Homeownership | Jordan Dove Las Vegas REALTOR http://jordandove.com Jordan C. Dove Thu, 28 Dec 2023 02:28:27 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 http://jordandove.com/wp-content/uploads/2020/12/cropped-logoblacktransJDPNG-32x32.png Homeownership | Jordan Dove Las Vegas REALTOR http://jordandove.com 32 32 Should I Buy a Home Right Now in 2022? http://jordandove.com/2022/07/14/should-i-buy-a-home-right-now-in-2022/ http://jordandove.com/2022/07/14/should-i-buy-a-home-right-now-in-2022/#respond Thu, 14 Jul 2022 20:12:58 +0000 http://jordandove.com/?p=3638 Should I Buy a Home Right Now?
Should I Buy a Home Right Now? | MyKCM

If you’ve been thinking about buying a home or rental properties like canary wharf flats to rent, you likely have one question on the top of your mind: should I buy right now, or should I wait? While no one can answer that question for you, here’s some information that could help you make your decision.

The Future of Home Price Appreciation

Each quarter, Pulsenomics surveys a national panel of over 100 economists, real estate experts, and investment and market strategists to compile projections for the future of home price appreciation. The output is the Home Price Expectation Survey. In the latest release, it forecasts home prices will continue appreciating over the next five years (see graph below):

Should I Buy a Home Right Now? | MyKCM

As the graph shows, the rate of appreciation will moderate over the next few years as the market shifts away from the unsustainable pace it saw during the pandemic. After this year, experts project home price appreciation will continue, but at levels that are more typical for the market. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says: 

“People should not anticipate another double-digit price appreciation. Those days are over. . . . We may return to more normal price appreciation of 4%, 5% a year.”

For you, that ongoing appreciation should give you peace of mind your investment in homeownership is worthwhile because you’re buying an asset that’s projected to grow in value in the years ahead. Explore the perks of new construction homes in Woodland Hills, featuring the latest in modern design.

What Does That Mean for You?

To give you an idea of how this could impact your net worth, here’s how a typical home could grow in value over the next few years using the expert price appreciation projections from the Pulsenomics survey mentioned above (see graph below):

Should I Buy a Home Right Now? | MyKCM

As the graph conveys, even at a more typical pace of appreciation, you still stand to make significant equity gains as your home grows in value. That’s what’s at stake if you delay your plans.

Bottom Line

If you’re ready to become a homeowner, know that buying today can set you up for long-term success as your asset’s value (and your own net worth) is projected to grow with the ongoing home price appreciation. Let’s connect to begin your homebuying process today.

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Is Homeownership Still the American Dream? http://jordandove.com/2022/07/06/is-homeownership-still-the-american-dream/ http://jordandove.com/2022/07/06/is-homeownership-still-the-american-dream/#respond Wed, 06 Jul 2022 19:29:55 +0000 http://jordandove.com/?p=3631 Is Homeownership Still the American Dream?
Is Homeownership Still the American Dream? | MyKCM

Defining the American dream is personal, and no one individual will have the same definition as another. But the feelings it brings about – success, freedom, and a sense of prosperity – are universal. That’s why, for many people, homeownership remains a key part of the American dream. Your home is your stake in the community, a strong financial investment, and an achievement to be proud of.

A recent survey from Bankrate asked respondents to rank achievements as indicators of financial success, and the responses prove that owning a home is still important to so many Americans today (see graph below):

Is Homeownership Still the American Dream? | MyKCM

As the graph shows, homeownership ranks above other significant milestones, including retirement, having a successful career, and earning a college degree.

That could be because owning a home is a significant wealth-building tool and provides meaningful financial stability. The National Association of Realtors (NAR) explains:

Homeownership builds financial security. With 65.5% of Americans owning homes, the net worth of a typical homeowner is nearly 40 times the net worth of a non-owner.”

There are other ways your home acts as more than just a roof over your head, too. The Mortgage Reports highlights a few of the many benefits homeowners enjoy, including:

  • Your equity (and wealth) grows through home price appreciation.
  • Your housing costs are fixed – and that can help combat rising costs from inflation.
  • You’ll have greater privacy and the opportunity to customize your living space.

Plus, homeowners tend to be more active in their community. Like NAR says:

“Living in one place for a longer amount of time creates and [sic] obvious sense of community pride, which may lead to more investment in said community.”

What Does That Mean for You?

If your definition of the American Dream involves greater freedom and prosperity, then homeownership could play a major role in helping you achieve that dream. When you set out to buy, know there are incredible benefits waiting for you at the end of your journey. You’ll have a place you can call your own, feel most comfortable, and grow your wealth.

First American puts it best, saying:

Homeownership remains central to the pursuit of the American Dream. It is a critical driver of economic mobility, delivering financial and social advantages. . . .”

Bottom Line

Buying a home is a powerful decision and a key part of the American Dream. And if homeownership is part of your personal dreams this year, let’s connect and start the process today.

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Should I Buy Now or Wait? [INFOGRAPHIC] http://jordandove.com/2021/04/30/should-i-buy-now-or-wait-infographic/ http://jordandove.com/2021/04/30/should-i-buy-now-or-wait-infographic/#respond Fri, 30 Apr 2021 22:33:32 +0000 http://jordandove.com/?p=3307 Should I Buy Now or Wait? [INFOGRAPHIC]
Should I Buy Now or Wait? [INFOGRAPHIC] | MyKCM

Some Highlights

  • If you’re thinking that waiting a year or two to purchase a home might mean you’ll save some money, think again.
  • Mortgage interest rates are currently very low, but experts across the board are forecasting increases in both home prices and interest rates.
  • Buying a home now means you’ll spend less in the long run. Let’s connect to put your homebuying plans in motion before home prices and mortgage rates climb even higher.
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