The Team Hinton Real Estate Group blog is a place for all the latest news and updates about the Real Estate market will appear. Learn all about the latest and greatest tips and tricks to buying a home or selling a home. Also, get the latest updates about Team Hinton and our ever growing team of real estate agents in Ypsilanti, Michigan.
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!
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!
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.
National Association of Realtor’s says that now in September 2018 it is a great time to sell. Look at the statistics that show this is proven to be correct!
Read MoreIf 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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