Real Estate in Northern Ohio
Brett Young

America’s Views on Owning a Home..

Investors and Home buyers are always looking at what the other people are thinking about buying a home.  I found this study from by Brian Honea that talks about how many people are looking at buying their home.

“Wells Fargo’s third annual “How America Views Homeownership
survey found that 93 percent of those polled believe homeownership is
an achievement to be proud of, 86 percent say owning a home is a dream
come true, and 74 percent of respondents said they believe now is a good
time to buy a home.”
The big part of the potential buyers that are out there say that they want to buy a home and think they can.  93% is a huge number of people to have as potential buyers. 74% think that now is a great time to buy.  I agree especially with the interest rates that are available today, that alone is worth money. The market still understands that buying a home can be the best part of building you wealth.
” As for the growing sentiment in the mortgage industry that millennials
are not interested in homeownership, the survey results seem to indicate
the contrary. According to the survey, 40 percent of respondents
between the ages of 18 and 34 said they “definitely will” or “probably
will” buy a home in the next two years, which was nearly double the
percentage of the general population (22 percent) that plans to become
homeowners over the same period.”
When the millennials start buying homes at 70%-80% there may not be enough inventory to sell them.  As I have mentioned in other blog post before my two largest sells this year were millennials that did not want to rent and had saved a ton of money for a down payment. They were very good buyers, that knew exactly what type of home they wanted to buy. That will be the future market.  The millennials also do not like fixer uppers, they want totally rehabbed homes or new construction.
Looking at this market and the future market is key to knowing when to purchase a home.  I consider every home buyer an investor, because most home owners make a a lot of money when they do sale their homes. Buying a home is one thing, getting a great property is another.
The other factor to consider, is with all the regulations and paperwork that you have to go through to buy a home, the housing market is still strong.  They are starting to ease the regulations and that will really help drive a stronger real estate market.  They will never go back to the 2004-2005 financing as will they shouldn’t, but they can get more reasonable about the loan process.  That will also help drive more buyers into an already very tight inventory market.
Get your american dream home today with us. We offer all the services you need to help you choose the right home for your portfolio or a place to call home. Call Brett 216-703-5740 Howard Hanna Ohio and 602-363-6551 West USA Realty Arizona.

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