Why millennials are delaying homeownership

Why Millennials Are Delaying Homeownership

Homeownership, once the milestone many young adults strived for to prove “they made it”, has seen a steady decline from the younger millennial generation. There have been many reports and articles about millennials and their “unusual” buying behaviors; many claiming that this generation simply is changing the narrative of what it means to attain the American dream. Although that may very well be true, in the case of delayed homeownership, there may be an even simpler reason behind why this generation is opting out: affordability.

Low housing inventory has been an issue and on many industry insiders’ radar for quite some time now, but the supply of starter homes is even more stark which makes home prices rise. This fact is knocking many millennials in competitive markets out of the running. Another contributing factor to the home buying delay is credit history. According to data collected from TransUnion, about 38% of millennials fall into the subprime credit category meaning their credit history/score is below average. Being a high risk borrowers makes housing affordability even more challenging because the borrower usually has to apply for loans with higher interest rates and less favorable terms.

With all that being said, millennials may be delaying homeownership, but that doesn’t mean they aren’t planning on ever purchasing a home. The job market is stable and people’s overall incomes are on the rise. As the younger generation continues to take steps to improve their financial situations and (hopefully) as inventory starts to catchup with demand, we will begin to see more millennials take the next step into homeownership.

Why Is Spring The Best Time To Sell A Home?

In real estate, as in many other things in life, timing is everything. For many homeowners and prospective home-buyers, the decision of when to buy or sell a home can have a tremendous impact on the price, ease of sale, and competition. Many professionals in the real estate sector point to spring as the start of the busy season. This means that more houses will become available for purchase and more buyers will start looking at available properties.

The spring season brings with it an increase in real estate activity for a number of reasons. As the expensive holiday season becomes a distant memory, you might find yourself with more money in your pocket and start to become excited about a new project. Spring also means more sunlight and warmer weather, which to many people is a major motivator to finally get started on the home buying or selling process. Buying a home in the spring also lets you look forward to a summer moving project; a far better prospect than moving in the dead of winter.

So why should you consider selling your home in the spring? For starters, the boost in foot traffic at open houses increases the likelihood of multiple offers, which gives you the leverage necessary to negotiate a higher sale price. The spring weather also spurs the growth of plants and flowers, which can significantly improve the aesthetics of your home and ultimately allow you to ask for a higher price. Because spring marks the beginning of the “real estate season,” home-buyers will be nervous about missing out on a home that catches their eye, and this  can entice them to agree to a higher price.

That being said, this spring we’re gearing up for another active home-buying season.  If you’re shopping for a new home, don’t miss out.  Shop some of the most competitive rates and lock yours today. Click here for today’s rates.

AmeriSave Named 3rd In Customer Satisfaction By LendingTree For Q4 2017

AmeriSave Mortgage Corporation Named Top 10 Customer Satisfaction By LendingTree For Q4 2017

Atlanta, Georgia – January 19, 2018 – AmeriSave Mortgage Corporation was listed on LendingTree’s Top Ten Customer-Rated Lenders for Q4 2017, which was announced on January 19, 2018. AmeriSave was rated on offered rates, fees and closing costs, responsiveness, customer service and overall experience. The list features the top lenders in multiple loan categories including personal loans, business loans and auto loans.

“Once again AmeriSave has been recognized by LendingTree as one of their top lenders,” said Bob Smith, President of AmeriSave Mortgage Corporation. “I want to recognize the efforts of every team member, from loan origination to closing and beyond, who have played a part in this achievement. We will continue striving to retain a permanent spot on the LendingTree Top Ten.”

The quarterly “Top Ten” list is based on a weighted average of review rating and volume of customer reviews on the LendingTree (NASDAQ: TREE) website. This is AmeriSave’s eleventh appearance on the list in the past four years.

Choosing A Refinance Company That’s Right For You

There are many different motives behind why homeowners may choose to refinance their mortgages. Perhaps they are simply trying to obtain a lower rate, shorten the length of their mortgage term, switch mortgage types, or any other number of reasons. However, regardless of their intention for refinancing, deciding on the perfect lender for their specific needs should always be a top priority.

When it comes to choosing a mortgage lender, many borrowers’ top focus is on pricing. People want to go with the lender that’s going to give them the better deal. Even though pricing is the number one priority, there are other things to consider as well such as the loan programs offered, and the ease of working with the lender.

At AmeriSave, great rates and technology that makes obtaining a mortgage easy and efficient are our top priorities. We offer in-house processing, underwriting, closing, and funding, so that we can offer our very best rates and minimize delays.

It’s important to compare rates from multiple mortgage lenders to ensure you are receiving the deal that’s best for your needs. However, when comparing rates, keep in mind that in order to get the most accurate picture, you should compare rates for the same type of mortgage on the same day because the market changes daily. You will also need to review the cost of title insurance, closing/attorney and appraisal. Your Loan Estimate will show a breakdown of those fees.

For the financially savvy, refinancing your mortgage can be a very lucrative decision. Make sure you pick a lender that is going to offer you the best savings and meets all of your requirements. Head over to amerisave.com and get your rate locked in under ten minutes!

How To Sell To Millennial Homebuyers

When it comes to homeownership, there has definitely been a lag in the market brought on by the lack of participation from the millennial generation. There are many calculable reasons millennials have delayed homeownership with data showing the disparity between generation x and their millennial counterparts in regards to home prices, incomes, debt and other economic factors. However, lack of participation does not equate lack of desire, and as the younger generation has continued to age (the oldest of the millennials turning 36 this year) and reap the current economic benefits of increasing incomes and steady job growths as well as personal financial stability, we are beginning to see many more throw their hat into the housing ring.

With that being said, preparing a marketing strategy is more important than ever when selling to the millennial generation. Your audience is different, so expectations are different as well. Check out our 5 tips below for the best practices when selling to the millennial generation:

1. Get social

It is a widely known fact that millennials love social media. In fact, on Facebook alone, only 11% of 20-35 year olds don’t have an active account. If you’re not on social media you’re missing out on a gold mine of potential clients.

2. Location is key

For millennials, their dream home is more likely to depend on the location and neighborhood of the property than its aesthetic qualities. School district, community initiatives and business proximity all play a key role in selling to this demographic.

3. Be mobile friendly

Interacting with a generation in which 90% own smartphones and 93% are accessing the internet through mobile devices, it’s safe to say that making sure that you’re a mobile friendly agent is a great investment.

4. Be transparent

Authenticity is one of the best qualities you can develop when selling to millennials. This generation is being inundated with advertisements and sales pitches all day every day. They don’t want to be sold to. They want a transparent and honest relationship with their agent that provides education and clear information during their home buying process.

5. Build up your reviews

Thanks to the instantaneous nature of technology and endless resources at ones fingertips, the average millennial (first time homebuyer or not) will come to you already informed on the market and on you. Make sure you have positive online reviews placed on third party sites such as google and social media as well as on your personal webpage in order make it easy for them to choose you. This builds trust and establishes credibility between you and your clients

Staging Your Home for a Fast Sale

Staging Your Home For A Fast Sale

When it comes to selling a home fast, the staging and interior presentation can go a long way in persuading buyers to make a purchase.

Check out these 5 tips on how to stage a home in a way that showcases its strengths and de-emphasizes its weaknesses!

Tip #1 – Declutter

A cluttered home is a turn off. Make sure everything’s tidy and any excess junk is removed. You want the home to feel as open as possible.

Tip #2 – Neutral colors

Although you may love the electric blue kitchen or artistic horse mural in the living room, that’s not everyone’s cup of tea. Make sure all walls are painted a neutral color that won’t put off a potential buyer.

Tip #3 – Great Lighting

An important aspect to any home is the lighting. Make sure curtains aren’t drawn and let as much natural light inside as possible. Compensate for a dim lit room by replacing light fixtures and lamp bulbs with a higher wattage.

Tip #4 Group your furniture

Reposition your couch and chairs to help open a room up. Instead of having everything pushed up against a wall, bring your seating to the center of the room. Group couches and chairs into conversational arrangements, but remain mindful of traffic flow.

Tip #5 Accessorize

The right accessories can make your home feel more inviting. Make sure not to go overboard, however. Try accessorizing in 3’s or odd numbers and make sure the pieces are unifying.