Statistics That Sum Up the American Housing Market

Today’s housing market is fast-paced and often pricier than it’s been in decades. Both renters and buyers are facing challenges in finding a place to call home.

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Both sellers and homeowners also face their own set of challenges — tied to the line they walk between seeing their home as a personal extension of themselves as well as one of their biggest financial investments. The Zillow Group Consumer Housing Trends Report 2017 is a deep dive into understanding all these challenges as well as the deep desires people have around home.

Zillow surveyed over 13,000 people to determine how Americans rent, buy, sell and even think about real estate as part of the report research. Some of our discoveries could be…

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The People You Need When Buying a Fixer-Upper

No one ever said buying a fixer-upper is easy. But with the right experts on your team, you’ll tackle any problem with confidence.

Buying a move-in ready house sounds like an ideal situation for buyers, although the reality is many of these homes come with a steep price tag.

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Sometimes investing in a fixer-upper is your best shot at getting your dream house and neighborhood. If you’re able to look past the flaws and envision the home’s potential, you’ve passed the first challenge. But vision can only get you so far. If you’re looking to make significant renovations, it’s always helpful to have back up from the professionals.

I’m currently in the middle of a major gut-remodel of a…

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5 Secret Sources of Down Payment Money

5 Secret Sources of Down Payment Money

The down payment: It’s the biggest test of our ability to save money that most of us will ever face, and one that stands between us and our ability to become a homeowner.

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It can be tricky to stockpile enough money for a down payment, but it’s also an opportunity. The more money you put down, the more choice you’ll have about how much house you can afford and what you want the monthly payment to be. Plus, building up a cash cushion will definitely give you peace of mind once you’re in your new home.

Here’s How to Boost Your Down Payment Savings

1. Go local.

Gone are the times when nationwide programs allowed for the zero-down loan, the federal…

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Does Owning a Home Affect Financial Stability?

Does Owning a Home Affect Financial Stability?

The Consumer Financial Protection Bureau (CFPB) released its report on the financial well-being in America, showing most Americans are generally satisfied with their household situation.

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According to the report, average adults who answered to be “very satisfied” in the place they live have a higher level of financial stability (10 points by the metrics of the data, at 60,) than those that report being “less than very satisfied,” which stood at 50 points.

The report, notes, however, that this could be a chicken or an egg situation, “It is possible that being satisfied with one’s residence influences financial well-being, but it is also possible that individuals with…

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How the points you pay determine your mortgage rate

What affects your mortgage rate?

Your mortgage rate depends on many factors, like your property location, the economy, and loan size. One really influential factor is the amount you pay for your home loan. And fortunately, it's a variable over which you have complete control.

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When you pay more to have a lower rate, this is called "buying down" your mortgage rate, and the fees you pay are called "points." each point is one percent of the loan amount.

How do points drive your mortgage rate?

The relationship between your mortgage rate and its costs is an inverse one. When other factors are equal, a loan with higher fees has the lower interest rate. Home loans with lower rates are obviously more desirable, so…

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58% Of Homeowners See A Drop In Home Values Coming

58% Of Homeowners See A Drop In Home Values Coming

According to the recently released Modern Home buyer Survey from ValueInsured, 58 percent of homeowners think there will be a “housing bubble and price correction” within the next 2 years.

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After what transpired just ten years ago, we can understand the concern Americans have about the current increase in home prices. However, this market has very little in common with what happened last decade.

The two major causes of the housing crash were:

1. A vast oversupply of housing inventory caused by home builders building at a pace that far exceeded historical norms.
2. Lending standards that were so relaxed that unqualified buyers could easily obtain…

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How Much Mortgage Can You Afford?

Before you start scheduling showings or visiting open houses, make sure you have an accurate idea of your budget and how much mortgage you can afford.

Before you plan to spend the maximum amount you’ve been approved for, consider whether you can really afford the mortgage your lender offers.

According to the latest data from Trulia, the median selling price for a home is $192,000. That’s far more than most of us could afford to pay in cash, and why most of us take out a mortgage. But don’t rely on a lender to tell you how much of your monthly income you can comfortably spend on your home. They may let you borrow the maximum possible amount, but that doesn’t mean you should—or must—take them up on the offer.…

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