If you’re in the market for a new home this year, there are five important things you need to know.
A recent article in Forbes says housing prices will continue to rise, about 5%-6% on average. That type of increase may slow the housing market and make single-home rentals more attractive.
If you’re looking for a home in a desirable market like Seattle, Portland, Los Angeles or San Diego, good luck! Prices are climbing even faster in those cities. The savvy home buyer should probably look elsewhere for better deals in cities with slower home price growth: Chicago, Boston or Washington, D.C.
Another caveat for prospective buyers: lenders are getting pickier about who they’ll lend to. According to Fannie Mae and Freddie Mac, over 60% of their home loans over the last six years went to borrowers with FICO scores above 750. So, if you’re serious about homeownership, you better start working on your credit score!
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Consider investing in a professionally managed portfolio of single-family homes? Please contact Harold Willig at email@example.com or 917-209-4452.
Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer, and was responsible for the oversight of HFZ's Finance and Accounting team. He has over 16 years of finance and accounting experience.
Mr. Willig also ran a consulting practice and provided valuation, analysis, and transactional support services to multi-billion-dollar real estate companies. Previously, Mr. Willig served as the Senior Controller and Vice President of Financial Analysis and then the Chief Financial Officer of the Athena Group, a multifamily development company and fund manager.