Saturday, April 28, 2018

Sell my Home In Queens NY | Buying a Home Is Cheaper Than Renting in the Majority of the US

Buying Myths, First Time Home Buyers, For Buyers,

Sell my Home In Queens NY | Buying a Home Is Cheaper Than Renting in the Majority of the US State?

New York City Real Estate Team helps you find the newest Queens real estate listings. By analyzing information on thousands of homes for sale in Queens, New York.

If you are selling a home in Queens or Brooklyn, selling a NY Condo or Coop or Selling a NY Property be sure to call Team Realty Real Estate for a Complimentary Queens or Brooklyn Home Valuation. If you are in the market to rent, we feature an extensive inventory of QUEENS HOUSES FOR RENT…

•Astoria	•Jamaica Estates	•Long Island City	•Sunnyside
•Forest Hills	•Kew Gardens	•Howard Beach	•Bayside
•Glendale	•Elmhurst	•Richmond Hill	•College Point
•Flushing	•Jamaica	•Brooklyn	•Long Island

Our topic today Buying a Home Is Cheaper Than Renting in the Majority of the US State?

The results of the 2018 Rental Affordability Report from ATTOM show that buying a median-priced home is more affordable than renting a three-bedroom property in 54% of U.S. counties analyzed for the report.

The updated numbers show that renting a three-bedroom property in the United States requires an average of 38.8% of income.

The least affordable market for renting was Marin County, CA, just over the Golden Gate Bridge from San Francisco, where renters spend a staggering 79.5% of average wages on rent, while the most affordable market was Madison County, AL where 22.3% of average wages went to rent.

Other interesting findings in the report include:

Average rent rose faster than income in 60% of counties
Average rent rose faster than median home prices in 41% of counties
While median home prices rose faster than average rents in 58% of counties

Bottom Line

Buying a home makes sense socially and financially. If you are one of the many renters out there who would like to evaluate your ability to buy this year, let’s get together to find your dream home.

Source... KCM RossMery Blog http://nyhomesforsale.blog/

Click here to check Our Blog en Español

To protect your interest, it is necessary that you have a knowledgeable agent working for you. Who is an expert in the local market and ensure that you make the best possible decisions?

We all are dedicated to keeping you on top of our local market.

To reach us, please call/ text 917-515-9783

Or email us nyhomeseller@gmail.com

Search for the newest listings in Queens NY by map (click picture below)

Thinking of selling your home?

Find out What is your home New York worth now!

Or call/Text 917-515-9783 For More Information.

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Buying My House in Brooklyn NY | Is Family Mortgage Debt Out of Control?

First Time Home Buyers, For Buyers, For Sellers, Interest Rates, Move-Up Buyers

Buying My House in Brooklyn NY | Is Family Mortgage Debt Out of Control?

Explore the best neighborhoods in Brooklyn to buy a house based on home values, property taxes, homeownership rates, housing costs, and real estate trends. ...

Neighborhoods we served in Brooklyn New York:

Cypress Hills

East New York

City Line

Bushwick

Brownsville

Please feel free to call or email me if you have any questions or would like additional information.

•Astoria	•Jamaica Estates	•Long Island City	•Sunnyside
•Forest Hills	•Kew Gardens	•Howard Beach	•Bayside
•Glendale	•Elmhurst	•Richmond Hill	•College Point
•Flushing	•Jamaica	•Brooklyn	•Long Island

Our topic today Is Family Mortgage Debt Out of Control?

Some homeowners have recently done a “cash out” refinance and have taken a portion of their increased equity from their house. Others have sold their homes and purchased more expensive homes with larger mortgages. At the same time, first-time buyers have become homeowners and now have mortgage payments for the first time.

These developments have caused concern that families might be reaching unsustainable levels of mortgage debt. Some are worried that we may be repeating a behavior that helped precipitate the housing crash ten years ago.

Today, we want to assure everyone that this is not the case. Here is a graph created from data released by the Federal Reserve Board which shows the Household Debt Service Ratio for mortgages as a percentage of disposable personal income. The ratio is the total quarterly required mortgage payments divided by total quarterly disposable personal income. In other words, the percentage of spendable income people are using to pay their mortgage.

Today’s ratio of 4.44% is nowhere near the ratio of 7.21% during the peak of the housing bubble and is instead at the lowest rate since 1980 (4.38%).

Bill McBride of Calculated Risk recently commented on the ratio:

“The Debt Service Ratio for mortgages is near the low for the last 38 years. This ratio increased rapidly during the housing bubble and continued to increase until 2007. With falling interest rates, and less mortgage debt, the mortgage ratio has declined significantly.”