Kary Manering Realtor

93% of Americans Believe a Home Is a Better Investment Than Stocks A recent Survey of Consumer Finances study released by the Federal Reserve reveals the net worth of homeowners is forty times greater than that of renters. If you’re wondering if homeownership is a good investment, the study clearly answers that question, and the answer is yes. Do Americans believe a home is a better investment than stocks? In a post on the Liberty Street Economics blog, the Federal Reserve Ba...nk of New York notes that 93.3% of Americans believe buying a home is definitely or probably a better investment than buying stocks. The survey also shows a wide range of reasons why Americans feel that way, with the top answers being that housing prices are less volatile, it provides stability in a desired living environment, and for tax reasons. The data show how strongly Americans believe in homeownership as an investment. That belief is warranted. The Liberty Street Economics...

Multigenerational Housing Is Gaining Momentum [INFOGRAPHIC] If your house is feeling a little cramped with the addition of adult children or aging parents, it might be time to consider a move-up into a multigenerational home that better suits your changing needs. With benefits that include a combined homebuying budget and shared caregiving duties, an increasing number of households are discovering the value of a multigenerational home. With such high demand for houses today, now is a great time to sell so you can upgrade to a multigenerational home that may better suit your evolving needs.

Latest Jobs Report: What Does It Mean for You & the Housing Market? Last Friday, the Bureau of Labor Statistics released a very encouraging jobs report. The economy gained 916,000 jobs in March well above expert projections of 650,000 to 675,000. The unemployment rate fell again and is now at 6%. What does this mean for you? Our lives are deeply impacted by our nation’s economy. The better the economy is doing overall, the better most individuals in the country will do as w...ell. Jason Schenker of Prestige Economics says, "People are getting back to work and the vaccine isn't just inoculating the population, it's clearly inoculating the economy." What does this mean for residential real estate? Today, the biggest challenge for homebuyers is the lack of homes currently for sale. With listing inventory down 52% from a year ago, bidding wars are skyrocketing. As a result, home prices are climbing. One answer to this challenge is to build more homes to...

Your Tax Refund and Stimulus Savings May Help You Achieve Homeownership This Year If you’re planning to buy a home this year, saving for a down payment is one of the most important steps in the process. One of the best ways to jumpstart your savings is by starting with the help of your tax refund. This year, the Internal Revenue Service (IRS) estimates Americans can expect an average refund of $2,925 when filing their taxes. Thanks to programs from the Federal Housing Authori...ty, Freddie Mac, and Fannie Mae, many first-time buyers can purchase a home with as little as 3% down. In addition, Veterans Affairs Loans allow many veterans to put 0% down. You may have heard the common myth that you need to put 20% down when you buy a home, but thankfully for most homebuyers, a 20% down payment isn’t actually required. It’s important to work with your real estate professional and your lender to understand all of your options. Not enough money from your tax...

Buyer Competition Is Good News for Sellers [INFOGRAPHIC] With so many buyers looking for homes to purchase and so few houses available today, there’s a substantial increase in bidding wars, and homes are selling fast. According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR), on average, houses are receiving over four offers from buyers and they’re selling in less than three weeks. If you’re ready to make a move, let’s connect today so you can sell your house while the market is in your favor.

Is Homeownership Still Considered Part of the American Dream? Since the birth of our nation, homeownership has always been considered a major piece of the American Dream. As Frederick Peters reports in Forbes: The idea of a place of one’s own drives the American story. We became a nation out of a desire to slip the bonds of Europe, which was still in many respects a collection of feudal societies. Old rich families, or the church, owned all the land and, with few exceptions, everyone else was a tenant. The magic of America lay not only in its sense of opportunity, but also in the belief that life could in every way be shaped by the individual. People...

What It Means To Be in a Sellers’ Market If you’ve given even a casual thought to selling your house in the near future, this is the time to really think seriously about making a move. Here’s why this season is the ultimate sellers’ market and the optimal time to make sure your house is available for buyers who are looking for homes to purchase. The latest Existing Home Sales Report from The National Association of Realtors (NAR) shows the inventory of houses for sale is stil...l astonishingly low, sitting at just a 2-month supply at the current sales pace. Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in...

2021 Real Estate Myth Buster [INFOGRAPHIC] Some Highlights There are a lot of misconceptions about buying or selling a home today, making it challenging to know exactly how to navigate the current real estate landscape.... Here’s a little clarity when it comes to 5 common myths about the 2021 housing market. Let’s connect to discuss your needs and so you can decipher facts from fiction in our local market. See more

Why You Should Think About Listing Prices Like an Auction’s Reserve Price For generations, the homebuying process never really changed. The seller would try to estimate the market value of the home and tack on a little extra to give themselves some negotiating room. That figure would become the listing price of the house. Buyers would then try to determine how much less than the full price they could offer and still get the home. The asking price was generally the ceiling of the negotiation. The actual sales price would almost always be somewhat lower than the list price. It was unthinkable to pay more than what the seller was asking. Today is different. The...

What Credit Score Do You Need for a Mortgage? According to data from the most recent Origination Insight Report by Ellie Mae, the average FICO score on closed loans reached 753 in February. As lending standards have tightened recently, many are concerned over whether or not their credit score is strong enough to qualify for a mortgage. While stricter lending standards could be a challenge for some, many buyers may be surprised by the options that are still available for borrowers with lower credit scores. The fact that the average American has seen their credit score go up in recent years is a great sign of financial health. As someone’s score rises...

Americans See Major Home Equity Gains [INFOGRAPHIC] Some Highlights Today’s home price appreciation is driving equity higher throughout the country.... If your needs are changing and you’re ready for a new home, your equity may be a great asset to power your next move. Now is a great time to put your equity toward a down payment on the home of your dreams. See more

What Is the Strongest Tailwind to Today’s Recovering Economy? Last year started off with a bang. Unemployment was under 4%, forecasters were giddy with their projections for the economy, and the residential housing market had the strongest January and February activity in over a decade. Then came the announcement on March 11, 2020, from the World Health Organization declaring COVID-19 a worldwide pandemic. Two days later, the White House declared it a national emergency. Businesses and schools were forced to close, shelter-in-place mandates were enacted, and the economy came to a screeching halt. As a result, unemployment in this country skyrocketed to...

Why Selling Your House on Your Own in 2021 Is a Mistake There are many benefits to working with a real estate professional when selling your house. During challenging times, like what we face today, it becomes even more important to have an expert you trust to help guide you through the process. If you’re considering selling on your own, known in the industry as a For Sale By Owner (FSBO), it’s critical to consider the following items. 1. Your Safety Is a Priority Your safety should always come first, and that’s more crucial than ever given the current health situation in our country. When you FSBO, it is incredibly difficult to control entry into your...

Why It’s Important to Price Your House Right Today Even in today’s sellers’ market, setting the right price for your house is one of the most valuable things you can do. According to the U.S. Economic Outlook by the National Association of Realtors (NAR), existing home prices nationwide are forecasted to increase by 4.5% in 2021. This means experts anticipate home values will continue climbing next year. Danielle Hale, Chief Economist for realtor.com, notes: We expect price gains to ease somewhat in 2021 and end 5.7% above 2020 levels, decelerating steadily through the spring and summer, and then gradually reaccelerating toward the end of the...

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Did You Outgrow Your Home in 2020? It may seem hard to imagine that the home you’re in today whether it’s your starter home or just one you’ve fallen in love with along the way might not be your forever home. Many needs have changed in 2020, and it’s okay to admit if your house no longer fits your lifestyle. If you’re now working remotely, facilitating virtual school, trying to exercise at home, or simply just spending more time in your own four walls, you may be bursting... at the seams in your current house. According to the latest Home Price Insights from CoreLogic, prices have appreciated 7.3% year-over-year. At the same time...

The Do’s and Don’ts after Applying for a Mortgage Once you’ve found the right home and applied for a mortgage, there are some key things to keep in mind before you close. You're undoubtedly excited about the opportunity to decorate your new place, but before you make any large purchases, move your money around, or make any major life changes, consult your lender someone who is qualified to tell you how your financial decisions may impact your home loan. Below is a list of t...hings you shouldn’t do after applying for a mortgage. They’re all important to know or simply just good reminders for the process. 1. Don’t Deposit Cash into Your...