Homeward Bound October 2022 – The month of October can be a spooky month, maybe even a scary month with monstrous problems. Yikes!! Well maybe not, but words like that seem to be popping up everywhere as kids and adults alike look forward to Halloween.
In fact, according to the USA Today, adults spend more on themselves to celebrate Halloween than any other day during the year. I get that. Especially if they want to hang out with the kids to go trick or treating, or to a Halloween party of some kind.
For many homeowners and home buyers though, they are truly scared. Scared to death of how in the world they are going to get out of their house and into their next one (the trick).
Homeward Bound October 2022: If you or a friend are thinking about selling, make sure to choose a real estate company you can trust!
A real estate company with experience, proven results and a give-back philosophy!
My Treat: As a result of working with over hundreds of families, we have developed a special program to help home sellers and homebuyers. We will guarantee the sale of their present home at a price agreeable to them and in the unlikely event their home does not sell, we’ll buy it. Now that is a how you turn a trick into a real treat.
AND remember… YOUR referrals help the Community.
My heart breaks for many young people and families who will not be able to enjoy this fun time of the year out trick or treating or going to Halloween parties.
As you know, tragedy falls on many in this life. Congenital heart disease is the number 1 birth defect worldwide. Each year, 1.3 million children are born with congenital heart disease. Sadly, 93% of them are born in a country that cannot provide them the necessary lifesaving care.
This year my team and I are on a mission to raise funds for Rotary Foundation! For years, Rotary Foundation has established itself as one of the most respected foundations connecting more than thousands of volunteers who have a desire to help with those who need help the most.
Thanks to all of our great customers, we were able to donate over $10,000 to a Global Grant which will be used in the Philippines to help children that were born with Congenital Heart Disease.
As you know, we love making guarantees!
Like our Buyer Satisfaction Guarantee:
Love the home, or we’ll buy it back!
Or our Seller Guarantee: Your Home Sold or We’ll Buy It! And we guarantee that a portion of our income WILL go to a very worthy cause like Rotary Foundation, Canine Castaways, Shop with a cop!
Call me today for a free consultation. I am here to help with your real estate needs.
The True Strength of Homeowners Today
The real estate market is on just about everyone’s mind these days. That’s because the unsustainable market of the past two years is behind us, and the difference is being felt. The question now is, just how financially strong are homeowners throughout the country? Mortgage debt grew beyond 10 trillion dollars over the past year, and many called that a troubling sign when it happened for the first time in history.
Recently Odeta Kushi, Deputy Chief Economist at First American, answered that question when she said:
“U.S. households own $41 trillion in owner-occupied real estate, just over $12 trillion in debt, and the remaining ~$29 trillion in equity. The national “LTV” in Q2 2022 was 29.5%, the lowest since 1983.”
She continued on to say:
“Homeowners had an average of $320,000 in inflation-adjusted equity in their homes in Q2 2022, an all-time high.”
What Is LTV?
The term LTV refers to loan to value ratio. For more context, here’s how the Mortgage Reports defines it:
“Your ‘loan to value ratio’ (LTV) compares the size of your mortgage loan to the value of the home. For example: If your home is worth $200,000, and you have a mortgage for $180,000, your LTV ratio is 90% — because the loan makes up 90% of the total price.
You can also think about LTV in terms of your down payment. If you put 20% down, that means you’re borrowing 80% of the home’s value. So your LTV ratio is 80%.”
Why Is This Important?
This is yet another reason we won’t see the housing market crash. Home equity allows homeowners to be in control. For example, if someone did need to sell their home, they likely have the equity they need to be able to sell it and still put money in their pocket. This was not the case back in 2008, when many owed more on their homes than they were worth.
Homeowners today have more financial strength than they have had since 1983. This is a combination of how homeowners have handled equity since the crash and rising home prices of the last two years. And this is yet another reason homeownership in any market makes sense.