Anthony de Movellan

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Millennials and the latest findings from our Homeowner Sentiment Survey

8/26/2016
millennials

LATEST BERKSHIRE HATHAWAY HOMESERVICES SURVEY REVEALS MILLENNIALS EXERCISE PATIENCE IN QUEST FOR HOMES

 

The concept of a starter home may be a non-starter for millennials, at least according to findings from Berkshire Hathaway HomeServices’ latest Homeowner Sentiment Survey. The study found that besides saving for a down payment, 37% of millennial renters indicated they are interested in buying a house only when they’re ready to afford their dream home, relegating the concept of a “starter home” to virtual non-existence. 

But even if millennials are holding out for their perfect property, this cautious generation is still the most optimistic about the real estate market and most satisfied with the U.S. economy, survey findings revealed. In fact, 76% of respondents ages 18 to 34 view housing favorably, up a point from last spring and a full 17 percentage points from November. A large majority of millennials (85%) also believe that owning a home is an important part of the “American Dream,” a sentiment shared with older generations.

But even if millennials are holding out for their perfect property, this cautious generation is still the most optimistic about the real estate market and most satisfied with the U.S. economy …

Not shared with other generations, however, is millennials’ biggest challenge in purchasing a home. Overwhelmingly, the survey millennial respondents said securing a low mortgage rate is their greatest hurdle to homeownership while Gen-Xers said their largest barrier is saving money for the purchase, and boomers  said their biggest challenge was “finding a home that suits their family’s wants and needs.”

“Mortgage rates may be hindering millenials from purchasing a home,” said Gino Blefari, CEO of HSF Affiliates.” However, encouraged by an optimistic outlook on housing and the economy, I think we’ll start to see more millennial buyers in the market, especially as rates remain at historic lows.”

Read the full press release here.

6/28/2010
From Listing Contracts to Purchase Contracts paperless is here! We completed the first totally paperless home purchase in Central Kentucky with the new DotLoop transaction system. Read the article from the Lane Report http://kybiz.com/articles/article.cfm?id=1230

VOTE EXPECED TODAY - Extended and Expanded Tax Credit

10/27/2009
The United States Senate is expected to vote, later today, on a bill to extend Unemployment Insurance benefits. This bill will contain the Dodd - Lieberman - Isakson Amendment to Extend and Expand the $8,000 First Time Homebuyer Tax Credit. The Extended and Expanded Tax Credit will contain the following provisions: Amount: $8,000 Eligibility: ALL HOME BUYERS (Step-up buyers will have to have lived in their current home for SEVEN* years to be eligible) Income Limits: $125,000 for single filers/$225,000 for joint filers Time Frame: December 1, 2009 to April 30, 2010 plus 60 Day extension if binding contract is in place by April 30, 2010 *The 7 year ownership requirement is designed to lower the "score" or cost of the tax credit. This is still open to change. The Congressional Budget Office is going to "score" the cost of 3 year and 5 year requirements. We are continuing to push for step-up buyers to be required be in their current home for three year period.
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