J. Kent Erickson, Broker Associate
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Buying a Home Early Can Significantly Increase Future Wealth

Posted by on Jan 29, 2020 in Buying a Home | 0 comments

According to an Urban Institute study, homeowners who purchase a house before age 35 are better prepared for retirement at age 60. The good news is, our younger generations are strong believers in homeownership. According to a Freddie Mac survey, “The dream of homeownership is alive and well within “Generation Z,” the demographic cohort following Millennials. Our survey…finds that Gen Z views homeownership as an important goal. They estimate that they will attain this goal by the time they turn 30 years old, three years younger than the current median homebuying age (33).” If these aspiring homeowners purchase at an early age, the Urban Institute study shows the impact it can have. Based on this data, those who purchased their first homes when they were younger than 25 had an average of $10,000 left on their mortgage at age 60. The...

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Make the Dream of Homeownership a Reality in 2020

Posted by on Jan 22, 2020 in Home Ownership | 0 comments

In 1963, Martin Luther King, Jr. led and inspired a powerful movement with his famous “I Have a Dream” speech. Through his passion and determination, he sparked interest, ambition, and courage in his audience. Today, reflecting on his message encourages many of us to think about our own dreams, goals, beliefs, and aspirations. For many Americans, one of those common goals is owning a home: a piece of land, a roof over our heads, and a place where our families can grow and flourish. If you’re dreaming of buying a home this year, the best way to start the process is to connect with a Real Estate professional to understand what goes into buying a home. Once you have that covered, then you can answer the questions below to make the best decision for you and your family. 1....

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The 2020 Real Estate Projections That May Surprise You

Posted by on Jan 2, 2020 in Mortgage & Finances, Real Estate Market | 0 comments

This will be an interesting year for residential real estate. With a presidential election taking place this fall and talk of a possible recession occurring before the end of the year, predicting what will happen in the 2020 U.S. housing market can be challenging. As a result, taking a look at the combined projections from the most trusted entities in the industry when it comes to mortgage rates, home sales, and home prices is incredibly valuable – and they may surprise you. Mortgage Rates Projections from the experts at the National Association of Realtors (NAR), the Mortgage Bankers Association (MBA), Fannie Mae, and Freddie Mac all forecast mortgage rates remaining stable throughout 2020:Since rates have remained under 5% for the last decade, we may not fully realize the opportunity we have right now. Here are the average mortgage interest rates over the last several decades: 1970s: 8.86% 1980s: 12.70% 1990s: 8.12% 2000s: 6.29% Home...

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