From Empty Nest to Full House… Multigenerational Families Are Back!

Multigenerational homes are coming back in a big way! In the 1950s, about 21%, or 32.2 million Americans shared a roof with their grown children or parents. According to a recent Pew Research Center report, the number of multigenerational homes dropped to as low as 12% in 1980 but has shot back up to 19%, roughly 60.6 millionpeople, as recently as 2014.

Multigenerational households typically occur when adult children (over the age of 25) either choose to, or need to, remain living in their parent’s home, and then have children of their own. These households also occur when grandparents join their adult children and grandchildren in their home.

According to the National Association of Realtors’ (NAR) 2016 Profile of Home Buyers and…

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Buying is Now 37.7% Cheaper Than Renting in the US

The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.

The updated numbers actually show that the range is an average of 17.4% less expensive in Honolulu (HI), all the way up to 53.2% less expensive in Miami & West Palm Beach (FL), and 37.7% nationwide!

Other interesting findings in the report include:

• Interest rates have remained low, and even though home prices have appreciated around the country, they haven’t greatly outpaced rental appreciation.
• Home prices would have to appreciate by a range of over 23% in Honolulu (HI), up to over 45% in Ventura County (CA), to reach the…

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Avery Ranch Market Update November 2016

We are seeing a slight shift in the Avery Ranch real estate market.

Sellers in Avery Ranch who maintain their home are still being rewarded with great sales prices. However, owners who have not prepared their home prior to coming on the market or who are not hiring an experienced listing agent are seeing a significant loss of market value.

The average days on market increased to 74 days, largely due to 4 homes that each took over 142 days to sell.

More telling is there were 10 homes that did not sell at all and were taken off the market. That is a significant number of homes for Avery Ranch.

In October we sold 2 homes in Avery Ranch that were previously listed with other agents. In both instances after we brought in a home stager to better…

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Have You Put Aside Enough for Closing Costs?

There are many potential homebuyers, and even sellers, who believe that you need at least a 20% down payment in order to buy a home, or move on to their next home. Time after time, we have dispelled this myth by showing that there are many loan programs that allow you to put down as little as 3% (or 0% with a VA loan).

If you have saved up your down payment and are ready to start your home search, one other piece of the puzzle is to make sure that you have saved enough for your closing costs.

Freddie Mac defines closing costs as:

“Closing costs, also called settlement fees, will need to be paid when you obtain a mortgage.  These are fees charged by people representing your purchase, including your lender, real estate agent, and…

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7 Graphs That Show the Real Estate Market is Back!

Some Highlights:

• Distressed property sales fell to its lowest number since NAR began tracking it in 2008.
• As you can see, with less distressed properties, sales are up in all price ranges except the $0 - $100K price range.
• Interest rates are still at historic lows, signifying that now is the right time to buy!

If your are interested in buying a home this year call/text me directly at 512-791-7473 or send me an email at eric@koparealestate.com

Have a Question?

Contact Us Now!

*Your information will never be shared with any third party.

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Do I Need A Permit

Are you thinking about making changes to your home or yard? Making changes to your most important investment can be an exciting and complicated process!

It’s still a good idea to verify necessary permits with your county’s permit office and here are their contacts:

Austin Development Services Department: 512-978-4000
Travis County Permit Office: 512-854-4215
Williamson County Engineer: 512-943-3330

Read original post here.

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*Your information will never be shared with any third party.

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Mortgage Rates by Decade Compared to Today

Some Highlights:

• The interest rate you secure for your mortgage greatly influences your monthly housing costs.
• In the 1980s, 30-year fixed mortgage rates averaged in the high 12s making the monthly principal and interest payment over $2,000.
• Interest rates are still at historic lows; this is a great time lock in your housing cost and protect yourself from increasing rents, or refinance your current mortgage.

If your are interested in buying a home this year call/text me directly at 512-791-7473 or send me an email at eric@koparealestate.com

Have a Question?

Contact Us Now!

*Your information will never be shared with any third party.

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3 Questions to Ask Before Buying Your Dream Home

If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family will have your best interest at heart, they may not be fully aware of your needs and what is currently happening in the real estate market.

Ask yourself the following 3 questions to help determine if now is actually a good time for you to buy in today’s market.

1. Why am I buying a home in the first place?

This truly is the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with money.

For example, a recent survey by Braun showed that over 75% of parents say “their child’s education is an important…

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The Past, Present & Future of Home Prices

CoreLogic released their most current Home Price Index last week. In the report, they revealed home appreciation in three categories: percentage appreciation over the last year, over the last month and projected over the next twelve months.

Here are state maps for each category: 

The Past – home appreciation over the last 12 months

The Present – home appreciation over the last month

The Future – home appreciation projected over the next 12 months

Bottom Line

Homes across the country are appreciating at different rates. If you plan on relocating to another state and are waiting for your home to appreciate more, you need to know that the home you will buy in another state may be appreciating even faster.

…

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5 Stats That Prove the Real Estate Market Is Getting Stronger

Here are five data points that show the housing market will continue to recover, and that a new housing crisis is not about to take shape.

1) Mortgage availability is increasing, but is nowhere near the levels we saw in 2004-2006.

A buyer’s chances of being approved for a mortgage have increased over the last three years; That’s good news for the market. This is not a precursor to another challenge, as many experts maintain that it is still too difficult for many buyers to attain house financing.

As Jonathan Smoke, the Chief Economist of realtor.com, recently explained:

“The havoc during the last cycle was the result…of speculation fueled by loose credit. That’s the exact opposite of what we have today.”

2) The Housing Affordability…

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