801-205-3500 or 801-205-1600 Gales@UtahRealty.us
Buying a Home Early in Life Can Increase Future Wealth

Buying a Home Early in Life Can Increase Future Wealth

Buying a Home Early Can Significantly Increase Future Wealth

Buying a Home Early Can Significantly Increase Future Wealth | MyKCM

According to an Urban Institute study, homeowners who purchase a house before age 35 are better prepared for retirement at age 60.

The good news is, our younger generations are strong believers in homeownership.

According to a Freddie Mac survey,

“The dream of homeownership is alive and well within “Generation Z,” the demographic cohort following Millennials.

Our survey…finds that Gen Z views homeownership as an important goal. They estimate that they will attain this goal by the time they turn 30 years old, three years younger than the current median homebuying age (33).”

Buying a Home Early Can Significantly Increase Future Wealth | MyKCMIf these aspiring homeowners purchase at an early age, the Urban Institute study shows the impact it can have.

Based on this data, those who purchased their first homes when they were younger than 25 had an average of $10,000 left on their mortgage at age 60. The 50% of buyers who purchased in their mid-20s and early-30s had close to $50,000 left, but traditionally purchased more expensive homes.Buying a Home Early Can Significantly Increase Future Wealth | MyKCMAlthough the vast majority of Gen Zers want to own a home and are somewhat confident in their future, “In terms of financial awareness, 65% of Gen Z respondents report that they are not confident in their knowledge of the mortgage process.”

Bottom Line

As the numbers show, you’re not alone. If you want to buy this year but you’re not sure where to start the process, let’s get together to help you understand the best steps to take from here.

Plus Fifty Today

Plus Fifty Today

Do you know where is your market is going? In 2020: More than one-third of the U.S. population reached age 50. 17 million baby boomers (20 percent) were age 60 or older. Generation X moved into middle age and began knocking on the door of age 58 Today demographic...

Spring Real Estate Market is Here Ready or Not?

Spring Real Estate Market is Here Ready or Not?

The New Spring Real Estate Market is Here. Are You Ready? Which month do you think most people who are considering buying a home actually start their search? If you’re like most of us, you probably think the surge happens in the spring, likely in April. Not...

Demand for Smaller Homes is on the rise

Demand for Smaller Homes is on the rise

Big Demand for Small Homes Movies, tv shows, and celebrities often have us dreaming of owning large homes, but the reality for most people is quite different. Since 2015, the square footage of newly built houses has been shrinking, according to Yahoo Finances. This is...

3 Benefits to Buying Your Dream Home This Year

3 Benefits to Buying Your Dream Home This Year

3 Benefits to Buying Your Dream Home This Year Outside of a strong economy, low unemployment, and higher wages, there are three more great reasons why you may want to consider buying your dream home this year instead of waiting. 1. Buying a Home is a Great Investment...

4 Top Renovations for Maximum ROI

4 Top Renovations for Maximum ROI

Top Renovations for Maximum ROI Some Highlights: If you’re planning on selling your house in 2020, these are the top renovations that will give you the highest Return on your Investment. Regardless of how long you’re planning on staying in your current home, it’s...

2020 Real Estate Projections That May Surprise You

2020 Real Estate Projections That May Surprise You

The 2020 Real Estate Projections That May Surprise You This will be an interesting year for residential real estate. With a presidential election taking place this fall and talk of a possible recession occurring before the end of the year, predicting what will happen...

Utah Realty Wishes you a Wonderful 2020

Utah Realty Wishes you a Wonderful 2020

Utah Realty had the best year ever in 2019! Thanks to all our clients, friends, Chambers and Connections!  Here’s to a Wonderful 2020! We hope 2020 is a great year for you, both personally and professionally!

Expert Insights on the 2020 Housing Market

Expert Insights on the 2020 Housing Market

Expert Insights on the 2020 Housing Market When closing out another year, it’s normal to wonder what’s ahead for the housing market. Though there will be future inventory issues, we expect interest rates to stay low and appreciation to continue. Here’s what three...

Plus Fifty Today

Plus Fifty Today

Do you know where is your market is going? In 2020: More than one-third of the U.S. population reached age 50. 17 million baby boomers (20 percent) were age 60 or older. Generation X moved into middle age and began knocking on the door of age 58 Today demographic...

Spring Real Estate Market is Here Ready or Not?

Spring Real Estate Market is Here Ready or Not?

The New Spring Real Estate Market is Here. Are You Ready? Which month do you think most people who are considering buying a home actually start their search? If you’re like most of us, you probably think the surge happens in the spring, likely in April. Not...

Demand for Smaller Homes is on the rise

Demand for Smaller Homes is on the rise

Big Demand for Small Homes Movies, tv shows, and celebrities often have us dreaming of owning large homes, but the reality for most people is quite different. Since 2015, the square footage of newly built houses has been shrinking, according to Yahoo Finances. This is...

3 Benefits to Buying Your Dream Home This Year

3 Benefits to Buying Your Dream Home This Year

3 Benefits to Buying Your Dream Home This Year Outside of a strong economy, low unemployment, and higher wages, there are three more great reasons why you may want to consider buying your dream home this year instead of waiting. 1. Buying a Home is a Great Investment...

4 Top Renovations for Maximum ROI

4 Top Renovations for Maximum ROI

Top Renovations for Maximum ROI Some Highlights: If you’re planning on selling your house in 2020, these are the top renovations that will give you the highest Return on your Investment. Regardless of how long you’re planning on staying in your current home, it’s...

2020 Real Estate Projections That May Surprise You

2020 Real Estate Projections That May Surprise You

The 2020 Real Estate Projections That May Surprise You This will be an interesting year for residential real estate. With a presidential election taking place this fall and talk of a possible recession occurring before the end of the year, predicting what will happen...

Utah Realty Wishes you a Wonderful 2020

Utah Realty Wishes you a Wonderful 2020

Utah Realty had the best year ever in 2019! Thanks to all our clients, friends, Chambers and Connections!  Here’s to a Wonderful 2020! We hope 2020 is a great year for you, both personally and professionally!

Expert Insights on the 2020 Housing Market

Expert Insights on the 2020 Housing Market

Expert Insights on the 2020 Housing Market When closing out another year, it’s normal to wonder what’s ahead for the housing market. Though there will be future inventory issues, we expect interest rates to stay low and appreciation to continue. Here’s what three...

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National Cut Your Energy Costs Day

National Cut Your Energy Costs Day

National Cut Your Energy Costs Day | January 10  2020

National Cut Your Energy Costs Day [INFOGRAPHIC] | MyKCM

Some Highlights:

  • On January 10th of each year, “National Cut Your Energy Costs Day” encourages consumers to reduce their overall energy costs by improving home efficiency.
  • According to Freddie Mac, a typical U.S. family spends $2,200 per year on energy bills. By making energy efficient upgrades, you could reduce your energy bills by up to 30%.
  • To assess the energy efficiency of your home and see how it measures up, take a moment to check out Home Energy Yardstick to calculate your estimated opportunity. Don’t forget to have your energy bills nearby!
Plus Fifty Today

Plus Fifty Today

Do you know where is your market is going? In 2020: More than one-third of the U.S. population reached age 50. 17 million baby boomers (20 percent) were age 60 or older. Generation X moved into middle age and began knocking on the door of age 58 Today demographic...

Spring Real Estate Market is Here Ready or Not?

Spring Real Estate Market is Here Ready or Not?

The New Spring Real Estate Market is Here. Are You Ready? Which month do you think most people who are considering buying a home actually start their search? If you’re like most of us, you probably think the surge happens in the spring, likely in April. Not...

Demand for Smaller Homes is on the rise

Demand for Smaller Homes is on the rise

Big Demand for Small Homes Movies, tv shows, and celebrities often have us dreaming of owning large homes, but the reality for most people is quite different. Since 2015, the square footage of newly built houses has been shrinking, according to Yahoo Finances. This is...

3 Benefits to Buying Your Dream Home This Year

3 Benefits to Buying Your Dream Home This Year

3 Benefits to Buying Your Dream Home This Year Outside of a strong economy, low unemployment, and higher wages, there are three more great reasons why you may want to consider buying your dream home this year instead of waiting. 1. Buying a Home is a Great Investment...

4 Top Renovations for Maximum ROI

4 Top Renovations for Maximum ROI

Top Renovations for Maximum ROI Some Highlights: If you’re planning on selling your house in 2020, these are the top renovations that will give you the highest Return on your Investment. Regardless of how long you’re planning on staying in your current home, it’s...

2020 Real Estate Projections That May Surprise You

2020 Real Estate Projections That May Surprise You

The 2020 Real Estate Projections That May Surprise You This will be an interesting year for residential real estate. With a presidential election taking place this fall and talk of a possible recession occurring before the end of the year, predicting what will happen...

Utah Realty Wishes you a Wonderful 2020

Utah Realty Wishes you a Wonderful 2020

Utah Realty had the best year ever in 2019! Thanks to all our clients, friends, Chambers and Connections!  Here’s to a Wonderful 2020! We hope 2020 is a great year for you, both personally and professionally!

Expert Insights on the 2020 Housing Market

Expert Insights on the 2020 Housing Market

Expert Insights on the 2020 Housing Market When closing out another year, it’s normal to wonder what’s ahead for the housing market. Though there will be future inventory issues, we expect interest rates to stay low and appreciation to continue. Here’s what three...

Free Buying Guide

Free Seller Guide

There’s a Long Line of Buyers Waiting for Your House

There’s a Long Line of Buyers Waiting for Your House

There’s a Long Line of Buyers Waiting for Your House

There’s a Long Line of Buyers Waiting for Your House | MyKCM

If you’re following what’s happening in the housing market right now, you know that many people believe the winter months aren’t a good time to sell a home. As realtor.com Senior Economist George Ratiu recently noted,

“Sellers tend to be more reluctant to list during the colder time of year when the market typically makes a seasonal slowdown.”

However, a recent report by ShowingTime reveals how this year is different. Buyer activity is way up compared to the same time last year. The report explains,

“The nation’s 12.6% growth in home showings compared to 2018 was the most significant jump in buyer traffic during the current four-month streak of year-over-year increases. The West Region saw the greatest growth in activity, with a 23.1% jump – the region’s greatest in the history of the Showing Index.”

The increase has spread across all four regions of the country, as the graph below shows:There’s a Long Line of Buyers Waiting for Your House | MyKCM

Bottom Line

Waiting for the “spring buyers’ market” may be a mistake this year. It seems the purchasers are already out and looking to buy.

Questions? Contact Us

Plus Fifty Today

Plus Fifty Today

Do you know where is your market is going?

In 2020:

More than one-third of the U.S. population reached age 50.

17 million baby boomers (20 percent) were age 60 or older.

Generation X moved into middle age and began knocking on the door of age 58

Today demographic forces will shape the future market as generations experience the life transitions. Our own and our parents’—that accompany aging. This blog and the articles to come focuses on the maturing G.I. Generation, the Silent Generation, and the baby boomers because they comprise the 50+ market, now and for the next decade. But, interaction with Gen X and Gen Y members must be considered because they are the young adults who may be involved in the real estate decisions of their parents and elders.

Call Marty Gale

801-205-3500

 

Spring Real Estate Market is Here Ready or Not?

Spring Real Estate Market is Here Ready or Not?

The New Spring Real Estate Market is Here. Are You Ready?

The New Spring Real Estate Market is Here. Are You Ready? | MyKCM

Which month do you think most people who are considering buying a home actually start their search? If you’re like most of us, you probably think the surge happens in the spring, likely in April. Not anymore. According to new research, January 2019 was only 1% behind February for the most monthly views per listing on realtor.com.

So, what does that mean? The busiest season in real estate has just begun.

The same research indicates,

“Historically, April launched the kickoff of the home shopping season as buyers would come out of their winter hibernation looking for their new home. However, the spring shopping season now starts in January for many of the nation’s largest markets.”

With the reality of fewer homes on the market in the winter, and that supply naturally increases as we head to the spring market, waiting for more competition to list in your neighborhood this year might put you behind the curve. Perhaps now is the time to jump into the market.

George Ratiu, Senior Economist at realtor.com says,

“As shoppers modify their strategies for navigating a housing market that has become more competitive due to rising prices and low inventory, the search for a home is beginning earlier and earlier.”

There is a lot of speculation in the market about why the search for a home is shifting to an earlier start. The one thing we do know is if you’re thinking about buying or selling a home this year, the earlier you get started, the better.

Reminder: When should you sell something? When there is less of that item for sale and the greatest number of buyers are in the market. That’s exactly what is happening in real estate right now.

Bottom Line

The new spring market for real estate is underway. If you’re considering buying or selling, let’s connect, so you have the advantage in this competitive market.

Plus Fifty Today

Plus Fifty Today

Do you know where is your market is going? In 2020: More than one-third of the U.S. population reached age 50. 17 million baby boomers (20 percent) were age 60 or older. Generation X moved into middle age and began knocking on the door of age 58 Today demographic...

Spring Real Estate Market is Here Ready or Not?

Spring Real Estate Market is Here Ready or Not?

The New Spring Real Estate Market is Here. Are You Ready? Which month do you think most people who are considering buying a home actually start their search? If you’re like most of us, you probably think the surge happens in the spring, likely in April. Not...

Demand for Smaller Homes is on the rise

Demand for Smaller Homes is on the rise

Big Demand for Small Homes Movies, tv shows, and celebrities often have us dreaming of owning large homes, but the reality for most people is quite different. Since 2015, the square footage of newly built houses has been shrinking, according to Yahoo Finances. This is...

3 Benefits to Buying Your Dream Home This Year

3 Benefits to Buying Your Dream Home This Year

3 Benefits to Buying Your Dream Home This Year Outside of a strong economy, low unemployment, and higher wages, there are three more great reasons why you may want to consider buying your dream home this year instead of waiting. 1. Buying a Home is a Great Investment...

4 Top Renovations for Maximum ROI

4 Top Renovations for Maximum ROI

Top Renovations for Maximum ROI Some Highlights: If you’re planning on selling your house in 2020, these are the top renovations that will give you the highest Return on your Investment. Regardless of how long you’re planning on staying in your current home, it’s...

2020 Real Estate Projections That May Surprise You

2020 Real Estate Projections That May Surprise You

The 2020 Real Estate Projections That May Surprise You This will be an interesting year for residential real estate. With a presidential election taking place this fall and talk of a possible recession occurring before the end of the year, predicting what will happen...

Utah Realty Wishes you a Wonderful 2020

Utah Realty Wishes you a Wonderful 2020

Utah Realty had the best year ever in 2019! Thanks to all our clients, friends, Chambers and Connections!  Here’s to a Wonderful 2020! We hope 2020 is a great year for you, both personally and professionally!

Expert Insights on the 2020 Housing Market

Expert Insights on the 2020 Housing Market

Expert Insights on the 2020 Housing Market When closing out another year, it’s normal to wonder what’s ahead for the housing market. Though there will be future inventory issues, we expect interest rates to stay low and appreciation to continue. Here’s what three...

Demand for Smaller Homes is on the rise

Demand for Smaller Homes is on the rise

Big Demand for Small Homes

Big Demand for Small Homes | MyKCM

Movies, tv shows, and celebrities often have us dreaming of owning large homes, but the reality for most people is quite different.

Since 2015, the square footage of newly built houses has been shrinking, according to Yahoo Finances. This is not projected to change as we continue into the beginning of the year.

“We expect this downsizing trend to continue in 2020, driven by a confluence of economic and demographic trends.”

Why are smaller homes trending now?

As noted in the article, there are a few main reasons for this demand:

  • “Many of today’s younger, millennial home buyers have expressed a preference for denser, more urban homes that are more walkable to shared amenities.”
  • “Today’s older homeowners are expressing a desire for smaller, less maintenance-heavy and more accessible (read: less stairs) homes as they age and move into newer homes.”

With these two demographic groups surging through the market, the demand for this type of home is rising. If you’re a homeowner with a smaller-scale house, now may be a great time to sell, as the demand for this end of the market is surely on the rise.

Bottom Line

The demand for smaller houses will continue to rise throughout 2020. Let’s get together to discuss what the housing inventory looks like in your neighborhood. It might be time for you to take advantage of this trend!

Plus Fifty Today

Plus Fifty Today

Do you know where is your market is going? In 2020: More than one-third of the U.S. population reached age 50. 17 million baby boomers (20 percent) were age 60 or older. Generation X moved into middle age and began knocking on the door of age 58 Today demographic...

Spring Real Estate Market is Here Ready or Not?

Spring Real Estate Market is Here Ready or Not?

The New Spring Real Estate Market is Here. Are You Ready? Which month do you think most people who are considering buying a home actually start their search? If you’re like most of us, you probably think the surge happens in the spring, likely in April. Not...

Demand for Smaller Homes is on the rise

Demand for Smaller Homes is on the rise

Big Demand for Small Homes Movies, tv shows, and celebrities often have us dreaming of owning large homes, but the reality for most people is quite different. Since 2015, the square footage of newly built houses has been shrinking, according to Yahoo Finances. This is...

3 Benefits to Buying Your Dream Home This Year

3 Benefits to Buying Your Dream Home This Year

3 Benefits to Buying Your Dream Home This Year Outside of a strong economy, low unemployment, and higher wages, there are three more great reasons why you may want to consider buying your dream home this year instead of waiting. 1. Buying a Home is a Great Investment...

4 Top Renovations for Maximum ROI

4 Top Renovations for Maximum ROI

Top Renovations for Maximum ROI Some Highlights: If you’re planning on selling your house in 2020, these are the top renovations that will give you the highest Return on your Investment. Regardless of how long you’re planning on staying in your current home, it’s...

2020 Real Estate Projections That May Surprise You

2020 Real Estate Projections That May Surprise You

The 2020 Real Estate Projections That May Surprise You This will be an interesting year for residential real estate. With a presidential election taking place this fall and talk of a possible recession occurring before the end of the year, predicting what will happen...

Utah Realty Wishes you a Wonderful 2020

Utah Realty Wishes you a Wonderful 2020

Utah Realty had the best year ever in 2019! Thanks to all our clients, friends, Chambers and Connections!  Here’s to a Wonderful 2020! We hope 2020 is a great year for you, both personally and professionally!

Expert Insights on the 2020 Housing Market

Expert Insights on the 2020 Housing Market

Expert Insights on the 2020 Housing Market When closing out another year, it’s normal to wonder what’s ahead for the housing market. Though there will be future inventory issues, we expect interest rates to stay low and appreciation to continue. Here’s what three...

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