Saturday, July 23, 2016

One More Time… You Do Not Need 20% Down To Buy NOW

One More Time… You Do Not Need 20% Down To Buy NOW | Simplifying The MarketOne More Time… You Do Not Need 20% Down To Buy NOW
A survey by Ipsos found that the American public is still somewhat confused about what is actually necessary to qualify for a home mortgage loan in today’s housing market. The study pointed out two major misconceptions that we want to address today. 

1. Down Payment

The survey revealed that consumers overestimate the down payment funds needed to qualify for a home loan. According to the report, 36% think a 20% down payment is always required. In actuality, there are many loans written with a down payment of 3% or less.
Many renters may actually be able to enter the housing market sooner than they ever imagined with new programs that have emerged allowing less cash out of pocket.

2. FICO Scores

The survey also reported that two-thirds of the respondents believe they need a very good credit score to buy a home, with 45 percent thinking a “good credit score” is over 780. In actuality, the average FICO scores of approved conventional and FHA mortgages are much lower.
The average conventional loan closed in March had a credit score of 753, while FHA mortgages closed with a 685 score. The average across all loans closed in March was 722. The graph below shows how the average FICO Score required has come down over the last 12 months and has stayed around 722 for the last six months.
FICO Score Distribution | Simplifying The Market

Bottom Line

If you are a prospective buyer who is ‘ready’ and ‘willing’ to act now, but are not sure if you are ‘able’ to, sit down with a professional who can help you understand your true options.

Contact Heidi Buchberger RE/MAX Realty Center to talk about buying a house!! 

Friday, July 22, 2016

3 Questions Every Buyer Should Ask Themselves

3 Questions Every Buyer Should Ask Themselves | Simplifying The Market3 Questions Every Buyer Should Ask Themselves

If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family will have your best interest at heart, they may not be fully aware of your needs and what is currently happening in the real estate market.

Answering the following 3 questions will help you determine if now is actually a good time for you to buy in today’s market.

1. Why am I buying a home in the first place?
This truly is the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with money.

For example, a recent survey by Braun showed that over 75% of parents say “their child’s education is an important part of the search for a new home.”

This survey supports a study by the Joint Center for Housing Studies at Harvard University which revealed that the four major reasons why people buy a home have nothing to do with money. 

They are:
  • A good place to raise children and for them to get a good education
  • A place where you and your family feel safe
  • More space for you and your family
  • Control of that space


What does owning a home mean to you? What non-financial benefits will you and your family gain from owning a home? The answer to that question should be the biggest reason you decide to purchase or not. 

2. Where are home values headed?
According to the latest Home Price Index from CoreLogic, home values are projected to increase by 5.3% over the next 12 months. 

What does that mean to you?

Simply put, if you are planning on buying a home that costs $250,000 today, that same home will cost you an additional $13,250 if you wait till next year. Your down payment will need to be higher as well to account for the higher home price.

3. Where are mortgage interest rates headed?

A buyer must be concerned about more than just prices. The ‘long term cost’ of a home can be dramatically impacted by even a small increase in mortgage rates. 

The Mortgage Bankers Association (MBA), the National Association of Realtors, Fannie Mae and Freddie Mac have all projected that mortgage interest rates will increase over the next twelve months as you can see in the chart below:

3 Questions Every Buyer Should Ask Themselves | Simplifying The Market

Bottom Line

Only you and your family will know for certain if now is the right time to purchase a home. Answering these questions will help you make that decision.


Thursday, July 21, 2016

Curb Appeal Musts to Try before Putting up the For Sale Sign

Curb appeal is one of the most important factors in selling a home. That first impression as a potential buyer drives by may determine if they ever even take a tour of your brand new kitchen or updated master suite. Before you even put up that for-sale sign, try a few of the following ideas to update your exterior.

Curb Appeal Musts to Try Before Putting up the For Sale Sign 1

Basic Repairs
Repairs and updates don’t have to be expensive. Replace old gutters and down spouts that show rust or peeling paint and replace with new, snap-fit vinyl systems. If you don’t have time or money for a fresh coat of paint on the whole house, consider just freshening up trim and door paint.

Give the Entryway a Face Lift
Although replacing a front door can be hugely expensive, there are a few other ways to dress up the entryway for an inviting first impression. A bit of paint and molding can make a big difference. A couple of coats of paint lend a bright, up-to-date appearance, while the addition of molding can give the impression of a grand entrance, and it’s available in a wide range of designs and prices.

Camouflage Eyesores
Cables, huge electric boxes, air conditioners, piping, and vents can stand out like sore thumbs around the house. You can’t get rid of them, but you can improve your home’s aesthetics by painting these types of items the same color as the house to help them blend in. For larger items, a small lattice fence with or without panels can provide a little cover, and if trash bins can’t be placed in back, surround them with a fence or even small storage shed.

Bring on the Blooms
There are loads of cheap and easy ways to add greenery and color for a quick facelift. Weed out existing gardens, clear debris, and add some new mulch for a spring-fresh appearance. If edges are old or tired-looking, put up some decorative stone or brick edging. Pick up some pretty containers and fill with a riot of cascading blooms and small shrubs, and then create a dynamic setting by using a staggered arrangement. Flower boxes add welcoming dashes of color to the front of the house and are cheap and easy to install. Boxes made from painted wood lend a charming, cottage-like appeal, while copper or iron are more classic looks.

Illuminate the Night
Lend curb appeal even in the dark by installing outdoor lighting. Many potential buyers may drive by later in the day, and the addition of front yard illumination adds a welcoming, magical appeal. Solar spotlights look great, especially shining on trees or boulders and add nothing to your electric bill. Walkway lights or tiny fairy lights on decks are other pretty additions to think about.

Make a Walkway
Create a more inviting path to your home by putting in a walkway or stone or brick. You can also resurface existing walkways and add brick or stone edging. Not only will this cover up worn spots of grass where you usually walk, but it will lend a more gracious appearance to the front yard.

Add Shutters or Accent Trim
Shutters and trim add a fresh, more updated look to the exterior. Made of wood, aluminum, or composite, shutters can make windows appear larger, and have the added bonus of adding light and ventilation.
Curb appeal is important in the sale of your home, but doesn’t have to hard to install. Once you put the For Sale sign up, the rest is a piece of cake.

About the author: Brooke Chaplan is a freelance writer and blogger. She lives and works out of her home in Los Lunas, New Mexico. She loves the outdoors and spends most her time hiking, biking and gardening. See if you can save more money by usingHomecodec to sell your property yourself. For more information contact Brooke via Twitter @BrookeChaplan.



Oconomowoc, WI when you are thinking about selling

your home!! 


Wednesday, July 20, 2016

This is a FACT

This is a FACT!



Call an experienced RE/MAX Realtor, Heidi Buchberger from RE/MAX Realty Center for help with all your real estate needs!
262-443-2672

Tuesday, July 19, 2016

A Homeowner’s Net Worth is 45x Greater Than a Renter’s!

A Homeowner’s Net Worth is 45x Greater Than a Renter’s! | Simplifying The Market

A Homeowner’s Net Worth is 45x Greater Than a Renter’s!

Every three years, the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400).
In a Forbes article, the National Association of Realtors’ (NAR) Chief Economist Lawrence Yun predicts that in 2016 the net worth gap will widen even further to 45 times greater.
The graph below demonstrates the results of the last two Federal Reserve studies and Yun’s prediction:
A Homeowner’s Net Worth is 45x Greater Than a Renter’s! | Simplifying The Market

Put Your Housing Cost to Work for You

Simply put, homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth. Every time you pay your rent, you are contributing to your landlord’s net worth.
The latest National Housing Pulse Survey from NAR reveals that 85% of consumers believe that purchasing a home is a good financial decision. Yun comments:
“Though there will always be discussion about whether to buy or rent, or whether the stock market offers a bigger return than real estate, the reality is that homeowners steadily build wealth. The simplest math shouldn’t be overlooked.”

Bottom Line

If you are interested in finding out if you could put your housing cost to work for you by purchasing a home, let’s get together to discuss your next steps.

Contact Heidi Buchberger RE/MAX Realty Center to buy a home today!!


Small Business For Sale- Be Your Own Boss Today!!


Small Business For Sale!!! 
$179,000
Sullivan, WI 









Small Business For Sale- Profitable- Established


Small Business For Sale!!! 
$179,000
Sullivan, WI