Pony 4 Precious: Where Compassion Meets Connection for a Life-Changing Experience

Rising home prices have been in the news a lot lately, and much of the focus is on whether they’re accelerating too quickly and how sustainable the growth in prices really is. Mike Eastwood Chief Executive Officer of West USA Realty of Prescott states. One of the often-overlooked benefits of rising prices, however, is the impact they have on a homeowner’s equity position. Home equity is defined as the difference between a home’s fair market value and the outstanding balance of all liens on the property. While homeowners pay down their mortgages, the amount of equity they have in their homes climbs each time the value increases. Today, the number of homeowners that currently have significant equity in their homes is growing. According to the  Census Bureau , 38% of all homes in the country are mortgage-free.  In a  home equity study ,  ATTOM Data Solutions  revealed that of the 54.5 million homes with a mortgage, 26.7% of them have at least 50% equity. That ...

The number of building permits issued for single-family homes is the best indicator of how many newly built homes will begin to come to market over the next few months. According to the latest  U.S. Census Bureau  and  U.S. Department of Housing & Urban Development  Residential Construction Report ,  the number of building permits issued in January was 1,551,000. This is a 9.2% increase from December states Mike Eastwood Chief Executive Officer of West USA Realty of Prescott. How will this impact buyers? New inventory means more options.  Lawrence Yun,  Chief Economist  at the  National Association of Realtors  (NAR),   explained  how this is good news for the housing market – especially for those looking to buy: “More construction will mean more housing inventory for consumers in the later months of this year…Spring months could still be quite tough for buyers since it takes time to convert housing starts into...

Spring is right around the corner, so flowers are starting to bloom, and many potential homebuyers are getting ready to step into the market states Mike Eastwood Chief Executive Officer of West USA Realty of Prescott. If you’re thinking of buying this season, here’s how mortgage interest rates are working in your favor. Freddie Mac   explains : “ If you’re in the market to buy a home, today’s average mortgage rates are something to celebrate compared to almost any year since 1971… Mortgage rates change frequently. Over the last 45 years, they have ranged from a high of 18.63% (1981) to a low of 3.31% (2012). While it’s not likely that the average 30-year fixed mortgage rate will return to its record low, the current average rate of 3.45% is pretty close — all to your advantage .” To put this in perspective, the following chart from the same article shows how average mortgage rates by decade have impacted the approximate monthly payment of a $200,000 home over time: Clear...

Mike Eastwood Chief Executive Officer of West USA Realty of Prescott states. Unlike last year, the residential real estate market kicked off 2020 with a bang! In their latest  Monthly Mortgage Monitor ,  Black Knight  proclaimed: “The housing market is heating entering 2020 and recent rate declines could continue that trend, a sharp contrast to the strong cooling that was seen at this same time last year.” Zillow   revealed  they’re also seeing a robust beginning to the year. Jeff Tucker,  Zillow Economist,  said: “Our first look at 2020 data suggests that we could see the most competitive home shopping season in years, as buyers are already competing over…homes for sale.” Buying demand is very strong. The latest  Showing Index  from  ShowingTime  reported a 20.2% year-over-year increase in purchaser traffic across the country, the sixth consecutive month of nationwide growth, and the largest increase in the history of ...

If you’re looking to buy a home in 2020, have you thought about putting your tax refund toward a down payment states Mike Eastwood Chief Executive Officer of West USA Realty of Prescott?? Homeownership may be one step closer than you think if you spend your dollars wisely this year. Based on data released by the  Internal Revenue Service  (IRS), Americans can expect an estimated average refund of  $2,962  when filing their taxes this year. The map below  shows  the average tax refund Americans received last year by state: According to programs from the  Federal Housing Authority, Freddie Mac,  and  Fannie Mae,  many first-time buyers can purchase a home with as little as 3% down. Truth be told, a 20%  down payment  is not always required to buy a home, even though that’s a common misconception about homebuying.  Veterans Affairs Loans  allowing many  veterans  to purchase a...

Earlier this month, the  National Association of Realtors  (NAR) released a special study titled  Single-Family Home Price Gains by Years of Tenure . The study estimates median home price appreciation over the last 30 years based on the length of homeownership. Below are three graphs depicting the most important data revealed in the study. How much have home prices increased? One of the first measures of the financial benefits of homeownership is the net worth (in the form of equity) an owner can build over time. The study showed the average increase in home values based on how long homeowners stayed in a home. What was the percentage of appreciation? Another way to look at this is by the percentage increase in value over time, called appreciation: Was this appreciation consistent throughout the country? Today, when we think of markets that have done well over the last decade, we have a tendency to think about San Francisco, San Diego, Seattle, and other We...

The housing market has started off much stronger this year than it did last year states Mike Eastwood Chief Executive Officer of West USA Realty of Prescott talks about.  Lower mortgage interest rates  have been a driving factor in that change. The average 30-year rate in 2019, according to  Freddie Mac,  was 3.94%. Today that rate is closer to 3.5%. The  Census Bureau  also just  reported  the  highest homeownership rate  since 2014 for people under 35. This is evidence that owning their own home is becoming more important to Millennials as they reach the age where marriage and children are part of their lives. According to the latest  Realtors Confidence Index Survey  from the  National Association of Realtors  (NAR),  buyer demand across the country is strong . That’s not the case, however, with seller demand, which remains weak throughout most of the nation. Here’s a breakdown by state: Demand for housin...

Homes priced in the top 25% of a price range for a particular area of the country are considered “premium homes states Mike Eastwood Chief Executive Officer at West USA Realty of Prescott.” At the start of last year, many of the more expensive homes listed for sale hadn’t seen as much interest, since much of the demand for housing over the past few years has come from first-time buyers looking for starter homes. It looks like buyer activity, however, it is starting to show a shift in this segment. According to the January Luxury Report from the Institute for Luxury Home Marketing (ILHM): “In a snapshot of 2019, despite pessimism at the start of the year, the last quarter showcased a strengthening, with an upswing in the luxury market for sales in both the single-family and condo markets.” Momentum is growing, and those looking to enter the luxury market are poised for success in 2020 as well. With more inventory available at the upper-end, historically...