Posts made by author 'Carol Solis'
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- 2024 | 5 Posts
- 2023 | 37 Posts
- 2022 | 43 Posts
- 2021 | 31 Posts
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- 2018 | 22 Posts
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18
Time For Your Dream Home, Gen X!
During the housing market crash, Gen X homeowners lost more wealth than other generations. However, things are changing now! A strong economy, increasing home prices, and the recovery of the housing market are helping this generation to regain their lost wealth.
According to Pew Research Center,
"Their fortunes have rebounded more than those of other generations during the post-recession economic expansion and as home and stock prices have risen. Since 2010, the median net worth of Gen X households has risen 115%. In fact, in 2016, the most recent year with available data, the net worth of a typical Gen X household had surpassed what it was in 2007 ($84,200 vs. $63,400)".
7
2 Trends Helping Keep Housing Affordable
Two positive trends have started to emerge that impact the 2019 Spring Housing Market, nationwide. Mortgage interest rates for a 30-year fixed rate loan have dropped to new lows, right as reports show that wages have increased at their highest rate in decades!
These two factors have helped keep housing affordable despite low supply of houses for sale driving up prices. First American's Chief Economist, Mark Fleming, explains the impact,
"Ongoing supply shortages remain the main driver of the performance gap as the housing marke...
5
Charlottesville Area Association of REALTORS® releases 2019 1st Quarter Housing Market Report
First Published by Charlottesville Area Association of REALTORS® and Virginia REALTORS®, May 1 2019
According to the Charlottesville Area Association of REALTORS®, Charlottesville-area home sales dropped during the first three months of 2019, but at the same time, home prices increased slightly and the number of homes on the market remained about the same. The graphic on the right represents the Percent change compares to 2018 1st Quarter statistics.
Economic Conditions
• Notwithstanding a modest employment decline in the most recent months of data, the Charlottesville regional economy is stable and provides a steady bedrock for the local hou...
23
Congratulations to our 2019 1st Quarter Top Producers!
Congratulations to our 2019 1st Quarter Top Producers!
13
Home Ownership Is Still an Important Part of the American Dream
Studies have shown, the vast majority of Americans believe that homeownership is an important part of their American Dream. The benefits of homeownership are both financial and non-financial reasons (emotional/social).
As an added bonus, for Americans approaching retirement age, one of the greatest benefits to homeownership is the added net worth they have been able to achieve simply by paying their mortgage!
The Joint Center for Housing Studies at Harvard University focused on homeowners and renters over the age of 65. Their study revealed that the difference in net worth between homeowners and renters at this age group was actually 47.5 times greater, with nearly half their net worth coming from home equity!
