Sept. 21, 2018

Sell My House in MD | 4 Reasons to Sell This Fall

Sell My House in MD | 4 Reasons to Sell This Fall

 

Most real estate brokers and agents don't really have all the tools needed to provide 100% selling services to sellers that need to sell their houses  quick, for cash and at a fair price.   

This is why we have integrated fully with all the data on the MLS and became a real estate source to thousands of investors in the MD, DC & VA region.   

In order for most consumers to take advantage of the competition between these investors, we've created the perfect system. If you are in the market to sell you home and you are in need for a fair offer  right away... you've come to the right place.   

We can provide customised innovation towards all  your real estate needs if you are a home seller.  

Today, I would like to talk to you about 4 Reasons to Sell This Fall

 

Some Highlights:

 * Housing inventory is still under the 6-month supply that is needed for a normal housing market.

 * Buyers are often competing with one another for the listings that are available.

 * Perhaps the time has come for you and your family to move on and start living the life you desire.

 

Source.. KCM Fernando Herboso Blog

 

To show my commitment to my clients, I will utilize the latest technology, know-how and information allowing me to bring you the best and highest offer for your house. 

To connect with me directly, 

Please call Fernando at 301-246-0001

Or via email:  Fernando@ReallyNiceHomes.com 

If you are thinking of selling your home in a more traditional way... Let Fernando take over the marketing of your property with our unique 99 STEPS system 

www.99SOLD.com - Call or text 240-426-5754 for more information

 

 

Sept. 20, 2018

Crown Gaithersburg MD | Is the Real Estate Market Finally Getting Back to Normal?

Crown Gaithersburg MD | Is the Real Estate Market Finally Getting Back to Normal?

 

As Gaithersburg has developed over the years, many neighborhoods are now blended with one and another without any distinction or personalities. 

Not in CROW, the newest and most vibrant community in Gaithersburg MD   

Located next to Rio, this new and unique neighborhood is separate in four groups   

 

* Downtown Crown   

* Crown West   

* Crown Central    

* Crown East    

 

If you are looking for city-living style with a flair of urban village, The Crown community has everything to offer and more. 

There is even a direct Metro Shuttle between the community and Shady Grove Metro Station to connect you directly with Washington DC and its surroundings.   

Today, I would like to talk about Is the Real Estate Market Finally Getting Back to Normal?

 

The housing market has been anything but normal for the last eleven years. In a normal real estate market, home prices appreciate 3.7% annually. Below, however, are the price swings since 2007 according to the latest Home Price Expectation Survey:

After the bubble burst in June 2007, values depreciated 6.1% annually until February 2012. From March 2012 to today, the market has been recovering with values appreciating 6.2% annually.

These wild swings in values were caused by abnormal ratios between the available supply of inventory and buyer demand in the market. In a normal market, there would be a 6-month supply of housing inventory.

When the market hit its peak in 2007, homeowners and builders were trying to take advantage of a market that was fueled by an “irrational exuberance.”

Inventory levels grew to 7+ months. With that many homes available for sale, there weren’t enough buyers to satisfy the number of homeowners/builders trying to sell, so prices began to fall.

Then, foreclosures came to market. We eventually hit 11 months inventory which caused prices to crash until early 2012. By that time, inventory levels had fallen to 6.2 months and the market began its recovery.

Over the last five years, inventory levels have remained well below the 6-month supply needed for prices to continue to level off. As a result, home prices have increased over that time at percentages well above the appreciation levels seen in a more normal market. 

 

That was the past. What about the future?

We currently have about 4.5-months inventory. This means prices should continue to appreciate at above-normal levels which most experts believe will happen for the next year. However, two things have just occurred that are pointing to the fact that we may be returning to a more normal market.

 

1. Listing Supply is Increasing

Both existing and new construction inventory is on the rise. The latest Existing Home Sales Report from the National Association of Realtors revealed that inventory has increased over the last two months after thirty-seven consecutive months of declining inventory. At the same time, building permits are also increasing which means more new construction is about to come to market. 

 

2. Buyer Demand is Softening

Ivy Zelman, who is widely respected as an industry expert, reported in her latest ‘Z’ Report:

 “While we continue to expect a resumption of growth in resale transactions on the back of easing inventory in 2019 and 2020, our real-time view into the market through our Real Estate Broker Survey does suggest that buyers have grown more discerning of late and a level of “pause” has taken hold in many large housing markets.

Indicative of this, our broker contacts rated buyer demand at 69 on a 0- 100 scale, still above average but down from 74 last year and representing the largest year-over-year decline in the two-year history of our survey.”

With supply increasing and demand waning, we may soon be back to a more normal real estate market. We will no longer be in a buyers’ market (like 2007-February 2012) or a sellers’ market (like March 2012- Today).

Prices won’t appreciate at the levels we’ve seen recently, nor will they depreciate. It will be a balanced market where prices remain steady, where buyers will be better able to afford a home, and where sellers will more easily be able to move-up or move-down to a home that better suits their current lifestyles.

 

Bottom Line

Returning to a normal market is a good thing. However, after the zaniness of the last eleven years, it might feel strange. If you are going 85 miles per hour on a road with a 60 MPH speed limit and you see a police car ahead, you’re going to slow down quickly. But, after going 85 MPH, 60 MPH will feel like you’re crawling. It is the normal speed limit, yet, it will feel strange.

That’s what is about to happen in real estate. The housing market is not falling apart. We are just returning to a more normal market which, in the long run, will be much healthier for you whether you are a buyer or a seller.

 

Source.. KCM Fernando Herboso Blog

 

If you have any questions about the Crown Plaza, Gaithersburg MD, the schools, amenities or the surrounding community, don't hesitate to give us a call at 301-246-0001 We will be happy to help you. We specialize in Gaithersburg MD and our agents also live here.  

To reach us, please call 301-246-0001

 

 

Posted in GAITHERSBURG
Sept. 19, 2018

Cabin Branch Clarksburg MD | 25% of Homes with a Mortgage are Now Equity Rich!

Cabin Branch Clarksburg MD | 25% of Homes with a Mortgage are Now Equity Rich!

 

If you are looking to buy a home in Cabin Branch Clarksburg. As a real estate agent, I want to be prepared to ensure that you are given the best buying experience with knowledge and expertise to guide you along the way. One of the methods I use is to research the current inventory almost on a daily basis, I want to know where are the best deals for my clients when it comes to purchasing a brand new home in the Cabin Branch area.   

Today, I would like to talk to you about 25% of Homes with a Mortgage are Now Equity Rich!

 

Rising home prices have been in the news a lot lately and much of the focus has been on whether home prices are accelerating too quickly, as well as how sustainable the growth in prices really is. One of the often-overlooked benefits of rising prices, however, is the impact that they have on a homeowner’s equity position.

Home equity is defined as the difference between the home’s fair market value and the outstanding balance of all liens (loans) on the property. While homeowners pay down their mortgages, the amount of equity they have in their homes climbs each time the value of their homes go up!

According to the latest Equity Report from ATTOM Data Solutions, “13.9 million U.S. properties in Q2 2018 were equity rich — where the combined estimated balance of loans secured by the property was 50 percent or less of the property’s estimated market value — representing 24.9% of all U.S. properties with a mortgage.”

This means that nearly a quarter of Americans who have a mortgage would be able to sell their homes and have a significant down payment toward their next home. Many who sell could also use their new-found equity to pay off high-interest credit cards or help children with tuition costs.

The map below shows the percentage of properties with a mortgage in each state that were equity rich in Q2 2018.

Bottom Line

If you are a homeowner looking to take advantage of your home equity by moving up to your dream home, let’s get together to discuss your options!

 

Source.. KCM Fernando Herboso Blog

 

If you have any questions about Cabin Branch, the schools, the amenities or the surrounding community, don't hesitate to call on us at 301-246-0001 We will be happy to help you. We specialize in Clarksburg and our agents also live here.

To reach us, please call 301-246-0001

Or send us an email to: info@ReallyNiceHomes.com 

Thinking of selling your home? Let Fernando take over the marketing of your property with our unique 99 STEPS system 

www.99SOLD.com - Call or text 240-426-5754 for more information. 

 

 

Posted in Clarksburg
Sept. 18, 2018

Milestone Germantown MD | Home Prices: The Difference 5 Years Makes

Milestone Germantown MD | Home Prices: The Difference 5 Years Makes

 

At a local level in Germantown Maryland, buyer confidence remains strong with some changes that varies on the price level and whit type of houses they are looking for.     

Particularly in and around Milestone 20876 zip code. The addition of new store and business entities in the area makes Milestone one of the most busiest areas in Germantown.      

As you are aware, for most families, choosing a new home is the biggest financial decision they will ever make and for that reason, there are many complicated decisions involved in choosing your new home.      

Today I would like to talk to you about Home Prices: The Difference 5 Years Makes

 

CoreLogic recently released their Home Price Index Report. One of the key indicators used in the report to determine the health of the housing market was home price appreciation. CoreLogic focused on appreciation from July 2013 to July 2018 to show how prices over the last five years have fared.

The graph below was created to show the 5-year change in price from July 2013 to July 2018 by price range.

As you can see in the graph, the highest price appreciation occurred in the lowest price range with 48% growth, while the highest priced homes appreciated by 25%. This has been greatly fueled by the lack of inventory of homes available at the lower price ranges and high demand from first-time buyers looking to enter the market.

 

Where were prices expected to go?

Every quarter, Pulsenomics surveys a nationwide panel of over 100 economists, real estate experts, and investment and market strategists and asks them to project how residential home prices will appreciate over the next five years for their Home Price Expectation Survey (HPES).

According to the Q3 2014 survey results, national homes prices were projected to increase cumulatively by 19.5% by December 2018. The bulls of the group predicted home prices to rise by 27.8%, while the more cautious bears predicted an appreciation of 11.2%.

 

Where are prices headed in the next 5 years?

Data from the most recent HPES shows that home prices are expected to increase by 20.0% over the next 5 years. The bulls of the group predict home prices to rise by 31.2%, while the more cautious bears predict an appreciation of 9.3%.

 

Bottom Line

Every day, thousands of homeowners regain positive equity in their homes. Some homeowners are now experiencing values even greater than those before the Great Recession. If you’re wondering if you have enough equity to sell your house and move on to your dream home, let’s get together to discuss conditions in our neighborhood!

 

Source.. KCM Fernando Herboso Blog

 

To protect your interests and assure that you make the best possible decisions,  

it's important that you have a knowledgeable agent on your side who is an expert in the local real estate market.  

We are dedicated to keeping you on top of our local market. Rest assured that we will provide you with a well-informed,  

and the most updated strategic view for your home purchase in Germantown Maryland  

To reach us, please call 301-246-0001 

or send us an email  info@ReallyNiceHomes.com  

Thinking of selling your home? Let Fernando take over the marketing of your property with our unique 99 STEPS system  

www.99SOLD.com - Call or text 240-426-5754 for more information

 

 

Posted in GERMANTOWN
Sept. 17, 2018

Villages of Urbana Homes For Sale | If You Are Thinking of Selling? You Must Act NOW!

Villages of Urbana Homes For Sale | If You Are Thinking of Selling? You Must Act NOW!

 

If you are looking for a home in the Villages of Urbana. Let us share a secret with you. When someone becomes a professional real estate agent, they make a commitment to their clients from the moment they first connect, whether it is, first-time homebuyer's, who are very excited to purchase their very own home.... or seasoned Investors who are trying to build equity with key purchases and increase their portfolios. What is important for you to know is that your main purpose is to find the right real estate professional that will dedicate time and energy to bring exactly what you are looking for. Take your time and pick the one that has that commitment deep in their hearts

To show this commitment to my clients, We bring the latest technology, know-how and information allowing me to bring the best possible outcome on every real estate transaction we perform.

Today, I would like to talk to you about If You Are Thinking of Selling? You Must Act NOW!

 

If you thought about selling your house this year, now more than ever may be the time to do it! The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned about the concept of supply and demand, so we understand that the best time to sell something is when the supply of that item is low and demand for that item is high. That defines today’s real estate market.

Lawrence Yun, Chief Economist at the National Association of Realtors, recently commented:

“Contract signings inched backward once again last month, as declines in the South and West weighed down on overall activity.”

Yun goes on to say:

“The reason sales are falling off last year’s pace is that multiple years of inadequate supply in markets with strong job growth have finally driven up home prices to a point where an increasing number of prospective buyers are unable to afford it.”

In this type of market, a seller may hold a major negotiating advantage when it comes to price and other aspects of the real estate transaction, including the inspection, appraisal and financing contingencies.

 

Bottom Line

As a potential seller, you are in the driver’s seat right now. It might be time to hit the gas.

 

Source.. KCM Fernando Herboso Blog

 

If you want to find the best house for the money in Villages of Urbana….

This is what we can do for you, 

We will prepare you a list of houses that fit your criteria and take the time to show all these houses to you, with no pressure and no hassle.

So please let us know when you are ready to get started

If you want to get started now, 

Please call us at 301-246-0001

Or text to: 240-426-5754

Email: Info@ReallyNiceHomes.com 

Thinking of selling your home? Let Fernando take over the marketing of your property with our unique 99 STEPS system 

www.99SOLD.com - Call or text 240-426-5754 for more information.

 

 

Posted in Urbana
Sept. 11, 2018

Sell My House in MD | NAR Reports Show It’s A Great Time to Sell!

Sell My House in MD | NAR Reports Show It’s A Great Time to Sell!

 

Most real estate brokers and agents don't really have all the tools needed to provide 100% selling services to sellers that need to sell their houses  quick, for cash and at a fair price.   

This is why we have integrated fully with all the data on the MLS and became a real estate source to thousands of investors in the MD, DC & VA region.   

In order for most consumers to take advantage of the competition between these investors, we've created the perfect system. If you are in the market to sell you home and you are in need for a fair offer  right away... you've come to the right place.   

We can provide customised innovation towards all  your real estate needs if you are a home seller.  

Today, I would like to talk to you about NAR Reports Show It’s A Great Time to Sell!

 

We all realize that the best time to sell anything is when the demand for that item is high and the supply of that item is limited. The last two major reports issued by the National Association of Realtors (NAR) revealed information that suggests that right now continues to be a great time to sell your house.

Let’s look at the data covered in the latest Pending Home Sales Report and Existing Home Sales Report.

 

THE PENDING HOME SALES REPORT

The report announced that pending home sales (homes going into contract) are down 2.3% from last year and have continued to fall on an annual basis for seven straight months.

Lawrence Yun, NAR’s Chief Economist, had this to say:

“The reason sales are falling off last year’s pace is that multiple years of inadequate supply in markets with strong job growth have finally driven up home prices to a point where an increasing number of prospective buyers are unable to afford it.”

Takeaway: Demand for housing is strong and will continue to grow in 2019. Without an influx of new listings for sale, pending home sales will continue to decline. Listing now means you will be able to take advantage of the demand currently in the market.

 

THE EXISTING HOME SALES REPORT

The most important data point revealed in the report was not sales-based, but was instead the inventory of homes for sale (supply). The report explained:

Total housing inventory decreased 0.7% to 5.34 million homes available for sale in July

This represents a 4.3-month supply at the current sales pace

Sales are now 1.5% below a year ago

There were two more interesting comments made by Yun in the report:

“Led by a notable decrease in closings in the Northeast, existing home sales trailed off again last month, sliding to their slowest pace since February 2016 at 5.21 million.”

In real estate, there is a guideline that often applies: When there is less than a 6-month supply of inventory available, we are in a seller’s market and we will see appreciation; between 6-7 months is a neutral market, where prices will increase at the rate of inflation; and more than a 7-month supply means we are in a buyer’s market and should expect depreciation in home values. As Yun notes, we are (and will remain) in a seller’s market and prices will continue to increase unless more listings come to the market.

“Listings continue to go under contract in under a month, which highlights the feedback from Realtors® that buyers are swiftly snatching up moderately-priced properties. Existing supply is still not at a healthy level, and new home construction is not keeping up to meet demand.”

Takeaway: Inventory of homes for sale is still well below the 6-month supply needed for a normal market. Prices will continue to rise if a sizable supply does not enter the market.

 

Bottom Line

If you are going to sell, now may be the time to take advantage of the ready, willing, and able buyers that are still out looking for your house.

 

Source.. KCM Fernando Herboso Blog

 

To show my commitment to my clients, I will utilize the latest technology, know-how and information allowing me to bring you the best and highest offer for your house. 

To connect with me directly, 

Please call Fernando at 301-246-0001

Or via email:  Fernando@ReallyNiceHomes.com 

If you are thinking of selling your home in a more traditional way... Let Fernando take over the marketing of your property with our unique 99 STEPS system 

www.99SOLD.com - Call or text 240-426-5754 for more information

 

 

Sept. 10, 2018

Crown Gaithersburg MD | 4 Reasons Why Fall Is A Great Time to Buy A Home!

Crown Gaithersburg MD | 4 Reasons Why Fall Is A Great Time to Buy A Home!

 

As Gaithersburg has developed over the years, many neighborhoods are now blended with one and another without any distinction or personalities. 

Not in CROW, the newest and most vibrant community in Gaithersburg MD   

Located next to Rio, this new and unique neighborhood is separate in four groups   

 

* Downtown Crown   

* Crown West   

* Crown Central    

* Crown East    

 

If you are looking for city-living style with a flair of urban village, The Crown community has everything to offer and more. 

There is even a direct Metro Shuttle between the community and Shady Grove Metro Station to connect you directly with Washington DC and its surroundings.   

Today, I would like to talk about 4 Reasons Why Fall Is A Great Time to Buy A Home!

 

Here are four great reasons to consider buying a home today instead of waiting.

 

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Insights report reveals that home prices have appreciated by 6.2% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.1% over the next year.

Home values will continue to appreciate for years. Waiting no longer makes sense.

 

2. Mortgage Interest Rates Are Projected to Increase

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have already increased by half of a percentage point, to around 4.5% in 2018. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison, projecting that rates will increase by half a percentage point to around 5.1% by this time next year.

An increase in rates will impact your monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

 

3. Either Way, You Are Paying a Mortgage

There are some renters who have not yet purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to build equity in your home which you can then tap into later in life. As a renter, you guarantee your landlord is the person building that equity.

Are you ready to put your housing cost to work for you?

 

4. It’s Time to Move on with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer, or you just want to have control over renovations, maybe now is the time to buy.

 

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

 

Source.. KCM Fernando Herboso Blog

 

If you have any questions about the Crown Plaza, Gaithersburg MD, the schools, amenities or the surrounding community, don't hesitate to give us a call at 301-246-0001 We will be happy to help you. We specialize in Gaithersburg MD and our agents also live here.  

To reach us, please call 301-246-0001

 

 

Posted in GAITHERSBURG
Sept. 7, 2018

Villages of Urbana Homes For Sale | Home Prices Up 6.49% Across the Country!

Villages of Urbana Homes For Sale | Home Prices Up 6.49% Across the Country! 

 

If you are looking for a home in the Villages of Urbana. Let us share a secret with you. When someone becomes a professional real estate agent, they make a commitment to their clients from the moment they first connect, whether it is, first-time homebuyer's, who are very excited to purchase their very own home.... or seasoned Investors who are trying to build equity with key purchases and increase their portfolios. What is important for you to know is that your main purpose is to find the right real estate professional that will dedicate time and energy to bring exactly what you are looking for. Take your time and pick the one that has that commitment deep in their hearts

To show this commitment to my clients, We bring the latest technology, know-how and information allowing me to bring the best possible outcome on every real estate transaction we perform.

Today, I would like to talk to you about Home Prices Up 6.49% Across the Country!

 

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 more!

 

Source.. KCM Fernando Herboso Blog

 

If you want to find the best house for the money in Villages of Urbana….

This is what we can do for you, 

We will prepare you a list of houses that fit your criteria and take the time to show all these houses to you, with no pressure and no hassle.

So please let us know when you are ready to get started

If you want to get started now, 

Please call us at 301-246-0001

Or text to: 240-426-5754

Email: Info@ReallyNiceHomes.com 

Thinking of selling your home? Let Fernando take over the marketing of your property with our unique 99 STEPS system 

www.99SOLD.com - Call or text 240-426-5754 for more information.

 

 

Posted in Urbana
Sept. 6, 2018

Sell My House in MD | What Does the Future Hold for Home Prices?

Sell My House in MD | What Does the Future Hold for Home Prices?

 

Most real estate brokers and agents don't really have all the tools needed to provide 100% selling services to sellers that need to sell their houses  quick, for cash and at a fair price.   

This is why we have integrated fully with all the data on the MLS and became a real estate source to thousands of investors in the MD, DC & VA region.   

In order for most consumers to take advantage of the competition between these investors, we've created the perfect system. If you are in the market to sell you home and you are in need for a fair offer  right away... you've come to the right place.   

We can provide customised innovation towards all  your real estate needs if you are a home seller.  

Today, I would like to talk to you about What Does the Future Hold for Home Prices?

 

Home prices are at the top of everyone’s minds. Can they maintain their current pace of appreciation? Will rising mortgage rates negatively impact home values? Will the next economic slowdown cause prices to crash?

Let’s try to answer these questions based on what has happened in the past as well as what we know about the current real estate market.

 

The Impact of Rising Interest Rates

We explained earlier this year that rising mortgage rates have not negatively impacted home prices in the past and probably wouldn’t this time either. Freddie Mac’s comments were very direct:

“In the current housing market, the driving force behind the increase in prices is a low supply of both new and existing homes combined with historically low rates. As mortgage rates increase, the demand for home purchases will likely remain strong relative to the constrained supply and continue to put upward pressure on home prices.”

They were correct. So far this year, home values have continued to appreciate above normal historic percentages and it appears the gradual increase in rates has had little impact on prices.

 

The Impact of an Economic Slowdown

Many people fear that when the economy turns, we may see the same depreciation in home values as we did a decade ago.

However, we recently reported that the same group of economists, real estate experts, and investment & market strategists who predicted the next recession will occur in the next 18-24 months have also projected that house prices will continue to appreciate for the next five years, albeit at smaller percentages.

 

It Comes Down to Supply and Demand

As always, home prices will be determined by the demand to purchase compared to the available inventory of homes for sale. For the last six years, demand has far exceeded the available supply which has resulted in the average annual appreciation to top 6% since 2012. That is far greater than the historic norm of 3.6% annual appreciation that we saw prior to the housing boom.

There are currently small signs that housing inventory is slowly beginning to increase. Months supply of houses for sale matched last year’s numbers for the last two months after 37 consecutive months of decreasing inventory. New construction data has also shown positive signs that inventory will be increasing.

As inventory begins to meet demand, we will see appreciation return to more normal levels. We are already seeing projections coming in lower than the 6.2% annual average we have seen more recently.

CoreLogic is predicting that home values will appreciate by 5.1% over the next twelve months and the Home Price Expectation Survey calls for values to increase by 4.2% in 2019.

 

Bottom Line

Mark Fleming, Chief Economist at First American, explained it best:

“We’re seeing the first indications that price appreciation may be slowing, but the underlying fundamental housing market conditions support a natural moderation of house prices rather than a sharp decline.”

 

Source.. KCM Fernando Herboso Blog

 

To show my commitment to my clients, I will utilize the latest technology, know-how and information allowing me to bring you the best and highest offer for your house. 

To connect with me directly, 

Please call Fernando at 301-246-0001

Or via email:  Fernando@ReallyNiceHomes.com 

If you are thinking of selling your home in a more traditional way... Let Fernando take over the marketing of your property with our unique 99 STEPS system 

www.99SOLD.com - Call or text 240-426-5754 for more information

 

 

Sept. 5, 2018

Cabin Branch Clarksburg MD | Homeownership is a Dominant Gene

Cabin Branch Clarksburg MD | Homeownership is a Dominant Gene

 

If you are looking to buy a home in Cabin Branch Clarksburg. As a real estate agent, I want to be prepared to ensure that you are given the best buying experience with knowledge and expertise to guide you along the way. One of the methods I use is to research the current inventory almost on a daily basis, I want to know where are the best deals for my clients when it comes to purchasing a brand new home in the Cabin Branch area.   

 

Today, I would like to talk to you about Homeownership is a Dominant Gene

 

There are many things that factor into the decision to buy a home. New research from the Urban Institute suggests that one of those things may be inherited from your parents.

 

Children are More Likely to Own a Home if Their Parents Did

According to an analysis of millennial homeowners, the homeownership rate of those whose parents rent their homes is 14.4%, while the rate amongst millennials whose parents are homeowners is 31.7%!

“A young adult’s odds of homeownership are highly correlated with their parent’s homeownership.

Without controlling for such factors as age, income, education, marital status, and race or ethnicity, there is a 17 percentage-point gap between the homeownership rate for young adults whose parents are renters and young adults whose parents are homeowners.”

The study also revealed that as a parent’s net worth increases, so does the likelihood that their child will own a home. These two findings are not surprising as we know from the Survey of Consumer Finances that a homeowner’s net worth is 44x greater than that of a renter.

So, a parent who is a homeowner will have more wealth which will, in turn, increase the chances that their children will own their own homes in the future.

Below is a breakdown of the relationship between a parent’s wealth and a millennial’s likelihood to own a home.

The Good News: The high homeownership rate amongst baby boomers (likely the parents of many millennials) is a great sign that millennials will want to own homes. We are already seeing this in the high-demand environment that we are currently experiencing in the starter and trade-up markets.

 

Bottom Line

Even though millennials took longer than many of the generations before them to start home searches of their own, the data shows that they will not be waiting much longer!

 

Source.. KCM Fernando Herboso Blog

 

If you have any questions about Cabin Branch, the schools, the amenities or the surrounding community, don't hesitate to call on us at 301-246-0001 We will be happy to help you. We specialize in Clarksburg and our agents also live here.

To reach us, please call 301-246-0001

Or send us an email to: info@ReallyNiceHomes.com 

Thinking of selling your home? Let Fernando take over the marketing of your property with our unique 99 STEPS system 

www.99SOLD.com - Call or text 240-426-5754 for more information. 

 

 

Posted in Clarksburg