J. Kent Erickson, Broker Associate
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Home Prices Up 5.05% Across the Country [INFOGRAPHIC]

Posted by on Jul 31, 2019 in Uncategorized | 0 comments

Some Highlights: The Federal Housing Finance Agency (FHFA) recently released their latest Quarterly Home Price Index report. In the report, home prices are compared both regionally and by state. Based on the latest numbers, if you plan on relocating to another state, waiting to move may end up costing you...

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3 Expert Insights On Inventory In The Current Market

Posted by on Jul 29, 2019 in Real Estate Market | 0 comments

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. The supply of homes for sale remains tight, keeping existing home sales below potential.” Danielle Hale, Chief Economist of Realtor.com “We’re not seeing...

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The Surprising Profile of the Real Estate Investor

Posted by on Jul 28, 2019 in Real Estate Investments | 0 comments

Over 10% of all residential homes are purchased by investors, and that number continues to rise. Who are these investors? Many have speculated that the large institutional conglomerates such as Blackstone, American Homes 4 Rent, and Colony Starwood dominate investor purchases. However, a special report on investor home buying by CoreLogic, Don’t Call it a Comeback: Housing Investors Have Been Here for Years, shows this is not the case. Ralph McLaughlin, CoreLogic’s Deputy Chief Economist and author of the report, explained his findings at the recent National Association of Real Estate Editorsconference in Austin: “Investor buying activity in the U.S. is at record highs. And our records go back confidently, about 20 years… What’s going on and why? Well, it turns out, it’s not the big institutional guys that are leading the increase in home buying. It’s actually the smaller guys. It’s those that have...

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The Cost of Waiting: Interest Rates Edition [INFOGRAPHIC]

Posted by on Jul 26, 2019 in Mortgage & Finances | 0 comments

Some Highlights: Interest rates are projected to increase steadily heading into 2020. The higher your interest rate, the more money you will end up paying for your home and the higher your monthly payment will be. Rates are still low right now – don’t wait until they hit 5% to start searching for your dream...

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Is Renting Right for Me?

Posted by on Jul 24, 2019 in Buying a Home | 0 comments

If you’re currently renting and have dreams of owning your own home, it may be a good time to think about your next move. With rent costs rising annually and many helpful down payment assistance programs available, homeownership may be closer than you realize. According to the 2018 Bank of America Homebuyer Insights Report, 74% of renters plan on buying within the next 5 years, and 38% are planning to buy within the next 2 years. When those same renters were asked why they disliked renting, 52% said rising rental costs were their top reason, and 42% of renters believe their rent will rise every year. The full results of the survey can be seen below:It’s no wonder rising rental costs came in as the top answer. The median asking rent price has risen steadily over the last 30 years, as you can see...

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