Still renting? Your Monthly rent could fund your dream home.

The leap from renter to owner is closer than you think.  Many renters are discovering that they can qualify to buy a home fo their own.  Now might be the time to turn that monthly rental check into your first home while interest rates are still low.  Imagine saying good bye to annual rent increases and your landlord.  Over time that rent adds up for your landlord – not you.  Check out the table on the photo to see how much you’re spending on rent over the years.

Still renting? Your Monthly rent could fund your dream home.

Still Renting? The leap from renter to owner is closer than you think! With the help of myself and John Coneys of Freedom Mortgage, (NMLS# 183853 ) we might be able to turn that monthly rental check into your first home. #RealEstate #Realtor #HomePurchase #BuyersMarket #FreedomFast #BuyNotRent

Mortgage Rates Continue to Drop

Couples Putting the House Before the Ring

Is the declining number of marriages contributing to fewer first-time home buyers? In the 1980s, the number of married couples in the ranks of first-time buyers peaked at 75%. Flash forward to today, when only 53% of first-time buyers are married couples, according to data from the National Association of REALTORS®.

So who are the other buyers making up the housing market today? The share of unmarried couples purchasing their first home is now matching single females at 17%, the largest share recorded by NAR to date.

Also increasing is the share of “galentines” buying a home together, notes Jessica Lautz, NAR’s vice president of demographics and behavioral insights, at the association’s Economists’ Outlook blog. Galentines refers to platonic friendships, such as roommates. These buyers have made a notable jump, from 2% to 4% of the market in the last year, Lautz notes.

Unmarried couples and roommate buyers may have an advantage over single buyers helping them to increase their numbers: dual incomes. “Dual incomes allow them to navigate the housing market and perhaps allow them to purchase a home that is at a higher price point where they may face less competition in the buying market,” Lautz writes.

Still, 17% of recent first-time buyers are single females, although that share has dropped from a high of 27%. “This drop is likely due to housing affordability,” Lautz notes. “It is harder for a single-income individual to enter the competitive housing market the U.S. is facing today. Notably, while single men have traditionally had smaller shares of home buyers, the share of single men has now crept up to 10% of the first-time buyer market.”

Brighten Up Your Listing Photos

Saving Enough for Retirement?

Most Americans gives themselves a grade of C or lower when it comes to saving for retirement, according to a new study from TD Ameritrade. The number of Americans who give themselves an A is equal to those who give themselves an F at 12%, the study also found.

Real estate pros, many of whom are independent contractors, particularly may carry the burden of finding retirement plans for themselves and not being able to take advantage of employers’ 401(k) offerings.

The Motley Fool, a financial and investing advice resource, offers some advice on how to turn around your retirement savings. For one, it suggests that you start by figuring out how much you need on a monthly or annual basis. Nearly 60% of Americans say they don’t know how much money they’ll need for retirement.

The Motley Fool offers one way to estimate this: “Those close to retirement can make a budget to see what income they’ll need, then subtract projected Social Security benefits to figure out what their savings must provide. If you multiply that amount by 25, you’ll get a good idea of the total you should save.”

Then, access online calculators to see how much to save each month to reach that goal. Access one such online calculator from Investor.gov.

Financial analysts also stress the importance of setting up automated contributions to your retirement account. “If you have a 401(k) at work, talk with HR or the account administrator to set up your desired contribution,” The Motley Fool article suggests. “If you don’t have a 401(k), you can set up automatic contributions to an IRA through your bank or brokerage firm. Once yu have your automatic contribution in place, don’t change it unless you’re increasing it.”

What you Need to Know about Closing Costs

What are closing costs?

Closing costs are the fees associated with your mortgage loan application and real estate transaction.  They can be incurred by either the buyer, seller or both and are paid at closing.

Se the photo  for more info on closing costs.

What you Need to Know about Closing Costs

What are closing costs? Contact John Coneys of Freedom Mortgage, (NMLS# 183853 ) and me, to find out what you need to know about the fees associated with your mortgage loan application and real estate transaction. #RealEstate #Realtor #HomePurchase #ClosingCosts #FreedomMortgage #LowMortgageRates #LetFreedomHelp