Do You Have Equity on Your Side?
When the housing bubble burst, home values plummeted, sending many mortgages underwater. Thankfully, the tide has turned: According to RealtyTrac, negative equity rates are at their lowest level since peaking in 2012.
• As of the end of the third quarter, 16.9 percent of U.S. homeowners with a mortgage are underwater, down from a peak of 31.4 percent in 2012 Q1.
• The negative equity rate is less than half of its peak value in 23 of the largest 35 metro areas.
• Negative equity is forecasted to fall further, projected to be 15.2 percent in 2015 Q3.
• 1.9 percent of homeowners with a mortgage remain significantly underwater, owing more than twice their homes’ value.
A word of advice: Don’t try to figure out…
Consumer Optimism a Good Sign for the Housing Market
"Consumers are as positive about their personal finances at the start of 2015 as they have been since we launched the National Housing Survey in 2010, and this optimism seems to be spilling over into housing market attitudes," said Doug Duncan, senior vice president and chief economist at Fannie Mae. "Consumers are more optimistic about the environment both for buying and for selling a home today, and the share who plan to own on their next move has jumped back up, reversing a three-month trend toward renting. These results are in line with lender optimism about future growth in their mortgage origination business, as shown in our Mortgage Lender Sentiment Survey™. Overall, these are good signs…
Two Great Reasons to Buy not Rent
There are many people debating whether they should renew the lease on their apartment or sign a contract to purchase their first home. Based on a recent study, here are two reasons buying a home might make more sense:
5 Reasons to Sell Your Home Before Spring
Is spring closer than we think? Depending on which Groundhog you witnessed, you may have less time than you think to get your home on the market before the busy spring season. Many sellers feel that the spring is the best time to place their home on the market as buyer demand traditionally increases at that time of year. However, the next six weeks before spring hits also have their own advantages.
5 Reasons to Sell Now
1. Demand is Strong
Foot traffic refers to the number of people out actually physically looking at homes right now. The latest foot traffic numbers show that there are currently more prospective purchasers looking at homes than at any other time in the last 12 months, which includes…