Charlotte NC Real Estate Blog by Brian Johnston, Realtor

How to Make $80K Without Lifting A Finger

HOW TO MAKE $80K WITHOUT LIFTING A FINGER

82,338 Great Reasons to Buy a Home Today | MyKCM

The financial benefits of buying a home as compared to renting one are always up for debate. However, one element of the equation is often ignored – the ability to build wealth as a homeowner.

Most experts are calling for home prices to continue appreciating over the next several years. The most recent Home Price Expectation Survey, a survey of over one hundred economists, real estate experts, and investment and market strategists, expects home appreciation to increase as follows:

  • 2021: 6%
  • 2022: 4.5%
  • 2023: 4%
  • 2024: 3.6%
  • 2025: 3.5%

Using their annual projections, the graph below shows the equity build-up a purchaser could earn, using a $350,000 home as an example:82,338 Great Reasons to Buy a Home Today | MyKCMA homeowner could increase their net worth by over $80,000 in five...

How Much Time Do You Need To Save for a Down Payment?

How Much Time Do You Need To Save for a Down Payment?

How Much Time Do You Need To Save for a Down Payment? | MyKCM

One of the biggest hurdles homebuyers face is saving for a down payment. As you’re budgeting and planning for your home purchase, you’ll want to understand how much you’ll need to put down and how long it will take you to get there. The process may actually move faster than you think.

Using data from the U.S. Department of Housing and Urban Development (HUD) and Apartment List, we can estimate how long it might take someone earning the median income and paying the median rent to save up for a down payment on a median-priced home. Since saving for a down payment can be a great time to practice budgeting for housing costs, this estimate also uses the concept that a household should not pay more than 28% of their total income on monthly housing expenses.

According to the data, the national average for the time it would take to...

VIDEO: How Your Tax Refund and Stimulus Checks Can Help You Buy a House

HOW YOUR TAX REFUND AND STIMULUS CHECKS CAN HELP YOU BUY A HOUSE

Your tax refund and/or stimulus check can help you when it's time to buy a house. Here's how! If you're ready to buy your first home, your tax refund and stimulus savings could help cover more of your down payment than you realize. That's because many first-time buyers can purchase a home with as little as 3% down.

This year, Americans can expect an average refund of $2,925. If you were able to save your Federal stimulus funds, that could push you even further towards your down payment goals. In fact, here in North Carolina those funds represent almost 40% of a 3% down payment on a $300,000 home. Wow!

Curious about how the home buying process works? #StellaTheWonderpig and I would love to answer your questions and help you bring home the bacon!

https://youtu.be/2H71-Dry2V8

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Why Buying a Home is a Better Investments Than Stocks

WHY BUYING A Home Is a Better Investment Than Stocks

93% of Americans Believe a Home Is a Better Investment Than Stocks | MyKCM

A recent Survey of Consumer Finances study released by the Federal Reserve reveals the net worth of homeowners is forty times greater than that of renters. If you’re wondering if homeownership is a good investment, the study clearly answers that question, and the answer is yes.

Do Americans believe a home is a better investment than stocks?

In a post on the Liberty Street Economics blog, the Federal Reserve Bank of New York notes that 93.3% of Americans believe buying a home is definitely or probably a better investment than buying stocks.

Here’s how the results break down:93% of Americans Believe a Home Is a Better Investment Than Stocks | MyKCM...

Don’t Sell on Your Own Just Because It’s a Sellers’ Market

Don’t Sell on Your Own Just Because It’s a Sellers’ Market

Don’t Sell on Your Own Just Because It’s a Sellers’ Market | MyKCM

In a sellers’ market, some homeowners might be tempted to try to sell their house on their own (known as For Sale By Owner, or FSBO) instead of working with a trusted real estate professional. When the inventory of homes for sale is as low as it is today, buyers are eager to snatch up virtually any house that comes to market. This makes it even more tempting to FSBO. As a result, some sellers...

Your Tax Refund Could Be a Down Payment for a Home

Your Tax Refund COULD BE A DOWN PAYMENT FOR A HOME

Your Tax Refund and Stimulus Savings May Help You Achieve Homeownership This Year | MyKCM

If you’re planning to buy a home this year, saving for a down payment is one of the most important steps in the process. One of the best ways to jumpstart your savings is by starting with the help of your tax refund.

Using data from the Internal Revenue Service (IRS), it’s estimated that Americans can expect an average refund of $2,925 when filing their taxes this year. The map below shows the average anticipated tax refund by state:Your Tax Refund and Stimulus Savings May Help You Achieve Homeownership This Year | MyKCMThanks to programs from the Federal Housing Authority, Freddie Mac, and Fannie Mae, many...

Is Homeownership Still Considered Part of the American Dream?

Is Homeownership Still Considered Part of the American Dream?

Is Homeownership Still Considered Part of the American Dream? | MyKCM

Since the birth of our nation, homeownership has always been considered a major piece of the American Dream. As Frederick Peters reports in Forbes:

“The idea of a place of one’s own drives the American story. We became a nation out of a desire to slip the bonds of Europe, which was still in many respects a collection of feudal societies. Old rich families, or the church, owned all the land and, with few exceptions, everyone else was a tenant. The magic of America lay not only in its sense of opportunity, but also in the belief that life could in every way be shaped by the individual. People traveled here not just for religious freedom, but because in America anything seemed possible.”

Additionally, a research paper released just prior to the shelter-in-place orders issued last year concludes:

“Homeownership...

How Do Higher Interest Rates Affect Your Mortgage Payment?

HOW DO HIGHER INTEREST RATES AFFECT YOUR MORTGAGE PAYMENT?

How a Change in Mortgage Rate Impacts Your Homebuying Budget | MyKCM

Mortgage rates are on the rise this year, but they’re still incredibly low compared to the historic average. The thing is, any change in the mortgage rate affects what you can afford to borrow when you’re buying a home. Just ask Sam Khater, Chief Economist at Freddie Mac:

Since January, mortgage rates have increased half a percentage point from historic lows and home prices have risen, leaving potential homebuyers with less purchasing power.” 

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What It Means to be in a Sellers' Market

What It Means To Be in a Sellers’ Market

What It Means To Be in a Sellers’ Market | MyKCM

If you’ve given even a casual thought to selling your house in the near future, this is the time to really think seriously about making a move. Here’s why this season is the ultimate sellers’ market and the optimal time to make sure your house is available for buyers who are looking for homes to purchase.

The latest Existing Home Sales Report from The National Association of Realtors (NAR) shows the inventory of houses for sale is still astonishingly low, sitting at just a 2-month supply at the current sales pace.

Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available...

Expert Insights on the Spring Housing Market

EXPERT INSIGHTS ON THE SPRING HOUSING MARKET

Experts agree the housing market will continue to bloom this spring. Here's what they have to say on the matter.

"Mortgage rates continued to inch up but are still hovering around three percent, keeping interested buyers in the market." - Sam Khater, chief economist at Freddie Mac

"Despite winter weather holding back construction in February, builders are continuing to supply with single-family permits, starts, homes under construction, and completions all growing from one year ago." - Danielle Hale, chief economist at Realtor.com

"I still expect this year's sales to be ahead of last year's, and with more COVID-19 vaccinations being distributed and available to larger shares of the population, the nation is on the cusp of returning to a sense of normalcy." - Lawrence Yun, chief economist at the National Association of Realtors (NAR)

Curious about how the #CharlotteNCrealestate market is looking these days? #StellaTheWonderpig and I would love to discuss it with you and help you bring home the bacon this spring. Give us a squeal today!

https://youtu.be/nTGXpzDMb_0

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