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.
You don’t actually have to put 20% down for a house. For a first time buyer, you only have to put 6% down on a house which means if a house is listed at $310,600, you only pay $18,636. There are also many programs to lower your down payment even more!.
Read MoreIf you’re looking to start downsizing, now maybe the best time! 1 story homes are being built rapidly so there will likely be a home just made from you! Especially if you have more equity from a previous home, you’re in great shape.
Read MoreIn light of current events, home prices have actually risen with scarcity. Many experts thought this was going to be the worst year for the market, while in fact the average price of a home has gone up by 6.5%!
Read MoreHomeowners are in luck! With the recent events of COVID-19, there are more options for current homeowners to prevent foreclosure. Even though there was talk of a repeat of what happened in the 2008 housing crash, with mortgage forbearance, and increased equity homeowners can change all that.
Read MoreAlthough uncertainty loomed over this pas year, home price appreciation has risen and doesn’t plan to stop anytime soon. Since less homeowners are looking to sell at this time, many buyers are excited to bid on their next purchase which in turn, drives the list price of the home up! Contrary to popular belief, now may be the best time to sell your home if you're looking to get the best outcome.
Read MoreOne of the best ways to build your family's financial future is through homeownership. Recent data from the Federal Reserve indicates the net worth of a homeowner is actually over 40 times greater than that of a renter. Maybe it's time to start thinking about buying a home, especially when they're so affordable in today's market.
Every three years the Survey of Consumer Finances shows the breakdown of how owning a home helps build financial security. In the graph below, we see that the average net worth of homeowners continues to grow, while the net worth of renters tends to hold fairly steady and be significantly lower than that of homeowners. The gap between owning and renting just keeps getting wider over time, making homeownership more and more desirable for those who are ready.
For many families, homeownership serves as a form of ‘forced savings.' Every time you pay your mortgage, you're contributing to your net worth by increasing the equity you have in your home (See chart below):The impact of home equity is part of why Gallup reports that Americans picked real estate as the best long-term investment for the seventh year in a row. According to this year's survey, 35% of Americans chose real estate over stocks, savings accounts, gold, and bonds.
Today, there are great opportunities available for those planning to buy a home. The housing market has made a full recovery, and all-time low interest rates are giving homebuyers a big boost in purchasing power. If you're ready, buying a home this fall can set you up to increase your net worth and create a safety net for your family's future.
Build your family net worth through home ownership.. You don’t need 20% down and in some cases through many State grants and opportunities you can find yourself owning a home with zero money down.
CALL US TODAY- We have a Realtor on Duty 10-7 Daily!-734-480-8650.
