Renters Grow More Optimistic About Home Buying: "Here Comes the Sun"

By
Mortgage and Lending with www.genemundt.com - 708.921.6331 NMLS #216987

 

 

Renters Grow More Optimistic About

Home Buying ... "Here Comes the Sun"

 

 

 

 

      I just thought this song perfectly set the tone for my post's message today. Always a favorite song (and performer) of mine too.

 
 
      I feel, what better than the line ... "it's been a long, cold, lonely winter", to correctly describe exactly what the housing market has been suffering through these last few years??
 
 
      But the timely, good news now being reported more and more often is this:  Many housing markets across the U.S. are seeing signs of improvement.   And that positive message is conveyed perfectly within this song, as well.  "Here Comes the Sun" ... better times are possibly ahead ...
 
 
 
      A recent survey released via  PulteGroup, proves that a large percentage of Americans still hope to join the ranks of those that call themselves ... "home owner". And they hope to do it sooner than later.
 
 
      What does this  Pulte Group/Russell Research survey's statistics tell us? In part, that:
 
 
  • 60% of renters who say they WANT to buy a home in the future, have increased their intent to buy compared to tho percentage of those reporting that intent a year ago.
  • 61% of the above-group now say they plan to purchase their home within the coming two years.
 
     
     The biggest hurdle to home ownership?  Results of this survey shows that it remains the down payment.  54% of those hoping to buy say they don't have the money saved for a down payment on a home.
 
 
      This last stat proves a bit worrisome to me .. and somewhat frustrating too.  I believe that many hoping to buy still stubbornly cling to the belief that they need a larger down payment than necessary, perhaps even a full 20% down.
 
 
      Getting the message across, that there ARE mortgage financing programs available that allow for smaller down payments has not proven to be easy for mortgage lenders or real estate professionals.
 
 
 
      But it IS true ... and depending on the location where a potential buyer is hoping to purchase, local options may also exist beyond the more nationally well-known mortgage products.
 
 
 
      USDA-RD (rural development financing) is also an often-overlooked mortgage option, but one that can greatly figure into a buyer's buying options if the property is located within a region covered by this program. USDA-RD offers very attractive features to those capable of utilizing it.
 
 
      IMO, the best bet always remains ... if you aren't sure what options for home buying exist ... if you don't know what YOUR personal options are ...talk to an experienced, professional mortgage lender.  Get the facts!
 
 
      But the recent PulteGroup survey proves ... optimism is once again growing about the future and buying homes across our nation.
 
 
      I say, "Here Comes the Sun"!
 
 
 
 
 
 
      * Discover what home buying options exist for you! Contact me today. We'll get you started on your way to becoming a home owner.
I can be found at any of the following:
Direct: 815.277.4036
Cell/Text: 708.921.6331
Mobile:  m.genemundt.com
Skype: 630.219.1316
 
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Gene Mundt

Regional Manager - Mortgage Lender

American Portfolio Mortgage Corp.

                                                                    Personal NMLS #216987

NMLS # 175656

 

Gene Mundt, Mortgage Lender, a Lender with 36 years of #mortgage experience, will offer you exemplary mortgage service and advice when seeking:  #Conventional, #FHA, #VA, #Jumbo, #USDA, and Portfolio Loans in #Chicago and the greater Chicagoland region, including:  The #Lincoln-Way Area, #Will County, (#New Lenox, #Frankfort, #Mokena, #Manhattan, #Joliet, #Shorewood, #Crest Hill, #Plainfield, #Bolingbrook, #Romeoville, #Naperville, #Wilmington, #Peotone, etc.), #DuPage County, the City of Chicago, #Cook County, and elsewhere within IL.  Gene Mundt, Mortgage Lender can be contacted at: 

815.524.2280 or via his email: gmundt@goapmc.com.

Contact Gene Mundt, Mortgage Lender soon!

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Topic:
Real Estate Market Trends
Location:
Illinois Will County
Groups:
Chicagoland and Northern Illinois Real Estate
Realtors®
Mortgages
1st Time Buyers
Chicago Area Real Estate BUZZ!
Tags:
buying sentiment
home buying vs renting
housing market
housing market outlook
homebuying survey
home builders
home buying

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Ambassador
1,888,490
Judi K Barrett
Judi Barrett~Integrity Real Estate Services~Idabel, Oklahoma - Idabel, OK
Broker/Owner, Integrity Real Estate Services -IDAB

Gene, this is an excellent post and I agree that we both had our minds on the same topic today.  I suggested. 

Jun 03, 2012 07:05 PM #1
Ambassador
1,310,823
Norma Toering
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes & Beach Cities Homes in L.A. CA

Gene - Even though June gloom weather arrived right on schedule in Palos Verdes, the local housing market is enjoying a few rays of sunshine and good news.

Jun 03, 2012 07:39 PM #2
Rainmaker
692,875
Gene Mundt
www.genemundt.com - 708.921.6331 - New Lenox, IL
Chicagoland Mortgage Lender - 37 yrs experience

Judi:  I'd say, as a whole, I've been feeling alot of positive vibes regarding the markets direction as of late.  Glad you're feeling it too!  Hope you're reaping your share of all that positive news in Idabel, OK ...

Norma:  Glad to hear that Palos Verdes is also receiving those good rays!  We're all ready ... it's been a long stretch ...

Gene

Jun 04, 2012 01:29 AM #3
Ambassador
2,391,402
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Love the song.  Love the article. 

Sadly, I have no faith in projections.  Too much uncertainty. 

I'll just keep my fingers crossed and think about today.

Jun 04, 2012 04:24 AM #4
Rainmaker
1,629,202
Debbie Gartner
Floor Coverings International Westchester NY & Stamford CT - White Plains, NY
The Flooring Girl - Westchester hardwood flooring

Yes, this is great news and I LOVE this song and you are so right, it is so perfect.  Now, it's off to work I go with a good attitude thanks to you.

Jun 04, 2012 04:36 AM #5
Ambassador
901,137
Margaret Woda
Long & Foster Real Estate, Inc., Crofton, MD 21114 - Crofton, MD
Maryland Real Estate & Military Relocation

I'm excited to attend a house warming open house this weekend for a first-time buyer who recently closed with a 95% Conventional loan.  Even I didn't know these loans existed any more, but the buyer's uncle is a loan officer and he recommended it.  The word really isn't getting out!

Jun 04, 2012 04:53 AM #6
Ambassador
977,454
Amanda and Jared Christiansen, YOUR Fort Wayne Realtors
Century 21 Bradley (260)704-0843 - Fort Wayne, IN
Century 21 Bradley.

That is one of my favorite songs EVER.  Great message on your post as well.  Congrats on the feature!                              

Jun 04, 2012 05:07 AM #7
Ambassador
1,537,358
Tammy Lankford
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Your Lake Sinclair Expert (706-485-9668)

We had a market spurt in early spring and now... not so much.  I'm hoping those who "want" to buy are saving money and paying bills on time... so they will be able to purchase a home in the next two years.  I recently had a huge amount of people who did not qualify.

Jun 04, 2012 05:11 AM #8
Rainmaker
1,246,287
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Gene - I think everyone who wants to purchase a home needs to call a lender because there are lot of people out there who can actually afford to buy and not know it.

Jun 04, 2012 05:20 AM #9
Rainmaker
648,236
Richard & Beth Witt
RE/MAX Wittney Estates 516-795-6900 www.longislandrealestatesearch.com - Massapequa, NY
Broker/Owner RE/MAX Wittney Estates Long Island NY

Great Song... Great Post... and here's to the Coming of the Sun!   You have a bright sunny day now!

Jun 04, 2012 06:19 AM #10
Rainmaker
893,858
Michael Setunsky
Michael's Commercial LLC - Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Gene, the survey shows renters are ready to buy. The word need to get out with the mortgage options available. I would think a lot of these renters don't know of these programs.

Jun 04, 2012 06:46 AM #11
Rainmaker
692,875
Gene Mundt
www.genemundt.com - 708.921.6331 - New Lenox, IL
Chicagoland Mortgage Lender - 37 yrs experience

Most of the time, I agree with you Lenn.  Once in awhile, I just need a dose of optimism.   Guess I was in that mood ...

So glad to hear that the song helped perk you up for your week, Debbie! 

Margaret:  Yes it is!!  You just helped spread it .. and prove that they exist.  Every time you tell your story, people learn.  One by one ... one by one ... we'll get the message out there ...

Christiansen Team:  Thank you!  Glad I posted a song you enjoyed so greatly ...

I agree Michelle ... I've found that myself.  Sometimes there are PLEASANT surprises when you talk to a lender too ...  always great to see you ... thanks for writing ...

Richard and Beth:  Thanks for all your kind words.  I hope the song proved uplifting ...

Michael:  You're right, sadly.  But we can write posts here on AR and elsewhere and try to educate them ... plus other techniques that go hand-in-hand.  Let me see.  I've had well over a hundred readers for this post.  If each one goes out and tells the news ... we've accomplished something!

Gene

 

Jun 04, 2012 09:02 AM #12
Rainer
277,279
Steven Cook
No Longer Processing Mortgages. - Tacoma, WA
- Pierce, King, Kitsap, Thurston, Mason Counties

Gene -- The USDA with 0 down is a good product for those in the areas it covers.  My one concern with it, is their change last fall that makes the Mortgage Insurance Payment permanent (i.e. - you have to pay MIP as long as you have the loan.)

Jun 04, 2012 10:08 AM #13
Rainmaker
692,875
Gene Mundt
www.genemundt.com - 708.921.6331 - New Lenox, IL
Chicagoland Mortgage Lender - 37 yrs experience

Steven:  True, this particular type of loan seems to waiver some with what it offers as options ... and availability.  Welcome to Government loans, right?  But in the right circumstances, and utilized for the correct person and scenario, they ARE an entry into homeownership.  It's up to you and I to educate them to the pros and cons prior to their final decision.  I know your clients rely on your for that expert guidance.  Local options may exist too ... so I'm hoping they find the courage to contact you or I for that valuable info ...

Greal to hear from you!  Hope all is going well out in and around Tacoma!

Gene

Jun 04, 2012 12:14 PM #14
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