Congratulations to our buyers! We’re so happy that we could help you find the home of your dreams.🏡
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UNDER CONTRACT in 1 DAY! 17 Stonehedge Way, North Granby, CT
Congratulations to our sellers! "Charming ranch home in great condition. Hardwood floors, updated kitchen with granite, stainless steel appliances, white cabinets." View ore photos and info of this gorgeous property here: https://17stonehedge.thebestlisting.com/ #UnderContract #HappySellers #SellingCT #SimardRealtyGroup #RealBrokerLLC Some Highlights
#RentVCBuy #Infographics #Buyers #SimardRealtyGroup As vaccines are administered and travel resumes, many of us are beginning to plan for those long-awaited vacations we missed out on over the past year. Some households are focusing their efforts on buying a vacation home rather than staying in a hotel, too. The National Association of Home Builders (NAHB) reports:
“Second homes (i.e., homes sold to buyers who are not going to occupy the home year-round, but use it as a vacation home, investment property, etc.) account for 15 percent of new single-family home sales.” It’s not surprising that there’s an increase in demand for vacation homes. The majority of Americans are realizing they prefer to be around small groups, as shown in a recent survey from The Harris Poll: “Social distancing taught consumers new things about how they like to socialize; (75%) said, ‘during COVID social distancing I realized I preferred smaller social gatherings at home or at friends’ place.’” Not only are vacation homes seen as a potentially more pandemic-friendly way to travel and socialize, but they can also serve as an extended home-away-from-home. With more Americans being given the option to continue working remotely or retire earlier than expected, vacation homes can be used year-round. The NAHB explains: “Remote work arrangements have made it possible for some wealthier Americans to move to alternate locations that are not just small, suburban shifts from within their current metro area. More fundamentally, second home demand may also be benefitting by an acceleration of retirement plans, as well as stock market gains.” Bottom Line The demand for vacation homes has increased and will continue to rise as we head into summer. If you own a house in a destination area and have thought about selling, now is a great time to take advantage of today’s high buyer interest. Contact a real estate professional to discuss the opportunities in your local market. SOURCE KCM #LuxuryMarket #HousingMarketUpdate #SimardRealtyGroup #RealBrokerLLC
Owning a home can have an incredible impact on your quality of life. Let's connect if you're ready to make your dream of homeownership a reality.
#TopGranbyRealtor #StephenSimard #RealBrokerLLC #GranbyRealEstate #GranbyConnecticut #FindyourGranbyhome #Newhomesforsale #SimardRealtyGroup #Granbyhomesforsale #JoinRealBrokerLLC #Simsburyhomes 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: The survey also shows a wide range of reasons why Americans feel that way (respondents were able to pick more than one answer): Bottom Line
The data show how strongly Americans believe in homeownership as an investment. That belief is warranted. The Liberty Street Economics blog put it best by saying: “Housing represents the largest asset owned by most households and is a major means of wealth accumulation, particularly for the middle class.” SOURCE KCM #RentVSBuy #ForSellers #ForBuyers #SimardRealtyGroup #RealBrokerLLC As Americans get vaccinated, more parts of our lives are returning to normal. If you’ve been delaying your plans in the housing market because of the pandemic, this is a great time to revisit those dreams. DM me with your questions today to take the first step toward your goals.
#expertanswers #realestate #homevalues #homeownership #homebuying #realestategoals #realestateagency #realestateadvice #realestatemarket #realestateexperts #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #keepingcurrentmatters Over the past year, we’ve had plenty of opportunities to reflect on what we consider most important in our lives. The place we call home is one of the biggest things many of us are reevaluating. George Ratiu, Senior Economist at realtor.com, shares:
“The very nature of the pandemic, through the health implications, social distancing, and need to isolate, has really brought a central focus on the importance of home for most Americans…In a sense, it has elevated real estate markets as a centerpiece of our lives.” For some, this has spurred an interest in making a move to a home that better suits our changing needs. In a recent study on today’s homebuyer preferences, the National Association of Home Builders (NAHB) states: “When asked more specifically how the pandemic may have impacted their preference for home size…21% or about 1 out of every 5 buyers, do want a larger home now as a direct result of the health crisis, while another segment – 12% – would prefer a smaller one instead.” While you might expect more time at home to lead to a need for more space, it’s interesting that a significant portion of homeowners actually want less. For those who own larger homes right now and have a desire to move, today’s housing market is full of opportunities. Danielle Hale, Chief Economist at realtor.com, explains: “In a real estate market that is tipped in the favor of sellers, boomers and older homeowners are really the ones holding the cards…Those who are selling homes can use the profits to help them buy new ones.” As a homeowner today, you likely have equity that can be put toward the purchase of your next home. With the equity growth homes have seen over the past year, you may have more than you think, which can help significantly as you make a move into your next home. According to a report from the National Association of Realtors (NAR): “Home sellers cited that they sold their homes for a median of $66,000 more than they purchased it. Sellers 22 to 30 years gained the least at $33,400 in equity compared to sellers 66 to 74 years gained $100,000 in equity as they likely had lived in their homes for a longer period of time.” Despite the benefits of growing home equity, some homeowners are still hesitant to move and could be considering remodeling or making changes to their current space instead. However, if you’ve thought about aging in place rather than downsizing, you may want to reconsider. The U.S. Census Bureau points out: “Of the nation’s 115 million housing units, only 10% are ready to accommodate older populations.” If your house is no longer the best fit for your evolving needs, it may be time to put your equity to work for you and downsize to the home you really want. Bottom Line Today’s housing market favors homeowners who are ready to sell their houses and make a move. If you’re thinking about downsizing this year, contact a real estate professional to better understand the options in your local market. SOURCE KCM #ForBuyers #ForSellers #SimardRealtyGroup #joinRealBrokerLLC The past year has been full of change and the opportunity to learn new things about ourselves and our homes. For three in four Americans, this includes the discovery that they actually prefer hosting friends at their home over going out. DM me today if you’re ready to find the home that can be the perfect space for your new lifestyle and goals.
#realestate #homeownership #theharrispoll #homebuying #realestategoals #realestatetips #realestateadvice #realestatemarket #realestateexperts #realestateagents #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #keepingcurrentmatters There has been a lot of discussion as to what will happen once the 2.3 million households currently in forbearance no longer have the protection of the program. Some assume there could potentially be millions of foreclosures ready to hit the market. However, there are four reasons that won’t happen.
1. Almost 50% Leave Forbearance Already Caught Up on Payments According to the Mortgage Bankers Association (MBA), data through March 28 show that 48.9% of homeowners who have already left the program were current on their mortgage payments when they exited.
2. The Banks Don’t Want the Houses Back Banks have learned lessons from the crash of 2008. Lending institutions don’t want the headaches of managing foreclosed properties. This time, they’re working with homeowners to help them stay in their homes. As an example, about 50% of all mortgages are backed by the Federal Housing Finance Agency (FHFA). In 2008, the FHFA offered 208,000 homeowners some form of Home Retention Action, which are options offered to a borrower who has the financial ability to enter a workout option and wants to stay in their home. Home retention options include temporary forbearances, repayment plans, loan modifications, or partial loan deferrals. These helped delinquent borrowers stay in their homes. Over the past year, the FHFA has offered that same protection to over one million homeowners. Today, almost all lending institutions are working with their borrowers. The report from the MBA reveals that of those homeowners who have left forbearance,
3. There Is No Political Will to Foreclose on These Households The government also seems determined not to let individuals or families lose their homes. Bloomberg recently reported: “Mortgage companies could face penalties if they don’t take steps to prevent a deluge of foreclosures that threatens to hit the housing market later this year, a U.S. regulator said. The Consumer Financial Protection Bureau (CFPB) warning is tied to forbearance relief that’s allowed millions of borrowers to delay their mortgage payments due to the pandemic…mortgage servicers should start reaching out to affected homeowners now to advise them on ways they can modify their loans.” The CFPB is proposing a new set of guidelines to ensure people will be able to retain their homes. Here are the major points in the proposal:
4. If All Else Fails, Homeowners Will Sell Their Homes Before a Foreclosure Homeowners have record levels of equity today. According to the latest CoreLogic Home Equity Report, the average equity of mortgaged homes is currently $204,000. In addition, 38% of homes do not have a mortgage, so the level of equity available to today’s homeowners is significant. Just like the banks, homeowners learned a lesson from the housing crash too. “In the same way that grandparents and great grandparents were shaped by the Great Depression, much of the public today remembers the 2006 mortgage meltdown and the foreclosures, unemployment, and bank failures it created. No one with any sense wants to repeat that experience…and it may explain why so much real estate equity remains mortgage-free.” What does that mean to the forbearance situation? According to Black Knight: “Just one in ten homeowners in forbearance has less than 10% equity in their home, typically the minimum necessary to be able to sell through traditional real estate channels to avoid foreclosure.” Bottom Line The reports of massive foreclosures about to come to the market are highly exaggerated. As Ivy Zelman, Chief Executive Officer of Zelman & Associates with roughly 30 years of experience covering housing and housing-related industries, recently proclaimed: “The likelihood of us having a foreclosure crisis again is about zero percent.” SOURCE KCM #DistresseProperties #ForeClosures #SimardRealtyGroup #RealBrokerLLC |
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