J. Kent Erickson, Broker Associate
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Thinking About Buying? Know Your Credit Score

Posted by on Nov 20, 2017 in Uncategorized | 0 comments

Thinking About Buying? Know Your Credit Score Knowing your credit score or getting a recent copy of your credit report is one of the first steps that you can take toward knowing how ready you are to start the home buying process. Make sure all the information listed on your report is accurate and work to correct any mistakes. The higher your credit score, the more likely you will be to receive a better interest rate for your mortgage, which will translate into more ‘home for your money.’ Many potential buyers believe that they need a 750 FICO® Score or higher to be able to purchase a home. The truth is that according to Ellie Mae’s Origination Report, over 53% of loans were approved with a FICO® score under 750 last month! Here are some tips for improving your credit score:...

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Low Inventory Cause Home Prices to Maintain Fast Growth

Posted by on Nov 17, 2017 in Uncategorized | 0 comments

Low Inventory Causes Home Prices to Maintain Fast Growth The National Association of Realtors (NAR) released their latest Quarterly Metro Home Price Report last week. The report revealed that severely lacking inventory across the country drained sales growth and kept home prices rising at a steady clip in nearly all metro areas. Home prices rose 5.3% over the last quarter across all metros. Lawrence Yun, Chief Economist at NAR, discussed the impact of low inventory on buyers in the report: “Unfortunately, the pace of new listings were unable to replace what was quickly sold. Home shoppers had little to choose from, and many had to outbid others in order to close on a home. The end result was a slowdown in sales from earlier in the year, steadfast price growth and weakening affordability conditions.” What this means to sellers Rising prices are a homeowner’s best...

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Why Sell Now Instead of Later? The Buyers Are Out Now

Posted by on Nov 15, 2017 in Uncategorized | 0 comments

Why Sell Now Instead of Later? The Buyers are Out Now Each year, most homeowners wait until the spring to sell their houses because they believe that they can get a better deal during the normal spring buyer’s market. However, recently released data suggests that a seller’s best deal may be available right now. The concept of ‘supply & demand’ reveals that the best price for an item will be realized when the supply of that item is low and the demand for that item is high. Let’s see how this applies to the current residential real estate market. SUPPLY It is no secret that the supply of homes for sale has been far below the number needed for over a year. A normal market requires six months of housing inventory to meet the demand. The latest report from the National Association of...

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The Difference An Hour Makes in Real Estate

Posted by on Nov 13, 2017 in Uncategorized | 0 comments

The Difference an Hour Makes in Real Estate [INFOGRAPHIC] Every Hour in the US Housing Market:  624 Homes Sell 347 Homes Regain Positive Equity Median Home Values Go Up...

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Multigenerational Households May Be the Answer to Price Increases

Posted by on Nov 10, 2017 in Uncategorized | 0 comments

Multigenerational Households May Be the Answer to Price Increases Multigenerational homes are coming back in a big way! In the 1950s, about 21%, or 32.2 million Americans shared a roof with their grown children or parents. According to an article by Realtor.com, “Nearly 1 in 5 Americans is now living in a multigenerational household – a household with two or more adult generations, or grandparents living with grandchildren – a level that hasn’t been seen in the U.S. since 1950.” Another report that proves this point is the National Association of Realtors’ (NAR) 2017 Profile of Home Buyers and Sellers which states that 13% of home buyers purchased multigenerational homes last year. The top 3 reasons for purchasing this type of home were: To take care of aging parents (22%, up from 19% last year) Cost savings (17%) Children over the age of 18 moving back home...

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