Houston Real Estate News

Aug. 14, 2019

La confianza de los estadounidenses en la vivienda está en un máximo histórico

Fannie Mae acaba de publicar la edición de julio del ‘Índice del sentimiento de la compra de vivienda’Home Purchase Sentiment Index (HPSI por sus siglas en inglés). El HPES toma la información sobre la confianza de los consumidores en el mercado de bienes rices de la ‘Encuesta nacional de la vivienda’ (National Housing Survey) de Fannie Mae y la acopia en un solo número. Por lo tanto, el HPSI refleja las opiniones actuales de los consumidores y las expectativas sobre el futuro de las condiciones del mercado de la vivienda.

¡Buenas noticias! El índice alcanzó su nivel más alto desde que Fannie Mae comenzó su encuesta. Desglosándolo, el informe reveló:

La proporción de los estadounidenses que dicen que es un buen momento para comprar una casa aumento desde la misma temporada del año pasado.
La proporción de quienes dicen que es un buen momento para vender una casa aumento desde la misma temporada del año pasado.
La proporción de los estadounidenses que dicen que no les preocupa perder su trabajo en los próximos 12 meses aumento drásticamente (16 puntos porcentuales) con respecto a la misma temporada del año pasado.
La proporción de los estadounidenses que dicen que las tasas hipotecarias bajarán en los próximos 12 meses aumento drásticamente (24 puntos porcentuales) desde la misma temporada del año pasado.

El día después de la publicación del índice, Freddie Mac también anunció que la tasa hipotecaria fija a 30 años cayó a su nivel más bajo en 3 años.

Doug Duncan, vicepresidente ejecutivo superior y economista principal de Fannie Mae explicó el repunte del índice:

“La confianza del consumidor en el trabajo y las expectativas favorables en las tasas hipotecarias elevaron el HPSI a un nuevo máximo en julio, a pesar de los desafíos continuos de la oferta de la vivienda y de la asequibilidad. Los consumidores parecen haber sacudido una caída invernal en el sentimiento en medio de fuertes ganancias de ingresos. Por lo tanto, el sentimiento estará proporcionado para aprovechar cualquier oferta que llegue al mercado, particularmente en la categoría asequible”.

En conclusión,

Los consumidores se sienten bien con el mercado de bienes raíces. Dado que los estadounidenses no están preocupados por sus empleos, ven las tasas hipotecarias cerca de un mínimo histórico, y creen que es un buen momento para comprar, el mercado de la vivienda seguirá siendo fuerte durante el resto del año.

Posted in Buyers, First Time Home Buyers, Housing Market Updates, Move-Up Buyers, Sellers

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Aug. 6, 2019

Millonario a Millennials: El error costoso de no comprar ahora

En su página electrónica personal, el millonario autodidacta David Bach hace una declaración impactante:

“No dar prioridad a la propiedad de la vivienda es el mayor error que cometen los millennials”.

Además, declaro: “Comprar una casa es una escalera mecánica a la riqueza”

Bach explica:

“Los adultos jóvenes en particular no se están moviendo en esta escalera, y es un error costoso… Si los millennials no comprar una casa, sus posibilidades de tener riqueza en este país son pocas o ninguna”.

Luego él profundiza en el juego de la propiedad de la vivienda:

“Comience por revisar los números… en realidad haga la matemática. De esta manera, tiene muy claro sus objetivos y no se dirá a usted mismo, ¡Nunca podré adquirir esto!”

Una buena regla general es asegurarse que su pago mensual total de la vivienda no consume más del 30 por ciento de su pago que lleva a casa”.

Bach concluye diciendo,

“A menudo, comprar su primera casa significa que no está comprando la casa de sus sueños… solo está entrando en el mercado”.

En conclusión,

Cada vez que un millonario respetado da consejos de inversión, las personas generalmente claman por escucharlo. Este millonario comparte algunas ideas simples y directas: “El hecho es que usted realmente no está en el juego de crear fortuna hasta que sea propietario de bienes raíces”.

Posted in Buyers, First Time Home Buyers, Millenial, Move-Up Buyers, Sellers

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July 25, 2019

3 razones poderosas para comprar una casa ahora

Si usted es un comprador por primera vez o está buscando mudarse a la casa de sus sueños, ahora es un gran momento para comprar una casa. Aquí hay tres razones principales para comprar una casa hoy.

1.Asequibilidad

Muchas personas se centran únicamente en el precio cuando se habla de asequibilidad de la vivienda. Dado que los precios de las casas han apreciado durante todo el año pasado, ellos asumen que las casas son menos asequibles. Sin embargo, la asequibilidad se determina por tres componentes:

Precios
Salario
Tasas de interés hipotecarias

Los precios han aumentado, pero también los salarios – y las tasas de interés han bajado drásticamente recientemente (ver #2 abajo). Como resultado, el último informe del Índice de asequibilidad de la Asociación nacional de Realtors (NAR por sus siglas en inglés) reveló que las casas son MAS asequibles en todo el país hoy que hace un año atrás.

“Todas las cuatro regiones vieron un aumento de la asequibilidad desde hace un año atrás. El sur tuvo la mayor ganancia en asequibilidad del 6.9 %, seguido por el occidente con la ganancia del 6.0%. El medio oeste tuvo un aumento del 5.8 %, seguido por el noreste con la menor ganancia del 1.8 %”.

2. Tasas de interés hipotecarias

Las tasas hipotecarias han caído casi un punto porcentual completo después de dirigirse hacia el 5 % el otoño pasado y principios del invierno. Actualmente, están por debajo del 4 %.

Además, Fannie Mae predijo recientemente que la tasa hipotecaria fija promedio a 30 años será del 3.7 % en el segundo semestre de 2019. Esto comparado con la tasa media del 4.4 % en el primer trimestre y 4 % en el segundo trimestre.

Con las tasas hipotecarias manteniéndose cerca de mínimos históricos, Fannie Mae y otros han aumentado su pronóstico de apreciación de la vivienda por el resto del año. Si las ganancias del precio de las viviendas están a punto de volver a acelerarse, comprar lo más pronto posible tiene sentido financiero.

3. Aumento del patrimonio familiar

La propiedad de la vivienda siempre ha sido reconocida como una manera sensacional de construir patrimonio familiar a largo plazo. Un informe nuevo de ATTOM Data Solutions revela que:

“Los propietarios de vivienda estadounidenses que vendieron el segundo trimestre de 2019 lograron una ganancia promedio del precio de la vivienda desde la compra de $67,5000, subió en comparación con la ganancia promedio de $57,706 en Q1 2019 y aumento de la ganancia promedio de $60,100 en Q2 2018. La ganancia promedio del vendedor de vivienda de $67,500 en Q2 2019 representó una rentabilidad promedio de 33.9 por ciento como porcentaje del precio original de compra”.

Cuanto más tiempo retrase la compra de una casa, más tiempo estará esperando para poner el poder de la plusvalía a trabajar para usted.

En conclusión,

Con la asequibilidad aumentando, las tasas hipotecarias disminuyendo, y el valor de las viviendas a punto de volver a acelerarse, puede ser momento de mudarse. ¡Reunámonos para determinar si comprar ahora tiene sentido para su familia!

Posted in Buyers, First Time Home Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers, Sellers

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July 17, 2019

Qué diferencia hace un año para los vendedores

En los últimos años, muchos vendedores han estado renuentes a poner sus casas en el mercado porque temían no poder encontrar otra casa para comprar.

Hemos informado sobre la escasez del inventario en el pasado, y ha sido una preocupación constante para los compradores potenciales a lo largo de los últimos años. Una nueva investigación muestra que la preocupación por el inventario está empezando a disminuir entre los compradores potenciales.

Según First American, los dos obstáculos principales para la propiedad de la vivienda que los compradores están sintiendo hoy son la asequibilidad y el inventario limitado. Esto significa que el sentimiento de que las casas son menos asequibles ha aumentado, mientras que el miedo a un inventario limitado ha disminuido, ofreciendo una gran cantidad de buenas noticias para los vendedores.

Al mismo tiempo, durante los últimos 12 meses, hemos visto un aumento constante en el número de casas para la compra llegando al mercado. En el pasado, la escasez de casas para la venta y el inventario disponible ralentizo el mercado de bienes raíces. Este aumento reciente en el inventario actual tiene a muchos compradores y vendedores ahora pensando que es el momento de mudarse ¡y con toda razón! Por los últimos dos meses, hemos visto inventario para más de 4 meses ponerse disponible para la venta, un número prometedor que ha ido aumentando lentamente este año y creando más oportunidades de compra.

Para apoyar aún más la idea de mejorar el mercado de bienes raíces, Sam Khater, el Economista principal de Freddie Mac dice,

“… A corto plazo, esperamos que el mercado de la vivienda siga mejorando tanto desde el punto de vista de las ventas como desde el enfoque de los precios”.

Muchos expertos, como Sam, creen que la segunda mitad de 2019 impulsará un mercado más fuerte del que vimos a principios del año. Esta es una gran noticia para los propietarios que han aplazado poner sus casas en el mercado y ahora están listos para mudarse.

En conclusión,

¡Qué diferencia hemos visto en el transcurso de este año! Si usted está pensando en vender, ahora es el momento ya que el inventario está aumentando.

Posted in Buyers, First Time Home Buyers, Housing Market Updates, Move-Up Buyers, Sellers, Selling Myths

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July 15, 2019

Home Price Appreciation Forecast

Questions continue to come up about where home prices will head throughout the rest of this year, as well as where they may be going over the few years beyond.

We’ve gathered current data from the industry’s most reliable sources to help answer these questions:

The Home Price Expectation Survey – A survey of over 100 market analysts, real estate experts, and economists conducted by Pulsenomics each quarter.

Mortgage Bankers Association (MBA) – As the leading advocate for the real estate finance industry, the MBA enables members to successfully deliver fair, sustainable, and responsible real estate financing within ever-changing business environments.

Zelman & Associates – The firm leverages unparalleled housing market expertise, extensive surveys of industry executives, and rigorous financial analysis to deliver proprietary research and advice to leading global institutional investors and senior-level company executives.

Freddie Mac – An organization whose mission is to provide liquidity, stability, and affordability to the U.S. housing market in all economic conditions extending to all communities from coast to coast.

The National Association of Realtors (NAR) – The largest association of real estate professionals in the world.

Fannie Mae – A leading source of financing for mortgage lenders, providing access to affordable mortgage financing in all markets.

Here’s the home price appreciation these experts are projecting over the next few years:

Bottom Line

Every source sees home prices continuing to appreciate, which is great news for the strength of the market. The increase is steepest throughout the rest of 2019, and prices should continue to rise as we move through 2020 and beyond.

Posted in Buyers, First Time Home Buyers, Housing Market Updates, Move-Up Buyers, Pricing, Sellers

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July 9, 2019

5 Powerful Reasons to Own Instead of Rent

Owning a home has great financial benefits.

In a recent research paper, Homeownership and the American Dream, Laurie S. Goodman and Christopher Mayer of the Urban Land Institute explained:

“Homeownership appears to help borrowers accumulate housing and nonhousing wealth in a variety of ways, with tax advantages, greater financial flexibility due to secured borrowing, built-in ‘default’ savings with mortgage amortization and nominally fixed payments, and the potential to lower home maintenance costs through sweat equity.”

Let’s breakdown 5 major financial benefits of homeownership:

1. Housing is typically the one leveraged investment available

Homeownership allows households to amplify any appreciation on the value of their homes by a leverage factor. A 20% down payment results in a leverage factor of five, meaning every percentage point rise in the value of your home is a 5% return on your equity. If you put down 10%, your leverage factor is 10.

Example: Let’s assume you purchased a $300,000 home and put down $60,000 (20%). If the house appreciates by $30,000, that is only a 10% increase in value but a 50% increase in equity.

2. You’re paying for housing whether you own or rent

Some argue that renting eliminates the cost of property taxes and home repairs. Every potential renter must realize that all the expenses the landlord incurs (property taxes, repairs, insurance, etc.) are baked into the rent payment already – along with a profit margin!!

3. Owning is usually a form of “forced savings”

Studies have shown that homeowners have a net worth that is 44X greater than that of a renter. As a matter of fact, it was recently estimated that a family buying an average priced home this past January could build more than $42,000 in family wealth over the next five years.

4. Owning is a hedge against inflation

House values and rents tend to go up at or higher than the rate of inflation. When you own, your home’s value will protect you from that inflation.

5. There are still substantial tax benefits to owning

We know that the new tax reform bill puts limits on some deductions on certain homes. However, in the research paper referenced above, the authors explain:

“...the mortgage interest deduction is not the main source of these gains; even if it were removed, homeowners would continue to benefit from a lack of taxation of imputed rent and capital gains.”

Bottom Line

From a financial standpoint, owning a home has always been and will always be better than renting.

Posted in Buyers, Downpayment, First Time Home Buyers, Move-Up Buyers, Rent vs Buy, Sellers

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June 28, 2019

Know What to Expect at Your Home Inspection

So you made an offer and it was accepted. Now, your next task is to have the home inspected prior to closing. Agents oftentimes make your offer contingent on a clean home inspection.

This contingency allows you to renegotiate the price you paid for the home, ask the sellers to cover repairs, or in some cases, to walk away. Your agent can advise you on the best course of action once the report is filed.

How to Choose an Inspector

Your agent will most likely have a short list of inspectors that they have worked with in the past that they can recommend to you. HGTV recommends that you consider the following five areas when choosing the right home inspector for you:

1. Qualifications – find out what’s included in your inspection and if the age or location of your home may warrant specific certifications or specialties.

2. Sample Reports – ask for a sample inspection report so you can review how thoroughly they will be inspecting your dream home. In most cases, the more detailed the report, the better.

3. References – do your homework – ask for phone numbers and names of past clients who you can call to ask about their experiences.

4. Memberships – Not all inspectors belong to a national or state association of home inspectors, and membership in one of these groups should not be the only way to evaluate your choice. Membership in one of these organizations often means that continued training and education are provided.

5. Errors & Omission Insurance – Find out what the liability of the inspector or inspection company is once the inspection is over. The inspector is only human, after all, and it is possible that they might have missed something they should have seen.

Ask your inspector if it’s okay for you to tag along during the inspection. That way they can point out anything that should be addressed or fixed.

Don’t be surprised to see your inspector climbing on the roof or crawling around in the attic and on the floors. The job of the inspector is to protect your investment and find any issues with the home, including but not limited to: the roof, plumbing, electrical components, appliances, heating & air conditioning systems, ventilation, windows, the fireplace and chimney, the foundation, and so much more!

Bottom Line

They say, ‘ignorance is bliss,’ but not when investing your hard-earned money into a home of your own. Work with a professional who you can trust to give you the most information possible about your new home so that you can make the most educated decision about your purchase.

Posted in Buyers, First Time Home Buyers, Move-Up Buyers, Sellers

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June 26, 2019

Before You Look for Your Dream Home: Know What You Want vs. What You Need!

In this day and age of being able to shop for anything anywhere, it is really important to know what you’re looking for when you start your home search.

If you’ve been thinking about buying a home of your own for some time now, you’ve probably come up with a list of things that you’d LOVE to have in your new home. Many new homebuyers fantasize about the amenities that they see on television or Pinterest, and start looking at the countless homes listed for sale through rose-colored glasses.

Do you really need that farmhouse sink in the kitchen to be happy with your home choice? Would a two-car garage be a convenience or a necessity? Could the "man cave" of your dreams be a future renovation project instead of a make-or-break right now?

The first step in your home buying process should be getting pre-approved for your mortgage. This allows you to know your budget before you fall in love with a home that is way outside of it.

The next step is to list all the features of a home that you would like, and to qualify them as follows:

"Must-Haves" – if this property does not have these items, then it shouldn’t even be considered (ex: distance from work or family, number of bedrooms/bathrooms).
"Should-Haves" – if the property hits all of the ‘must-haves’ and some of the ‘should-haves,’ it stays in contention but does not need to have all of these features.
"Absolute-Wish List" – if we find a property in our budget that has all of the ‘must-haves,’ most of the ‘should-haves,’ and ANY of these, it’s the winner!

Bottom Line

Having this list fleshed out before starting your search will save you time and frustration. It also lets your agent know what features are most important to you before they start showing you houses in your desired area.

Posted in Buyers, First Time Home Buyers, Move-Up Buyers, Sellers

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June 24, 2019

Stop Wondering What Your Budget Is & Get Pre-Approved!

In many markets across the country, the number of buyers searching for their dream homes outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show that you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.

Even if you are not in an incredibly competitive market, understanding your budget will give you the confidence of knowing whether or not your dream home is within your reach.

Freddie Mac lays out the advantages of pre-approval in the ‘My Home’ section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

One of the many advantages of working with a local real estate professional is that many have relationships with lenders who will be able to help you through this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding “your credit, debt, work history, down payment and residential history.”

Freddie Mac describes the ‘4 Cs’ that help determine the amount you will be qualified to borrow:

Capacity: Your current and future ability to make your payments
Capital or cash reserves: The money, savings, and investments you have that can be sold quickly for cash
Collateral: The home, or type of home, that you would like to purchase
Credit: Your history of paying bills and other debts on time

Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.

Bottom Line

Many potential homebuyers overestimate the down payment and credit scores necessary to qualify for a mortgage. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so today.

Posted in Buyers, First Time Home Buyers, Housing Market Updates, Move-Up Buyers, Sellers

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June 19, 2019

What You Need to Know About Private Mortgage Insurance (PMI)

Whether it is your first time or your fifth, it is always important to know all the facts when it comes to buying a home. With the large number of mortgage programs available that allow buyers to purchase homes with down payments below 20%, you can never have too much information about Private Mortgage Insurance (PMI).

What is PMI?

Freddie Mac defines PMI as:

“An insurance policy that protects the lender if you are unable to pay your mortgage. It's a monthly fee, rolled into your mortgage payment, that is required for all conforming, conventional loans that have down payments less than 20%.

Once you've built equity of 20% in your home, you can cancel your PMI and remove that expense from your mortgage payment.”

As the borrower, you pay the monthly premiums for the insurance policy, and the lender is the beneficiary. Freddie Mac goes on to explain that:

“The cost of PMI varies based on your loan-to-value ratio – the amount you owe on your mortgage compared to its value – and credit score, but you can expect to pay between $30 and $70 per month for every $100,000 borrowed.”

According to the National Association of Realtors, the average down payment for all buyers last year was 13%. For first-time buyers, that number dropped to 7%, while repeat buyers put down 16% (no doubt aided by the sale of their homes). This just goes to show that for a large number of buyers last year, PMI did not stop them from buying their dream homes.

Here’s an example of the cost of a mortgage on a $200,000 home with a 5% down payment & PMI, compared to a 20% down payment without PMI:The larger the down payment you can make, the lower your monthly housing cost will be, but Freddie Mac urges you to remember:

“It's no doubt an added cost, but it's enabling you to buy now and begin building equity versus waiting 5 to 10 years to build enough savings for a 20% down payment.”

Bottom Line

If you have questions about whether you should buy now or wait until you’ve saved a larger down payment, let’s get together to discuss our market’s conditions and help you make the best decision for you and your family.

Posted in Buyers, Downpayment, First Time Home Buyers, Move-Up Buyers, Sellers

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