Every three years the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400). In a recent Forbesarticle the National Association of Realtors’ (NAR)Chief Economist Lawrence Yun predicts that in 2016 the net worth gap will widen even further to 45 times greater. The graph below demonstrates the results of the last two Federal Reserve studies and Yun’s prediction:
Put Your Housing Cost to Work For You
Simply put, homeownership is a form of ‘forced savings’. Every time you pay your mortgage you are contributing to your net worth. Every time you pay your rent, you are contributing to your landlord’s net worth. The latest National Housing Pulse Surveyfrom NAR reveals that 80% of consumers believe that purchasing a home is a good financial decision. Yun comments:
“Though there will always be discussion about whether to buy or rent, or whether the stock market offers a bigger return than real estate, the reality is that homeowners steadily build wealth. The simplest math shouldn’t be overlooked.”
Bottom Line
If you are interested in finding out if you could put your housing cost to work for you through homeownership, meet with a real estate professional in your area who can guide you through the process.
Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.
You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.
Orange County Real Estate Sales Statistics – September 2015
Orange County saw 231 more homes sold in September 2015 than September 2014, a 12.8% increase. The average sales price increased by 11.52% and the median sales price increased by 12.79% from September 2014. Market times dropped by 2 days.
Orange
County
Homes
Sold
Average
Sales Price
Median
Sales Price
Average
Market Times
September 2015
2035
$222,454
$179,900
64
September2014
1804
$199,482
$159,500
66
Osceola County Real Estate Sales Statistics – September 2015
Osceola County home sales increased by 1.76%. Prices increased with the average sales price up 10.81% and the median price increased by 10%. Market times decreased by 3 days compared to September 2014.
Osceola
County
Homes
Sold
Average
Sales Price
Median
Sales Price
Average
Market Times
September 2015
579
$203,024
$165,000
68
September2014
569
$183,216
$150,000
71
Seminole County Real Estate Sales Statistics – September 2015
Seminole County residential sales increased 7.04% with 71 more homes sold in September 2015 compared to September 2014. The average sales price increased by 10.13% and the median price increased by 12.21%. Market times rose by 1 day.
Seminole
County
Homes
Sold
Average
Sales Price
Median
Sales Price
Average
Market Time
September 2015
699
$220,903
$193,000
52
September 2014
653
$200,578
$172,000
51
Lake County Real Estate Sales Statistics – September 2015
Residential sales in Lake County increased 11.94%, and the median sales price increased by 12.67% for the month compared to September 2014. Market times decreased by 1 day.
Lake
County
Homes
Sold
Average
Sales Price
Median
Sales Price
Average
Market Time
September 2015
585
$180,777
$169,000
77
September2014
508
$161,496
$150,000
78
Polk County Real Estate Sales Statistics – September 2015
Polk County saw166 more homes sold in September 2015 compared to September 2014, a 23.45% increase. The average sales price increased 6.32%, and the median sales price increased by 8.53%. Market times rose by 7 days.
Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.
You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.
Things To Do Orlando: Orange County Fall Home & Garden Show
The Orange County Home & Garden show is the place where attendees can get their projects planned and design problems solved. With thousands of square feet of exhibits, guests will find the latest in products and services for everything from builders, contractors, materials, decks, pools, spas, entertainment systems, storage, plants, landscape displays/materials, kitchenware and more.
In addition, the show will feature special celebrity guest Pete Nelson from Animal Planet’s “Treehouse Masters” (Saturday and Sunday only). Also appearing is Tom MacCubbin from the syndicated radio program “Better Lawns & Gardens” (Sunday only).
Information courtesy of Orlando Real Estate Expert Teri Isner and the Orlando Avenue Top Team.
Access Teri’s one-stop Orlando FL home search website. Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estatemarket. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale. You deserve professional real estate service!
You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.
As rates are inching up but still very affordable, buyers should remember that there is an alternative to a fixed rate mortgage that can provide the lowest cost of housing for the homeowners who understand the parameters.
A $300,000 fixed-rate mortgage at 4% has a principal and interest payment of $1,432.25 per month for the entire 30 year term. A 5/1 adjustable mortgage at 3% has a $167.43 lower payment for the first five years and then, can adjust, up or down, based on a predetermined index.
Another interesting fact is that the unpaid balance on the ARM at the end of the first five years is $4,624 lower than the fixed-rate mortgage. The total savings in the first five years on the ARM is $14,669.00.
Adjustable rate mortgages are not the right choice for everyone but buyers should at least consider the options based on their individual situation. It could be an obvious choice for a buyer who is only going to be in the home for five years or less.
Use the ARM Comparison worksheet to see what possible savings you could have based on your actual numbers. A trusted mortgage professional can help you to understand the advantages and disadvantages based on your situation. You need the facts to make the best decision.
Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.
You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.
Looking for a lovely home nestled within a gated community of renowned Vista Lakes? You have found it here! This spacious 4 bedroom, 3 bath home features separate dining and living rooms in addition to its large family gathering room. The kitchen boasts 42″ cabinetry, expansive counter-top work surfaces, and a breakfast bar as well as an eat-in area. An abundance of closet storage space provides room for everything. The split bedroom layout offers privacy. The large, fenced backyard is overlooked by a screened, covered patio which is ideal for entertaining. Vista Lakes Amenities Center is a spectacular clubhouse featuring three swimming pools, a fitness center, tennis courts, and the Residents’ Club. Community events celebrate the holidays and other frequent activities offer the residents many outdoor opportunities to enjoy the mild year-round central Florida climate. Conveniently located near shopping and restaurants with easy access to the airport, Disney parks, and other area attractions. Come explore your next home today! Access Teri’s one-stop Orlando FL home search website.
Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.
You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.
Biketoberfest® in Daytona Beach, FL is an international award-winning motorcycle festival that offers participants an extended weekend get-away brimming with plenty of sun, beaches, bikes and fun! Thousands of bikes will roar into and all around town – no two alike! Popular annual activities include motorcycle shows and rallies that showcase new, vintage and custom bikes; demonstration rides on the newest machines from top manufacturers; and on-track motorcycle action at the world-famous Daytona International Speedway.
Information courtesy of Orlando Real Estate Expert Teri Isner and the Orlando Avenue Top Team.
Access Teri’s one-stop Orlando FL home search website. Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estatemarket. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale. You deserve professional real estate service!
You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.
It seems fairly innocuous; a friend or family member wants you to co-sign on a loan because they don’t qualify. They assure that they’ll make the payments; they’re quite convincing and very appreciative. You don’t want to disappoint them and after all, it’s not like it’s going to cost you anything…is it?
Think of it this way. They couldn’t get a loan unless you co-sign for them. If they don’t make the payments, the lender is going to look to you to repay the loan plus late and collection fees. The lender may be able to sue you, file a lien on your home or garnish your wages.
And it’s not just money that you could be losing, it could be your credit too. Co-signing a loan is a contingent liability that could affect your debt-to-income ratio and your ability to borrow.
Co-signing is an obligation to repay the debt if the other signer is unable. You could be out the money and unable to recoup the loss because you don’t have control of the asset. The impact on your credit could take years to recover.
Before you obligate yourself, consider all of the ramifications involved in co-signing a loan for someone.
Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.
You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.
The Epcot International Food & Wine Festival is an annual event celebrating the diversity of food and wine. Attendees will be able to sample offerings from celebrity chefs, go to live cooking demonstrations and live concerts. Admission to Epcot theme park is required for entry into the festival.
WHEN: now through November 16, 2015 WHERE:Epcot® COST: Included in regular park admission
Visit the Event Website for more details.
Information courtesy of Orlando Real Estate Expert Teri Isner and the Orlando Avenue Top Team.
Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estatemarket. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale. You deserve professional real estate service!
You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.
Orlando real estate sales statistics for August show the number of homes sold increased 5.6% from August 2013 and 5.9% from August 2014 to 2015. The average selling price has also increased over the past 2 years with prices increasing 1.3% from August 2013 to August 2014 and another 10.3% to $208,247 in August 2015.
Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.
You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.
According to the latest Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index homeownership is a better way to produce greater wealth, on average, than renting. The BH&J Index is a quarterly report that attempts to answer the question:
Is it better to rent or buy a home in today’s housing market?
The index examines that entire US housing market and then isolates 23 major markets for comparison. The researchers at use a “’horse race’ comparison between an individual that is buying a home and an individual that rents a similar quality home and reinvests all monies otherwise invested in homeownership.” Ken Johnson, Real Estate Economist & Professor at Florida Atlantic University, and one of the index’s authors states: “The U.S. as a whole is still in clear buy territory. The cities of Cincinnati, Chicago, Cleveland, and New York City are deep into buy territory.” Miami and Portland had been inching closer toward renting being the better option but have “pulled back from the edge.” Johnson goes on to say, “that’s a good sign for home pricing as it suggests prices are going to level off in these metro areas.”
Bottom Line
Buying a home makes sense socially and financially. Rents are predicted to increase substantially in the next year, so lock in your housing cost with a mortgage payment now.
Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.
You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.
