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47 Percent of New Buyers Surprised by How Affordable Homes Are Today
posted by: George Sykes, Managing Broker, Worth Clark Realty on Saturday February 13, 2021
Headlines matter. Right now, it’s hard to read about real estate without seeing a headline that suggests homes have become unaffordable for most Americans. In reality, there’s hard evidence that shows how owning a home is more affordable than renting in most parts of the country, as record-low interest rates are keeping monthly mortgage payments about 23% lower than the typical payment of 20 years ago. Despite the facts, misleading headlines persist, and they impact how hopeful homebuyers perceive the market.
In a recent survey by realtor.com, home shoppers indicated they were surprised by what they could actually afford when buying their first home. In fact, 47% discovered their budget was larger than they expected. George Ratiu, Senior Economist at realtor.com, explains:
47 Percent of New Buyers Surprised by How Affordable Homes Are Today
posted by: George Sykes, Managing Broker, Worth Clark Realty on Saturday February 13, 2021
Headlines matter. Right now, it’s hard to read about real estate without seeing a headline that suggests homes have become unaffordable for most Americans. In reality, there’s hard evidence that shows how owning a home is more affordable than renting in most parts of the country, as record-low interest rates are keeping monthly mortgage payments about 23% lower than the typical payment of 20 years ago. Despite the facts, misleading headlines persist, and they impact how hopeful homebuyers perceive the market.
In a recent survey by realtor.com, home shoppers indicated they were surprised by what they could actually afford when buying their first home. In fact, 47% discovered their budget was larger than they expected. George Ratiu, Senior Economist at realtor.com, explains:
Home for Sale: 116 Cedar Crest Court, Weldon Spring, MO 63304
listed on: February 18, 2021
priced at: $265,000
MLS# 21004372 Status: Closed
See Full Details and 39 pictures ...
z
Brokered by: Keller Williams Realty WestAcres
Home for Sale: 116 Cedar Crest Court, Weldon Spring, MO 63304
listed on: February 18, 2021 priced at: $265,000 MLS# 21004372 Status: Closed
See Full Details and 39 pictures ...
Brokered by: Keller Williams Realty WestAcres
Home for Sale: 615 Roundstone Drive, Weldon Spring, MO 63304
listed on: February 10, 2021
priced at: $600,000
MLS# 21008927 Status: Closed
See Full Details and 1 pictures ...
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Brokered by: Berkshire Hathaway AllianceAcres
Home for Sale: 615 Roundstone Drive, Weldon Spring, MO 63304
listed on: February 10, 2021 priced at: $600,000 MLS# 21008927 Status: Closed
See Full Details and 1 pictures ...
Brokered by: Berkshire Hathaway AllianceAcres
What Happens When Homeowners Leave Their Forbearance Plans?
posted by: George Sykes, Managing Broker, Worth Clark Realty on Friday January 29, 2021
According to the latest report from Black Knight, Inc., a well-respected provider of data and analytics for mortgage companies, 6.48 million households have entered a forbearance plan as a result of financial concerns brought on by the COVID-19 pandemic. Here’s where these homeowners stand right now:
2,543,000 (39%) are current on their payments and have left the program
625,000 (9%) have paid off their mortgages
434,000 (7%) have negotiated a repayment plan and have left the program
2,254,000 (35%) have extended their original forbearance plan
512,000 (8%) are still in their original forbearance plan
116,000 (2%) have left the program and are still behind on payments
What Happens When Homeowners Leave Their Forbearance Plans?
posted by: George Sykes, Managing Broker, Worth Clark Realty on Friday January 29, 2021
According to the latest report from Black Knight, Inc., a well-respected provider of data and analytics for mortgage companies, 6.48 million households have entered a forbearance plan as a result of financial concerns brought on by the COVID-19 pandemic. Here’s where these homeowners stand right now:
2,543,000 (39%) are current on their payments and have left the program
625,000 (9%) have paid off their mortgages
434,000 (7%) have negotiated a repayment plan and have left the program
2,254,000 (35%) have extended their original forbearance plan
512,000 (8%) are still in their original forbearance plan
116,000 (2%) have left the program and are still behind on payments
Smart Buyers and Smart Sellers: Class #3 "The Contract"
posted by: George Sykes, Managing Broker, Worth Clark Realty on Friday January 1, 2021
George Sykes, Real Estate Broker with Worth Clark Realty details what every real estate buyer and seller should know about the "Contract To Purchase Real Estate". Buyers and Sellers owe it to themselves to watch this video before they sign their next real estate contract. Understand what you are signing. George Sykes is a licensed Real Estate Broker in Southern Illinois and represents clients in edwardsville, glen carbon, collinsville, granite city, maryville, troy, ofallon, swansea, shiloh and belleville.
Read Full Article ...Smart Buyers and Smart Sellers: Class #3 "The Contract"
posted by: George Sykes, Managing Broker, Worth Clark Realty on Friday January 1, 2021
George Sykes, Real Estate Broker with Worth Clark Realty details what every real estate buyer and seller should know about the "Contract To Purchase Real Estate". Buyers and Sellers owe it to themselves to watch this video before they sign their next real estate contract. Understand what you are signing. George Sykes is a licensed Real Estate Broker in Southern Illinois and represents clients in edwardsville, glen carbon, collinsville, granite city, maryville, troy, ofallon, swansea, shiloh and belleville.
Read Full Article ...Smart Buyers and Smart Sellers: Class #2
posted by: George Sykes, Managing Broker, Worth Clark Realty on Friday December 18, 2020
Class #2: The Listing Agreement
In Smart Buyer and Smart Seller Class #2, George explains what exactly goes into a Listing agreement. This document details key elements of a real estate sale like Price, Commissions, Timing, what stays with the house and Disclosures. If you are selling a property in the Southern Illinois area (edwardsville, glen carbon, collinsville, granite city, maryville, troy, ofallon, swansea, shiloh, belleville) this course is a must see before you list.
Smart Buyers and Smart Sellers: Class #2
posted by: George Sykes, Managing Broker, Worth Clark Realty on Friday December 18, 2020
Class #2: The Listing Agreement
In Smart Buyer and Smart Seller Class #2, George explains what exactly goes into a Listing agreement. This document details key elements of a real estate sale like Price, Commissions, Timing, what stays with the house and Disclosures. If you are selling a property in the Southern Illinois area (edwardsville, glen carbon, collinsville, granite city, maryville, troy, ofallon, swansea, shiloh, belleville) this course is a must see before you list.
Smart Buyers and Smart Sellers: Class #1
posted by: George Sykes, Managing Broker, Worth Clark Realty on Monday December 14, 2020
Real Estate Master Class: Smart Buyers and Smart Sellers
Class #1: Must See Class for Anyone Buying and Selling a Home
Join George as he teaches homeowners, buyers and sellers what they should know before buying or selling a property. This Free Class explains the timeline for both the buyer and the seller and creates a foundation for the "Smart Buyer Smart Seller Real Estate Master Class" series.
Smart Buyers and Smart Sellers: Class #1
posted by: George Sykes, Managing Broker, Worth Clark Realty on Monday December 14, 2020
Real Estate Master Class: Smart Buyers and Smart Sellers
Class #1: Must See Class for Anyone Buying and Selling a Home
Join George as he teaches homeowners, buyers and sellers what they should know before buying or selling a property. This Free Class explains the timeline for both the buyer and the seller and creates a foundation for the "Smart Buyer Smart Seller Real Estate Master Class" series.
Homeownership Helps the Local Economy
posted by: George Sykes, Managing Broker, Worth Clark Realty on Saturday November 28, 2020
Each real estate transaction makes an impact on the local economy, which is a major part of why the housing market is a driver in this year’s economic recovery. This winter is a great time to make a move, so DM me if you’re ready to support our community and find your dream home today.
Read Full Article ...Homeownership Helps the Local Economy
posted by: George Sykes, Managing Broker, Worth Clark Realty on Saturday November 28, 2020
Each real estate transaction makes an impact on the local economy, which is a major part of why the housing market is a driver in this year’s economic recovery. This winter is a great time to make a move, so DM me if you’re ready to support our community and find your dream home today.
Read Full Article ...Why Working from Home May Spark Your Next Move
posted by: George Sykes, Managing Broker, Worth Clark Realty on Monday November 16, 2020
If you’ve been working from home this year, chances are you’ve been at it a little longer than you initially expected. Businesses all over the country have figured out how to operate remotely to keep their employees healthy, safe, and productive. For many, it may be carrying into next year, and possibly beyond.
Read Full Article ...Why Working from Home May Spark Your Next Move
posted by: George Sykes, Managing Broker, Worth Clark Realty on Monday November 16, 2020
If you’ve been working from home this year, chances are you’ve been at it a little longer than you initially expected. Businesses all over the country have figured out how to operate remotely to keep their employees healthy, safe, and productive. For many, it may be carrying into next year, and possibly beyond.
Read Full Article ...
