Friday, February 16, 2024 / by Shawn Viguerie
Homeownership is a major part of the American Dream. But, the path to achieving this dream can be quite difficult. While progress has been made to improve fair housing access, households of color still face unique challenges on the road to owning a home. Working with the right real estate experts can make all the difference for diverse buyers.
It's clear that achieving homeownership is more challenging for certain groups because there’s still a measurable gap between the overall average U.S. homeownership rate and that of non-white groups. Today, Black households continue to have the lowest homeownership rate nationally (see graph below):
Homeownership is an important part of building household wealth that can be passed down to future generations. According to a report by the National Association of Realtors (NAR), almost half of Black homebuyers in 2023 were first-time buyers. That means many didn’t have home equity they could use toward their home purchase.
That fi. ...
Friday, February 9, 2024 / by Shawn Viguerie
Not that I am the Dr. of Love or anything like that… But then again, most probably like to believe they are. After all - Love is a many splendid thing. My favorite Love Description is from 1 Corinthians 13: Love is patient, love is kind. It does not envy, it does not boast, it is not proud. It is not rude, it is not self-seeking, it is not easily angered, it keeps no record of wrongs. Love does not delight in evil but rejoices with the truth. It always protects, always trusts, always hopes, and always perseveres.
It doesn’t matter your ‘religious persuasion’ to say “yea, that IS a great description of LOVE”. I am talking LOVE because February is the Love month, rightly celebrated with Valentine’s Day.
I could go on with all kinds of examples like – Love Your Neighbor as Yourself, even go all business on you with accolades about how much we love doing business with you, or how much we love your referrals and more – but ...
Tuesday, January 30, 2024 / by Va Marketing
If you're considering purchasing a home this year, chances are you're closely monitoring the housing market. You're gathering information from various sources like news outlets, social media, your real estate agent, and discussions with friends and family. The topics of home prices and mortgage rates likely dominate these conversations.
Here are the two primary questions you should be asking yourself as you navigate this decision, along with key insights to help you cut through the noise.
What's the Outlook for Home Prices?
A reliable source for understanding home price projections is the Home Price Expectations Survey conducted by Fannie Mae. This survey compiles insights from over a hundred economists, real estate experts, and market strategists.
According to the latest survey findings, these experts anticipate continued growth in home prices at least until 2028 (refer to the graph below):
While the rate of appreciation may not match that of recent years, the crucial takeawa. ...
Friday, January 26, 2024 / by Va Marketing
Are you considering the idea of living under one roof with your extended family, such as grandparents, parents, or other relatives? If so, you're part of a growing trend. More and more buyers are opting for multi-generational homes, and here are some key reasons why, to help you decide if this type of home is right for you too.
Why Multi-Generational Living is Popular
The decision to invest in a multi-generational home is often driven by affordability, as highlighted by the National Association of Realtors (NAR). According to their research, affordability is a top priority for both first-time and repeat buyers (refer to graph below):
For first-time buyers, the focus is primarily on cost savings, with 28% citing this as a key reason. By sharing financial responsibilities like mortgage payments and utilities with others, buyers can make homeownership more attainable, particularly in today's challenging market conditions.
Additionally, buyers are choosing multi-generational homes tot ...
Friday, January 19, 2024 / by Va Marketing
Are you delaying your plans to sell due to concerns about finding a suitable home for your move? It might be the right time to consider the advantages of a newly built home. Here's why.
A Surge in New Home Inventory
The landscape of housing inventory is witnessing a significant shift with an increasing share of newly built homes. According to the latest report from the National Association of Home Builders (NAHB):
“Newly built homes available for sale accounted for 31% of total homes available for sale in November, compared to an approximate 12% historical average.”
This surge means that the proportion of newly built homes available for purchase is more than double the usual average. Moreover, there's a steady stream of new homes entering the market.
Data from the Census indicates a rise in both housing starts (commencement of new construction) and housing completions (homes where construction has recently concluded).Far from being a concern about overbuilding, thi; ...