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GIULIANO HOME TEAM Blog

Thursday, May 30, 2019   /   by Sal Giuliano

IS HOUSING STILL AFFORDABLE?

The Ultimate Truth about Housing Affordability





There have been many headlines decrying an “affordability crisis” in the residential real estate market. While it is true that buying a home is less affordable than it had been over the last ten years, we need to understand why and what that means.


On a monthly basis, the National Association of Realtors (NAR), produces a Housing Affordability Index. According to NAR, the index…




“…measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national and regional levels based on the most recent price and income data.”



Their methodology states:




“To interpret the indices, a value of 100 means that a family with the median income has exactly enough income to qualify for a mortgage on a median-priced home. An index above 100 signifies that family earning the median income has more than enoug ...

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Thursday, June 21, 2018   /   by Sal Giuliano

It the American Dream still Affordable?

Homes are More Affordable in 44 out of 50 States





With both home prices and mortgage rates increasing this year, many are concerned about a family’s ability to purchase a major part of the American Dream – its own home. However, if we compare housing affordability today to the average affordability prior to the housing boom and bust, we are in much better shape than most believe.
In Black Knight’s latest monthly Mortgage Monitor, they revealed that in the vast majority of the country, it is actually moreaffordable to purchase a home today than it was between 1995 to 2003 when looking at mortgage payments (determined by price and interest rate) as compared to incomes. Home prices are up compared to 1995-2003, but mortgage rates are still much lower now than at that time. Today, they stand at about 4.5%. Here are the average mortgage rates for each of the years mentioned:

1995 – 7.93%
1996 – 7.81%
1997 – 7.6%
1998 ...

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Friday, June 15, 2018   /   by Sal Giuliano

Renovations or Not when selling your home?

Top 4 Home Renovations for Max ROI [INFOGRAPHIC]





Some Highlights:

Whether you are selling your home, just purchased your first home or are a homeowner planning to stay put for a while, there is value in knowing which home improvement projects will net you the most Return On Investment (ROI).
Minor bathroom renovations can go a long way toward improving the quality of your everyday life and/or impressing potential buyers.
Upgrading your landscaping or curb appeal helps get buyers in the door. These upgrades rank as the 2nd and 4th renovations for returns on investment.

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Thursday, June 14, 2018   /   by Sal Giuliano

What Children want in a home!

Parents Say Kids’ Opinions Matter Big When Buying a Home










A recent survey conducted by Harris Poll and released by SunTrust Mortgage found that “55% of homeowners with a child under the age of 18 at the time when they purchased their home said that the opinion of their offspring played a major role in their home buying decision.”


When the results were broken down by the parent’s age, millennials (those 18-36) led the way with 74% of homeowners saying that their child’s opinion was a factor in choosing which home to buy. Eighty-three percent of renters believe that their child’s opinion would be a deciding factor when looking to purchase a home.


So what features in a home are most important to kids?





Coming in at 57%, it should come as no surprise that gaining their own bedrooms was the top most-desirable feature of any home for kids, followed by a large back yard to play i ...

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Thursday, June 14, 2018   /   by Sal Giuliano

Lending Standards Too Loose…or Too Tight

Are Lending Standards Too Loose…or Too Tight?










With home values appreciating at record rates, some are concerned that we may be heading for another housing bubble like the one we experienced a decade ago. One of the major culprits of that housing boom and bust was the loosening of standards for mortgage credit.


In a study done at the University of North Carolina immediately after the crisis, it was revealed that:




“Lenders began originating large numbers of high risk mortgages from around 2004 to 2007, and loans from those vintage years exhibited higher default rates than loans made either before or after.”



A study by John V Duca, John Muellbauer, and Anthony Murphy concluded that those risky mortgages caused the housing crisis:




“Our findings indicate that swings in credit standards played a major, if not the major, role in driving the recent boom and bust in US house prices.”



How do today&r ...

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Elevate Real Estate Brokers
Sal Giuliano
401 S Kirkland Rd Ste. 310
Orlando, FL 32819
941-626-3069
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Kim Hibbs
Account Executive
Kim.Hibbs@hwahomewarranty.com
Cell: 512.987.4884
Customer Service: 888.492.7359
https://www.hwahomewarranty.com/


Betty Kedziora
Loan Officer
Office: 941.538.6123 <941.538.6123>
Mobile: 630.625.2435 <630.625.2435>
Fax: 941.256.2558
Betty.Kedziora@LHFS.com
NMLS #: 408864


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