The Early Bird’s Guide to Buying a Home

Planning to buy a home this spring? Then rightnow–yes, during these last days of winter–is the time to get rolling.

“Spring is peak home-buying season, which means you’re going to have a ton of competition from other buyers,” says Peggy Yee, supervising broker at Frankly Realtors in Vienna, VA. Hence, winter is theideal time to get ahead of the curve, but how?Follow these steps and you’ll be way ahead of the pack once the spring home-buying season heats up.

Step No. 1: Find abuyer’s agent

Teaming up with a buyer’s agent during the winter offers several advantages. For starters, becausebusiness is slow, anagent can take the time to help you identify what type of home you wantand educate you on the local market so that you’ll have realistic expectations of what you’ll be able to find in a few months.

Now is the time to get your debt load under control

–Subprime auto loan debt: Subprime loans in the auto industry are those made to borrowers with a credit score of 660 or lower. New loans to borrowers in that category have nearly tripled since 2009. And delinquency rates are rising on those loans. In the third quarter of 2016, delinquency rates rose to their highest level since 2010.

–Credit card debt: After leveling off following the financial crisis of 2007-2009, credit card debt is again climbing quickly toward $1 trillion.

–Personal loans: The growth of online peer-to-peer (P2P) lending makes it difficult to account for rising debt levels taken on by individuals. Many websites that facilitate this lending brag that bad credit is no impediment to getting a loan. But P2P loans have a higher impact in case of a default, since the lender is not a well-funded financial institution

Bottom line: More Americans owe more debt than at any time since the last recession. According to, the average household with credit card debt has balances totaling $16,061. And the average household with any kind of debt owes $132,529, including mortgage debt.

Should Millenials Put Off Buying a Home?

Land Ownership has always been part of the fabric of our nation. The founding fathers considered it so important that Thomas Jefferson was the champion of making land ownership a prerequisite for voting because he believed that only landowners had a stake in the future of the country. Of course Alexander Hamilton and the federalists won that debate but property rights and ownership remain the foundation of the American Dream. George Morris, CEO CENTURY 21 Everest Realty Group and Sales Agent amp; Team Leader: Jona Gamboato joined GTU to talk about the importance of home ownership today.

They say that the share of 18-34 year olds buying homes is at a 30-year low. National studies say that 93% of Millenials say they are likely to buy a home “someday, George says it’s important to start young and get in the game now.

Many people do not understand that they can buy a home. We encourage your viewers to reach out to us and we can connect them with a good team of loan officers. There are many programs for first time homebuyers, veterans and low-income families. Once we know the price range, we can help them find the home that they are looking for, Jona explained.

Benefits of Home Ownership:

  • Tax benefits
  • Rental payments build a future for the Landlord, not the tenant.
  • Year-over -year the asset will increase an average of 3% in addition to the equity you pay down. A home is the most important savings account for most people. It’s about planning for your future!

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