April 2021 Calendar
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Posts
Why You Should Think About Listing Prices Like an Auction’s Reserve Price
For generations, the homebuying process never really changed. The seller would try to estimate the market value of the home and tack on a little extra to give themselves some negotiating room. That figure would become the listing price of the house. Buyers would then try to determine how much less than the full price they could offer and still get the home. The asking price was generally the ceiling of the negotiation. The actual sales price would almost always be somewhat lower than the list price. It was unthinkable to pay more than what the seller was asking. Today is different. The record-low supply of homes for sale coupled with very strong buyer demand is leading to a rise in bidding wars on many homes. Because of this, homes today often sell for more than the list price. In some cases, they sell for a lot more. According to the Home Buyers and Sellers Generational Trends report just released by the National Association of Realtors (NAR), 45% of buyers paid full pr
What Is the #1 Financial Benefit of Homeownership?
What Is the #1 Financial Benefit of Homeownership? 366 SHARES 0 181 19 166 There are many financial and non-financial benefits of homeownership, and the greatest financial one is wealth creation . Homeownership has always been the first rung on the ladder that leads to forming household wealth. As Freddie Mac explains : “Homeownership has cemented its role as part of the American Dream, providing families with a place that is their own and an avenue for building wealth over time. This ‘wealth’ is built, in large part, through the creation of equity…Building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.” Odeta Kushi, Deputy Chief Economist at First American , also notes : “The wealth-building power of homeownership shows that home is not only where your heart is, but also where your wealth is…For the majority of households that transition into homeownership, the most recent data
