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Millennials are the largest group

Millennials are the largest group of home buyers for the fourth consecutive year, according to the National Association of Realtors 2017 Home Buyers and Sellers Generational Trends Report. Nearly 40% of home buyers were under 36 years old.So what’s driving the change in millennial home ownership?Forty-nine percent of millennial buyers had at least one child, also according to the report. That is up six percentage points from two years ago. Also, while millennials are not racing down the aisle, they are purchasing homes with their partners. Though marriage rates declined, the number of U.S. adults in cohabiting relationships reached nearly 18 million last year, up 29% since 2007. About half of those cohabiters (those living with an unmarried partner) are younger than 35. But most importantly, in a joint Real Estate Investment Survey with Harris Interactive, RealtyShares found that 55% of millennials are enthusiastic about home ownership as an investment, and over half would invest in p…
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Best way to invest

According to Bankrate’s latest Financial Security Index Poll, Americans who have money to set aside for the next 10 years would rather invest in real estate than any other type of investment.Bankrate asked Americans to answer the following question:“What is the best way to invest money you wouldn’t need for 10 years or more?”Real Estate came in as the top choice with 28% of all respondents (3% higher than last year), while cash investments – such as savings accounts and CD’s – came in second with 23% (the same as last year). The chart below shows the full results:The article points out several reasons for these results:“After bottoming out at the end of 2011 following the worst housing collapse in generations, home prices have gone gangbusters recently, climbing back above their record pre-crisis levels. Prices jumped 6.6 percent during the 12 months that ended in May, according to CoreLogic.Toss in persistently low interest rates, tax goodies that come with owning a mortgage, and the…

Today's Housing Market

In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 5%+ over the next twelve months. One major challenge in such a market is the bank appraisal.If prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that recently closed) to defend the selling price when performing the appraisal for the bank.Every month in their Home Price Perception Index (HPPI), Quicken Loansmeasures the disparity between what a homeowner who is seeking to refinance their home believes their house is worth, as compared to an appraiser’s evaluation of that same home.Bill Banfield, VP of Capital Markets at Quicken Loans urges anyone looking to buy or sell in today’s market to remember the impact of this challenge: “While a 1 or 2 percent difference in home value opinions may not seem like a lot, it could be enough to d…

SHORT TERM RENTALS: WHAT YOU MUST KNOW MOUNTAIN REALTY GROUP

Short Term Rentals: What Hosts and Guests Need to Know Websites like Airbnb, Bookings.com and Homeaway have made it easier than ever to rent out your home or apartment to guests. For travelers, these websites make booking a stay easy and offer competitive rates. There are some important legal considerations for both the hosts and guests who use these websites. These include local regulations, liability insurance coverage and protecting yourself from scams. The following tips will help you avoid common problems and make informed decisions. If you have any legal questions contact your LegalShield provider law firm.

BUDGET FRIENDLY HOME SALE PREP BEFORE YOU PUT YOUR HOME ON THE MARKET

Selling a home can be a very stressful process and if a homeowner is attempting to prepare and sell their home with a small budget, the stress is magnified.  There are many homeowners who simply do not have the capital to spend on preparing their home for the market. It’s pretty obvious that a homeowner who has the ability to remodel their kitchen with granite counters, update their bathrooms, and install a new roof prior to listing their home has a much better chance to sell their home quicker.  This does not mean that the seller is going to end up with more money in their pocket after you consider the amount of money they’ve spent on updates and improvements. If you’re looking to prepare and sell your home but don’t have boatloads of money, take a deep breath, it can be done.  By following some simple tips for selling a home on a budget, you’ll be on your way to a successful home sale without having to break your piggy bank. Below you’ll find out what some of the low cost and poten…

Mistakes sellers make in a sellers market

When you’re looking for a home in a seller’s market, you need a plan in place to avoid making mistakes.The real estate market often fluctuates, making it tough to predict whether the market will favor buyers or sellers when it’s your turn to buy. Buyers in a seller’s market can get what they want, but they need to bring their “A” game and be decisive. Here are six common mistakes and how to avoid them.Not making your best offerThe motivation to buy what we want for as little money as possible is deeply engrained in us. So when most people see the listing price of a home, they naturally wonder what they can really get the house for. Offering lower than asking price is a reasonable strategy, especially if the house is overpriced compared with other similar homes in the area, or if it’s a buyer’s market with lots of available inventory. But trying to get a deal when you’re in a seller’s market might not be the best tactic. “In a seller’s market, many buyers do not step up with a strong e…

Spring sellers market

Spring housing: 'Strongest seller's market ever'Even as more homes come on the market for this popular sales season, they're flying off fast.Home prices have now surpassed their last peak, and at the entry level, where demand is highest, sellers are in the driver's seat.Story by : Diana OlickSpring homebuyers are pounding the pavement at a furious pace, but the pickings are getting ever slimmer.Even as more homes come on the market for this traditionally popular sales season, they're flying off fast, with bidding wars par for the course. Home prices have now surpassed their last peak, and at the entry level, where demand is highest, sellers are firmly in the driver's seat."I've been selling real estate for 25 years and this is the strongest seller's market I have ever seen in my entire real estate career," said David Fogg, a real estate agent with Keller Williams in Burbank, California. "A lot of our sellers are optimistically pricing…