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Is Now a Good Time to Rent? …Nope!

People often ask if now is a good time to buy a home, but nobody ever asks when a good time to rent is. Regardless, we want to make certain that everyone understands that today is NOT a good time to rent.

The Census Bureau recently released their 2017 first quarter median rent numbers. Here is a graph showing rent increases from 1988 until today:

Rent Increases

As you can see, rents have steadily increased and are showing no signs of slowing down. If you are faced with making the decision of whether or not you should renew your lease, you might be pleasantly surprised at your ability to buy a home of your own instead.

Bottom Line

One way to protect yourself from rising rents is to lock in your housing expense by buying a home. If you are ready and willing to buy, please give us a call.  We can help determine if you are able to today!

via Keeping Current Matters Thank you for your relevant content!


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Did You Know That Homeownership Can Impact Your Family’s Health?

The Impact of Homeownership on Family Health

People often talk about the financial benefits of homeownership. But you will see that there are also social benefits of owning your own home.

The National Association of Realtors recently released a study titled ‘Social Benefits of Homeownership and Stable Housing.’ The study confirmed a long-standing belief of most Americans:

“Owning a home embodies the promise of individual autonomy and is the aspiration of most American households. Homeownership allows households to accumulate wealth and social status, and is the basis for a number of positive social, economic, family and civic outcomes.”

Here is the section of the report that quoted several studies concentrating on the impact homeownership has on the health of family members. Here are some of the major findings on this issue revealed in the report:

  • There is a strong positive relationship between living in poor housing and a range of health problems, including respiratory conditions such as asthma, exposure to toxic substances, injuries and mental health. Homes of owners are generally in better condition than those of renters.
  • Findings reveal that increases in housing wealth were associated with better health outcomes for homeowners.
  • Low-income people who recently became homeowners reported higher life satisfaction, higher self-esteem, and higher perceived control over their lives.
  • Homeowners report higher self-esteem and happiness than renters. For example, homeowners are more likely to believe that they can do things as well as anyone else, and they report higher self-ratings on their physical health even after controlling for age and socioeconomic factors.
  • Renters who become homeowners not only experience a significant increase in housing satisfaction but also obtain a higher satisfaction even in the same home in which they resided as renters.
  • Social mobility variables, such as the family financial situation and housing tenure during childhood and adulthood, impacted one’s self-rated health.
  • Homeowners have a significant health advantage over renters, on average. Homeowners are 2.5 percent more likely to have good health. When adjusting for an array of demographic, socioeconomic, and housing–related characteristics, the homeowner advantage is even larger at 3.1 percent.

via Keeping Current Matters

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Housing News: A Week In Review

This is a fun time of year here in St. Petersburg, as the Honda Grand Prix roarsHonda Grand Prix of St Petersburg along our downtown waterfront. Make some VROOM in your schedule and check it out… you won’t be sorry.

Here are a few news/feature items happening in the housing industry.

The Real Estate Market Is Back
Money Magazine says… The Real Estate Market is Back!
In the last year, home prices increased in 92 of the country’s 100 largest metropolitan areas
Housing RecoveryRising prices helped lift 1.7 million homes above water in 2012, including 200,000 in the final three months of the year, according to a report released by real estate data and technology firm CoreLogic. http://bit.ly/15Ycvyc
Buying A Home Is Cheaper Than Renting Buying a Home 44% Cheaper than Renting Despite Rising Home Prices
Low mortgage rates have kept homeownership less expensive than renting in all 100 large metros.
Micro ResidencesThe micro unit trend continues. U.S. cities are developing residences under 400 square feet to accommodate more singles, students, and elderly.
Street Lights Of The FutureThe Streetlight of the Future Will Do So Much More Than Light Your Street
It could also catch criminals, broadcast WiFi and… detect meth labs?