According to new figures published by the National Association of Realtors, first-time homebuyers accounted for 26 percent of purchases in January, down from 30 percent a year earlier. It’s the lowest market share for first-time buyers that NAR has recorded since it began measuring it in 2008. Ironically, this national trend is the complete opposite of my own experience -- six of my last seven buyer-clients were first-time homebuyers.
Student Debt Holds Some Buyers Back, But Doesn't Need To
According to the article, "underwriters generally treat student debt in a more positive light than credit card or auto loan debt." Study: Student Debt Holds Buyers Back, But Doesn't Need To
It's Getting Easier to Qualify for an FHA Mortgage Loan
Wondering whether you qualify to purchase a new home? A government agency reports that the average credit score on FHA-backed loans fell to 680 in 2013, and the average debt-to-income ratio of borrowers rose to 40.3 percent — both indicators that credit requirements may be easing. In comparison, the agency reported in January 2013 that the average credit score was 701 and the debt-to-income ratio was 38 percent.
If you'd like more information on whether you qualify for an FHA or other type of mortgage to buy a home, contact me today ((443) 924-7418). I'll be happy to put you in touch with an excellent group of mortgage professionals.
Jerry Kline Named Keller Williams Odenton Agent of the Month for January!
Surprised! That's how I felt after recently being named Keller Williams Flagship Agent of the month for the Odenton/Ft. Meade office. Many thanks to my buyer and seller clients who closed deals in January, among them Matt & Alison Pavan and John Murray. Thanks, also, to all of the agents in the Keller Williams Odenton office. All of you are great friends and you're always there when I need help!
Tax Time Help for New Homeowners!
Don't-Miss Home Tax BreaksFrom the mortgage interest deduction to energy tax credits, here are the tax tips you need to get a jump on your returns. Read
Did You Sell Your Home After Making Improvements?Keeping track of the cost of capital improvements to your home can really pay off on your tax return when it comes time to sell. Read
Visit houselogic.com for more articles like this.
Copyright 2014 NATIONAL ASSOCIATION OF REALTORS®
Hassaan Mansoor Closes His New Home Purchase!
I'd like to take a moment to thank and congratulate Hassaan Mansoor on the purchase of his new home in Bowie. Hassaan is a first-time home buyer and was married just a few months ago to his lovely bride, Sana. The couple was a lot of fun to work with -- patient, decisive and responsive. Much happiness in your new home, Hassaan!
Congratulations Matt & Alison on the Purchase of Your New Home!
Congratulations Matt & Alison Pavan on the purchase of your new home! The first-time homebuyers settled last Friday on their perfect rancher in the Four Seasons section of Gambrills, MD. Thanks for being such great clients and for choosing me for your real estate needs!
The Cost of Building a New Home: Where Does the Money Go?
For 2013, the National Association of Home Builders broke down the cost of construction on new single-family homes into the following eight major stages of construction:
Interior finishes account for 29.3% of construction costs
Framing: 19.1%
Exterior finishes: 14.4%
Major system rough-ins: 13.4%
Foundations: 9.5%
Site work: 6.8%
Final steps: 6.6%
Other costs: 0.9%
OPEN HOUSE! - 541 Norton Lane, Arnold - Sun. Jan 12 1-3 pm
Tour one of my newest listings this weekend - Sun. Jan. 12 from 1 to 3pm!
This beautiful home features four good-sized bedrooms and 2.5 baths. It's in excellent condition . . . everything's been updated or renovated. ALL NEW open kitchen with top-grade cabinets, stainless steel appliances and granite counters. A fully remodeled lower level. New roof, HVAC system, water heater, hot tub, sump pump, decking & washing machine. Solid hardwood floors on the main & upper levels. A lovely glass-enclosed sun porch. The fully landscaped lot is a gardener's delight. Includes a one-year home warranty! MLS# AA8227806
Call me, Jerry Kline, for more info! (443) 924-7418
As Mortgage Rates Climb, Home Sales Slip
While mortgage rates are still at historical lows, 30-year fixed-rate mortgages have risen nearly a full percentage point since May. As interest rates have risen, demand for new homes has fallen. As Mortgage Rates Climb, Home Sales Slip
