Coldwell Banker American Homes Blog
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5
First-Time Homebuyers: Your Time Is Now
Fall is for first-timers.
Seventy of the top 100 largest metropolitan areas see more starter homes on-market in October, November and December, relieving prices 4.8 percent over spring, according to the recently released Trulia Inventory and Price Watch. The most dramatic shifts—in favor of first-time homebuyers.
"Housing markets have long been plagued by tight inventory and worsening affordability, but it's not completely hopeless for would-be homeowners," says Cheryl Young, senior economist at Trulia. "The seasonal swings in listings and prices means buyers will likely find more homes for sale at a lower price in the fall and winter months."
Make no mistake: The housing market is still in a squeeze. Entry-level hom...
13
7 Easy Ways to Watch Your Credit Scores Soar
On the widely used FICO credit score scale, only one in 200 consumers reaches the pinnacle: a score of 850 – a score that has lenders fighting for your business and nets you the best possible interest rates on everything from automobiles to mortgage loans.
In fact, according to Fair Isaac, the company behind the FICO score ratings, consumers who achieve a score of 750 or more are excellent candidates for favorable treatment.
But paying your bills on time and carrying no balances may not be enough to catapult your score to desired levels. Consumer finance experts at The Motley Fool offer simple tips that can help boost your scores into the stratosphere:
Ask for increased credit limits – Not because you plan to use them, but because the higher your credit limits, the less likely you are to use more than 30 percen...
7
How to Find a House Today
This year may be the most difficult in a decade to buy a home, especially for a first-time homebuyer. Prices are soaring in most markets, and for affordable starter homes, the price is rising faster than larger homes.* Supplies are suffering from a three-year inventory drought that also is hitting starter homes hardest. The number of starter and trade-up homes fell 8.7 percent and 7.9 percent, respectively, during the past year, while the inventory of premium homes has fallen by just 1.7 percent, according to Ralph McLaughlin, Trulia's chief economist.*
There's little leeway for mistakes in today's marketplace. Discipline is essential, and the learning curve is stepped. Buying a home is serious business, and in most markets today, it is the most difficult step in the process for move-up buyers, as well as first-timers.
Here are five tip...
26
Larry Theodore
Century 21 American Homes would like to congratulate Larry Theodore - Licensed broker associate - Farmingdale.
Larry was recently honored at the Century 21 Awards Banquet for being the top-producing Century 21 real estate agent in the New York metro region for 2016, as well as one of the top 21 agents in Century 21 Worldwide.
Source: Newsday.com
9
For Your To-Do List: Buy a Home
If you're not planning on buying a home any time soon, perhaps you should be. Just over half (54 percent) of Americans say they are likely to buy a home in the next five years – up 12 percent from last year – according to the 2017 BMO Harris Bank Homebuyers Report. In addition, Americans surveyed will average a 32 percent down payment.
The report, conducted by Pollara, also found that:
- Among likely first-time buyers, 80 percent plan to get preapproved for a mortgage before making an offer and 10 percent are already preapproved.
- Around four-in-five will set a budget before looking for a home.
- The majority (65 percent) of those looking to buy a new home will consult a real estate agent, while 61 percent said they will visit online real estate websites and 38 percent will seek recommendations from friends and family.
The...