The key characteristics and drivers of the four main generational groups, Baby Boomers, Gen X, Millennial, and Gen Z: Boomer housing market trends: Ages: 60–78 Born: 1946–1964 Homebuyer market share: 39% Baby boomers are the dominant group in the homebuying market, largely because they have more equity built up in their existing homes and are … Read More
Category: Real Estate
How to Compete with a Cash Buyer Without Cash
Categories: Real EstateHOW TO COMPETE WITH A CASH BUYER WITHOUT CASH With the real estate market so competitive these days, it makes sense to give yourself every opportunity to set your offer apart from the others. Fairfield County Bank offers a fully underwritten pre-approval option (for most of our loan programs) that, if our client is approved, … Read More
Your Credit Score
Categories: General, Real EstateYOUR CREDIT SCORE You hear about your credit score all the time, on TV, in the newspaper, friends talk about it, but What is your credit score and what does it mean? Credit scores range from 300 to 850. A score of 670 or above is considered good. The higher your credit score the better … Read More
Real Estate
Categories: News, Real EstateJuly 2022 – Real Estate While nominal house price appreciation is still strong, the housing market is adjusting to higher mortgage interest rates, which has resulted in a significant decline in home-buying power. The housing boom of 2020 and 2021 was the exception, not the rule. Record-low mortgage rates, the ability to work from home, … Read More
Gen Zers Are Looking to Buy a Home
Categories: Real Estate50% of Gen Zers Are Looking to Buy a Home Close to 50% of Gen Zers (particularly those between the ages of 18 and 25) are looking to buy a home within the next five years, according to Realtor.com. However, since many Gen Zers are either still in college or just starting their careers, job … Read More
Real Estate Agents – More Vital Than Ever
Categories: Real EstateREAL ESTATE AGENTS – MORE VITAL THAN EVER Millennials currently comprise the largest share of first-time home buyers at 37%, according to the National Association of Realtors®’ 2021 Home Buyer and Seller Generational Trends report. The youngest buying generation – Gen Z – is also starting to emerge. The majority of Millennials and Gen Z … Read More
Houses Listed Mid-Week Sell Faster & For More
Categories: Real EstateDID YOU KNOW HOUSES LISTED MID-WEEK SELL FASTER AND FOR MORE MONEY? Homes listed on a Tuesday, Wednesday or Thursday tend to sell for $1,700 more than homes listed on the weekend. And they sell nearly 2 days faster, according to new research from the real estate brokerage Redfin. However, because the market is so … Read More
Housing Market Expectations for 2021
Categories: General, Real EstateHOUSING MARKET EXPECTATIONS – 2021 The housing market in 2021 is expected to “settle somewhere in between where we were before COVID and where we were during COVID,” says Danielle Hale, Chief Economist for Realtor.com’s recent article entitled, “How the Rollout of COVID-19 Vaccines Could Help, and Hurt, the U.S. Housing Market.” More homes are … Read More
FHFA Extends COVID Related Loan Flexibilities
Categories: News, Real EstateFHFA Further Extends COVID-Related Loan Flexibilities FOR IMMEDIATE RELEASE 12/10/2020 Washington, D.C. – The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac (the Enterprises) will extend several loan origination flexibilities until January 31, 2021. The changes are to ensure continued support for borrowers during the COVID-19 national emergency. The flexibilities were set … Read More
Real Estate Report
Categories: News, Real EstateReal Estate Report What Will Happen with Real Estate? The prognosticators had promised Armageddon for the economy when the pandemic hit. Don’t get us wrong–it was plenty bad. But it was not as bad as many had predicted. The main reason for this resiliency? The real estate market. This is somewhat poetic justice because … Read More