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

By
Real Estate Mortgage Broker with www.genemundt.com 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

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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, 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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Rainmaker
516,742
Richard & Beth Witt
Broker/Owner RE/MAX Wittney Estates Long Island NY
RE/MAX Wittney Estates 516-795-6900 www.longislandrealestatesearch.com

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

June 04, 2012 06:19 AM
Rainmaker
863,476
Michael Setunsky
Your Commercial Real Estate Link to Northern VA
Michael's Commercial LLC

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.

June 04, 2012 06:46 AM
Rainmaker
636,971
Gene Mundt
Mortgage Lender - Chicago/Chicagoland Mortgages
www.genemundt.com

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

 

June 04, 2012 09:02 AM
Rainer
276,566
Steven Cook
- 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.)

June 04, 2012 10:08 AM
Rainmaker
636,971
Gene Mundt
Mortgage Lender - Chicago/Chicagoland Mortgages
www.genemundt.com

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

June 04, 2012 12:14 PM
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Rainmaker
636,971

Gene Mundt

Mortgage Lender - Chicago/Chicagoland Mortgages
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