Thankful Thursday:
My business is built on your kind referrals and because of you: it’s a good life.
Thank you for your support and your lifelong partnership on the real estate journey. Let’s connect again, continuing to make your
Thankful Thursday:
My business is built on your kind referrals and because of you: it’s a good life.
Thank you for your support and your lifelong partnership on the real estate journey. Let’s connect again, continuing to make your read more
Below is the 411 on some local events this weekend!
**Kristi Harden Real Estate is not affiliated with these events. I am strictly passing on information to you should you be interested in the areas local activities. Events are subject to time read more
In a recent article, First American shared how millennials are not really any different from previous generations when it comes to the goal of homeownership; it is still a huge part of their American Dream. The piece, however, also reveals,
“Saving read more
The AARE Generous Giving Program donates a portion of real estate sales commissions to the American Motorcycle Heritage Foundation, the 501(c)(3) nonprofit established by the AMA to raise money for the AMA Motorcycle Hall of Fame. Those funds, in turn, read more
Happy Saturday Everyone!
What are you smiling about today?
Have a wonderful weekend!
Happily,
Kristi Harden
Some Highlights:
*Historically, the choice between renting and buying a home has been a tough decision.
*Looking at the percentage of income needed to rent a median-priced home today (27.7%) vs. the percentage needed to buy a median-priced home (17.5%), the choice is clear.
*Every market is different. Before you renew your lease, find out if you can put your housing costs to work by buying a home this year.
Warmly,
Kristi Harden
*If you have any questions, please contact me, Kristi Harden, today at 951.704.6370 or Kristi@kristihardenrealestate.com
*Infographic provided by my trusted and verified source, KCM.com
Some are afraid the real estate market may be looking a lot like it did prior to the housing crash in 2008. One of the factors they’re pointing at is the availability of mortgage money. Recent articles about the availability of low-down payment loans and down payment assistance programs are causing concern that we’re returning to the bad habits of a decade ago. Let’s alleviate the fears about the current mortgage market.
The Mortgage Bankers’ Association releases an index several times a year titled: The Mortgage Credit Availability Index (MCAI). According to their website:
“The MCAI provides the only standardized quantitative index that is solely focused on mortgage credit. The MCAI is…a summary measure which indicates the availability of mortgage credit at a point in time.”
Basically, the index determines how easy it is to get a mortgage. The higher the index, the more available the mortgage credit.
Here is a graph of the MCAI dating back to 2004, when the data first became available:
As we can see, the index stood at about 400 in 2004. Mortgage credit became more available as the housing market heated up, and then the index passed 850 in 2006. When the real estate market crashed, so did the MCAI (to below 100), as mortgage money became almost impossible to secure.
Thankfully, lending standards have eased since. The index, however, is still below 200, which is half of what it was before things got out of control.
Bottom Line
It is easier to get a mortgage today than it was immediately after the market crash, but it is still difficult. The difference in 2006? At that time, it was difficult not to get a mortgage.
Warmly,
Kristi Harden
*If you have any questions, please contact me, Kristi Harden, today at 951.704.6370 or Kristi@kristihardenrealestate.com
*Information provided by my trusted and verified source, KCM.com
Buyers are out in full force this fall, increasing the demand for homebuying in all four regions of the country.
According to the latest ShowingTime Showing Index,
“Home showing activity was up again nationwide with a 4.6 percent rise in traffic, as the traditionally slow fall season began with a marked boost in buyer interest.”
Buyers clearly have the right idea, as mortgage rates have dropped over a full percentage point since the fall of 2018. They’ve hovered in a historically low range since this summer, making the overall cost of homeownership significantly more attractive and affordable.
Here’s the breakdown of how ShowingTime reports current buyer traffic patterns across the country:
The West Region, which until August had experienced 18 consecutive months of flagging home buyer traffic, lead the four regions in year-over-year improvement with an 8.9 percent increase in buyer activity.
The South followed with a 6.4 percent increase, the largest such improvement in the region since April 2018, with the Northeast Region’s 5.6 percent increase the next largest among the four regions.
The Midwest’s more modest 0.8 percent year-over-year growth rounded out the nation’s promising month.”
With ShowingTime reporting “nationwide growth for the second consecutive month, a first since December 2017 – January 2018”, it’s one more reason why selling your house this winter is the way to go. List while buyers are on the market, before competition with other sellers pops up in your neighborhood.
Bottom Line
If you’re thinking of waiting until spring to sell, think again! Let’s get together to discuss listing your house now while buyer traffic is actively surging throughout the country.
Warmly,
Kristi Harden
*If you have any questions, please contact me, Kristi Harden, today at 951.704.6370 or Kristi@kristihardenrealestate.com
*Information provided by my trusted and verified source, KCM.com
In the third quarter of 2019, the U.S. homeownership rate rose again, signaling another strong indicator of the current housing market.
The U.S. Census Bureau announced,
“The homeownership rate of 64.8 percent was not statistically different from the rate in the third quarter 2018 (64.4 percent), but was 0.7 percentage points higher than the rate in the second quarter 2019 (64.1 percent).”
Today there is still a lack of inventory, particularly at the entry and middle-level segments of the market, but that is not stopping buyers from making every effort to pursue homeownership. The many financial and non-financial benefits continue to drive the American Dream and will likely do so for generations to come.
Bottom Line
If you’re thinking of buying a home, let’s get together to make your dream a reality.
Warmly,
Kristi Harden
*If you have any questions, please contact me, Kristi Harden, today at 951.704.6370 or Kristi@kristihardenrealestate.com
*Information provided by my trusted and verified source, KCM.com
Today and everyday, thank you.
Humbly,
Kristi Harden