First Time Home Buyers Lead Market in 3rd Quarter

First Time Home Buyers Lead Market in 3rd Quarter

First-time home buyers purchased 601,000 single-family homes compared to 567,000 during 3Q’16, an increase of 6%, resulting in the highest quarterly purchase volume since September 30, 2000, according to the Genworth Mortgage Insurance First-Time Homebuyer Market Report

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for the third quarter of 2017. It was the highest level of first-time home buyer demand since the third quarter of 2000. First-time home buyers accounted for 40% of all single-family homes sold and 56% of all purchase mortgages financed.  Have the Easterbrook Team show you all your options to buy for 2018.  Call us at (916) 850-6050. 

3 Months, 3 Housing Trends: Mortgage Rates, Home Sales and Hurricanes

For home buyers, home sellers, refinancers and fixer-uppers, the end of 2017 could get a little weird. In housing, the fourth quarter tends to be predictable —  but not this year. Here are three housing and mortgage trends to watch for in the fourth quarter of 2017:


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The Easterbrook Team is your home loan lender source.  Contact us today to discuss refinancing or purchasing a home. 

"We Make The Loan Process Easy!"

916.850.6050

Down Payment Savings

New Study on Down Payment Savings

 

Hanley Wood’s Data Studio recently assessed Metrostudy and Census data to determine how long it would take each generation to save for a 10% down payment. (Results were based on the median household income and median home price for each age group.)

The study found that Millennials and retirees generally take the most time to save for a down payment. Meanwhile, Americans ages 45 to 54 need the least. Here are the complete results:

• Ages 18 to 24: 8.77 years
• Ages 25 to 34: 7.34 years
• Ages 35 to 44: 5.45 years
• Ages 45 to 54: 3.54 years
• Ages 55 to 64: 3.72 years
• Ages 65 and over: 7.37 years

Setting aside enough money for a down payment is one of the most challenging steps in the home buying process. However, on the Easterbrook Team, we have some very helpful strategies can be utilized to make saving easier. We’ve also got an arsenal of strategies to create down payment funds, from 401K’s to the Bank of Mom and Dad. If you know anyone who could benefit from a savings discussion, count on us to help.

To make your dreams come true, Call The Easterbrook Team for your refinance and purchase needs.

916.850.6050 easterbrookteam@spmc.com 

John Easterbrook NMLS#226555

Patty Aguon NMLS#994635

Whether They Rent or Buy, Millennials Don't Want to Drive!

There are more Millennials than there are boomers or Gen Xers, which may be one reason we in the real estate industry are so laser-focused on engaging them. We hear these 16- to 34-year-olds mostly live at home. (And not just the teenage ones!) Sometimes we hear they actually like the burbs. Reports say changes to down payment requirements may actually push them into the real estate market. City planners and developers take note: Millennials want to walk.

That’s the word from Tuesday’s report from the National Association of Realtors® and the Transportation Research and Education Center at Portland State University, which states that “millennials prefer walking over driving by a substantially wider margin than any other generation.” They surveyed 3,000 adult Americans in the 50 biggest metro areas.

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To Discuss Your Home buying Opportunities Please Call The Easterbrook Team at 916-850-6050 or Email: Easterbrookteam@spmc.com