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Michael Picciuto | Your Home Sold Guaranteed Realty Blog

Thursday, February 27, 2020   /   by Michael Picciuto

How Much “Housing Wealth” Can You Build in a Decade?

How Much “Housing Wealth” Can You Build in a Decade?


 


Earlier this month, the National Association of Realtors (NAR) released a special study titled Single-Family Home Price Gains by Years of Tenure. The study estimates median home price appreciation over the last 30 years based on the length of homeownership.


 


Below are three graphs depicting the most important data revealed in the study.


 


How much have home prices increased?


One of the first measures of the financial benefits of homeownership is the net worth (in the form of equity) an owner can build over time. The study showed the average increase in home values based on how long homeowners stayed in a home.


 


What was the percentage of appreciation?


Another way to look at this is by the percentage increase in value over time, called appreciation:


 


Was this appreciation consistent throughout the country?


Today, when we think ...

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  #yourhomesoldguaranteed, #exprealty, #lasvegashousing

Wednesday, February 26, 2020   /   by Michael Picciuto

Thinking of Selling? Now May Be the Time.

Thinking of Selling? Now May Be the Time.


 


The housing market has started off much stronger this year than it did last year. Lower mortgage interest rates have been a driving factor in that change. The average 30-year rate in 2019, according to Freddie Mac, was 3.94%. Today that rate is closer to 3.5%.


 


The Census Bureau also just reported the highest homeownership rate since 2014 for people under 35. This is evidence that owning their own home is becoming more important to Millennials as they reach the age where marriage and children are part of their lives.


 


According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR), buyer demand across the country is strong. That’s not the case, however, with seller demand, which remains weak throughout most of the nation. Here’s a breakdown by state:


Demand for housing is high, but supply is extremely low. NAR also just reported that the ...

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  #ken couture, #yourhomesoldguaranteed, #exprealty, #lasvegashousing

Tuesday, February 25, 2020   /   by Michael Picciuto

Entry-Level Homeowners Are in the Driver’s Seat

Entry-Level Homeowners Are in the Driver’s Seat


 


One thing helping homeowners right now is price appreciation, especially in the entry-level market. In the latest Home Price Insights report, CoreLogic reveals how home prices increased by 4% year-over-year and projects prices will rise 5.2% by December 2020.


 


Why is this good news for the homeowners?


When prices appreciate, homeowners gain equity. In addition, those planning to sell this year, especially in the entry-level market, can potentially earn a substantial profit.


 


Dr. Frank Nothaft, Chief Economist at CoreLogic, says:


 


“Moderately priced homes are in high demand and short supply, pushing up values…Homes that sold for 25% or more below the local median price experienced a 5.9% price gain in 2019, compared with a 3.7% gain for homes that sold for 25% or more above the median.”


 


As Dr. Nothaft indicates, the lack of inv ...

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  #ken couture, #yourhomesoldguaranteed, #mortgage

Monday, February 24, 2020   /   by Michael Picciuto

Opportunity in the Luxury Market This Year

Opportunity in the Luxury Market This Year
Homes priced in the top 25% of a price range for a particular area of the country are considered “premium homes.” At the start of last year, many of the more expensive homes listed for sale hadn’t seen as much interest, since much of the demand for housing over the past few years has come from first-time buyers looking for starter homes. It looks like buyer activity, however, is starting to show a shift in this segment.
According to the January Luxury Report from the Institute for Luxury Home Marketing (ILHM):

“In a snapshot of 2019, despite pessimism at the start of the year, the last quarter showcased a strengthening, with an upswing in the luxury market for sales in both the single family and condo markets.”
Momentum is growing, and those looking to enter the luxury market are poised for success in 2020 as well. With more inventory available at the upper-end, historically low interest rates, and incr ...

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  #exprealty, #mortgage

Friday, February 21, 2020   /   by Michael Picciuto

Interest Rates Over Time

Interest Rates Over Time


 


With interest rates hovering at near historic lows, now is a great time to look back at where they’ve been, and how much they’ve changed over time.


According to Freddie Mac, mortgage interest rates are currently hovering near a five-decade low.


The impact your interest rate has on your monthly mortgage payment is significant. An increase of just $20 dollars in your monthly payment can add up to $240 per year or $7,200 over the life of your loan. Maybe it’s time to lock in now while rates are still low. ...

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  #exprealty, #ken couture, #lasvegashousing, #yourhomesoldguaranteed, #mortgage

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Ken Couture
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Las Vegas, NV 89147
702-476-0060

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