Purchasing New Construction is a wonderful experience but it can come with it's own set of hassles. On Rosso's Home Front 004, I share with you 5 Tips for Building a New Home.

We all want a place to call home, a place that gives us a sense of security, a piece of the American Dream.  Currently, we are seeing a major interest from females who want to achieve this dream and the numbers continue to prove it.

This year, for the second year in a row, single female buyers accounted for 18% of all buyers.  Last year, 60% of millennial women listed as the primary borrowers on mortgages were single.

According to the 2018 Home Buyer and Seller Generational Trends Report by the National Association of Realtors, one in five home buyers in the U.S. were single females, most of them part of the baby boomer generation, as you can see in the graph below:

This does not come as a surprise since 50.8% of the U.S. population is female and 15.6% of them are 65 years and over, according to the Census Bureau.

When you look into it, there are several reasons for this demographics’ booming interest in home ownership:

• The Divorce Rate, especially what is known as “Gray Divorce”:  The divorce rate has doubled for those ages 50 and over and tripled for those ages 65 and over.
• Average Life Expectancy:  For women it’s 81, four years longer than men.
• To Build Home Equity: Women want to build equity through their home.
• To escape rising rents
• Looking for a “fresh start”

Now, whether you are a millennial who wants to buy a starter home, a billionaire looking for that luxury home you’ve always wanted, or maybe even someone who just went through a gray divorce, let’s get together to help you create your real estate portfolio so that you can start investing your money in real estate today! 

Homeowners who sold their homes in the third quarter this year have benefited greatly!  On Rosso on Real Estate 006, I talk about the returns home sellers are getting when they sell in today's market...the best since 2007. 

Wishing you a Happy Thanksgiving as I count my blessings

On Rosso's Home Front 003, I share the the top 3 benefits of homeownship that the buyers and sellers I have worked with for the last 30 years are always the most grateful for.

The Veterans Administration (VA) Home Loan is a benefit that is available to more than 22 million veterans and 2 million active duty service members to help them achieve the dream of homeownership.

One of the benefits of a VA Loan is that borrowers can buy a home with a 0% down payment.  In 2017, 79% of all VA loans put down 0%.

Who can apply for a VA Loan?  Those who have served:

• 90 consecutive days during war time.
• 181 consecutive days during peace time.
• More than 6 years in the National Guard or Reserves
• The spouse of service member who has died in the line of duty or as a result of a service-related disability.
• Other case specific situations
• Have satisfactory credit
• Earn sufficient income
• Have a valid Certificate of Eligibility (COE), DD Form 214

VA Loan may be used to:

• Purchase a home
• Purchase a condo…certain VA conditions may apply…such as a VA approved project
• Build a home
• Refinance an existing home loan
• Make improvements to a home like solar heating or other energy conservation measures.

In 2017, there were:

• 740,389 Loans Guaranteed
• 51.3 were Purchase Loans
• $254,866 was the Average Loan Amount
• $189 Billion in Total Loans

Now, the good news is that VA purchase loans are on the rise in 46 out of 50 states and Washington D.C.

If you have any questions on your eligibility for a VA Loan or qualifying for a VA loan, feel free to reach out to me by private message or call or text me at 215-778-9687.

A lot of potential buyers stay away from the real estate market due to their uncertainties about mortgage qualification. On Rosso on Real Estate 005, I will help you overcome your fears of the mortgage process. 

On Rosso's Home Front 002, find out about how natural disasters can impact the housing market and the value of your home. As prices have appreciated, it's important to make sure that you have the proper coverage for your home.

As we begin to close out 2018, I am getting a lot of questions from my clients and friends on where home sales will be looking like in 2019.  So I put together the projections of some of the most reliable sources to help answer this question.  Let’s first take a look at the sources I included in my study:

The National Association of Realtors (NAR) – The largest association of real estate professionals in the world.

Fannie Mae – A leading source of financing for mortgage lenders, providing access to affordable mortgage financing in all markets.

Mortgage Bankers Association (MBA) – The leading advocate for the real estate finance industry.  

Freddie Mac – An organization which provides liquidity, stability, and affordability to the U.S. housing market in all economic conditions extending to all communities from coast to coast.

Here is a look at their projections:

As you can see, every one of these sources believes home sales will increase next year.  This is great news for our area and for the nationwide real estate market.

If you have any questions about how the market will look in your area, feel free to reach out to me and we can chat about it.

Buyer demand is still very strong in our area right now! In Rosso on Real Estate 004 - I share with you 4 Great Reasons to Sell Your Home This Fall.