Mike May, Realtor 804.731.0111 Mike May, Realtor 804.731.0111
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Buyer Information

Posts filed under Buyer Information



Would-be Buyers with Student Debt
Posted Wed, May 24th 2017 12:54 pm
59% of non-owners are not comfortable taking on a mortgage with their student debt according to the Aspiring Home Buyers 2017 survey. It is estimated that the college graduates have an average of $...

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#1 Answer to the Housing Shortage: New Construction
Posted Thu, May 18th 2017 12:56 pm
The biggest challenge to today’s housing market is the shortage of housing inventory for sale. A normal market would see a six-month supply of homes for sale. Currently, that number is below four...

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Good Info - Good Decisions
Posted Tue, May 16th 2017 11:20 am
While low inventory is certainly challenging buyers, not having a clear understanding of mortgage financing is also causing issues. By having good information, they are able to make better decision...

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Financial Planning: 4 Reasons to Buy a House Today
Posted Thu, May 4th 2017 11:05 am
Homeownership will always be a part of the American Dream. There are advantages to owning your own home (educational, health, social) that far transcend any economic impact. However, we want to l...

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Indecision May Cost More
Posted Tue, May 2nd 2017 12:23 pm
“More has been lost due to indecision than was ever lost to making the wrong decision.” Interest rates have as much effect on housing costs as price and when they are both trending upward, it can b...

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Your Tax Return: Bring it Home
Posted Fri, Apr 28th 2017 1:54 pm
This time of year, many people eagerly check their mailboxes looking for their tax return check from the IRS. But, what do most people plan to do with the money? GO Banking Rates recently surveye...

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Would-be to Should-be
Posted Tue, Apr 25th 2017 12:56 pm
Some would-be buyers have emotional reasons to own a home like having a place of their own where they can raise a family, feel safe and secure and enjoy their friends’ company. Other buyers’ domina...

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Tax Return Depressing? Owning a Home Could Help
Posted Fri, Apr 21st 2017 10:58 am
Many Americans got some depressing news last week; either their tax return was not as large as they had hoped or, in some cases, they were told they owed additional money to either the Federal or...

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Home Mortgages: Rates Up, Requirements Easing
Posted Thu, Apr 13th 2017 3:03 pm
The media has extensively covered the rise in mortgage interest rates since last fall (from 3.42% last September to the current 4.1% according to Freddie Mac). However, a less covered aspect of t...

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The ‘REAL’ News about Housing Affordability
Posted Thu, Apr 6th 2017 2:27 pm
Some industry experts are claiming that the housing market may be headed for a slowdown as we proceed through 2017, based on rising home prices and a potential jump in mortgage interest rates. On...

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What Are the Experts Saying about Mortgage Rates?
Posted Thu, Mar 23rd 2017 10:42 am
Mortgage interest rates have risen over the last few months and projections are that they will continue their upswing throughout 2017. What impact will this have on the housing market? Here is wh...

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Which Homes Have Appreciated the Most?
Posted Thu, Mar 16th 2017 3:13 pm
Home values have risen dramatically over the last twelve months. The latest Existing Home Sales Report from the National Association of Realtors puts the annual increase in the median existing-ho...

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Before You Pay Cash for a Home
Posted Tue, Mar 7th 2017 11:15 am
The National Association of REALTORS® reports in its 2016 Profile of Home Buyers and Sellers that 12% of all buyers paid cash for their home. Before paying cash for a home, a buyer should decide i...

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Mortgage Rates Impact on 2017 Home Values
Posted Thu, Mar 2nd 2017 11:06 am
There is no doubt that historically low mortgage interest rates were a major impetus to housing recovery over the last several years. However, many industry experts are showing concern about the ...

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Not Available for All Buyers
Posted Tue, Feb 28th 2017 2:22 pm
Lenders regularly publish mortgage rates but they may not be available for all buyers. Imagine that the mortgage payment based on an advertised rate influenced a buyer to make an offer on a home. ...

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The Impact of Homeownership on Family Health
Posted Thu, Feb 23rd 2017 12:21 pm
The National Association of Realtors recently released a study titled 'Social Benefits of Homeownership and Stable Housing.’ The study confirmed a long-standing belief of most Americans: “Owni...

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What Would You Give?
Posted Thu, Feb 16th 2017 2:12 pm
Yogi Berra said he’d give his right arm to be ambidextrous. While most first-time home buyers are not going to that extreme, it is interesting to see what sacrifices are being made according to the...

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Boomers Are Staying In-Place
Posted Tue, Jan 24th 2017 12:58 pm
There seems to have been an accepted progression for homeowners going from starter home, to gradually moving into one’s dream home, then, downsizing after becoming an empty nester and finally, into...

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Will Housing Affordability Be a Challenge in 2017?
Posted Thu, Jan 19th 2017 1:42 pm
Some industry experts are saying that the housing market may be heading for a slowdown in 2017 based on rising home prices and a jump in mortgage interest rates. One of the data points they use i...

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Millionaire to Millennials: Buy a Home!!
Posted Thu, Jan 5th 2017 1:17 pm
Last week, CNBC ran an article quoting self-made millionaire David Bach explaining that not purchasing a home is "the single biggest mistake millennials are making"because buying real estate is "...

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