by kramoltz@hotmail.com | Mar 13, 2023 | Home Buying, Mortgages + Lending, Real Estate Facts & Figures
1. First-time Buyers are Scarce. The first-time buyer share of the market dropped to 26% over the past year. Historically, first-time buyers buy around 40% of homes. The reason was the high prices and the rise in interest rates. Hopefully the price correction...
by kramoltz@hotmail.com | Dec 1, 2020 | Arizona and Its Amenities, Real Estate Facts & Figures
Phoenix metro is one of the top 10 metro areas with the largest home price appreciation and rate of return. Housing wealth accumulation is built up by paying off mortgage debt and by price appreciation. It takes time, but nationally, a person who purchased a typical...
by kramoltz@hotmail.com | Feb 10, 2015 | Home Buying, Mortgages + Lending
Here are four general rules of mortgage affordability you can use to help you determine how much debt you can handle when buying a home. What is your Income? You can typically afford a home priced two to three times your gross income. So if you earn $100,000,...