Tag Archive: affordability

Apr 07

Hot housing market: home buyers are spending more than expected

Home buyers are busting budgets — and in some cases selling things they love — to snag their dream houses. A third of home buyers blew through the upper limit of what they planned to spend, topping that cap by an average $16,510, according to a Owners.com survey of 1,214 Americans who purchased a house within the …

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Feb 02

Where Are Interest Rates Headed in 2016?

With interest rates still below 4%, are you sitting on the fence … act now and purchase a new home, or, wait until next year? However, if you look at what the four major reporting agencies are predicting for 2016, it may make the decision for you. The chart below averages the predictions by quarter. With the …

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Dec 27

Most expensive cities to buy a home puts Seattle #23

Home prices bubbling again? Some faint concern is evidenced when prices raise 15% in a year… which we have seen in King County with November’s median price at $426,000. But our prices are not the most ‘un-affordable’ for residents earning a median income for the area. San Francisco prices exorbitant In San Francisco, only 14% of …

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Nov 29

5 reasons to buy your home now… not next Spring

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. …

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Nov 23

Why the interest rate matters for your home purchase

Let’s suppose that you want to keep your mortgage payment around $1900 per month. With an interest rate of 5% you can qualify for a $360,000 home. However, if the interest rate is lower, at 4.25%, you can qualify for a home that’s $390,000. That’s $30,000 more home you can purchase for roughly the same …

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Mar 26

42% cheaper to buy in Seattle area than to rent

Wow! Did you realize that today’s mortgage rates and home prices combine to make it 42% cheaper to buy a home in the Seattle area than to rent? Big difference, eh? Nationwide it’s 44% cheaper to buy than to rent… but this picture will be changing according to Trulia.  Check Trulia’s infographics to see where …

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Mar 22

Do you have enough money to buy your first home? What are today’s rates?

One of the things many of us think about as children is growing up and buying a house. It seems like the crux of reaching adulthood. But if you take the leap into homeownership before you’re ready, it’s possible you could fall into a financial disaster that may take years from which to recover. So, …

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Feb 04

5 Reasons You Should Buy Your Home NOW!

Many potential buyers are waiting until they can be 100% sure the real estate market has fully recovered before making the move to purchase a home. Here are five reasons why waiting to buy their home might not make sense any longer… 1) Prices Are on the Rise The latest Case Shiller Home Price Index revealed that home prices …

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Jan 23

Will 20% Soon Be the Minimum Down Payment on a Home?

Some say that the looming regulatory tidal wave for home mortgages is about to break upon us… Several government agencies are reviewing data to determine what will be the minimum down payment required under the new Qualified Residential Mortgage (QRM) guidelines scheduled to be revealed in the next few months. In the original Mortgage Market Note issued by the FHFA, …

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Dec 04

Buying is 42% cheaper than renting in Seattle area

It’s more affordable to buy a home than to rent in the 100 largest metros in the nation. That’s the case if you plan to stay in the home for seven years, which is the average time Americans traditionally live in a home before moving. The findings come from real estate data provider Trulia, which conducted a …

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