RIS Media sites Seattle #6 in their Report: America's Boom Towns Revealed.This is what they say about Seattle:6. 98121 Seattle - Larges Neighborhood: BelltownThe 98121 zip code is home to the
Jan 11 2016 11085 1
National Real Estate Market Primed for Expansion in 2016
Despite existing-home sales dropping last November, the National Real Estate Market is primed for expansion in 2016. Here's why:
Better weather in many parts of the country resulted in an increase in single-family and multifamily home construction. Also, the population of millennial
Millennial Home Buyers
The low demand in November meant that first-time home buyers had only a 30 percent share in demand, which is slightly down from 31 percent in October and last year. However, in 2016 home sellers saw an increase of first-time home buyers enter the housing market because of the growing segment of
The Federal Reserve raised short-term interest rates this month. Freddie Mac reported that the average commitment rate for a 30-year, conventional, fixed rate mortgage stayed below 4 percent, but rose from 3.80 percent to 3.94 percent in November. Mortgage rates are expected to rise to 4.50 percent by the end of 2016, but this rate is still historically low; a full percentage point below the rate during the recession of 2008.
Mortgage Lenders & Home Buyers
Fannie Mae's fourth quarter 2015 Mortgage Lender Sentiment Survey™ shows that lenders expect to ease mortgage credit standards for GSE-eligible loans and government loans over the next three months. This should reduce the affordability problem for first-time home buyers. As a result, this will help young adult
In 2016, the first-time home buyer will have mortgage credit options available that were not available during the housing down-turn. First-time home buyers will have low-and no-down-payment mortgage loans available to them. Some loan options available include FHA loans and the conventional 97 percent program offered by Fannie Mae. Qualifying first-time home buyers need only to put 3 percent down on a home.
According to the Mortgage Bankers Association weekly survey, the Refinance Index increased 11 percent compared to the previous week. So it appears homeowners have anticipated the Federal Reserve's increase in interest rates. If you're a homeowner with an adjustable-rate mortgage or a variable home equity line of credit, you should expect your rates to rise in 2016. The first part of 2016 will be a good time to refinance. Home equity lines of credit (HELOC) are both fixed and variable. Variable HELOCs are tied to the Federal Reserve prime rate. Whereas fixed HELOCs are not. By refinancing early in 2016, you'll afford any major life events that may
The National Real Estate Market is on its way to expanding. The Federal Reserve raising interest rates indicates optimism in the housing market and the economy as a whole. The 2016 housing market will remain a seller's market that should see an increase in first-time home buyers entering the market because of the strong desire of home ownership by
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