pa href=http://www.shanewillis.com/wp-content/uploads/2018/07/20180712-Share-STM.jpgimg loading=lazy decoding=async class=aligncenter size-full wp-image-4441 src=http://www.shanewillis.com/wp-content/uploads/2018/07/20180712-Share-STM.jpg alt= width=750 height=410 srcset=https://www.shanewillis.com/wp-content/uploads/2018/07/20180712-Share-STM.jpg 750w, https://www.shanewillis.com/wp-content/uploads/2018/07/20180712-Share-STM-300x164.jpg 300w sizes=auto, (max-width: 750px) 100vw, 750px //a/p

pWe keep hearing that home affordability is approaching crisis levels. While this may be true in a few metros across the country, housing affordability is not a challenge in the clear majority of the country. In their most recentem a title=Real House Price Index href=https://www.firstam.com/economics/real-house-price-index/ target=_blank rel=noopener noreferrerReal House Price Index/a,/em emFirst American/em reported that consumer “house-buying power” is at “near-historic levels.”/p

pTheir index is based on three components:/p

ol

liMedian Household Income/li

liMortgage Interest Rates/li

liHome Prices/li

/ol

pThe report explains:/p

blockquote

pem“Changing incomes and interest rates either increase /em/p

/blockquote

p…/p

pThe post a href=https://www.shanewillis.com/podcast/house-buying-power-at-near-historic-levels/House-Buying Power at Near-Historic Levels/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p

pa href=http://www.shanewillis.com/wp-content/uploads/2018/07/20180711-Share-STM.jpgimg loading=lazy decoding=async class=aligncenter size-full wp-image-4438 src=http://www.shanewillis.com/wp-content/uploads/2018/07/20180711-Share-STM.jpg alt= width=750 height=410 srcset=https://www.shanewillis.com/wp-content/uploads/2018/07/20180711-Share-STM.jpg 750w, https://www.shanewillis.com/wp-content/uploads/2018/07/20180711-Share-STM-300x164.jpg 300w sizes=auto, (max-width: 750px) 100vw, 750px //a/p

pSince the beginning of the year, mortgage interest rates have risen over a half of a percentage point (from 3.95% to 4.52%), a title=according href=http://www.freddiemac.com/pmms target=_blank rel=noopener noreferreraccording/a to emFreddie Mac./em Even a small rise in interest rates can greatly impact a buyer’s monthly mortgage payment./p

pemFirst American/em recently released the results of their quarterly ema title=Real Estate Sentiment Index href=http://www.firstam.com/economics/real-estate-sentiment-index/ target=_blank rel=noopener noreferrerReal Estate Sentiment Index/a/em (RESI), in which they surveyed title and real estate agents across the country about the impact of rising rates on first-time homebuyers./p

pReal estate professionals around …/p

pThe post a href=https://www.shanewillis.com/podcast/rising-interest-rates-have-not-dampened-demand/Rising Interest Rates Have Not Dampened Demand/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p

pa href=http://www.shanewillis.com/wp-content/uploads/2018/07/20180710-Share-STM.jpgimg loading=lazy decoding=async class=aligncenter size-full wp-image-4432 src=http://www.shanewillis.com/wp-content/uploads/2018/07/20180710-Share-STM.jpg alt= width=750 height=410 srcset=https://www.shanewillis.com/wp-content/uploads/2018/07/20180710-Share-STM.jpg 750w, https://www.shanewillis.com/wp-content/uploads/2018/07/20180710-Share-STM-300x164.jpg 300w sizes=auto, (max-width: 750px) 100vw, 750px //a/p

pThe emNational Association of Realtors/em (NAR) keeps historical data on many aspects of homeownership. One of their data points, which has changed dramatically, is the median tenure of a family in a home, meaning how long a family stays in a home prior to moving./p

pAs the graph below shows, over the last twenty years (1985-2008), the median tenure averaged exactly six years. strongHowever, since 2014, that average is almost ten years – an increase of almost 50%./strong/p

pimg loading=lazy decoding=async class=alignnone wp-image-76476 src=https://files.mykcm.com/2018/06/25112457/20180710-STM-ENG.jpeg alt=How Long Do Most Families Live in a House? width=600 height=450 //p

h4strongWhy the /strong/h4

p…/p

pThe post a href=https://www.shanewillis.com/podcast/how-long-do-most-families-live-in-a-house/How Long Do Most Families Live in a House?/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p

pa href=http://www.shanewillis.com/wp-content/uploads/2018/05/20170821-STM-Share.jpgimg loading=lazy decoding=async class=aligncenter size-full wp-image-4181 src=http://www.shanewillis.com/wp-content/uploads/2018/05/20170821-STM-Share.jpg alt= width=750 height=410 srcset=https://www.shanewillis.com/wp-content/uploads/2018/05/20170821-STM-Share.jpg 750w, https://www.shanewillis.com/wp-content/uploads/2018/05/20170821-STM-Share-300x164.jpg 300w sizes=auto, (max-width: 750px) 100vw, 750px //a/p

div id=articleTitle

h1 class=FAR_Heading_One newsHeaderstrong style=font-family: 'Source Sans Pro', Helvetica, sans-serif; font-size: 16px;Question/strongspan style=font-family: 'Source Sans Pro', Helvetica, sans-serif; font-size: 16px;: I’ve heard that I can withdraw money from my IRA to help pay for my first house. Is this true?/span/h1

/div

pstrongAnswer/strong: To be perfectly clear, you can withdraw money from your IRA whenever you want. But if you do it without an IRS-allowed exemption, you’ll end up paying a 10 percent early withdrawal penalty./p

pFortunately for first-time homebuyers, there is such an exemption. First-time homebuyers can take out as much as $10,000 from their traditional IRA penalty-free, …/p

pThe post a href=https://www.shanewillis.com/podcast/finding-a-downpayment-can-i-tap-my-ira-to-buy-house/Finding a downpayment: Can I tap my IRA to buy house?/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p

preThis article appeared in the Wall Street Journal on July 6, 2018. All author attributes belong to Robyn A. Friedman/pre

h6 class=sub-head style=text-align: center;The contingency-based clause coaxes some sellers by offering them the chance to continue marketing a property, while buyers are given time to sell existing homes/h6

pa href=http://www.shanewillis.com/wp-content/uploads/2018/07/MN-AR728_BUMP_16U_20180628150242.jpgimg loading=lazy decoding=async class=aligncenter size-full wp-image-4411 src=http://www.shanewillis.com/wp-content/uploads/2018/07/MN-AR728_BUMP_16U_20180628150242.jpg alt= width=1274 height=1000 srcset=https://www.shanewillis.com/wp-content/uploads/2018/07/MN-AR728_BUMP_16U_20180628150242.jpg 1274w, https://www.shanewillis.com/wp-content/uploads/2018/07/MN-AR728_BUMP_16U_20180628150242-300x235.jpg 300w, https://www.shanewillis.com/wp-content/uploads/2018/07/MN-AR728_BUMP_16U_20180628150242-768x603.jpg 768w, https://www.shanewillis.com/wp-content/uploads/2018/07/MN-AR728_BUMP_16U_20180628150242-1024x804.jpg 1024w sizes=auto, (max-width: 1274px) 100vw, 1274px //a/p

pstrongWhat to /strongdo when a home-seller gets an offer but holds out hope for something better?/p

pEnter the bump clause./p

div class=paywall

pA bump clause lets sellers enter into a contract with a buyer while still continuing /p

/div

p…/p

pThe post a href=https://www.shanewillis.com/podcast/in-cooling-housing-markets-bump-clauses-help-seal-win-win-deals/In Cooling Housing Markets, ‘Bump Clauses’ Help Seal Win-Win Deals/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p

pa href=http://www.shanewillis.com/wp-content/uploads/2018/07/20180705-Share-STM.jpgimg loading=lazy decoding=async class=aligncenter size-full wp-image-4402 src=http://www.shanewillis.com/wp-content/uploads/2018/07/20180705-Share-STM.jpg alt= width=750 height=410 srcset=https://www.shanewillis.com/wp-content/uploads/2018/07/20180705-Share-STM.jpg 750w, https://www.shanewillis.com/wp-content/uploads/2018/07/20180705-Share-STM-300x164.jpg 300w sizes=auto, (max-width: 750px) 100vw, 750px //a/p

pRising home prices have many concerned that the average family will no longer be able to afford the most precious piece of the American Dream – their own home./p

pHowever, it is not just the price of a home that determines its affordability. The monthly cost of a home is determined by the price emand/em the interest rate on the mortgage used to purchase it./p

pToday, mortgage interest rates stand at about 4.5%. The average annual mortgage interest rate from …/p

pThe post a href=https://www.shanewillis.com/podcast/homes-more-affordable-today-than-1985-2000/Homes More Affordable Today than 1985-2000/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p

pa href=http://www.shanewillis.com/wp-content/uploads/2018/07/20180702-Share-STM.jpgimg loading=lazy decoding=async class=aligncenter size-full wp-image-4390 src=http://www.shanewillis.com/wp-content/uploads/2018/07/20180702-Share-STM.jpg alt= width=750 height=410 srcset=https://www.shanewillis.com/wp-content/uploads/2018/07/20180702-Share-STM.jpg 750w, https://www.shanewillis.com/wp-content/uploads/2018/07/20180702-Share-STM-300x164.jpg 300w sizes=auto, (max-width: 750px) 100vw, 750px //a/p

pSummer is traditionally a busy season for real estate. Buyers come out in force and homeowners list their houses for sale hoping to capitalize on those buyers who are looking to purchase before the new school year. This year will be no different!/p

pBuyers have a title=already been out href=http://www.shanewillis.com/blog/buyer-demand-still-outpacing-the-supply-of-homes-for-sale/already been out/a in force looking for their dream homes and more are on their way. The challenge is that the inventory of homes for sale has not kept up with demand, which has led …/p

pThe post a href=https://www.shanewillis.com/podcast/buying-this-summer-be-prepared-for-bidding-wars/Buying This Summer? Be Prepared for Bidding Wars/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p

h5WSJ ARTICLE “No Savings? No Problem. These Companies Are Helping Home Buyers With Down Payments” Published 06/30/18 written by By span class=nameChristina Rexrode/span and span class=nameLaura Kusisto/span/h5

pa href=http://www.shanewillis.com/wp-content/uploads/2018/05/B3-AO335_hennes_M_20180524172220.jpgimg loading=lazy decoding=async class=aligncenter size-full wp-image-4258 src=http://www.shanewillis.com/wp-content/uploads/2018/05/B3-AO335_hennes_M_20180524172220.jpg alt= width=1280 height=853 srcset=https://www.shanewillis.com/wp-content/uploads/2018/05/B3-AO335_hennes_M_20180524172220.jpg 1280w, https://www.shanewillis.com/wp-content/uploads/2018/05/B3-AO335_hennes_M_20180524172220-300x200.jpg 300w, https://www.shanewillis.com/wp-content/uploads/2018/05/B3-AO335_hennes_M_20180524172220-768x512.jpg 768w, https://www.shanewillis.com/wp-content/uploads/2018/05/B3-AO335_hennes_M_20180524172220-1024x682.jpg 1024w sizes=auto, (max-width: 1280px) 100vw, 1280px //a/p

pReese and Kyle Rademacher weren’t sure how they would afford a down payment to buy a home until their real-estate agent mentioned an offbeat idea: crowdfund the money from friends and family./p

div class=paywall

pMrs. Rademacher, a 28-year-old construction technician, set up an online profile with a program called HomeFundMe to solicit donations. Her parents and a /p

/div

p…/p

pThe post a href=https://www.shanewillis.com/podcast/no-savings-no-problem/No Savings? No Problem/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p

pa href=http://www.shanewillis.com/wp-content/uploads/2018/06/20180122-Share-STM.jpgimg loading=lazy decoding=async class=aligncenter size-full wp-image-4300 src=http://www.shanewillis.com/wp-content/uploads/2018/06/20180122-Share-STM.jpg alt= width=750 height=410 srcset=https://www.shanewillis.com/wp-content/uploads/2018/06/20180122-Share-STM.jpg 750w, https://www.shanewillis.com/wp-content/uploads/2018/06/20180122-Share-STM-300x164.jpg 300w sizes=auto, (max-width: 750px) 100vw, 750px //a/p

div class=group-container

div class=group

pThey were blamed for the biggest financial disaster in a century. Subprime mortgages – home loans to borrowers with sketchy credit who put little to no skin in the game. Following the epic housing crash, they disappeared, due to strong, new regulation, and zero demand from investors who were badly burned. Barely a decade later, they’re coming back with a new name — nonprime — and, so far, some new standards./p

pCalifornia-based Carrington Mortgage Services, a midsized lender, just announced /p

/div

/div

p…/p

pThe post a href=https://www.shanewillis.com/podcast/subprime-mortgages-make-a-comeback-with-a-new-name-and-soaring-demand/Subprime mortgages make a comeback—with a new name and soaring demand/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p

pa href=http://www.shanewillis.com/wp-content/uploads/2018/06/20180628-STM-Share.jpgimg loading=lazy decoding=async class=aligncenter size-full wp-image-4377 src=http://www.shanewillis.com/wp-content/uploads/2018/06/20180628-STM-Share.jpg alt= width=750 height=410 srcset=https://www.shanewillis.com/wp-content/uploads/2018/06/20180628-STM-Share.jpg 750w, https://www.shanewillis.com/wp-content/uploads/2018/06/20180628-STM-Share-300x164.jpg 300w sizes=auto, (max-width: 750px) 100vw, 750px //a/p

pEconomists and analysts know that the country has experienced economic growth for almost a decade. They also know that a recession can’t be too far off. A recent a title=report href=https://www.zillow.com/research/experts-2020-next-recession-19994/ target=_blank rel=noopener noreferrerreport/a by emZillow Research/em shed light on a survey conducted by emPulsenomics /emin which they asked economists, investment strategists and market analysts how they felt about the current housing market. That report revealed the possible timing of the next recession:/p

blockquote

p“emExperts largely expect the next recession to begin in 2020.”/em/p

/blockquote

pThat …/p

pThe post a href=https://www.shanewillis.com/podcast/next-recession-in-2020-what-will-be-the-impact/Next Recession in 2020? What Will Be the Impact?/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p