6 Foundational Benefits of Homeownership Today

Over the past year, our homes have become an integral part of our lives more than ever. They're much more than the houses we live in. They're our workplaces, virtual schools, and safe havens that provide shelter, stability, and protection through the evolving health crisis. Today, 65.8% of Americans are fortunate enough to call their homes their own.

As we continue to think about the future, our goals for the year, and what we want to achieve well beyond 2021, its a great time to look at the benefits of owning a home. Below are some highlights and quotes on the benefits of homeownership shared by the National Association of Realtors (NAR). From feel-good motivations to economic and social impacts on the local community, these items may give you reason to believe homeownership stretches well beyond your financial investment.

Non-Financial Benefits

Owning a home brings a sense of happiness, satisfaction, and pride.

• Pride of Ownership: It feels good to have a place that's truly your own, especially since you can customize it to your liking. The personal satisfaction and sense of accomplishment achieved through homeownership can enhance psychological health, happiness and well-being for homeowners and those around them.
• Civic Participation: Homeownership creates stability, a sense of community, and increases civic engagement. Its a way to add to the strength of your local area and drive value into your neighborhood.

Financial Benefits

Buying a home is also an investment in your financial future.

• Net Worth: Homeownership builds your net worth. Today, the median household net worth of all homeowners is $254,900, while the median net worth of renters is only $6,270.
• Financial Security: Equity, appreciation, and more predictable monthly housing expenses are huge financial benefits of owning a home. Homeownership is truly the best way to improve your long-term financial position.

Economic Benefits

Homeownership is even a local economic driver.

• Housing-Related Spending: An economic force throughout our nation, housing-related expenses accounted for more than one-sixth of the country's economic activity over the past three decades.
• Entrepreneurship: Homeownership is also a form of forced savings that can provide entrepreneurial opportunities. Owning a home enables new entrepreneurs to obtain access to credit to start or expand a business and generate new jobs by using their home as collateral for small business loans.

Bottom Line

The benefits of homeownership go well beyond the basics. Homeownership is truly a way to build financial freedom, find greater satisfaction and happiness, and make a substantial impact in your community. If owning a home is part of your dream this year, lets connect so you can begin the homebuying process today.

 

 

Watch for These Signs of Unwelcome Visitors

Having a pest infestation is no fun, but it’s not an uncommon problem for a homeowner to experience, especially in transition times like from fall to winter or from winter into spring. Many pests come indoors seeking warmth from bitter temperatures in the late fall, stow away all winter, and then become active again as spring sets in. Others come indoors and remain active throughout their occupancy. In older homes, especially, it can be tricky to decide if you’ve got a pest problem or just a creaky old house and an active imagination, but it’s easier when you know some of the most common signs of pests.

Common Signs of Household Pests

Because there are armloads of different sorts of pests that can occupy a house at any given time, it’s impossible to list all the signs and symptoms you might notice, but this list should get you started with the most common pest animals in homes.

Staining
Staining on ceilings or walls can be a strong sign that you’ve got an insect colony setting up shop. Often bees, wasps, or even ladybugs will take up residence in voids in wall or attic spaces. If you hear buzzing, do not attempt to exorcise your insect pests without the help of a professional. Mammals and birds can also leave staining, depending on where they’ve built nests.

Scratching Sounds
Rodents love to get into the voids in walls, under cabinets, and in all those dark places in your home. They use these openings like little highways to get safely from their nests to food sources and back. While they’re at it, you may hear them in the walls, scratching, scraping, even gnawing.

Unusual Smells
A lot of pests give off distinctive odors that aren’t normally associated with homes. If you’re shopping for a house and notice a smell that’s “off,” don’t automatically assume it’s full of mold. There may simply be a pest infestation that can be far more easily remedied. The same goes for your own house; if someone mentions a smell you’ve not noticed because you live there all the time, ask for more details to help figure out what’s bugging you.

Holes or Gnaw Marks
Holes and gnaw marks can come from any sort of creature that would nest in your home. You don’t always get staining, depending on where the nest is; sometimes you only get a good view of the front door. Wood-consuming beetles like powderpost beetles, for example, will drill tiny holes in hardwood flooring and other wooden trim pieces. Mice, of course, will also chew through wood and other materials to better facilitate their successful lives in your home.

Nests
If you find an actual nest, or nest material, this is a great sign you’ve got an issue and one you can’t ignore. Rodents tend to chew up paper or other thin materials like plastic bags to create their nests, but waxy secretions might be the sort of nest material you’d find for bees, or leaves, mud, and grasses for birds that often nest in chimneys and attics. Whatever the nesting material, make sure to collect some for further evaluation.

Who You Gonna Call?

Well, first, you should probably touch base with your HomeKeepr community if you see signs of pest infestations in your home. While a homeowner can often handle simple pest control tasks like setting mouse traps, more severe infestations require more skilled experts. Bees, for example, should never be handled by anyone short of an experienced bee keeper or pest control expert because they can be very, very dangerous. Other pests, like bats, are often protected by local and federal laws, so knowing how to handle them is very important.

But don’t worry. Whatever kind of pests you’re dealing with, there’s a pest control expert in your community who can help you handle it. Just look for a recommendation in HomeKeepr and before you know it, you’ll be free of those unwanted squatters.

3 Reasons Were Definitely Not in a Housing Bubble

Home values appreciated by about ten percent in 2020, and they're forecast to appreciate by about five percent this year. This has some voicing concern that we may be in another housing bubble like the one we experienced a little over a decade ago. Here are three reasons why this market is totally different.

1. This time, housing supply is extremely limited

The price of any market item is determined by supply and demand. If supply is high and demand is low, prices normally decrease. If supply is low and demand is high, prices naturally increase.

In real estate, supply and demand are measured in months supply of inventory, which is based on the number of current homes for sale compared to the number of buyers in the market. The normal months supply of inventory for the market is about 6 months. Anything above that defines a buyers market, indicating prices will soften. Anything below that defines a sellers market in which prices normally appreciate.

Between 2006 and 2008, the months supply of inventory increased from just over 5 months to 11 months. The months supply was over 7 months in twenty-seven of those thirty-six months, yet home values continued to rise.

Months inventory has been under 5 months for the last 3 years, under 4 for thirteen of the last fourteen months, under 3 for the last six months, and currently stands at 1.9 months a historic low.

Remember, if supply is low and demand is high, prices naturally increase.

2. This time, housing demand is real

During the housing boom in the mid-2000s, there was what Robert Schiller, a fellow at the Yale School of Management’s International Center for Finance, called irrational exuberance. The definition of the term is, unfounded market optimism that lacks a real foundation of fundamental valuation, but instead rests on psychological factors. Without considering historic market trends, people got caught up in the frenzy and bought houses based on an unrealistic belief that housing values would continue to escalate.

The mortgage industry fed into this craziness by making mortgage money available to just about anyone, as shown in the Mortgage Credit Availability Index (MCAI) published by the Mortgage Bankers Association. The higher the index, the easier it is to get a mortgage; the lower the index, the more difficult it is to obtain one. Prior to the housing boom, the index stood just below 400. In 2006, the index hit an all-time high of over 868. Again, just about anyone could get a mortgage. Today, the index stands at 122.5, which is well below even the pre-boom level.

In the current real estate market, demand is real, not fabricated. Millennials, the largest generation in the country, have come of age to marry and have children, which are two major drivers for homeownership. The health crisis is also challenging every household to redefine the meaning of home and to re-evaluate whether their current home meets that new definition. This desire to own, coupled with historically low mortgage rates, makes purchasing a home today a strong, sound financial decision. Therefore, todays demand is very real.

Remember, if supply is low and demand is high, prices naturally increase.

3. This time, households have plenty of equity

Again, during the housing boom, it wasn't just purchasers who got caught up in the frenzy. Existing homeowners started using their homes like ATM machines. There was a wave of cash-out refinances, which enabled homeowners to leverage the equity in their homes. From 2005 through 2007, Americans pulled out $824 billion dollars in equity. That left many homeowners with little or no equity in their homes at a critical time. As prices began to drop, some homeowners found themselves in a negative equity situation where the mortgage was higher than the value of their home. Many defaulted on their payments, which led to an avalanche of foreclosures.

Today, the banks and the American people have shown they learned a valuable lesson from the housing crisis a little over a decade ago. Cash-out refinance volume over the last three years was less than a third of what it was compared to the 3 years leading up to the crash.

This conservative approach has created levels of equity never seen before. According to Census Bureau data, over 38% of owner-occupied housing units are owned free and clear (without any mortgage). Also, ATTOM Data Solutions just released their fourth quarter 2020 U.S. Home Equity Report, which revealed:

17.8 million residential properties in the United States were considered equity-rich, meaning that the combined estimated amount of loans secured by those properties was 50 percent or less of their estimated market value The count of equity-rich properties in the fourth quarter of 2020 represented 30.2 percent, or about one in three, of the 59 million mortgaged homes in the United States.

If we combine the 38% of homes that are owned free and clear with the 18.7% of all homes that have at least 50% equity (30.2% of the remaining 62% with a mortgage), we realize that 56.7% of all homes in this country have a minimum of 50% equity. That's significantly better than the equity situation in 2008.

Bottom Line

This time, housing supply is at a historic low. Demand is real and rightly motivated. Even if there were to be a drop in prices, homeowners have enough equity to be able to weather a dip in home values. This is nothing like 2008. In fact, its the exact opposite.

 

Chasewood Meadows

Chasewood Meadows Real Estate Homes For Sale, Rent & Price Trends

Shayne Stone "Your Rock Solid Choice Realtor" that helps Home Sellers make a Profit and Home Buyers Equity in Chasewood Meadows neighborhood / subdivision / community which is located in Missouri City Texas 77489 in Fort Bend County. Chasewood Meadows has 75 single family properties with a median build year of 2003 and a median size of 1,511 Sqft., these home values range between $130 - $156 K. The sqft. price change data is available through 1998. The median sold price/sqft is $103.90 while the median appraised value is $ 97.88/ sqft. View homes for sale or rent in Chasewood Meadows and see new homes, trending properties, Foreclosures and much more.

Sometimes there's nothing listed For Sale in Chasewood Meadows - Bookmark the page and check back often or create your own Listing Alert System to Notify you when a property in Chasewood Meadows Missouri City Texas 77489 hits the Market!

Find Chasewood Meadows Real Estate and Chasewood Meadows Homes For Sale. Chasewood Meadows in Fort Bend County can be found using Neighborhood Information Finder. Detailed information includes Chasewood Meadows Real Estate Profile, Chasewood Meadows Trending Homes, Schools Nearby Chasewood Meadows, Places Nearby Chasewood Meadows and Events Nearby Chasewood Meadows. Click here to find recently sold properties in Chasewood Meadows, Foreclosures in Chasewood Meadows, recently listed homes in Chasewood Meadows.

Chasewood Meadows is a subdivision located in Fort Bend County which is within the Texas. The Chasewood Meadows subdivision is surrounded with restaurants, education opportunities, entertainment venues, shopping and more. See below for more information on the surrounding resources for the Chasewood Meadows subdivision.

 

Can't FIND what you are looking for, ASK ME - I CAN HELP!

 

For more info on Chasewood Meadows of Missouri City Texas or any of the other Communities within the Fort Bend County area CLICK HERE or Text / Call 832-449-6060

 

Your #LocalRealtor #ShayneStone of #ChampionsRealEstateGroup #HomeSelling #HomeBuying in #ChasewoodMeadows of #MissouriCityTexas

The Luxury Market Is Attracting Buyers in 2021

As more people continue to identify their changing needs this year, some are turning to the upscale housing sector for more space or finer features. In their most recent Luxury Market Report, the Institute for Luxury Home Marketing (ILHM) shares:

In a snapshot of 2020, despite the devasting effects of the coronavirus pandemic, the luxury real estate market has seen one of its strongest years since 2008. In comparison to experts predictions in early 2020, it is remarkable how significant demands for property type, location, and amenity preferences have changed amid the pandemic.

With more opportunities to work from home and a growing interest in having extra space for things like virtual school, working out, and cooking more meals, the desire to own a home that can meet these needs continues to increase. Additionally, record-low mortgage rates are creating opportunities for homebuyers to stretch their legs into higher price points or even expand their real estate portfolios. The ILHM report continues to say:

Experts believe that the demand for exclusive residential properties outside the metropolitan areas will continue well into 2021; even with the introduction of vaccines, the pandemic is far from over.

For those who have moved to the suburbs and beyond, moving back to the city full time is unlikely while the work from home trend remains. Many of these affluent homeowners are now making their secondary properties their primary residences for the foreseeable future.

If you're interested in buying a home this year, it appears that some higher-priced markets may have more homes to choose from than those at lower price points. Javier Vivas, Director of Economic Research at realtor.com, notes:

Interestingly, markets, where new supply is improving the fastest, tend to be higher priced than those that have yet to see improvement, suggesting sellers are more active in the more expensive markets.

Bottom Line

If you're hoping to buy the home of your dreams, this could be the year to achieve that goal. Lets connect today to explore your possibilities.

 

Chasewood

Chasewood Real Estate Homes For Sale, Rent & Price Trends

Shayne Stone "Your Rock Solid Choice Realtor" that helps Home Sellers make a Profit and Home Buyers Equity in Chasewood neighborhood / subdivision / community which is located in Missouri City Texas 77489 in Fort Bend County. Chasewood has 220 single family properties with a median build year of 1970 and a median size of 2,028 Sqft., these home values range between $144 - $172 K. The sqft. price change data is available through 1998. The median sold price/sqft is $77.16 while the median appraised value is $ 76.78/ sqft. View homes for sale or rent in Chasewood and see new homes, trending properties, Foreclosures and much more.

Sometimes there's nothing listed For Sale in Chasewood - Bookmark the page and check back often or create your own Listing Alert System to Notify you when a property in Chasewood Missouri City Texas 77489 hits the Market!

Find Chasewood Real Estate and Chasewood Homes For Sale. Chasewood in Fort Bend County can be found using Neighborhood Information Finder. Detailed information includes Chasewood Real Estate Profile, Chasewood Trending Homes, Schools Nearby Chasewood, Places Nearby Chasewood and Events Nearby Chasewood. Click here to find recently sold properties in Chasewood, Foreclosures in Chasewood, recently listed homes in Chasewood.

Chasewood is a subdivision located in Fort Bend County which is within the Texas. The Chasewood subdivision is surrounded with restaurants, education opportunities, entertainment venues, shopping and more. See below for more information on the surrounding resources for the Chasewood subdivision.

 

 

Can't FIND what you are looking for, ASK ME - I CAN HELP!

 

 

For more info on Chasewood of Missouri City Texas or any of the other Communities within the Fort Bend County area CLICK HERE or Text / Call 832-449-6060

 

Your #LocalRealtor #ShayneStone of #ChampionsRealEstateGroup #HomeSelling #HomeBuying in #Chasewood of #MissouriCityTexas

47% of New Buyers Surprised by How Affordable Homes Are Today

Headlines matter. Right now, its hard to read about real estate without seeing a headline that suggests homes have become unaffordable for most Americans. In reality, there's hard evidence that shows how owning a home is more affordable than renting in most parts of the country, as record-low interest rates are keeping monthly mortgage payments about 23% lower than the typical payment of 20 years ago. Despite the facts, misleading headlines persist, and they impact how hopeful homebuyers perceive the market.

In a recent survey by realtor.com, home shoppers indicated they were surprised by what they could actually afford when buying their first home. In fact, 47% discovered their budget was larger than they expected. George Ratiu, Senior Economist at realtor.com, explains:

“For first-time buyers, especially, the drop in the 30-year mortgage rate has provided unexpected leverage. Lower rates allowed many buyers to stretch and buy more expensive homes while keeping their monthly budget the same.”

So why do these negative headlines that cast doubt on affordability continue to exist?

Most analysts only look at two of the three elements that make up the affordability equation: price and income. Its true that incomes haven't kept up with the price of houses. However, affordability is about the cost of the home, not just the price. For that reason, mortgage rates, the third element of the affordability equation, are important to consider.

For example, here's the typical mortgage payment for assorted dates going back to 2000, as calculated by CoreLogic:Outside of the housing crash (when short sales and foreclosures drove prices down), its more affordable to buy a home today when you consider all three elements of the affordability equation: price, income, and mortgage rate.

Bottom Line

Whether you're a first-time buyer or a move-up buyer, don't let the headlines scare you away from your dream of homeownership. Instead, connect with mortgage and real estate professionals to determine what you can afford and what's available at that price. Like almost half of the buyers in the survey, you may be pleasantly surprised.