Paramount Mortgage - Lender's Blog

Buying vs. Renting: State by State

Homeownership remains at the heart of the American dream. The benefits of homeownership can far outweigh those of renting over the long haul. Owning a piece of the American dream provides a sense of financial security that renting lacks. For instance, a homeowner can tap the equity in their home to reach other financial goals, such as retirement expenses. As a renter in any state, a person can pocket some of the expenses that homeowners face, such as landscaping costs, but at the greater potential cost of leaving less options open years down the road.

Renovation Spending is Up with Millennials and First-Time Homebuyers

Millennials who renovated their homes spent an average $26,200 last year on the upgrades – 7% more than the previous year, according to the Houzz & Home Survey.

First-time homebuyers spent $33,800, representing 22 percent more.

Millennials are becoming homeowners much later than baby boomers did, but when they get there, they’re spending more for renovations, a positive sign of confidence in the housing market. The results are based on more than 100,000 responses to the survey, which was emailed to registered users of Houzz in the United States.

What a Seller’s Market Means For You

In our recent newsletter and blog, we shared information about housing market trends. The numbers, including an increase of home sales and a decrease in supply, indicate that 2017 is and will be a seller’s market.

By The Numbers – First-Time Home Buyers

Who are today’s first-time home buyers? To illustrate the typical first-timer, the New York Times drew information from the 2016 Profile of Home Buyers and Sellers, published annually by the National Association of Realtors.

 

Thanking First Responders

A hero is a person who is admired or idealized for courage, outstanding achievements, or noble qualities. A hero steps up when help is needed, no matter how difficult or dangerous.

By The Numbers – Home Sales in March

Home prices and sales posted strong gains in March, according to a survey by national realtor Redfin; and 2017 remains on track to be the fastest housing market on record.

$273,000 – Median sale price

8.9% – Home sales increase over last year

13% – Number of homes for sale decrease compared to last March

Tax Day Tips

Happy Tax Day! If you’re wondering why we would wish that on April 18, click here. Still, we understand that tax day is simply not the happiest of holidays.

All the Single Ladies… are Buying Homes

The news and research about women and money can be disappointing at times. Women earn less than their male counterparts, pay harsher workplace penalties for pursuing parenthood, struggle more with debt, and save less for retirement.

But there’s one area of personal finance where single women are outpacing men in the U.S., and it’s a significant one: home ownership. Data from the National Association of Realtors shows that single women account for 17 percent of homebuyers in the U.S., compared with 7 percent of single men.

Top 5 Real Estate Markets this Spring

As buyers gear up for what could be one of the strongest home buying seasons in recent memory, Ten-X, an online real estate marketplace, released its Top Single-Family Housing Markets Report for spring which ranks the nation’s 50 largest housing markets according to current and forecasted housing data. The top five showed a combination of strong demand, home price appreciation and economic and demographic growth.

25 Famous Proverbs, as Told by a Class of First Graders

This has nothing to do with mortgages and real estate, but it’s just too funny not to share!

A first-grade teacher presented each child in her class the first half of a well-known proverb and asked them to come up with the second half. It's hard to believe these were actually done by first graders. Their insight and humor may surprise you.

1. You can lead a horse to water but....... how?

2. Strike while the.................................. bug is close.

3. It's always darkest before................... Daylight Saving Time.

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