J. Kent Erickson, Broker Associate
Direct / 208.447.7848

20 Tips for Preparing Your House for Sale This Spring [INFOGRAPHIC]

Posted by on Mar 30, 2019 in Home Inspection, Selling a Home, Selling an Investment Property | 0 comments

Some Highlights: When listing your house for sale, your top goal will be to get the home sold for the best price possible! There are many small projects that you can do to ensure this happens! Your real estate agent will have a list of specific suggestions for getting your house ready for market and is a great resource for finding local contractors who can...

Read More

Do 46 Million Millennials Know They Are Mortgage Ready?

Posted by on Mar 28, 2019 in Buying a Home, Mortgage & Finances | 0 comments

Many have written about the millennial generation and whether or not they, as a whole, believe in homeownership as part of attaining the American Dream. Millennials have taken longer to obtain traditional milestones than the generations before them, such as getting married, having kids, and buying a home. However, that does not mean that they do not still aspire to achieve those things. History shows that people tend to buy their first home around age 30. Nearly 5 million millennials will turn 30 in the next two years. This will continue to fuel demand for housing. This is also one of the many reasons why the millennial homeownership rate has continued to grow over the past few years. 48.4% of Americans between the ages of 30-34 now own a home. There are over 46 million millennials (33% of the generation) who...

Read More

What Credit Score Do You Need To Buy A House?

Posted by on Mar 25, 2019 in Mortgage & Finances | 0 comments

There are many misconceptions about the credit score needed to buy a house. Recently, it was reported that 24% of renters believe they need a 780-800 credit score to be considered for a mortgage. The reality is they are misinformed! Only 25% of the Americans have a FICO® Score between 740 and 800. Here is the breakdown according to Experian: 16% Very Poor (300-579) 18% Fair (580-669) 21% Good (670-739) 25% Very Good (740-799) 20% Exceptional (800-850) Randy Hopper, Senior Vice President of Mortgage Lending for Navy Federal Credit Union said, “Just because you have a low credit score doesn’t mean you can’t purchase a home. There are a lot of options out there for consumers with low FICO® scores,” There are many programs available with low or no credit score requirement. The Federal Housing Administration (FHA) now requires a minimum FICO® score of 580if you want to qualify for the...

Read More

What’s Going On with Bidding Wars?

Posted by on Mar 23, 2019 in Real Estate Market | 0 comments

In a strong seller’s market, like the one we have experienced over the past few years, bidding wars are common and expected. This makes sense! A seller’s market is defined as a market in which the inventory of homes for sale cannot satisfy the number of buyers who want to purchase a home. According to the Cambridge English Dictionary, bidding wars occur when two or more parties repeatedly outbid each other as they compete to purchase something- in this case, a home. In some areas of the country, first-time buyers have been met with fierce competition throughout their experience. Some have been out-bid multiple times before finally winning a bid on a home to call their own. According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), there is currently a 3.7-month supply of homes for sale. With the current number of houses...

Read More

Homeownership is a Cornerstone of the American Dream

Posted by on Mar 21, 2019 in Buying a Home, Home Ownership | 0 comments

“The rumors of my death are greatly exaggerated.” The famous quote attributed to Mark Twain can apply to homeownership in the United States today. During the housing bubble of the last decade, the homeownership rate soared to over sixty-nine percent. After the crash, that percentage continued to fall for the next ten years. That led to speculation that homeownership was no longer seen as a major component of the American Dream. That belief became so widespread that the term “renters’ society” began to be used by some to define American consumers. However, the latest report by the Census Bureau on homeownership shows that over the last two years, the percentage of homeowners has increased in each of the last eight quarters. Going forward… It appears the homeownership rate will continue to increase. The 2019 Aspiring Home Buyers Profile recently released by the National Association of Realtors revealed that 84% of non-owners...

Read More