Real Estate is one of the most lucrative industries & markets in the world from the small business sectors to multi corporations. Some of the biggest tycoons in today’s world derive from real estate, & their emergence is still hard to predict.
Real Estate undergoes fluid cycles, & the most affluent people in the industry expertly navigate these pathways. Being that so many factors can & do in fact affect the real estate industry, those directly working in the field greatly benefit by not limiting themselves to one facet of the industry; rather, it is in their best interest to broaden their breadth of experience, & pivot as needed.
Investors Are Buying More of the U.S. Housing Market Than Ever Before
The share of investor purchases of U.S. homes have climbed to an all-time high, a sign that rising home prices have done little to dampen demand for flipping homes or turning them into single-family rentals. Big private-equity firms, real-estate speculators and others that buy properties comprised more than 11% of U.S. home purchasers in 2018, according to data released on Thursday by CoreLogic Inc. The investor purchases are the highest on record and nearly twice the levels before the 2008 housing crash. The investor interest poses a challenge for millennials and other first-time buyers who are increasingly looking to buy starter homes and are forced to compete with deep-pocketed cash buyers.
More than 8 million homeowners are leaving big money on the table by not refinancing
Mortgage rates have been on a roller coaster for the last year, but now they’re sitting at the bottom of the track, giving a major boost to the number of borrowers who can benefit from a refinance.
The average rate on the 30-year fixed mortgage hit a three-year low of 3.73% last week, according to Freddie Mac. That means 8.2 million borrowers could refinance and lower their interest rates by at least 75 basis points, estimates Black Knight, a mortgage software and analytics company. It’s the largest group since the end of 2016.
The Best Real Estate Blogs For 2019
Being self-employed has many advantages and perks but it can put your at a disadvantage if you are trying to become a homeowner. In fact, to qualify for a loan you will be required to apply using your net income as opposed to salaried consumers who use their gross income. While not a show-stopper, it is something to consider when beginning the home purchase process.