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Berkshire Hathaway HomeServices has been named a finalist in the prestigious American Business Awards The SteviesTM competition. The network will receive a Gold, Silver or Bronze Stevie for Company of the Year, Real Estate category. Awards will be presented June 22 at a ceremony in Chicago! |
National Homeownership Month actually started as a week-long celebration of homeownership during the Clinton administration in 1995. In 2002, President George W. Bush proclaimed June as the National Homeownership Month. Here is an excerpt from his proclamation:
“Homeownership is an important part of the American Dream…A home provides shelter and a safe place where families can prosper and children can thrive. For many Americans, their home is an important financial investment, and it can be a source of great personal pride and an important part of community stability.”
“Homeownership encourages personal responsibility and the values necessary for strong families. Where homeownership flourishes, neighborhoods are more stable, residents are more civic-minded, schools are better, and crime rates decline.”
“During National Homeownership Month, I encourage all Americans to learn more about financial management and to explore homeownership opportunities in their communities. By taking this important step, individuals and families help safeguard their financial futures and contribute to the strength of our Nation.”
Homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage throughout the 100 largest metro areas in the United States.
The updated numbers actually show that the range is from an average of 16% in Honolulu (HI), all the way to 55% in Sarasota (FL), and 35% Nationwide!
Buying a home makes sense socially and financially. Rents are predicted to increase substantially in the next year, so lock in your housing cost with a mortgage payment now.
Signaling for many the unofficial beginning of summer, Memorial Day is a popular weekend for jetting off somewhere near or far for a mini-getaway. From Cape Cod to Hawaii, we’ve put together 10 of the most popular US destinations for the long weekend.
Last month, we reported that billionaire John Paulson believes in the financial advantages of homeownership. He has often repeated:
"I think, from an individual perspective, the best deal investment you can make is to buy a primary residence that you're the owner-occupier of.”
However, he has not been the only billionaire to give such advice. As a matter of fact, that same advice has been given by people of wealth throughout the history of our nation.
Here is a quote often attributed to Theodore Roosevelt, 26th President of the United States and billionaire real estate developer:
“Every person who invests in well-selected real estate … adopts the surest and safest method of becoming independent, for real estate is the basis of wealth.”
Andrew Carnegie, one of the richest entrepreneurs in American history said:
“90% of all millionaires became so through owning real estate.”
If the same advice has been given by the wealthiest people in each era of our country’s history, perhaps we should take it.
Billionaire money manager John Paulson was interviewed at the Delivering Alpha Conference presented by CNBC and Institutional Investor. During his session he boldly stated:
"I still think, from an individual perspective, the best deal investment you can make is to buy a primary residence that you're the owner-occupier of."Paulson is the person who, back in 2005 & 2006, made a fortune betting that the subprime mortgage mess would cause the real estate market to collapse. He understands how the housing market works and knows when to buy and when to sell.
Paulson breaks down the math of homeownership as an investment:
"Today financing costs are extraordinarily low. You can get a 30-year mortgage somewhere around 4.5 percent. And if you put down, let's say, 10 percent and the house is up 5 percent, which is the latest data, then you would be up 50 percent on your investment."
How many are seeing a 50% return on a cash investment right now?
Paulson goes on to compare the long term financial benefits of owning verses renting:
Surfinia 'Summer Double Rose'
There’s nothing shy about this fuchsia-pink, doubled petunia. It’s a trailer with good resistance to wind, rain and humidity. See more flower to grow your garden this spring!
The April 2015 U.S. Economic & Housing Market Outlook from Freddie Mac revealed that they are optimistic about the real estate market in 2015. As a matter of fact, the sub-title of the report was “Great Expectations”.
What made Freddie Mac so optimistic? Here are a few highlights from the report:
Last week, we reported on the financial reasons purchasing a home in today’s market makes sense. The Joint Center for Housing Studies at Harvard University performs a study every year surveying participants for the reasons that American’s feel are most important in regards to homeownership.
The top 4 reasons to own a home cited by respondents were not financial.
From the best neighborhoods to the best school districts, even those without children at the time of purchasing their home, may have this in the back of their mind as a major reason for choosing the location of the home that they purchase.
It is no surprise that having a place to call home with all that means in comfort and security is the #2 reason.
Whether your family is expanding, or an older family member is moving in, having a home that fits your needs is a close third on the list.
Looking to actually try one of those complicated wall treatments that you saw on Pinterest? Want to finally adopt that puppy or kitten you’ve seen online 100 times? Who’s to say that you can’t in your own home?
The 5th reason on the list, is the #1 financial reason to buy a home as seen by respondents:
Either way you are paying a mortgage. Why not lock in your housing expense now with an investment that will build equity that you can borrow against in the future?
Whether you are a first time homebuyer or a move-up buyer who wants to start a new chapter in their life, now is a great time to reflect on the intangible factors that make a house a home.
Three major drives of home prices seem to support current and rising home price levels.
Every seller wants to get the best price for their house. We learned in high school that the best price for any item will be determined by the demand for that item relative to the supply of that item.
We have reported that the inventory of houses for sale is well below normal numbers.
There is historical evidence that the demand for housing is about to increase dramatically. Each year, more homes sell in May, June, July and August than any other four months of the year. Here is a graph of home sales last year by month:
