by Brent Knapp | Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Millennials, Move-Up Buyers
A report released by Down Payment Resource shows that 61% of first-time homebuyers purchased their homes with a down payment of 6% or less. The trend continued among all buyers with a mortgage, as 73% made a down payment of less than 20%. An article by Chase points to...
by Brent Knapp | First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers, Rent vs. Buy
In the latest Rent vs. Buy Report from Trulia, they explained 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 show that the range is an average of...
by Brent Knapp | First Time Home Buyers, For Buyers, For Sellers, Infographics, Move-Up Buyers
Some Highlights: Buyer demand continues to outpace the supply of homes for sale! Buyers are often competing with one another for the listings that are available! Housing inventory is still under the 6-month supply that is needed for a normal housing market. Perhaps...
by Brent Knapp | First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers, Rent vs. Buy
Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey data, covering 2013-2016 was released two weeks ago. The study revealed that the 2016 median net worth...
by Brent Knapp | First Time Home Buyers, For Buyers, Millennials, Move-Up Buyers
Millennials are on track to become the most educated generation in history. This means they are also the generation with the most student debt. Depending on the type of degree earned, as well as the prestige of the institution attended, there are some millennials who...
by Brent Knapp | First Time Home Buyers, For Buyers, Move-Up Buyers
In a CNBC article, self-made millionaire David Bach explained that “the single biggest mistake millennials are making” is not purchasing a home because buying real estate is “an escalator to wealth.” Bach went on to explain: “If millennials don’t buy a home, their...
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