J. Kent Erickson, Broker Associate
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NOT Owning Your Home Can Cost You a Lot of Money!

Posted by on Apr 26, 2018 in Uncategorized | 0 comments

NOT Owning Your Home Can Cost You a Lot of Money! Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed. Realtor.com recently reported that: “Buying remains the more attractive option in the long term – that remains the American dream, and it’s true in many markets where renting has become really the shortsighted option… as people get more savings in their pockets, buying becomes the better option.” What proof exists that owning is financially better than renting? 1. In a previous blog we highlighted the top 5 financial benefits of homeownership: Homeownership is a form of forced savings. Homeownership provides tax savings. Homeownership allows you to lock in your monthly housing cost. Buying a home is cheaper...

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The Cost of Renting vs. Buying Today

Posted by on Apr 24, 2018 in Uncategorized | 0 comments

The Cost of Renting vs. Buying Today [INFOGRAPHIC] Some Highlights: Historically, the choice between renting or buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (28.9%) vs. the percentage needed to buy a median-priced home (15.7%), the choice becomes obvious. Every market is different. Before you renew your lease again, find out if you can put your housing costs to work by buying this...

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99% of Experts Agree: Home Prices Will Increase

Posted by on Apr 22, 2018 in Uncategorized | 0 comments

99% of Experts Agree: Home Prices Will Increase Some believe that the combined effects of the new tax code and rising mortgage rates will have an adverse impact on residential real estate prices in 2018. However, the clear majority of recently surveyed housing experts believe that home values will continue to rise this year. What is the Home Price Expectation Survey? Each quarter, Pulsenomics surveys a nationwide panel of economists, real estate experts and investment & market strategists. Those surveyed include experts such as: Daniel Bachman, Senior Manager, U.S. Economics at Deloitte Services, LP Kathy Bostjancic, Head of U.S. Macro Investors Service at Oxford Economics David Downs, Real Estate Finance Professor at VCU Edward Pinto, Resident Fellow at American Enterprise Institute Albert Saiz, Director at MIT Center for Real Estate Where do these experts see home values headed in 2018? Here is a breakdown of where they see home values twelve months from now: 21.6% believe prices will appreciate...

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Be Thankful You Don’t Have to Pay Your Parents’ Interest Rate!

Posted by on Apr 20, 2018 in Uncategorized | 0 comments

Be Thankful You Don’t Have to Pay Your Parents’ Interest Rate! Interest rates hovered around 4% for the majority of 2017, which gave many buyers relief from rising home prices and helped with affordability. In the first quarter of 2018, rates have increased from 3.95% up to 4.45% and experts predict that rates will increase even more by the end of the year. The rate you secure greatly impacts your monthly mortgage payment and the amount you will ultimately pay for your home. Don’t let the prediction that rates will increase stop you from purchasing your dream home this year. Let’s take a look at a historical view of interest rates over the last 45 years.   Bottom Line Be thankful that you can still get a better interest rate than your older brother or sister did ten years...

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5 Reasons Why to Sell This Spring!

Posted by on Apr 18, 2018 in Uncategorized | 0 comments

5 Reasons Why to Sell This Spring! Here are five reasons listing your home for sale this spring makes sense. 1. Demand Is Strong The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase…and are in the market right now! More often than not, multiple buyers are competing with each other to buy a home. Take advantage of the buyer activity currently in the market. 2. There Is Less Competition Now Housing inventory has declined year over year for the last 32 months and is still under the 6-month supply needed for a normal housing market. This means that, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market. This...

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