Posts in category 'Buying A Home'
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12
Buying is Now 37.7% Cheaper than Renting in the U.S.
The results of the latest Rent vs. Buy Report show that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States. The updated numbers actually show that the range is an average of 17.4% less expensive in Honolulu (HI), all the way up to 53.2% less expensive in Miami & West Palm Beach (FL), and 37.7% nationwide!
Other interesting findings in the report include:
- Interest rates have remained low, and even though home prices have appreciated around the country, they haven't greatly outpaced rental appreciation.
- Home prices would have to appreciate by a range of over 23% in Honolulu (HI), up to over 45% in Ventura County (CA), to reach the tipping point of renting being less expensive than buying.
- Nationally, rates would have to reach 9.1%, a 145% increase over today's average of 3.7%, for renting to be cheaper than buying. Rate...
10
Why Getting Pre-Approved Should Be Your First Step
In many of our local markets including the Quad Cities and Dubuque, the amount of buyers searching for their dream home greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search. But even if you are in a market that is not as competitive, knowing your budget will give you the confidence to know if your dream home is within your reach. Freddie Mac lays out the advantages of pre-approval in the 'My Home' section of their website.
"It's highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets."
One...
28
5 Reasons to Hire a Ruhl&Ruhl Realtor
Whether you are buying or selling a home, it can be quite an adventurous journey; you need an experienced Ruhl&Ruhl Realtor to lead you to your ultimate goal. In this world of instant gratification and internet searches, many sellers think that they can For Sale by Owner or FSBO. The 5 Reasons You NEED a Ruhl&Ruhl Realtor in your corner haven't changed, but rather have been strengthened, due to the projections of higher mortgage interest rates & home prices as the market continues to pick up steam.
1. What do you do with all this paperwork?
Each state has different regulations regarding the contracts required for a successful sale, and these regulations are constantly changing. A true Ruhl&Ruhl Realtor is an expert in their market and can guide you through the stacks of paperwork necessary to make your d...
23
Your Home Buying Wish List
When you begin to think about buying a home, you may start forming lists in your head of everything you WANT or NEED in your home. When it comes down to it, it's important to know what you're looking for when you start your home search. The first step before you even begin looking for homes is to get pre-approved for your mortgage. This allows you to know your budget before you fall in love with a home that is way outside of it. Next, you can begin to list all the features that will be essential in your future home. You should qualify them as follows:
- Feature
- A feature is a physical attribute that you feel is necessary in your next home. For example, you may want a large tub in your mas...
19
Regional Cities Offer Homeowner Discounts
Whether you're a first-time home buyer or looking for a fixer-upper, there are discounts available for your home buying needs in our region! We are here to help you find them. Check out just a couple below! Davenport NOW Davenport NOW, a city established tax incentive program that launched in July of 2009, provides a rebate for 50% of the City's portion of the taxes for ten years to residents or businesses who build or renovate a home within the City Service area. This rebate is based on the increase in assessed value from construction, and improvements must increase the assessed value of the property by more than $5,000. Davenport NOW was passed to improve economic development, as well as provide more...
