In a CNBC article, self-made millionaire David Bach explained that: “The biggest mistake millennials are making is not buying their first home.” He goes on to say that, “If you want to build real financial security, real wealth for your lifetime, then you need to buy a home.”
Bach went on to explain:
“Homeowners are worth 40 times more than renters. Now, that first home doesn’t need to be a dream home, it can be a very small home. You might literally have to buy a small studio apartment, but that’s how you get started.”
Then he explains the secret in order to buy that home!
“Don’t do a 30-year mortgage. You want to take that 30-year mortgage and instead pay it off early, do a 15-year mortgage. What happens if you do a
Buying a home has been the American dream for sometime now. This is an exciting stage in our adult life and we all get there at different points in time. Many of us wait around wondering if the time is right, Should I wait till I'm married? How big will my family be? Others think no one will yet take them seriously believing they are too young for a mortgage.
I wanted to take the time to show you this is not the truth. Many more Americans are ready for homeownership than they believe. Below you will find some facts about first time home buyers and where they are in their life when they finally decide to buy a home. This real estate information has been provided by NAR, The National Association of Realtors.
Over 700,000 Homes in the US Regained Equity in 2017. This is amazing news for the country and home owners across the nation. This means our country is technically worth more. Homeowners now have the ability to profit on homes sales and move up to a more expensive home or be more stable with mortgage payments. This increase in home equity brings 20% of home owners out of negative equity.
The average American homeowner has gained $14,900 in equity during the past year.
3.2 Million homes since 2016 have moved into positive equity
63% of home owners have had their equity increased, increasing the value of american homes $870.6 Billion since the Third Quater of 2016.
This InfoGraphic shows the amount of homes with positive
Great Gorge Village a scenic setting where attractive townhomes and Condominiums cling to flowery hillsides. You will experience spectacular views of a sun-drenched valley below. Easy Access to some of the Greatest golf on the East coast, Skiing, Snowboarding hiking, biking, horseback riding and tennis. All of this right at your doorstep!
Welcome to Great Gorge Village, ideally located in the scenic rolling hills of Northwestern New Jersey and Just one hour from Manhattan.
This Mountain Resort Destination are adjacent to Minerals, Resort & Spa Featuring a ton of amenities.
Nows the time to move up to a luxury home in New Jersey. If you are need of a larger home because of a growing family. Maybe you are finally ready for a bigger investment for the future. Either way, after exploring some data released by Trulia's Market Mismatch Study, you will see buyers are in the driver seat during real estate transactions of luxury homes.
Fewer people are looking for Luxury homes in New Jersey, Compared to the number of homes for sale in the marketplace. This will keep homes on the market for a longer period of time, usually leading to a price cut of some sort on the home.
In the started home market many home buyers are getting stuck in bidding wars. The high demand for these homes has increased the market. You will see
People are concerned after seeing values of homes increasing faster than historic norms. This is making many Americans nervous, thinking another buble is waiting to pop. The lenient lending standards from the past decade have disappeared. This is what created false demand in the housing market.
These unethical practices, no longer exist. But what about prices?
When you take a look at the charts, you can see home values are not moving as quickly as they did before the crash. Also you have to understand after such an intense crash the market is almost trying to play catch up with itself.
Home prices are rising but not at such an extreme rate as we saw in the past.