Buying & Selling Homes with The Collura Team

     Renters: It is about to Get A Lot Worse    We often promote homeownership over renting when a family is ready, willing and able to purchase. There are both financial and non-financial benefits to owning a home of your own. Based on the headlines below, many news outlets agreed with us after they reviewed a recent report from the Harvard Joint Center for Housing Studies and Enterprise Community Partners . The study states that the number of households spending 50% or more of their income on rent is expected to rise by over ten percent in the next decade. They concluded: “Overall, this white paper projects a fairly bleak picture of severe renter burdens across the US for the coming decade.” What do other experts think of the report? You can tell by the headlines they chose to introduce their stories: “Renters, get ready to take it on the chin” - CNBC “The Rent Crisis Is About to Get a Lot Worse” - Bloomberg Business “Renters Will Continue to Struggle for the

Buying A Home Is Better Way to Produce Wealth Than  Renting! According to the latest Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index home ownership is a better way to produce greater wealth, on average, than renting. The BH&J Index is a quarterly report that attempts to answer the question: Is it better to rent or buy a home in today’s housing market? The index examines that entire US housing market and then isolates 23 major markets for comparison. The researchers at use a “ ’horse race’ comparison between an individual that is buying a home and an individual that rents a similar quality home and reinvests all monies otherwise invested in homeownership.” Ken Johnson, Real Estate Economist & Professor at Florida Atlantic University, and one of the index’s authors states: "The U.S. as a whole is still in clear buy territory. The cities of Cincinnati, Chicago, Cleveland, and New York City are deep into buy territory." Miami and

                  5 Financial Reasons To Buy Your Home Now We have  reported  many times that the American Dream of homeownership is alive and well. The  personal  reasons to own differ for each buyer, with many basic similarities. Eric Belsky, the Managing Director of the Joint Center of Housing Studies at Harvard University expanded on the  top 5 financial benefits  of homeownership in his paper - The Dream Lives On: the Future of Homeownership in America . Here are the five reasons, each followed by an excerpt from the study:   1.) Housing is typically the one leveraged investment available. “Few households are interested in borrowing money to buy stocks and bonds and few lenders are willing to lend them the money. As a result, homeownership allows households to amplify any appreciation on the value of their homes by a leverage factor. Even a hefty 20 percent down payment results in a leverage factor of five so that every percentage point rise in the value

       Thinking of Selling? 5 Reasons You Shouldn’t For Sale By Owner In today's market, with homes selling quickly and prices rising some homeowners might consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons this might not be a good idea for the vast majority of sellers. Here are five reasons: 1. There Are Too Many People to Negotiate With Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner: The buyer who wants the best deal possible The buyer’s agent who solely represents the best interest of the buyer The buyer’s attorney (in some parts of the country) The home inspection companies, which work for the buyer and will almost always find some problems with the house. The appraiser if there is a question of value  2.  Exposure to Prospective Purchasers Recent studies have shown that 88% of buyers search online for a ho

                                                       352-279-0899   Over 23% Thinking of Selling. Why the Hesitation?   Last month, the National Association of Realtors (NAR) reported that housing inventory was down 4.7% from the same time last year and that the month’s inventory of homes for sale stood at 4.8 - far below the six months necessary for a normal housing market. Why is there such a shortage of inventory? The recently released Homeowner Sentiment Survey suggests that the American homeowner may not be fully aware of the opportunities that exist in the current real estate market. The survey, conducted by Edelman Berland for HSF Affiliates , also reports that many homeowners would be placing their home up for sale if they were better informed about today’s market. Since the housing industry is facing a shortage of housing inventory, the survey’s findings are crucially important. The survey reported that 23% of current homeowners questioned are cons

                               Instant home makeovers Not every home makeover has to be a major project that lasts days, weeks, or even months. There are a ton of quick touch-ups and fixes that can make a huge difference in the look and feel of your home, even though you can finish the project in less than an hour. A new mailbox: Chances are you’re still using the same mailbox that came with your home. But giving your mailbox a fresh coat of paint—or even replacing it entirely—is pretty painless, and it instantly upgrades your home’s curb appeal. Declutter: Less is usually more. Go through your home and consider all the stuff that you haven’t used in years. If it’s no longer serving a purpose, sell it, donate it, or throw it away. New hardware for your drawers: Painting kitchen and bathroom cabinets can be a big undertaking—drop cloths, tape, washing brushes and rollers, etc. But you can change out your drawer hardware in just a few minutes—all you have t

               Most Experts Agree : There is No Housing Bubble There is no doubt that home prices in the vast majority of housing markets across the country are continuing to increase on a month over month basis. The following map (based on data from the latest CoreLogic pricing report) reveals the appreciation level by state: These increases in value have caused some to be concerned about a new price bubble forming in residential real estate. Here are quotes from many of the most respected voices in the housing industry regarding the issue: Nick Timiraos, reporter at the Wall Street Journal : “Predictions of a new national home price bubble look unfounded for now, according to data.” Michael Fratantoni, Chief Economist, the Mortgage Bankers Association : “I don’t really see it as a bubble.” Jack M. Guttentag, Professor of Finance Emeritus at the Wharton School of the University of Pennsylvania : “My view is that we are a long way from another house pric

                                                                          352-279-0899                        5 Financial Reasons To Buy A Home         Here are the five reasons, each followed by an excerpt from the study:   1.) Housing is typically the one leveraged investment available. “Few households are interested in borrowing money to buy stocks and bonds and few lenders are willing to lend them the money. As a result, homeownership allows households to amplify any appreciation on the value of their homes by a leverage factor. Even a hefty 20 percent down payment results in a leverage factor of five so that every percentage point rise in the value of the home is a 5 percent return on their equity. With many buyers putting 10 percent or less down, their leverage factor is 10 or more.” 2.) You're paying for housing whether you own or rent. “Homeowners pay debt service to pay down their own principal while households that rent pay down t

                                                                  352-279-0899                                                                       How do HOA's Work?   When you purchase a home, there’s a good chance you’ll have to pay a homeowners association fee, especially in gated communities, townhouses, condominiums, and other similar planned neighborhoods. The idea is to keep common areas clean and maintained, and there’s usually an HOA board that is responsible for setting the rules and regulations. Each HOA is different, but most have the same core elements. You’ll typically pay your HOA fees either monthly or annually, and it’s an important factor to consider when you’re weighing your options for a new home. So what is typically included in your HOA fees? First, the fun stuff Amenities are typically the big perk of living in a community with an HOA. While you lose out on some of the freedom of living without an HOA, you instead get community amenitie