LawnStarter, a lawn care provider, put together data from the U.S. Census Bureau to showthe 14 metros with the highest percentage of homes with a mortgage. LawnStarter used Census Bureau data from the largest 100 metro areas in 2015 and compared the number of owner-occupied homes to owner-occupied homes with a mortgage in each metro.
14. Salt Lake City, Utah
Number of owner-occupied homes: 249,644
Number of owner-occupied homes with mortgage: 180,785
Percentage of owner-occupied homes with mortgage: 72.4%
13. Sacramento, California
Number of owner-occupied homes: 474,156
Number of owner-occupied homes with mortgage: 343,477
Percentage of owner-occupied homes with mortgage: 72.4%
12. Portland, Oregon
Number of owner-occupied homes: 550,790
Number of owner-occupied homes with mortgage: 399,066
Percentage of owner-occupied homes with mortgage: 72.4%
11. San Francisco, California
Number of owner-occupied homes: 903,500
Number of owner-occupied homes with mortgage: 656,117
Percentage of owner-occupied homes with mortgage: 72.6%
10. Virginia Beach-Norfolk-Newport News, Virginia
Number of owner-occupied homes: 388,768
Number of owner-occupied homes with mortgage: 283,044
Percentage of owner-occupied homes with mortgage: 72.8%
9. Indianapolis, Indiana
Number of owner-occupied homes: 484,654
Number of owner-occupied homes with mortgage: 352,902
Percentage of owner-occupied homes with mortgage: 72.8%
8. Seattle, Washington
Number of owner-occupied homes: 861,541
Number of owner-occupied homes with mortgage: 632,110
Percentage of owner-occupied homes with mortgage: 73.3%
7. Atlanta, Georgia
Number of owner-occupied homes: 1,248,726
Number of owner-occupied homes with mortgage: 919,180
Percentage of owner-occupied homes with mortgage: 73.6%
6. Provo-Orem, Utah
Number of owner-occupied homes: 106,725
Number of owner-occupied homes with mortgage: 78,739
Percentage of owner-occupied homes with mortgage: 73.7%
5. Colorado Springs, Colorado
Number of owner-occupied homes: 161,617
Number of owner-occupied homes with mortgage: 120,943
Percentage of owner-occupied homes with mortgage: 74.8%
4. Oxnard-Thousand Oaks-Ventura, California
Number of owner-occupied homes: 170,602
Number of owner-occupied homes with mortgage: 127,747
Percentage of owner-occupied homes with mortgage: 74.8%
3. Raleigh, North Carolina
Number of owner-occupied homes: 303,885
Number of owner-occupied homes with mortgage: 229,349
Percentage of owner-occupied homes with mortgage: 75.4%
2. Denver, Colorado
Number of owner-occupied homes: 677,167
Number of owner-occupied homes with mortgage: 515,339
Percentage of owner-occupied homes with mortgage: 76.1%
1. District of Columbia
Number of owner-occupied homes: 1,352,332
Number of owner-occupied homes with mortgage: 1,069,934
Percentage of owner-occupied homes with mortgage: 79.1%
While this is great news for sellers or homeowners, the news isn’t as welcome to potential homebuyers.
While some news reports, like this one here, as well as online real estate listing services, such as Trulia, say now is a good time to buy a home, mortgage-wise, there are several other factors to consider before jumping into the housing market.
In other words, here’s why you should wait to buy a home.
Inventory also remains down as less than 450,000 new listings came on the market in September, while the median home price rose 9% from last year to $250,000, a new high for the month, according to the data from realtor.com.
In August, Lawrence Yun, the National Association of Realtors Chief Economist, said that without new housing construction, the housing recovery could stall.
Housing inventory declined annually for 15 consecutive months, and properties closed 11 days quicker than August last year, according to the Pending Home sales report by NAR.
These constraints keep home buyers out of the market, despite mortgage rates being at historical lows. Last week, the 30-year fixed rate mortgage decreased again to a 10-week low, according to Freddie Mac’s weekly survey.
This trend looks like it will continue not just in the fall, but even into 2017.
The trials that plagued the California housing market in 2016 aren’t expected to get too much better in 2017 as the real estate market is projected to face another year of supply shortages and affordability constraints, according to the “2017 California Housing Market Forecast” released by the California Association of Realtors.
And California isn’t the only hot market. HousingWire recently took a deeper look into Dallas’ housing market as we raised these questions: At what point does a booming market become an overheating one? Can we really pinpoint when San Francisco crossed the line? Has Dallas crossed it yet?
While it may not have crossed the line just yet, there is no doubt that affordability constraints continue to tighten in the city.
Nationally, home affordability is at its worst level in seven years, with 24% of the U.S. county housing markets less affordable than their historic affordability averages in the third quarter, the most recent ATTOM Data Solutions Home Affordability Index for third quarter 2016 recorded.
However, not all hope is lost. The most recent S&P CoreLogic Case-Shiller Indices results showed that household incomes are actually rising faster than home prices, leading some experts to believe the affordability crisis could be almost over.
Millennials are more likely than other generations to expect a price bubble and correction in the next two years with 60% of Millennials versus 47% of the total American population.
Prospective first-time homebuyers in particular are nervous about market instability – only 25% of these Millennial non-homeowners are confident that the 2008 housing crisis will not happen again in their lifetimes, according to the index.
With that said, 70% of Millennials still say the American Dream is alive and well, they just describe it different than previous generations. They prefer to own a home, but don’t want to be tied down.
In fact, 83% of Millennials claim that their definition of the American dream is “owning a home on my own terms while staying mobile, agile and financially secure.” About 81% of Millennials plan to live in their current home for less than five years.
The index shows that 76% of non-homeowners want to buy a home, however only 38% are confident they can afford a down payment.
And it’s no wonder. In some areas, the lack of affordable housing is making it much more difficult for students to continue in their career, much less buy a home after they graduate.
Student loan debt is playing its biggest role in the mortgage process yet, and it doesn’t look like it’s changing anytime soon. After all, many Millennials have yet to finish college, and the tail end of the generation is barely 18.
But some experts say that while student debt has a bigger role, it’s not necessarily the worst thing to ever happen to housing. Here’s why.
Either way, like it or not, Millennials are currently the largest generation, and the future of housing. According to Freddie Mac, they are the key to improving the homeownership rate.
Smart Guide on Finding Your Next Home The purchase of your dream home is not an obvious task especially if it is your first you are doing this. It calls for very calculated steps for you to make a sound choice of the place you will be calling your home. This is not an affair to be done when your eyes are closed; you have to make a very informed decision. This piece tries to look at various considerations that you are supposed to make before you sign that contract of the transfer of the property. Before you set out on a mission to buy your next home, always ensure that you have conducted a sufficient research. It is very paramount for you to understand the current property market trends for you to be in a position to find the right home. Your efforts to find the most appropriate home for you may, however, be faced with some problems. Very many real estate agents will tend to entice you with all sorts of discounts. take your time and never make your purchase decisions in haste. The search can even start from where you are, just pick a gadget which can connect to the internet, tour the website of the property firm as this gives you crucial tips on the suitability and the credibility of the agent. Ensure that before you even approach a particular property firm, you have done sufficient research. You still have to consider the amenities that would be available. Select the property which has the right choice of your amenities. In this case, focus on the homes that have modern amenities.
The 4 Most Unanswered Questions about Options
It is also splendid to do comparative property shopping. There are some of the apartments that allow pets inside while others don’t. Pet lovers you have to ensure that the apartment allow pets or not.
The 9 Most Unanswered Questions about Options
Do not limit yourself, compare different property options which are within your budget and choose the best of the many. Choose a real estate firm which has a sound track record in the current property business. It is very paramount for you to consider the track record of the real estate firm. The reason why you should choose these firms is rather simple; they will give you a vast room to make your choice of selection. All you have to take into account is to have your budget right as well as your primary considerations and preferences. In such a situation, you are left with full freedom to choose depending on your own reasons such as budget, taste and preferences, amenities and any other considerations.
Guide to Selecting the Best Real Estate Agent
The rise of online real estate information has made it a lot easier to be an informed consumer when buying or selling a home. Nonetheless, the digital revolution has less influence when it comes to the import of picking the ideal real estate agent to work with you. The perfect agent can help you in buying your dream house or sell your existing home quickly. The wrong agent can mishandle the transaction, leaving you at a loss financially and nowhere to call home.
Notwithstanding the high stakes, many buyers and sellers do not take the time to warily pick an agent, whether they’re buying or selling. You should remember that it’s a long-time, intimate, trusting relationship. If you are looking for the right real estate agent, here are some of the important considerations to take note of.
The real estate agent should know to not ask for too much. Everyone seems to price their own property higher than the market value. Both of you should be reasonable if you want the sale to be quick. Examine other properties in the neighborhood to get a better idea of how much the property should be sold at.
Look at Current Listings
Look through the agent’s listings online. You can find this information at the agency’s own website or on other sites which offer a searchable online database of properties. Most buyers begin looking for houses on the internet, and you need an agent who leverages that tool effectively. One vital factor is an engaging presentation on the web. Examine how closely the agent’s listings complement the house you want to buy or sell. Are they found in the same area? Do they have a similar price range? Does the agent have sufficient listings to signify a thriving business but not so many that you’d just be a number?
One of the most forgotten considerations in employing a real estate agent is his personality. Even though you may not be talking about your case together over dinner each night, when you are looking to buy or sell quickly, the last thing you need is a real estate agent who is not going to be there for you to answer your questions, give you a status update on your case or return your calls within a fair period of time.
Do not only ask questions, consider this a great opportunity to demeanor and professionalism of the real estate agent. If there is adequate time, ask if you can look at photos and information of past clients who have a similar property to yours.
Choose the Best Real Estate Agent from Among the Rest
You might be unsure why you must find a real estate agent; after all you can always find information online. Actually, there are many sensible explanations for such a move.
For starters, agents are very familiar with all the technicalities of selling homes that you do not have to bother yourself with. They can identify if the people who come to check out your home are time-wasters or not, assist you with the price, and boast of comprehensive local and market information alongside strong networking as well negotiating skills. If you believed every agent was out to make as much money as he can, as soon as he can, this isn’t necessarily true.
Now, how are you going to go about looking for the proper agent to market your home?
Pay attention to listing signals nearby. There might some that are quick to disappear because it is very likely the agent was quick to perform their job.
You could as well try scouting about the print ads where agents market not only the property but themselves as well, or attend “open house” gatherings which some of these agents host. Or look for several agents’ sites on the Internet and spot one you fancy.
Among the best advertisements is word of mouth, so if your friends or relatives have employed an agent in the past then you can ask for their recommendation. This is a very useful recommendation if it is coming from a person you know who has purchased in a desirable neighborhood or acquired a property that you desire yourself.
It is actually a sensible idea to look for a real estate agent who is dedicated to the type of property you desire, whether or not you have some personal recommendation.
There are several fields that real estate agents dedicate themselves in. Those who are distinguished as senior real estate specialist specifically work with elder clients, while some are dedicated to marketing environmentally friendly structures.
You may come across an agent who is a member of the National Association of Realtors. He/she is thus realtor, meaning that they need to observe the NAR’s standards or ethical code of conduct.
Consult several agents ahead of choosing one, and try to locate some clients to ask them regarding their experiences. When questioning potential agents, include questions related to their experience, history, how long have they been working in their present post, what are their specializations, and how do they intend to help you with the search. Tell them the sort of home you wish to purchase along with your budget.
If you can follow the aforementioned tips, put some attention to the entire process, then you should realize that it is not that difficult to find the real estate agent that is right for you.
Real Estate Talk: Tips on Resolving Water Damage Through Water Damage Restoration
Water damage can arise from a broken pool pump to failed drainage systems. Life will not exist without it, but water could be a big problem if it causes serious damages to properties. Water seeps into our home’s vulnerable areas, causing the most mayhem possible. When the water seeps and reach a neighbor’s property, it may cause serious disputes.
In real estate investment, beware and check for the possibility of the presence of water damage, especially in very old properties or properties that long never been lived. It is always best to consult a realtor to know the extent and details of water damage, to guide you hire the best water damage restoration company for any of your existing and future real estate investment. Valuable objects may become permanently damaged because seeping water can be progressive and pervasive, if emergency response is delayed more than 48 hours. There are immediate steps you can do to reduce the amount of long-term damage commonly caused by plumbing failure caused by water damage.
For detecting flood damage, close the water main and shut off all water source to stop the flooding and shut down electrical breaker before removing electrical devices from wet submerged areas. To prevent permanent staining, you can put aluminum foil under your furniture’s feet which are in contact with water or wet carpet to prevent permanent stains. Raise draperies or curtains away from water or wet carpet, and tack up and lift any skirts of your upholstered furniture. Be sure to also remove shoes, fabrics, potted plants, books, papers or other items that can stain wet carpet. Never vacuum because it can result to electrical shock, damaging your equipment as well. It is a common practice placing newspaper in traffic areas can transfer ink easily to wet carpet fibers, so avoid using it to prevent permanent staining. Otherwise necessary, don’t walk on carpet to prevent damage from spreading to unaffected areas. Do not delay water damage restoration services, because shopping vacuums or carpet drying equipment can’t prevent water from climbing on the walls, beneath baseboard, and molding into still plates.
The extent of water damage is beyond the things that directly in contact with flood water, because internal humidity causes moisture that can be absorbed by these things. We are a water damage restoration company with highly knowledgeable and highly skilled restoration technicians, with training on various water damage mitigation procedures in order to dry an entire structure as fast as possible. If you and your realtor are looking for a trusted and reliable water damage restoration company, you may check our website for more details regarding our restoration services.
Top Reasons to Hire a Real Estate Agent
We live in the age of do-it-yourself projects. The internet has given us a seemingly boundless reservoir of information, which makes it easier than ever to search for what we need to know to conduct just about everything all by ourselves. Due to this fact, when it comes time to buying or selling homes, most people ask themselves if employing a real estate agent is really worth it. A quick search online is sure to flood you with tips that suggest otherwise. Nonetheless, the process of buying or selling a home is normally something that should not be handled alone. Below are some of the advantages of employing a real estate agent.
Connections with Other Professionals
Real estate agents have worked with other professionals before, many of whom offer services that you will need to employ yourself (e.g. electricians, general contractors, plumbers). Because of legal liability, many agents will hesitate to recommend a particular person or company over another, but they have intensive knowledge about which service providers have a reputation for efficiency, competency and competitive pricing. They can, nevertheless, give you you a list of references of people with whom they have worked and offer background information to help you make a wise choice.
Price is clearly a deal maker or deal breaker when it comes to finding a real estate agent to help you sell or buy a house. Nonetheless, if you choose to forgo hiring a real estate agent solely to save a dollar now, you may not be able to benefit as much in the long-term when it comes to delivering the results you were aiming for. Do not forget that it is about value, not cost. Selling a property tends to be a very complex and specialized process. It is not for amateur and unreliable seller!
Fight to Obtain the Best Price
Ask the candidates which homes they have sold in your neighborhood, how they will market your home, how much they charge, and how quickly their last 5 to 10 listings sold. Search for customer feedback. Be suspicious of agents who will lock you in for 6 months with a listing contract. More importantly, choose an agent who will fight to get the deal that’s best for you, not the one that’s easiest for her.
Increase your Home’s Resale Value
Together with displaying a clean home, there are many enhancements that can be added to a property that will boost its resale value. A reputable real estate agent can give you recommendations concerning this.
Top Reasons Why You Must Hire a Water Damage Restoration Company
If you recently saw your home getting flooded by water by whatever cause, the damage it gets in the process will remain painful to you and your family, especially with most of your things becoming useless. Even though you think you can do the cleaning on your own, it’s not really that simple since once the water dries up, there is more work to be done. The thing is water damage usually has a long term effect to your home and all your property, and this is quite true if the cleaning process isn’t done thoroughly. Generally speaking, the two most common causes of water damage to your home and property are leaking/bursting pipes and flooding; in which if either of those unfortunate scenarios happen in your home, the best way to deal with it is to call a professional water damage restoration expert.
The purpose of hiring an expert restorer isn’t just to salvage your things so that they still can be used. They’re the same individuals whom you can trust to guarantee that your home is livable once again.
Now if you still aren’t particularly sure about how this kind of company might help you, we’ve compiled some of the most evident reasons why you need to hire them.
1 – They hand out expert service.
Even if you are an avid do-it-yourself type of homeowner, you can never tell whether your stuff just needs cleaning or has been completely damaged or ruined. With amateur eyes and relatively no experience, you might end up doing more harm than good. But an expert water damage restoration company knows what it needs to do in order to make sure you get to salvage as many things as possible after the terrible water damage incident.
2 – They know there’s a need for mold remediation.
Every homeowner out there, including you may not be aware that the most serious consequence of water damage is the mold growth. Mold loves water, moist, and dark areas. If your place became a victim of flooding recently, you should expect mold growth in quite a few places, including the ceiling, walls, basement, and floor joists. So the most obvious reason why you need to hire a water damage restoration company is because aside from cleaning and getting rid of the standing water, they know how important it is to make sure the entire property wouldn’t become an ideal breeding ground for mold.
3 – Water damage restorers help you in your insurance claims.
In the end, hiring a water damage restoration company is quite helpful when it comes to getting a fair and deserving settlement from your insurance company, especially when they try to dispute that very same claim. In this regard, the help we’re talking about comes in the form of providing proof of damages as well as complete documentation of your losses.
Should you Start to Invest in Real Estate?
To have a secure future is as a matter off act what there are tons of people would want to make sure of. To give you the chance to establish their own services or store is what there are tons of people decide to do in terms of the business field. It is actually through investments that a person will give you the chance to have a secure future. There are tons of advantages that one will give you the chance to reap through the use of the investments. Another basic fact of the investments that you should know of is that there are various kinds to choose from. With the number of choices available, the most popular of them all is the real estate investment.
In real estate investing you have to keep in mind that the saying “time is gold” bears nothing but the truth. As time goes by and by, the money will also grow faster and faster and this is a phenomenon called as compounding. This is a phenomenon that will most likely happen when you will be investing in real estate as early as much as possible because as more time will pass by then the more money that you will give you the chance to accumulate.
Make sure that you will be well acquainted with the local rental market – In order for you to give you the chance to know which if the income properties have the highest demand for tenants you should read the local newspapers. It is safe to conclude that the retail space is more in demand if there are there are tons of classifieds that are looking for apartment tenants. You should be knowledgeable about the kind of products that you are investing your money in.
With the great deal of choices in the real estate investing it is for sure that you will give you the chance to find a choice that is suitable with your needs.
It is actually important that you will give you the chance to involve yourself in real estate investments. Before a person will move into the real estate investment, there is a need to inform the real estate company first. Another basic fact of the real estate investment that you need to know of is that it will give you the chance to give you the chance to have there are tons of benefits reaped.
It is as a matter of fact in great demand already that the use of the real estate investment is. This is as a matter of fact an opportunity that is presented by there are tons of financial institutions. To give you the chance to have as much information about real estate investment as possible is what you need to know and this is important. In this way, you can make sure that the right decisions will be made.
Source: meridian homes
Aurora Ontario – Interesting Facts About Their Real Estate Real estate in Aurora Ontario is actually pretty good. If you are thinking about joining the fray, it would really be a good choice since the business there is really good. The market value of each real estate in Aurora Ontario is pretty affordable compared to real estate in other places because the economy in Aurora Ontario is working pretty good. This means that you would get a greater deal in getting discounted houses. And in cases that you would be planning on getting a much higher profit from selling houses, it would be best that you start as soon as possible in Aurora Ontario because you will certainly get better deals. Before you do anything, if you are planning on joining real estate business, you should really consider having enough information and knowledge about the industry so that you will have a much easier way of climbing up. There will be some tips to bear in mind when coming into this business. It is important that you follow the important things so that you don’t get swallowed up by your competitors. When doing the tips that were instructed, it will really help you get more money out of what you are doing without cheating with the price. You will surely understand once you get to the bottom of each tip that is important. The online business world is really being used by these home sellers and you have to locate a good real estate so that you can buy and sell them so using the internet will be a great idea in this situation. If you want to get an easier way of getting profit from the house you will be selling, using the internet as a tool is so important. The internet is filled with properties and you should really understand how the online business world works as well. You can definitely use the internet in locating the best real estates in Aurora Ontario, that is why you should really think about getting the best. You will never be stopped, there will be so many things that you can do with the internet and looking for the right real estate is one of them. If you are dealing with the internet, you will surely have so many websites with properties being sold really cheap, that is why you should act now and resell them when the economy is back in good terms again.
Properties – My Most Valuable Tips
The deals you get from the internet is all thanks to the advancement of technology and when you are able to adapt to that you will certainly have a greater chance of getting more profit.
The Essential Laws of Sales Explained
Real estate in Aurora Ontario is really booming so go and initiate the best business you can make.
Aurora Real Estate: Understanding the Basics of Real Estate Investment People are now becoming curious about the nature of a real estate investment, its benefits and the things the need to be considered. People often rely in the knowledge, skills and expertise of a real estate agent for handling, promoting and purchasing a real estate property. People understand that real estate investing aims to gain short-term and long-term benefits and return of investment. To ensure that you are equipped with the proper knowledge and understanding, it is important to research on the things you need to consider before investing in real estate, and consult a real estate agent as necessary to know their real life testimonies and experiences. Some of the things investors should evaluate and consider when searching for a perfect real estate investment include location, employment opportunities, amenities, safety, rent, schools, future development, inventory, property taxes and insurance. Location is an important determinant if a real estate property will gain quicker return of investment, because it has a major influence on the type of renters attracted to your rental property, their decisions and choices. In real estate, the more central the location is, the greater is its demand, so renters consider the proximity of a leased property to transportation, universities and colleges, major business centers, hospitals, local restaurants and shopping locations. People are attracted to amenities like parks, shopping malls, movie theaters, gyms and a good access to public transportation. Always remember that locations with a growing job market attract the interest of most people, such as investing in college towns is a good option for a steady flow of students who want to rent off-campus. The staple of income properties is leasing, because you’re going to want a coverage for taxes, mortgage payment and other miscellaneous expenses such as insurance. Inquiring about crime rates is very important for you to be assured of the safety of your renters and your real estate property. Future development has a major impact in the value of your property, and there is greater and faster appreciation of investment property in neighborhoods in early stages of gentrification. It is essential that you look for the market trends before making any decision, because rental and vacant rates has a major impact on your monthly rental income and rental rates. It is also advisable reviewing the taxes and current market value assessments to determine if there’s a reason why they are high or low. It is good to do some research with your insurance agent to determine the risks of claims that might exist, and the coverage you can get in terms of flood plains or possible proximity to natural disasters. Condo corporations are responsible for doing external repairs, so considering the low maintenance for condominiums, first time investors can consider this as the best real estate property investment for them, along with residential single family residences.What Has Changed Recently With Sales?
What You Need To Know When Investing In Real Estate? As you buy real estates, properties, lots and houses in Portugal, then you should consider a lot of things before you decide where to invest. Here are some important points that you should take note when investing in Portugal. If you keep on worrying about the huge rent you pay on a monthly basis, then it might be best that you invest on real estates today. There are hundreds of houses and properties that are for sale in Portugal, so make it a point that you do more research and choose the best deals. Keep in mind that it is important that you consider the various features that are offered when you want to purchase a particular house or property, make sure that you choose the one that is suitable for you. When you buy Portugal property, then this will surely a be a great investment for you especially when you want to build a retirement or vacation house. Aside from this, there are a lot of great destinations that you can visit in Portugal. When you plan to buy real estate in Portugal, it is also important that you consider factors like easy access to transportation systems, hospitals, and supermarkets as well.
Lessons Learned About Options
When you live in Portugal, you will certainly notice that the climate is just great. You should know that Portugal has low humidity conditions and this would be great for you if you want year long sunshine.
Questions About Properties You Must Know the Answers To
There are many reasons why you should buy real estate in Portugal such as enjoying various outdoor activities. Some of the outdoor activities that you and your family can enjoy would include fishing, surfing on the seas, and even climbing on the mountains. If you want, you can also do biking and hiking activities. It would also be a good idea to search online for some activities that you also might want to experience. When you buy real estate in Portugal, you should also consider the security of the location. You should always consider this especially when you have family and kids staying with you. Always remember that having a safe environment and peaceful atmosphere is something should be one of your top priorities. You should also check with the neighbors if they are peaceful, loving and caring. It is therefore best that you consider all the important details and features when you are looking for real estate in Portugal. It would be a great deal for you if you do more research about Portugal properties as well. If you want, you can also buy a luxury property in Portugal, just be sure that you check the place personally first and choose a place that you feel comfortable with. Make sure that you find that dream house you always want in Portugal!