Tag: what is the down payment to buy a home in michigan

Real Estate Is Soaring, But Not Like 2008

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Real Estate Is Soaring, But Not Like 2008 Unlike last year, the residential real estate market kicked off 2020 with a bang! In their latest Monthly Mortgage Monitor, Black Knight proclaimed: “The housing market is heating entering 2020 and recent rate declines could continue that trend, a sharp contrast to the strong cooling that was seen at this … Continued

How Interest Rates Can Impact Your Monthly Housing Payments

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How Interest Rates Can Impact Your Monthly Housing Payments Spring is right around the corner, so flowers are starting to bloom, and many potential homebuyers are getting ready to step into the market. If you’re thinking of buying in Metro Detroit Michigan this season, here’s how mortgage interest rates are working in your favor. Freddie … Continued

How Your Tax Refund Can Move You Toward Homeownership This Year

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How Your Tax Refund Can Move You Toward Homeownership This Year If you’re looking to buy a home in 2020, have you thought about putting your tax refund toward a down payment? Homeownership may be one step closer than you think if you spend your dollars wisely this year. Based on data released by the Internal … Continued

10 Steps to Buying a Home

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10 Steps to Buying a Home Some Highlights: If you’re thinking of buying a home in Metro Detroit Michigan and you’re not sure where to start, you’re not alone. Here’s a guide with 10 simple steps to follow in the homebuying process. Be sure to work with a trusted real estate professional to find out … Continued

How Much “Housing Wealth” Can You Build in a Decade?

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How Much “Housing Wealth” Can You Build in a Decade? Earlier this month, the National Association of Realtors (NAR) released a special study titled Single-Family Home Price Gains by Years of Tenure. The study estimates median home price appreciation over the last 30 years based on the length of homeownership. Below are three graphs depicting the most important … Continued

Entry-Level Homeowners Are in the Driver’s Seat

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Entry-Level Homeowners Are in the Driver’s Seat One thing helping Metro Detroit Michigan homeowners right now is price appreciation, especially in the entry-level market. In the latest Home Price Insights report, CoreLogic reveals how home prices increased by 4% year-over-year and projects prices will rise 5.2% by December 2020. Why is this good news for the homeowners?  When prices … Continued

The #1 Misconception in the Homebuying Process

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The #1 Misconception in the Homebuying Process After over a year of moderating home prices, it appears home value appreciation is about to reaccelerate. Skylar Olsen, Director of Economic Research at Zillow, explained in a recent article:  “A year ago, a combination of a government shutdown, stock market slump and mortgage rate spike caused a long-anticipated inventory rise. That … Continued

The Overlooked Financial Advantages of Homeownership

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The Overlooked Financial Advantages of Homeownership There are many clear financial benefits to owning a home in Metro Detroit Michigan: increasing equity, building net worth, growing appreciation, and more. If you’re a renter, it’s never too early to make a plan for how homeownership can propel you toward a stronger future. Here’s a dive into … Continued

Homeownership Rate on the Rise to a 6-Year High

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Homeownership Rate on the Rise to a 6-Year High Regardless of the lack of inventory on the market, the U.S. homeownership rate has climbed to a 6-year high. The United States Census Bureau reported that it increased to 65.1% in the fourth quarter of 2019, representing the highest level in the past six years. See the graph below:This increase … Continued
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