All Blog Entries by Marjorie Dick Stuart

Some Highlights:

• 36% of Americans think they need a 20% down payment to buy a home.
• 44% of Millennials who purchased a home this year have put down less than 10%.
• 71.8% of loan applications were approved last month.
• The average credit score of approved loans was 731 in September.

Thinking about buying or selling? You probably have questions. CLICK the link below for a free, confidential 17 minute conversation... LET'S TALK! 

There has been a lot of talk about the falling homeownership rate in the United States. In December 2004, the homeownership rate reached an all-time high of 69.4%, while the current rate is 62.9%. When comparing these two figures, there is some room for concern regarding the difference.

However, today we want to shine some light on the issue by:

1. Showing what historic homeownership rates have looked like over the last 130 years.
2. Breaking down the current percentages by state.

Historic Homeownership Rates:

Current Homeownership Rates by State:

All of the states that you see in blue on the map above have a greater homeownership rate than the national average.

Bottom Line

Though the homeownership rate has fallen

So you made an offer, it was accepted, and now your next task is to have the home inspected prior to closing. More often than not, your agent may have made your offer contingent on a clean home inspection.

This contingency allows you to renegotiate the price paid for the home, ask the sellers to cover repairs, or even, in some cases, 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. Realtor.com suggests that you consider the following 5 areas when choosing the right home inspector for you:

1. Qualifications – find out what’s included in your

The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.

The updated numbers actually show that the range is an average of 17.4% less expensive in Honolulu (HI), all the way up to 53.2% less expensive in Miami & West Palm Beach (FL), and 37.7% nationwide!

Other interesting findings in the report include:

• Interest rates have remained low, and even though home prices have appreciated around the country, they haven’t greatly outpaced rental appreciation.
• Home prices would have to appreciate by a range of over 23% in Honolulu (HI), up to over 45% in Ventura County (CA), to reach the

The National Association of Realtors (NAR) recently released their latest Existing Home Sales Reportrevealing that distressed property sales accounted for 4% of sales in September. This is down from 7% in 2015, and is the lowest figure since NAR began tracking distressed sales in October 2008.

Below is a graph that shows just how far the market has come since January 2012 when distressed sales accounted for 35% of all sales.

Existing Home Sales Hit 2nd Highest Figure Since June 

Mortgage interest rates remained well below 4% in September at 3.46%, prompting existing home sales to stay at a healthy annual pace of 5.47 million. Month-over-month sales were up 3.2%.

Inventory of homes for sale remains below the 6-month supply that is

Looking for your next home? SEARCH HERE!

How much is your house worth? FIND OUT HERE!

Recently, I asked you to send me your questions about buying and selling real estate. Ale asked about the pros and cons of selling your current house before buying the next one. He also asked about doing a rent-back.

First of all, if you have a house and want to buy another one, selling your current home first is a great way to go. You’ll have time to clean up your house and put it on the market. Plus, once your home sells, you will have enough money in your pocket to purchase another home. Since you are all ready to go, purchasing your next home will go a lot smoother.

Although it is more difficult to buy a new home before selling your current one,

Please stop by...OPEN 1-4pm Sunday, October 23rd

3031 Macomb Street NW, Washington, DC 20008

Historic Sherman cottage built in 1909. 4 bedrooms, 4 1/2 baths with wraparound front porch. Entry foyer, living room with fireplace, formal dining room & expanded kitchen with skylights. Patio, separate pool house with "endless pool" & 2 car parking. Located on the corner of Macomb and Ross Place in the heart of the Cleveland Park.

Visit www.3031Macomb.com for architectural photos and color floor plan.

Please stop by...OPEN 1-4pm Saturday, October 22nd

3850 Rodman Street, Washington, DC 20016

Luxurious updated 2 Bedroom/loft. Lives like a treehouse, on the main level you will find a huge master bedroom with dressing area, oversized full bathroom, large living room, dining area & kitchen with window. Upstairs is flexible space, could be a bedroom plus den, high cathedral ceiling, 3 skylights, great bedroom closet, fan window & lots of extra storage. Hardwood floors throughout, central A/C, designer shutters on windows & skylights. Unlike anything you've seen at McLean Gardens. 1 dog, 2 cats, or 1 dog plus 1 cat permitted.

Amazing location, public dog park, tennis court, playgrounds, restaurants & shops, Giant, CVS, community garden, parkland

Thinking about buying or selling? You probably have questions. CLICK the link below for a free, confidential 17 minute conversation... LET'S TALK! 

Recently there has been a lot of talk about home prices and if they are accelerating too quickly. In some areas of the country, seller supply (homes for sale) cannot keep up with the number of buyers out looking for a home, which has caused prices to rise.

The great news about rising prices, however, is that according to CoreLogic’s latest US Economic Outlook, the average American household gained over $11,000 in equity over the course of the last year, largely due to home value increases.

The map below was created from CoreLogic’s report and shows the average equity gain per mortgaged home from June 2015 to June 2016 (the latest data available).

For those that are worried that we are doomed to repeat 2006 all over again, it is important