The real estate industry changes all the time for various reasons, such as demographic shifts, interest rates and changing economic conditions. Overtime, it shifts from a sellers market to a buyers market and vice versa. However, despite this, there are some real estate tips that remain consistent.
It is never a bad time to buy. Investing in real estate is always a good idea if you plan to hold the home over time. Warren Buffet waits five years before evaluating any investment. Build equity, build wealth. On the o... read more
Real Estate mogul, Sean Conlon, host of The Deed: Chicago on CNBC, was recently asked the question, should you buy? Or should you rent a house?
“I am a true believer that you save every penny and you buy your first house… and that is still the fastest path to wealth in this country.”
Conlon went on to suggest that first-time buyers put down 10-20% “if they can make it work,” and to remain in their home at least 4-5 year... read more
In school, we all learned the theory of supply and demand. When the demand for an item is greater than the supply of that item, the price will surely rise.
The National Association of Realtors (NAR) recently reported that the inventory of homes for sale stands at a 3.8-month supply. This is considerably lower than the 6-month supply necessary for a normal market.
Every month NAR reports on the number of buyers out in the market looking for ho... read more
Saving for a down payment is often the biggest hurdle for a first-time homebuyer. Depending on where you live, median income, median rents, and home prices all vary. So, we set out to find out how long it would take you to save for a down payment in each state.
Using data from the United States Census Bureau and Zillow, we determined how long it would take, nationwide, for a first-time buyer to save enough money for a down payment on their dream home. There is a long-standi... read more
Interest rates are still below historic numbers.
88% of property managers raised their rent in the last 12 months!
The credit score requirements for mortgage approval continue to fall.
... read more