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US Real Estate News for Global Investors 9-1-2021

Posted By Yoshi Takita on September 01, 2021 in National Association of Realtors (NAR)

What You Can Do Right Now To Prepare for Homeownership What You Can Do Right Now To Prepare for Homeownership | MyKCM As rent prices continue to soar, many renters want to know what they can do to get ready to buy their first home. According to recent data from ApartmentList.com: “The first half of 2021 has seen the fastest growth in rent prices since the start of our estimates in 2017. Our national rent index has increased by 11.4 percent since January . . . .” Those rising rental costs may make it seem impossible to prepare for homeownership if you’re a renter. But the truth is, there are ways you can – and should – prepare to purchase your first home. Here’s some expert advice on what to do if you’re ready to learn more about how to escape rising rents. Start Saving – Even Small Amounts – Now Experts agree, setting aside what you can – even smaller amounts of money – into a dedicated savings account is a great starting point when it comes to saving for a down payment. As Cindy Zuniga-Sanchez, Founder of Zero-Based Budget Coaching LLC, says: “I recommend saving for a home in a ‘sinking fund’ . . . . This is a savings account separate from your emergency fund that you use to save for a short or mid-term expense.” Zuniga-Sanchez adds saving in smaller increments can help make a large goal – such as saving for a down payment –achievable: “Breaking up your goals into smaller bite-sized pieces by saving incrementally can make a large daunting number more manageable.” Assess Your Finances and Work on Your Credit Another tip experts recommend: take a look at your overall finances and credit score and find ways to reduce your debt. According to the HUD, the average credit score of first-time homebuyers is 716. If you’re not sure what your credit score is, there are numerous online tools that can help you check. If your score is below that average, don’t fret. Remember that an average means there are homeowners with credit scores both above and below that threshold. If you find out your score is below the average, there are several ways to improve your credit before you apply for a loan. HUD recommends reducing your debt as much as you can, paying your bills on time, and using your credit card responsibly. Start the Conversation with Your Advisor Today Finally, it’s important to talk to someone who understands the market and what it takes to become a first-time homebuyer. That’s where we come in. A trusted advisor can help you navigate your specific market and talk you through all the available options. Having the right network of real estate and lending professionals in your corner can help you plan for the homebuying process as well as determine what you can afford and how you can get pre-approved when you’re ready. Most importantly, we can help you understand how homeownership is achievable. As Lauren Bringle, Accredited Financial Advisor with Self Financial, says: “Don’t write home ownership off just because you have a low income . . . . With the right tools, resources and assistance, you could still achieve your dream.” Bottom Line If you’re planning to be a homeowner one day, the best thing you can do is start preparing now. Even if you don’t think you’ll purchase for a few years, let’s connect today to discuss the process and to set you up for success on your journey to homeownership.

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2021 Global Real Estate Summit NYC USA

Posted By Paul Xumsai on August 29, 2021 in National Association of Realtors (NAR)

The 15th Annual Global Real Estate Summit NYC, hosted by 8 Regional REALTOR® Associations will convene the best minds in the world to tackle the real estate industry’s most urgent challenges and opportunities.

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Multigenerational Housing Is Gaining Momentum

Posted By Yoshi Takita on April 10, 2021 in National Association of Realtors (NAR)

If your house is feeling a little cramped with the addition of adult children or aging parents, it might be time to consider a move-up into a multigenerational home that better suits your changing needs.

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National Association of REALTORS (NAR) Global Update for Q3 2020

Posted By Yoshi Takita on September 18, 2020 in National Association of Realtors (NAR)

The National Association of REALTORS (NAR) will be conducting its global update for Q3 of 2020.

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The Latest Unemployment Rate Fell to 8.4%

Posted By Yoshi Takita on September 09, 2020 in National Association of Realtors (NAR)

The big surprise was that the unemployment rate fell to 8.4%, a full percent lower than what many analysts had forecasted earlier in the week. Though it is tough to look at this as great news when millions of Americans are still without work, the number of unemployed is currently much lower than most experts had projected it would be just a few months ago.

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Ask a Pro About Buying a Home

Posted By Yoshi Takita on August 21, 2020 in National Association of Realtors (NAR)

Some Highlights According to trending data, searches for key real estate topics are skyrocketing online.

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Sellers Are Returning to the Housing Market Sellers Are Returning to the Housing Market

Posted By Yoshi Takita on August 19, 2020 in National Association of Realtors (NAR)

In today’s housing market, it can be a big challenge for buyers to find homes to purchase, as the number of houses for sale is far below the current demand. Now, however, we’re seeing sellers slowly starting to come back into the market, a bright spark for potential buyers.

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Illinois Realtors's NAR Committee Leadership Appointments 2021

Posted By Chada Trithavornyuenyong on August 05, 2020 in National Association of Realtors (NAR)

Congratulations to the ten Illinois REALTORS for being appointed to leadership roles for the National Association of REALTORS in 2021.

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Thailand's Stat of Emergency extension to be proposed

Posted By Paul Xumsai on July 21, 2020 in National Association of Realtors (NAR)

Thailand’s committee on lockdown easing is planning to propose that the state of emergency be extended by another month to the end of August. The committee is citing increased uncertainty of the pandemic Covid-19.

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Mortgage Rates Hit Record Lows for Three Consecutive Weeks Over the past several weeks

Posted By Yoshi Takita on July 15, 2020 in National Association of Realtors (NAR)

The average 30-year fixed mortgage rate dropping to record lows, all the way down to 3.03%. Last week’s reported rate reached the lowest point in the history of the survey

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