Buying is Anything But Normal

If you are buying a home, you might have questions on how to deal with the new normal. Every time I think I have seen it all in real estate, I am reminded that there is always something to shock me. What is the new normal? Let me walk you through the changes to the home buying experience.

1. Instead of doing a consultation in person, Treu Group Real Estate is having the same meeting online. We still can meet each other, share important documents, get a clear picture of your dream home, answer questions and even look at options together. This is not all that different than what we have done for out of town buyers before COVID-19. We know how to do this.
2. We will carefully select the best matches based upon the consultation appointment. This is the same...

Buying My First Home

Are you asking, "Is it time to buy my first home"? That is a great question to consider so you are making the decision instead of having it made for you. The sooner you can buy a home, the more wealth you can build. 

What should you consider when deciding if you should buy a home:

1. Do you have a stable income? This is important as having a reliable income is a key to peace of mind and financial stability.

2. Are you planning to live in the area for three to five years? If you are going to be in the area for a reasonable time, it makes sense to strongly consider buying. If you are going to move in a year or two, it might make sense to continue renting. 

3. Do you have the ability to deal with issues that can occur...

Down Payment Facts

How much is the Downpayment?

The time when there is a typical downpayment is over. It will vary depending on the type of loan, what you qualify for and the monthly mortgage payment that you comfortable paying.

Many buyers think they need 20% downpayment. That is not the case anymore. Veterans can purchase a home loan with no down payment. FHA loans can be as little as 3.5% down. There are even opportunities to buy with 0% down with conventional loans.

What is the Downpayment?

A down payment is the amount of cash a home buyer puts toward the price of a new home. It accomplishes a few things; first, it reduces the amount of money you need to borrow and it reduces the risk the lender takes in loaning the money. By reducing the risk, the borrower will typically get a better interest...

Real Estate Investing in College

Millenials are on the move as they dominate the first time home buyer category. What does this mean? This simply means more millennials are entering the homebuying phase of life and they are doing it early. They are realizing that homeownership is definitely within their grasp especially now with the exciting change in the lending process and the affordability improving.

This is great news for building your wealth and starting early can help improve your financial standing. The return on the investment when you start early is something you can take advantage of so it's important that you have a great team of professionals helping you prepare and find a program that best suits your needs. We are talking about having a strategy to consider buying a home during college or if you have a child entering college instead of paying...

What Type of Mortgage is Right for Me?

When our parents were buying their first home, there was only one way to finance the purchase. You would walk down to the local bank and ask for a 30-year mortgage. That's how our parents and grandparents were able to buy a home. Many of us spent our childhood there.

Things sure have changed.  The average homeowner moves every 7-10 years. Either because of a new career opportunity or a change in lifestyle can significantly affect the way people manage their property. Depending on your needs, there are a number of mortgage options you might consider, each with its own pros and cons, spending some time to fully understand the options is the best way to choose the right loan for your needs.

While loan programs and terms vary, the most common are:

• Conventional - A conventional loan is normally still...

Why You Should Invest In Real Estate Early

It's important to know why you should invest in Real Estate at an early age and know the impact it can have on your wealth. According to an Urban Institute study, homeowners who purchase a house before age 35 are better prepared for retirement at age 60.

The good news is, our younger generations are strong believers in homeownership.

According to a Freddie Mac survey,

“The dream of homeownership is alive...

Real Estate Equity

83% of Wealth comes from Equity. 

Real estate equity is a large contributor to wealth. It is important to have a strategy to get you the wealth that you desire. 

Over the past few decades, people's way of view when it comes to homeownership has changed. Unlike previous generations, like our grandparents, who bought a home with a 30-year mortgage and celebrated the day they made their last payment, today’s home buyers rarely stay in their home that long. Some move across the country, overseas, or is choosing a smaller home. As a result, the way mortgages are viewed has changed as well and often buyers are not building the equity in their homes the way it used to.

But there are benefits to building equity and paying down the loan, here are just a few:

• Flexibility – Having equity in...

Homes Are More Affordable Today, Not Less Affordable

The National Association of Realtors (NAR) releases a monthly Housing Affordability Index. The latest index shows that home affordability is better today than at almost any point over the last 30 years! House prices have substantially increased over the last several years.

It’s not, however, just the price of a home that matters. It's important you have someone to support you to see how mortgage, price, affects the affordability equation.

Mortgages

Mortgage rates have fallen by over a full percentage point since December 2018. Another major piece of the affordability...

Have You Outgrown Your Home?

Many homeowners are surprised when they suddenly realize that the “perfect” home of just a few years ago no longer suits their needs. From an expanding family to an empty nest, it’s common for a home to no longer feel like the same way it used to be and be the right fit. If you’re unsure if you’ve reached the point where a move is warranted, here are a few signs you’ve outgrown your home:

More Kids than Rooms or More Rooms than Kids

Having kids is a life-changing experience. With that said, life changes and our homes must change, too.

Clutter or Lack of Storage

Do you need more closet or storage space? A home with...