Monday, January 8, 2018 / by Willie Smith
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.
Zillow recently reported that:
“In reality, buying or renting a home is an intensely personal decision, with emotional and even financial considerations that go beyond whether to invest in this one (admittedly large) asset. Looking strictly at housing market numbers, there is a concrete point at which buying a home makes more financial sense than renting it.”
Owning a home has always been, and will always be, better from a financial standpoint than renting.
Wednesday, December 13, 2017 / by Willie Smith
According to CoreLogic’s latest Home Price Index, national home prices have appreciated by 7.0% from October 2016 to October 2017. This marks the second month in a row with a 7.0% year-over-year increase.
A lack of supply of homes for sale has led to upward pressure on home prices across the country, especially in areas where both existing and new home inventory have not kept up with buyer demand.
Monday, November 20, 2017 / by Willie Smith
In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 5%+ over the next twelve months. One major challenge in such a market is the bank appraisal.
If prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that recently closed) to defend the selling price when performing the appraisal for the bank.
Friday, September 15, 2017 / by Willie Smith
2112 Flagstone Court #C-11, Greenville, NC
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$ Click for current price 3 BEDROOMS | 3 (2 full, 1 half ) BATHROOMS | 1457 SQUARE FEET
AMAZING opportunity for a rare end unit with 3 bedrooms and 2 1/2 bath in Cobblestone! Open concept main living with kitchen and dinning room opening up into spacious living room with fireplace. Master bedroom with a beautiful bay window, attached master bath and large walk-in closet. Sliding glass doors out to large fenced in patio out back. Exterior maintenance is covered by the HOA. Close proximity to Vidant Medical and ECU. Great investment opportunity. Appointment only with 24 hour notice, property is occupied.
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Tuesday, July 11, 2017 / by Willie Smith
Now is the best time to buy homes for sale in Greenville NC, According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.96%, which is still near record lows in comparison to recent history! Rates are up .08% from last month.
You may be wondering what's the big deal in 1% increase in rates, how will this effect my purchasing power for homes for sale in Greenville NC?
Purchasing power, simply put, is the amount of home you can afford to buy for the budget you have available to spend. As rates increase, the price of the house you can afford will decrease if you plan to stay within a certain monthly housing budget.
Lets assume you are buying a home for sale in Greenville NC where the median sales price is $148,500 according to the The Shackelford Report. Your mortgage payment would be $678 @ 3.96%, if your rate goes up just 1% point, your mortgage payment would be $763 @4.96%. That is an $85 differenc ...