you are thinking of selling, now may be the time. Demand for your house will be strong at a time when there is very little competition. That could lead to a quick sale for a really good price.

 

DOWNLOAD A FREE GUIDE to Selling Your Home This Winter

Thinking of Selling in the Winter?

Thinking of Selling in the Winter?

It’s no surprise that listing a home for sale during the spring saw the largest return, as the spring is traditionally the busiest season for real estate. What is surprising, though, is that listing during the winter came in second!

DOWNLOAD YOUR FREE GUIDE to Selling your home this Winter!

 

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Read and Grow Rich: Black Stone Bookstore and Cultural Center

Read and Grow Rich: Black Stone Bookstore and Cultural Center

A good book store is like your favorite relatives house; you love going there-and you never know what you’ll find. Kip and Carlos, co-owners of Blackstone Bookstore and Culture Center reflect on five years in the business and the importance of a space for their message. There’s never a shortage of new and captivating reads, rich body butters amidst tubs of shea butter, imported curios, or an event to attend- check out our interview!

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