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Rosemary Bargas

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Rosemary Bargas

Precept Real Estate Services

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by Rosemary Bargas

August 19, 2019


by Keeping Current Matters
Every three years, the Federal Reserve conducts its Survey of Consumer Finances. Data is collected across all economic and social groups. The latest survey data covers 2013-2016.The study revealed that the median net worth of a homeowner is $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter.Owning a home is a great way to build family wealth.As we’ve said before, simply put, homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth by increasing the equity in your home.That is why Gallup reported Americans picked real estate as the best long-term . . .

August 12, 2019


by Keeping Current Matters
Fannie Mae just released the July edition of their Home Purchase Sentiment Index (HPSI). The HPSI takes information regarding consumers’ confidence in the real estate market from Fannie Mae’s National Housing Survey and condenses it into a single number. Therefore, the HPSI reflects consumers’ current views and forward-looking expectations of housing market conditions.Great News! The index reached its highest level since Fannie Mae began their survey. Breaking it down, the report revealed:The share of Americans who say it is a good time to buy a home increased from the same time last year.The share of those who say it is a good time to sell a home increased from the same time last year.The share of Americans who say they are not concerned about losing their job over the next 12 months increased dramatically (16 percentage points) from the . . .

August 05, 2019


by Keeping Current Matters
On his personal website, self-made millionaire David Bach makes a striking statement: “Not prioritizing homeownership is the single biggest mistake millennials are making.”  He further stated, “Buying a home is an escalator to wealth.”Bach explains:“Young adults in particular aren’t hopping on this escalator, and it’s a costly mistake…If millennials don’t buy a home, their chances of actually having any wealth in this country are little to none.”He then elaborates on the game of homeownership:“Start by crunching the numbers…actually do the math…This way, you’re really clear on your goals and you won’t just say to yourself, ‘I’ll never afford this!’ A good rule of thumb is to make sure your total monthly housing payment doesn’t consume more than 30 percent of your take-home pay.” Bach . . .

July 29, 2019


by Keeping Current Matters
The current housing landscape presents greater home values, low interest rates, and high buyer demand. All of these factors point to the strong market forecasted to continue throughout the rest of the year.There is, however, one thing that may cause the industry to tap the brakes: an overall lack of housing inventory. Buyer demand naturally increases during the summer months, but the current supply is not keeping up.Here is a look at what a few industry experts have to say:Lawrence Yun, Chief Economist at National Association of Realtors“Imbalance persists for mid-to-lower priced homes with solid demand and insufficient supply, which is consequently pushing up home prices.”Mark Fleming, Chief Economist of First American“Market conditions are ripe for increasing home sales with one glaring exception. . . .

July 23, 2019


by Keeping Current MattersWe’re halfway through the year, and with a decline in interest rates as well as home price and wage appreciation, many are wondering what the experts predict for the second half of 2019.Here’s what some have to say: Danielle Hale, Chief Economist at realtor.com“Lower mortgage rates, higher wages and more homes for sale have helped counteract rising home prices, and ultimately, made it so that buyers are able to afford more than last year.” “Our outlook implies 4% growth for the remaining months of the year, predicated on…more supply than last year, the decline in mortgage rates, moderating home price appreciation and improving affordability.”Lawrence Yun, Chief Economist at NAR“Rates of 4% and, in some cases even lower, create extremely attractive conditions for consumers. Buyers, for good reason, are anxious to purchase and . . .

July 17, 2019


by Keeping Current Matters
Over the last few years, many sellers have been hesitant to put their houses on the market because they feared not being able to find another home to buy.We’ve reported on inventory shortages in the past, and it’s been a constant concern for potential buyers throughout recent years. New research shows the inventory concern is starting to decrease among potential buyers.According to First American, the two leading obstacles to homeownership that buyers feel today are Affordability and Limited Inventory. This means the feeling that homes are less affordable has risen, while the fear of limited inventory has decreased, delivering a wealth of good news for sellers.At the same time, over the past 12 months, we’ve seen a steady month-over-month increase in the number of homes coming to market for purchase. In the past, the lack of listings and . . .

May 13, 2019


by Keeping Current Matters
So, you’ve decided to sell your house. You’ve hired a real estate professional to help you through the entire process, and they have asked you what level of access you want to provide to your potential buyers.There are four elements to a quality listing. At the top of the list is access, followed by condition, financing, and price. There are many levels of access that you can provide to your agent so that he or she can show your home.Here are five levels of access that you can give to buyers, along with a brief description:Lockbox on the Door – this allows buyers the ability to see the home as soon as they are aware of . . .
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