Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Sept. 21, 2018

Grow your business

Grow your business Is it time for another business location?

Expand your business with the help of MaxReal!

We can help you lock in the perfect commercial property for your next location.

Click here to learn more about it.

Posted in Advantage
Sept. 20, 2018

Did you know?

Did you know? The average U.S. home buyer is looking for a 3-bedroom, 2-bathroom home with a garage and updated kitchen.

Posted in Advantage
Sept. 19, 2018

By 2040, 32% of American homeowners will be 65 or older

It’s estimated that by 2040, 32% of American homeowners will be 65 or older.

Posted in Advantage
Sept. 18, 2018

Today's tip: Open houses can be a source of quality feedback

Posted in Advantage
Sept. 17, 2018

Credit Scores

Credit Scores are an important part of every mortgage loan application. A credit score is a numerical representation of a borrower’s past credit history. The scores run from 350 up to 850 with the higher the score being better. Many lenders have a minimum credit score of 620, though this can vary between lenders. 

Many items go into the composition of the credit score. Among these are past credit history, credit utilization, types of accounts, and length of time accounts have been in open. Strong credit history, along with limited usage, accounts which are not open ended (installment), length of time since last late payment, and credit accounts being opened greater than one year will usually result in a strong credit score. 

While credit score is not the only consideration for a mortgage loan application, it is one of the most important. The best way for a borrower to have a strong credit score is to pay all creditors on time every month. If considering a home purchase, it is wise for a borrower to be in touch with a professional loan officer who can provide information on credit scoring and pull credit information. 

If the credit score is below what it should be for the type of loan being applied for, a professional loan officer can direct the borrower to seek advice from a credit specialist with a credit bureau. While a mortgage company or loan officer is not a credit reporting agency and cannot change credit scores, a professional loan officer can refer the borrower to the credit reporting company that can assist. 

Credit scores like many other aspects is a complex and fast-changing topic. Please contact your agent at MaxReal for more information on this topic as well as others that affect the application process.

Posted in Knowledge
Sept. 14, 2018

Peace of mind

Buying a new home can be stressful, but our team of real estate agents can provide you with safety, security, and peace of mind throughout the entire home buying process!

Posted in Advantage
Sept. 13, 2018

The 20 percent downpayment myth

s5_c6186f3adfc4f4a9a0db61fc3f933942Think that you need a 20 percent downpayment to purchase a home?

Many prospective home buyers buy into this myth, studies show. Yet research shows that among those who take out a mortgage to purchase a home, the median downpayment is about 10 percent.

For first-time home buyers (comprising more than one third of all home buyers), the downpayment is typically lower, in the 5 percent range, while repeat buyers typically make a downpayment of around 14 percent, according to National Association of Realtors’ data.

In all, 88 percent of home buyers finance their home purchases. Some other home financing facts:

  • For 59 percent of home buyers, the source of their downpayment is wholly or partially their personal savings. Thirty-eight percent of home buyers use all or part of the proceeds from the sale of a primary residence, contributing to the larger downpayment for repeat buyers.
  • For 13 percent of buyers, the most difficult step in the home buying process is saving for a downpayment. Of those buyers, nearly half say that student loans made saving for a downpayment more challenging. Forty-two percent cite credit card debt as being their primary challenge; 37 percent cite car loans.
  • Of all home buyers surveyed, 65 percent are married couples, 18 percent are single females, 7 percent are single males, and 8 percent are unmarried couples.

Are you ready to purchase a home? We’re here to help you get started!

Posted in Knowledge
Sept. 12, 2018

The fall home buying and selling season starts soon

When it comes to real estate, the summer home-buying season is the busiest, with many families wanting to be settled in their new homes before school starts. This year, however, home buying and selling activity is expected to remain strong through the last quarter of the year.

If you’re thinking of selling your home in late summer or early fall, know that there likely will be a smaller group of potential buyers than there were in June and July. However, those purchasing homes in the fall are often more serious, which can more than make up for the paucity of potential buyers.

Before you put your home on the market, make sure your property is clean and tidy. If you have trees that lose their leaves, keep up with the raking. Ideally, there will be no leaves on the ground or dead or dormant plants when a prospective buyer comes by. If it’s still warm enough to use patio furniture, make sure they are still in good condition and clean. Another option would be to put any outdoor items in storage.

If you have already moved out of your home, make sure you keep your thermostat at a pleasant temperature. No one wants to be too hot or too cold while touring a home. Also, make sure your home has adequate lighting and if your home is shown in the late afternoon or evening that lights are used. Timers are an easy solution.

Lastly, keep seasonal decorations to a minimum. A bit of fall decor here and there is fine, but avoid 20 pumpkins by your front door or a Halloween skeleton hanging from the front porch.

Posted in Advantage
Sept. 10, 2018

Are you a first-time homebuyer?

Start your search for the perfect home with us.

https_specials-images.forbesimg.comdamimageserve1100730092960x0 Answer These 5 Questions Before Buying Your First Home
Posted in Advantage
July 31, 2017

Curious About Local Real Estate?

Receive the Latest Local Market Stats

Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

Get Local Market Reports Sent Directly to You

You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates