A current myth in residential real estate that is suppressing some first time home buyer sales is that a 20% down payment is required to get a mortgage loan. A recent survey by Freddie Mac showed that over 50% of respondents thought 20%
The first four months of this year started at a slower pace than normal and behind last year and we were puzzled because we saw all the ingredients for a very strong housing market here in greater Lansing. The first and fundamental driver
All the conditions are there for continuing growth in real estate sales in greater Lansing. We sense that the essential element of consumer confidence here is growing and there are many reasons why that is happening. Much of the reinvention and reinvigoration of
According to the National Association of REALTORS 2013 Profile of Home Buyers and Sellers, eighty-eight percent of home buyers purchased through a real estate agent or broker. Seven percent purchased from a builder or their agent but many used an agent to
Just as we have forecast, demand for homes is continuing to escalate. Inventory of salable homes is still lower than normal and buyers are abundant. The relaxing of lending standards is qualifying more buyers and the economic attractiveness of buying versus renting
This year got off to a slower than normal start and though the sales volume in the greater Lansing market has increased about 3.7%, much of the gains came in May. Extremely bad weather this past winter caused many sellers to put
Because mortgage interest rates are rising as are average selling prices, we have continuously encouraged first time buyers to stop renting and get into home ownership. It has proven over decades to be the best way to build wealth. But for many
A recent survey by Ellie Mae and reported in the LA Times confirms what we are experiencing in greater Lansing. What they discovered was: The the percentage of new loans with under 700 FICO scores is growing and FHA insured loans had
If you read or listen to the national media you would think that mortgage financing was very difficult to get and that an escalation in average selling prices, which affects overall affordability, has forced investors and first time buyers out of the
We've said this before but now it is happening. Demand is skyrocketing. Buyers are plentiful, mortgage money is readily available to the reasonably credit worthy, and the inventory of saleable listings, though improving, is still not close to meeting demand. This is technically