Are you next? What does it take to get ready to buy a home in 2018? How can you qualify? Where do you get that elusive down payment? In this Seller’s Market, what does your Realtor need do for you to beat other offers? What are Sellers looking for in a “good” offer?
According to a new analysis by Owners.com, the Midwest is attracting more single and unmarried women who are choosing to put down roots and buy a home. Cincinnati topped its list, followed by Kansas City, Kan., and Kansas City, Mo.
Phil Karp, senior manager of brokerage services at Owners.com says the following: “There is a noticeable shift toward more single women entering the real estate market, particularly given lower unemployment rates, rising incomes, and the value placed on homeownership. Housing inventory remains low and costs are high throughout the country.”
How strong a force have single and unmarried women become in real estate? They have outpaced single and unmarried men in homeownership since 1981, according to data from the National Association of REALTORS®. In 2016, 17 percent of single and unmarried women were homeowners. That compares to only 7 percent of single and unmarried men who owned a home. NAR research indicates that these women place a high value on owning their own home near family and friends.
How was the analysis done? Owners.com studied 50 metro areas across the country, factoring in each city’s average home value, median income for women, annual crime rate, walkability and public transportation, and the price of dinner for two people. The study came up with the 20 best places for single women to purchase a house. The following are the results for California:
Sacramento-Roseville, Calif.: 15.2%
Los Angeles-Long Beach, Calif.: 13%
San Jose-San Francisco-Oakland, Calif.: 13.7%
If you are interested in buying your next home, please contact me as I have very helpful information as to 5% and 10% down loans with no mortgage insurance requirements. Call or text me at 650 483-4932.
Why consider buying a house in the Summertime? According to Realtor.com, home prices peak from June to August, but there are advantages to buying during the market’s busiest season.
Some reasons why for the home price peak, are amount of inventory, interest rates and the local job market. There are more homes for sale in the summer than in the winter as well as sales of homes.
However, more inventory means more choices, making buyers “feel more confident in their search because additional properties hit the market every week,” says Sarah Lilly of Five Star Lakeshore Real Estate. “The large inventory offers significantly more opportunities for purchasers to identify specific floor plans, amenities, and locations.”
Also, with more properties for sale, buyers may have more leverage in negotiating prices. Those who need to sell their current home to purchase another, may find it easier to do so in the summer months.
In any case, if you are currently in the market to purchase a property, but are getting out-bid time after time (and then seeing a “Pending” sign like the one above) , give me a call, as I have a strategy to make your offer stand out, and have a better chance at getting it accepted—650 483-4932–Rafael.
Improved home buying affordability can mean more Buyers will be searching and buying homes, most likely for the first time. Home Buyers can take advantage of historically low interest rates and any down payment assistance programs that may exist in their city of choice.
Call/Text/E-mail me on how I can help you achieve the goal of purchasing your home. Call me at 650 483-4932. E-mail: firstname.lastname@example.org.
Start a home search at: www.RafaelCastroJr.com.