Good news for all! It looks like the national real estate market is ready for an upswing of home prices due to low inventory, and every single state will be feeling it very, very soon. Yes, this does include the Midwestern states we all love so dearly. The crossroads of America. The Mitten. The Windy City. You name it.
Each of these states will be a pretty good place to sell a home with optimal returns. So if you live in any of these states, and you’re planning on selling your home somewhere in these corn fields, take a look at the home prices first and see if you should plan ahead for pricing that home on the higher end of the big bucks!
Take One Look Here at the Entire Midwest and See for Yourself
And this is the heartland of America, so you know real estate’s not exactly a bread and butter, but a golden gem. So if this golden gem’s getting bigger, then it’s for sure — our real estate market’s looking up!
#GrandRapidsMI, #Housing Inventory Is at an All-Time Low. You Know What That Means? A Vibrant Seller’s Market!
Just how vibrant are we looking at in Grand Rapids, MI, #realestate? INSANELY vibrant. Let's go back to June, 2002, and see the GRAR's report on inventory: 5.5 months. Jump to 2005, and that number started going up due to stagnant sales and low home prices to keep the market going, and it got even worse once we hit 2008.
But when that home market in Grand Rapids got pulverized, what then happened? The inventory started dropping massively. In 2009, it went down to 9.7 — just in 2014, it was at 3.2 months — and in 2015, only 2.3 months of available homes were on hand for prospective buyers.
That's not a lot of inventory for house flipping, don't you think?
Not that house flipping is necessarily a bad thing; after all, it’s a natural lucrative phenomenon in the real estate industry all over. Check out Midvale, Utah, for starters, with the real estate funding and cash loans to flip a home and make some profit while stimulating the market.
We’re sure many wonder just how people get rich: tenacity. That’s the only way we can describe it. It all boils down to how you buy a candy bar for a buck and then sell it for two bucks. Simple as that. Increase the scale as high as you want to go, and you have a major money maker on your hands.
Why is #creditrepair so important? Think about it…. What's one thing you need in order to get that home mortgage secured: a GOOD CREDIT SCORE! That's why #realestate plays a massive role for us at #ICS, whether it's #RTO or simply standard home ownership. We'll help you get there.
Here's the reason why — one of their guidelines is the rule that says your modest income may still qualify, and the reason why is due to income limits for each city and county. This is partly why the geographics play a big role as to whether or not you get approved for a USDA home mortgage. It's not exactly the most widely used plan for a reason.
However, be in the right place at the right time with the right situation, and the USDA home mortgage might be the biggest benefit ever. Here's an example — let's say you have four people living in the home with you, and your income limit is $59K according to the city/county guidelines. You know what happens if your annual household income's actually maybe $79K? You get approved. Easily.
Check out some more info on the USDA home mortgage right here on the link.
They’re called mortgage trends, friends. Do the research here. Of course, we’re noticing that there’s one major trend going on in the real estate market, and that’s the higher down payment, but perhaps you might want to stick with something lower. That’s okay. Want to know why?
You Have a Budget, and While Down Payments All Over Are Increasing, Some States Are Still Lower Than Others