US Housing, A Global Marketplace The housing market is rapidly becoming an international marketplace with an increasing number of transactions representing global sales. According to the National Association of Realtors®2014 Profile of International Home Buying Activity, for the period April 2013 through March 2014, total international sales are estimated at $92.2B, an increase from the previous period’s level of $68.2B. Favorable exchange rates, affordable home prices and ri
5 Common Credit Score Myths Myths and misinformation abound in the world of credit scoring. Here are some of the most common credit scoring myths, and the truth of the matter: 1: Credit scoring used for pre-employment screening
Truth: Credit scores are not and have never been used by employers for employment screening purposes. Employers don’t even have access to credit scores.
Credit reports, which are different than credit scores, can be used for employment screening purp
Improvement In The Lending Environment A couple of recent solid reports on mortgages paint a picture of a market that’s healing, with loan access and demand rising. Recent mortgage reports indicate that consumer access to mortgages is opening up and demand is rising. Low interest rates are fostering rising demand in both existing and new homes. However, now the challenge is for available housing inventory to balance with the market demand. The demographic profile of consumers
First-time homebuyers are key to the housing rebound The typical first-time homebuyer is about 30 years old, and income gains for younger households have been weaker than average. Median household income was flat from 2008 to 2012 for households aged 25 to 34 years. Growth in the median income for all households was weak but did advance by 0.8% per year. Job and income growth will accelerate and help first-time homebuyers overcome rising house prices and enter the market. Mor
Location, location, location! We have all heard this refrain as it is referenced for property and home values in the real estate world. It signifies what you should look for when you are in the market for a new home. Proximity to urban areas, shopping, good schools, good zip codes, etc are good metrics. In the mortgage world it is more like relationships, relationships, relationships. Creating a relationship and developing an understanding one is based on communication a