Fannie Maeâs article, âWhat Consumers (Donât) Know About Mortgage Qualification Criteria,â revealed that âonly 5 to 16 percent of respondents know the correct ranges for key mortgage qualification criteria.â
Myth #1: âI Need a 20% Down Paymentâ
Fannie Maeâs survey revealed that consumers overestimate the down payment funds needed to qualify for a home loan. According to the report, 76% of Americans either donât know (40%) or are misinformed (36%) about the minimum down payment required. Many believe that they need at least 20% down to buy their dream home, but many programs actually let buyers put down as little as 3%. Below are the results of a Digital Risk survey of Millennials who recently purchased a home.
âAs you can see, 64.2% were able to purchase their home by putting down less than 20%, with 43.8% putting down less than 10%!
Myth #2: âI need a 780 FICO Score or Higher to Buyâ
The survey revealed that 59% of Americans either donât know (54%) or are misinformed (5%) about what FICO score is necessary to qualify. Many Americans believe a âgoodâ credit score is 780 or higher. To help debunk this myth, letâs take a look at Ellie Maeâs latest Origination Insight Report, which focuses on recently closed (approved) loans. As you can see below, 54.7% of approved mortgages had a credit score of 600-749.
âWhether buying your first home or moving up to your dream home, knowing your options will make the mortgage process easier. Your dream home may already be within your reach.
âIt is common knowledge that a large number of homes sell during the spring-buying season. For that reason, many homeowners hold off on putting their homes on the market until then. The question is whether or not that will be a good strategy this year. The other listings that do come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market in the spring, as compared to the rest of the year? The National Association of Realtors (NAR) recently revealed the months in which most people listed their homes for sale in 2016. Here is a graphic showing the results:
âThe three months in the second quarter of the year (represented in red) are consistently the most popular months for sellers to list their homes on the market. Last year, the number of homes available for sale in January was 1,820,000.
That number spiked to 2,140,000 by May!
What does this mean to you?
With the national job situation improving, and mortgage interest rates projected to rise later in the year, buyers are not waiting until the spring; they are out looking for a home right now. If you are looking to sell this year, waiting until the spring to list your home means you will have the greatest competition for a buyer.
âIt may make sense to beat the rush of housing inventory that will enter the market in the spring and list your home today.
Rummy talks about how to buy a home with a low or no down payment! Watch the video to know more!
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If youâve been having a problem finding the perfect single family w/Perfect price your search is over. Fully renovated top to bottom, new kitchen, 4 rooms , 2 new bathrooms, living room, family room, this raised ranch has it all. PlusÍ¾ Basket ball court, above ground pool, full sized shed, lake right's .
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Communication is one of the most important factors involved in a successful real estate business. One of the best forms of communication in our modern society is the phone call. Think about it; we need to speak to you in order to understand what it is you need. You need to speak to us in order to understand how we intend on helping you. Makes sense, right? Otherwise we are both relying on luck to ensure that we meet our goals. Your home will always be one of the most expensive purchases and sales of your life. Do you really want to rely on luck in either of those situations?
If you agree with the above statement, then we can now say that it is a fact that communication is one of the most if not the most important part of the home selling and buying process. With that being said letâs point out a contradiction that often conflicts with that fact.
Communication is the Key
I could understand if you were a billionaire like Bruce Wayne and had a guy like Alfred to speak for you, but if youâre under the 10-digit income bracket it would be foolish to neglect something that cost you nothing, but can give you everything. Whatâs that you say, communication costs you time? Okay, thatâs true, but with all the technology we have today that statement becomes an excuse.
Between texting, voicemail, Skype, and the tried and true old fashioned phone call, you have no reason to claim that a 10-minute conversation with a real estate expert is a waste of your time. Unless of course you donât really want to sell your home. But, if you do we suggest you make the time. We do.
There is a wise old saying; Communication is the key to success. Do you want success? Thereâs also another wise old saying; Opportunity knocks. Do you want opportunity? If you answered yes to both of those questions, you might like this; If opportunity had the key, would it even have to knock?
âSometimes when we call a home owner/seller we are confronted with a challenging situation. By the time, we call this person has already been inundated with so many calls that they are understandably frustrated. We may get cursed out, hung up on, yelled at, etc. The most common question is, âwhy do I keep getting these calls?â Again, this is understandable and any professional in the business shouldnât take this personally.
At this point the first thing you will want to know is; Does this person still wants to sell their home? Remember they are upset, they may not be thinking rationally, but that doesnât mean theyâve necessarily changed their minds.
This is when communication skills are of the most importance. Talking as well as listening. You see, your average agent will give up when faced with this challenge. Not us. It is our job to help people who need to sell their properties, sell their properties. If youâre in the Real Estate business, do not kid yourself, this is in your job description. This is simple math once again;
Real estate is just like any other business. A large group of people have a need for something, this creates a market. A company offers a product that solves the problem. If said product satisfies someone in the market, then an exchange is completed and a sale is closed. This gets repeated over and over. When demand exceeds supply the market gets flooded with âproblem solversâ.
âWho You Gonna Call?
The product we offer is service. The service; Assisting you with the sale of your home. The word âassistingâ is used because we coordinate with the homeowner/seller to ensure that all parties including us are satisfied in the end. This is almost impossible without communication. When we call that person 10, 20, 30 times itâs not just because we want the listing. We keep calling because you have either confirmed or have not confirmed that you want to sell your home. We provide âCONSISTENT, PERSISTENT, ASSISTANCE. It wouldnât make any sense at all for us to stop trying to contact you unless we are sure that you are 100% sure that you DO NOT want to sell.
Think about it; Is it smarter to hire the guys who gave up on trying to find out what your needs are or the relentless guys who keep calling, texting, and leaving you voicemail's and emails just to find out if you need any assistance? DO you want a quitter or a pushover representing you at the closing table?
There are a lot of agencies out there who are just looking to get your listing so they can use your lawn to promote their own company and agenda. Thatâs not how we choose to build our brand. Our goal is to use CONSISTENT, PERSISTENT, ASSISTANCE to meet the goals of all parties involved in the selling process.
The product we offer is service. The service; Assisting you with the sale of your home. We believe in our product so much that failing to communicate with those in need of assistance is not an option. So, if you are in the New York area and have a home to sell, we may be calling you or you can call us. Remember opportunity doesnât have to knock if it has the key.
âThe best way out is always through.â
â Robert Frost
âThere are many potential homebuyers, and even sellers, who believe that they need at least a 20% down payment in order to buy a home or move on to their next home. Time after time, we have dispelled this myth by showing that many loan programs allow you to put down as little as 3% (or 0% with a VA loan). If you have saved up your down payment and are ready to start your home search, one other piece of the puzzle is to make sure that you have saved enough for your closing costs. Freddie Mac defines closing costs as:
âClosing costs, also called settlement fees, will need to be paid when you obtain a mortgage. These are fees charged by people representing your purchase, including your lender, real estate agent, and other third parties involved in the transaction. Closing costs are typically between 2 and 5% of your purchase price.â
Weâve recently heard from many first-time homebuyers that they wished that someone had let them know that closing costs could be so high. If you think about it, with a low down payment program, your closing costs could equal the amount that you saved for your down payment. Here is a list of just some of the fees/costs that may be included in your closing costs, depending on where the home you wish to purchase is located:
Work with your lender and real estate agent to see if there are any ways to decrease or defer your closing costs. There are no-closing mortgages available, but they end up costing you more in the end with a higher interest rate, or by wrapping the closing costs into the total cost of the mortgage (meaning youâll end up paying interest on your closing costs). Home buyers can also negotiate with the seller over who pays these fees. Sometimes the seller will agree to assume the buyerâs closing fees to get the deal finalized, which is known in the industry as âsellerâs concession.â
Speak with your lender and agent early and often to determine how much youâll be responsible for at closing. Finding out youâll need to come up with thousands of dollars right before closing is not a surprise anyone is ever looking forward to.
When it comes to buying a home, whether you are a rookie homebuyer or have gone through the process many times, having a local real estate expert who is well versed in the neighborhood you are looking to move into, as well as the trends of that area, should be your goal. One great example of an agent who is in your corner and is always looking out for your best interests is one of the main characters on ABC's Modern Family, Phil Dunphy. For those who aren't familiar, the character Phil is a Realtor with a huge heart who always strives to do his best for his family and his clients. In one recent episode, Phil even shared the oath that he created and holds himself accountable to:
"On my honor, I promise to aid in man's quest for shelter, to recognize I'm not just in the business of houses -- I'm in the business of dreams in the shape of houses. To disclose all illegal additions, shoddy construction, murders, and ghosts. And to put my clients' needs before my own."
While this might seem silly, and it was definitely written with humor in mind, the themes of helping someone achieve the American Dream and putting a client's needs above your own are not to be taken lightly.
âWhen you make the decision to enter the housing market, as either a buyer or a seller, make sure you look for an agent who exemplifies these values and will help you through every step of the process.
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 is the Housing Affordability Index, as reported by the National Association of Realtors (NAR). Here is how NAR defines the index:
âThe Housing Affordability Index measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national level based on the most recent price and income data.â
Basically, a value of 100 means a family earning the median income earns enough to qualify for a mortgage on a median-priced home, based on the price and mortgage interest rates at the time. Anything above 100 means the family has more than enough to qualify. The higher the index, the easier it is to afford a home.
Why the concern?
The index has been declining over the last several years as home values increased. Some are concerned that too many buyers could be priced out of the market. But, wait a minuteâ¦ Though the index skyrocketed from 2009 through 2013, we must realize during that time the housing crisis left the market with an overabundance of housing inventory with as many as one out of three listings being a distressed property (foreclosure or short sale). All prices dropped dramatically and distressed properties sold at major discounts. Then, mortgage rates fell like a rock. The market is recovering, and values are coming back nicely. That has caused the index to fall. However, letâs remove the crisis years and look at the current index as compared to the index from 1990 â 2008:
âWe can see that, even though prices have increased, mortgage rates are still lower than historical averages and have put the index in a better position than every year for the nineteen years before the crash.
âThe Housing Affordability Index is in great shape and should not be seen as a challenge to the real estate marketâs continued recovery.
âRecently released data from the National Center for Health Statistics revealed that 1.3 million Millennial women gave birth for the first time in 2015. There are now over 16 million women in this generation who have become mothers.
âAll told, Millennial women (those born between 1981 to 1997) accounted for about eight in ten (82%) of U.S. births in 2015.â
The data also shows that this generation has waited until later in life to become parents as only 42% of Millennial women were moms in 2014, compared to 49% of Generation X at the same age. A Pew Research Center article discussing the data, points to social influences that may have contributed to the delay:
âThe rising age at first birth is hardly limited to the Millennial generation. It has been a trend since at least 1970. Many factors may contribute, including a shift away from marriage, increasing educational attainment and the movement of women into the labor force.â
Do Millennials Want to Be Parents?
âWhile Millennials may be delaying parenthood, itâs not for a lack of interest in eventually becoming moms and dads. Members of this generation rated being a good parent as a top priority in a 2010 Pew Research Center survey. Some 52% said it was one of the most important goals in their lives, well ahead of having a successful marriage, which 30% said was one of their most important lifetime goals.â
So, What Does This Mean for the Housing Market?
As Jonathan Smoke, Chief Economist for realtor.com explained: âAt any given time in our history, demographics would explain 60-80% of whatâs happening [in the market], and we are in a period of time where Millennials make up a largest demographic group.â As more and more Millennial families are formed, this generation will shift their focus to providing the best home for their children to grow up in, the best school districts, and often to the stability that owning a home of their own provides. Two-thirds of Millennials have not yet reached the average first-time home buying age of 32, as reported by the National Association of Realtor. The homeownership rate amongst Millennials has nowhere to go but up!
Bottom LineMillennials as a generation have delayed traditional social norms until later in their lives. Whether getting married, having children or buying a home, the desire to provide for their family is still there, even if it takes a little while longer than it did for previous generations.
ottom LineMillennials as a generation have delayed traditional social norms until later in their lives. Whether getting married, having children or buying a home, the desire to provide for their family is still there, even if it takes a little while longer than it did for previous generations.
Would you mind having a beautiful view of the water right in your backyard? How about an attached garage, with gym and laundry on site? If this sounds good to you continue reading; You will fall in love with this 2 BD RM 1 Bath condo thatâs actually located in a country club. The living room and bedrooms host beautifully placed angles that will allow you to make the best of every sq. inch. Once you see the fireplace and natural light hitting the slick kitchen bar area, itâs only a matter of time before you start planning your house warming party. Outside you and your guests will find it easy to move about as your new home is located near public transportation, major highways, schools, and shops. Donât wait until itâs too late. Call now. We might even supply the wine glasses!
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Have you ever been flipping through the channels, only to find yourself glued to the couch in an HGTV binge session? Weâve all been thereâ¦ watching entire seasons of âLove it or List it,â âFixer Upper,â âHouse Hunters,â âProperty Brothers,â and so many more, just in one sitting. When youâre in the middle of your real estate themed show marathon, you might start to think that everything you see on TV must be how it works in real life, but you may need a reality check.
Reality TV Show Myths vs. Real Life:
Myth #1: Buyers look at 3 homes and make a decision to purchase one of them.
Truth: There may be buyers who fall in love and buy the first home they see, but according to the National Association of Realtors the average homebuyer tours 10 homes as a part of their search.
Myth #2: The houses the buyers are touring are still for sale.
Truth: The reality is being staged for TV. Many of the homes being shown are already sold and are off the market.
Myth #3: The buyers havenât made a purchase decision yet.
Truth: Since there is no way to show the entire buying process in a 30-minute show, TV producers often choose buyers who are further along in the process and have already chosen a home to buy.
Myth #4: If you list your home for sale, it will ALWAYS sell at the Open House.
Truth: Of course this would be great! Open houses are important to guarantee the most exposure to buyers in your area, but are only a PIECE of the overall marketing of your home. Just realize that many homes are sold during regular listing appointments as well.
Myth #5: Homeowners make a decision about selling their home after a 5-minute conversation.
Truth: Similar to the buyers portrayed on the shows, many of the sellers have already spent hours deliberating the decision to list their homes and move on with their lives/goals.
Having an experienced professional on your side while navigating the real estate market is the best way to guarantee that you can make the home of your dreams a reality!
Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.
Many potential home buyers overestimate the down payment and credit scores needed to qualify for a mortgage today. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so as well.
Another Listing Sold in East 231st Street in the Bronx! Congratulations to our Buyer Norberto for having us help you find your new Home! And to Deon for trusting us in the Sale of your property! Thank you! #anotherhomesold #newhomeowner#listingsold #realestate #nyreex #bronx #listing#agent #broker #sold
Let’s be honest, the average American has seen his or her fair share of debt problems by the time seriously buying a home comes to mind. By this time student loans, over-spending, or unfortunate life events may have your credit score attempting to dig itself out of a grave. Thankfully the tide may have just turned, washing over worries, and reinvigorating the hopes and dreams of prospective home owners.
FHA (Federal Housing Administration) has just announced that they are cutting annual mortgage insurance premiums from 0.85% to 60%. That my friend is a math equation that = HOPE for those struggling to meet the requirements of conventional lenders. In fact, NAR (National Association of Realtors) President, William Brown said, “Now, we have a real opportunity to get back on track.” Let’s not just take the good news and run though. To understand how this affects us in the present, we must first understand how we got here.
Recess is Not Always FunRecess Is Not Alwys Fun
Following the Recession of 2008, the housing industry entered a degree of nervousness that sent shockwaves through the market. FHA increased monthly mortgage premiums to levels that priced up to 1.65 million renters out of the market. In other words, lenders were so scared that they wouldn’t get paid back they were attempting to cover their rear ends. The FHA claimed it needed to strengthen its MMIF (Mutual Mortgage Insurance Fund). Fast forward to the present day, continued growth in the MMIF has resulted in the glorious reduction mentioned in the title of this blog. I don’t know about you, but when I see percentages and acronyms I just want to cut to the chase. What exactly does all this mean?
An Offer You Can't Refuse
Here’s the simple break down;
FHA mortgages assist buyers on fixed income by accepting a lower down payment than traditional loans. Along with this home loan you are required to get a certain amount of insurance. Lowering the insurance premium ensures more responsible borrowers are suddenly eligible to finance a home through FHA. The more borrowers get FHA loans, the more money gets put into that MMI Fund. This keeps everyone happy and at the least cuts out a huge excuse to raise premiums. This basically all means that they want you to get that home, maybe even more than you do.
There it is, the good news you were looking for. Now is the time. Don’t let this be another year where you look back and say, “I should have…” The path has been laid out for you, all you need to do now is walk it.
It appears that Americans are regaining faith in the U.S. economy. The following indexes have each shown a dramatic jump in consumer confidence in their latest surveys:
It usually means good news for the housing market when the country sees an optimistic future. People begin to dream again about the home their family has always wanted, and some make plans to finally make that dream come true. If you are considering moving up to your dream home, it may be better to do it earlier in the year than later. The two components of your monthly mortgage payment (home prices and interest rates) are both projected to increase as the year moves forward, and interest rates may increase rather dramatically. Here are some predictions on where rates will be by the end of the year:
"We think that conforming 30-year fixed rates probably make it into the 4.625 percent to 4.75 percent range at some point during 2017 as a peak."
Svenja Gudell, Zillow's Chief Economist:
"I wouldn't be surprised if the 30-year fixed mortgage rate hits 4.75 percent."
Mark Fleming, the Chief Economist at First American:
"[I see] mortgage rates getting much closer to 5 percent at the end of next year."
Lawrence Yun, NAR Chief Economist:
"By this time next year, expect the 30-year fixed rate to likely be in the 4.5 percent to 5 percent range."
If you are feeling good about your family's economic future and are considering making a move to your dream home, doing it sooner rather than later makes the most sense.
We can hit you with advice and free information until your eyes and ears hurt, but we know when it comes to money most people want to see results. If we say we’re going to hit the ground running in 2017 there is only one way to prove a statement like that; through ACTION
In our most recent blogs and videos we stressed ACTION; It’s a new year! Go out there and get it done! Just DO It! Well let’s see, it’s only the 11th and already we have a CLOSING to tell you about. The best part about this sale is the fact that we got the job done where others had given up.
Are you wondering if this is the right time to sell? Let me tell you a story about this listing we just CLOSED today, then I’ll let you decide. This property was back and forth on the market for about 2 years. Initial thoughts; 2 years, the problem is probably price. You read that correctly,” the problem” was probably price. Listen, there is always a problem. Whether it’s life or business there is always a problem that needs to be solved and this is where a smart individual seeks the help of an EXPERT. With this situation, the problem was price. The seller was not getting the price they wanted. In 2016 we spoke and put the property on the market. We received several offer’s. Being that it needed rehab the best offer was cash deal. After working out the terms this property was SOLD to cash investor. This is just a taste of 2017. We promise you this is JUST THE BEGINNING. We strongly suggest you stay tuned!
This market has low inventory. With current mortgage rates, and qualifying requirement being more lenient they got the price they were looking for. The Cash Investor will renovate and HOLD the Property.
“There is always a way forward if the responsible parties are willing to act.”
Many people wonder whether they should hire a real estate professional to assist them in buying their dream home or if they should first try to do it on their own. In today's market: you need an experienced professional!
You Need an Expert Guide if You Are Traveling a Dangerous Path
The field of real estate is loaded with land mines; you need a true expert to guide you through the dangerous pitfalls that currently exist. Finding a home that is priced appropriately and is ready for you to move into can be tricky. An agent listens to your wants and needs, and can sift through the homes that do not fit within the parameters of your "dream home." A great agent will also have relationships with mortgage professionals and other experts that you will need in securing your dream home.
You Need a Skilled Negotiator
In today's market, hiring a talented negotiator could save you thousands, perhaps tens of thousands of dollars. Each step of the way - from the original offer to the possible renegotiation of that offer after a home inspection, to the possible cancellation of the deal based on a troubled appraisal - you need someone who can keep the deal together until it closes. Realize that when an agent is negotiating their commission with you, they are negotiating their own salary; the salary that keeps a roof over their family's head; the salary that puts food on their family's table. If they are quick to take less when negotiating for themselves and their families, what makes you think they will not act the same way when negotiating for you and your family? If they were Clark Kent when negotiating with you, they will not turn into Superman when negotiating with the buyer or seller in your deal.
Famous sayings become famous because they are true. You get what you pay for. Just like a good accountant or a good attorney, a good agent will save you money...not cost you money.
It was Jim Rohn who said, "Time is more valuable than money. You can get more money, but you cannot get more time". Letâs take a few minutes ofâ¦time to think about that. I assure you it will not be wasted.
How much time would you say it takes you to commute to work, find parking, shop for groceries or cook the food you just brought home? Let's go a step further; How much time do you spend on Facebook, Instagram, Twitter, or just scrolling through your phone looking for something to catch your attention? The answer is; More than you can afford to.
Look at the year that just passed. By the time 2016 ended published reports claimed that close to 200 celebrity deaths had occurred. Many at a relatively young age. Why bring up celebrity deaths you ask? Simple, because when grandma passes away you unfortunately kind of expect it, but when your childhood celebrity crush dies you start to question your own mortality. So, what's all of this have to do with time?
If you stop and come to terms with the reality that you will not be here forever you may just start living your life a little differently. The time you waste flipping through senseless meme's and news articles or binge watching the latest Netflix series could be used to ensure that the rest of your life rewards you for the work you are putting in now. In addition, if you have kids you might be thinking of ensuring their success and longevity.
When you really break it down, time is just math. Numbers. An apparently irreversible succession from the past through the present to the future. The most important number to us would probably be 24, as this is the number of hours we get in a day. Think about this; In this fast-paced world, we now live in you can get news seconds after it happens, order food and have it in front of you before you can pull the money out your pocket, buy a dress for the prom and have it delivered to your doorstep, or even move millions of dollars with the push of a button without leaving your seat. Do you really think time is going to wait for you figure things out?
Just like every other math problem, time can be manipulated. For example; There is more than one way to solve an equation, right? There is more than one way to spend 24 hours. Take me for example. I have a set list of things to do today. I set aside 1 hour to write this blog. When that hour is up this is done. It gets checked off the list and I move on to the next thing. A sense of accomplishment is felt and I get the motivation to continue the process. No, it will not always be pretty, but at least youâre putting the wheels in motion and driving forward, not stuck in neutral.
If you're a young go getter and find a way to make a million bucks flipping a few properties or trading on the stock market, there is a possibility that you could lose it. The good news is that you will have time to pick yourself up and do it again. Even better is the fact that this time you know what mistakes not to make. On the other hand, if you are sitting around hoping that the good life just falls on your lap right in between the Cheetos and remote you're doomed to be watching a re-run of your life until it ends.
The moral of the story here is; Just DO It. If your kids moved out 5 years ago, and you're still living in a 5br home with your wife, don't you think it's time to downgrade and spend some of the extra money on a few nice trips? Oh, you say your investment properties are finally starting to pay off? That's great! Now go get another one or maybe two. What are you waiting for, interest rates to go up, warmer weather, next year?!
You can tweet, surf Facebook, post memes on Instagram, watch the Walking Dead, or smell the damn roses after you're comfortably set. Right now, while you have the TIME and ENERGY to meet your goals; GET IT DONE. Iâm not saying you canât sit back and relax or recharge. Of course, you need to do that, youâre human. Too much of anything will hurt you, even work. What I am saying is, if you never get off your butt and fight for what you want in the first place, then you donât deserve to rest. You donât need to recharge if you havenât even used any juice. Your battery should be on full. 4-5 bars.
What should you do? Cut out the unnecessary âtime vampiresâ in your life and concentrate on setting aside more time for YOU and your FUTURE. I donât care how smart or tough you are, Father Time is undefeated.
The 3 Things You Cannot Recover in Life:
1. The moment after it's missed.
2. The word after it's said.
3. The time after it's gone.
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 "an escalator to wealth." Bach went on to explain:
"If millennials don't buy a home, their chances of actually having any wealth in this country are little to none. The average homeowner to this day is 38 times wealthier than a renter."
In his bestselling book, "The Automatic Millionaire," Bach does the math:
"As a renter, you can easily spend half a million dollars or more on rent over the years ($1,500 a month for 30 years comes to $540,000), and in the end wind up just where you started -- owning nothing. Or you can buy a house and spend the same amount paying down a mortgage, and in the end wind up owning your own home free and clear!"
Who is David Bach?
Bach is a self-made millionaire who has written nine consecutive New York Times bestsellers. His book, "The Automatic Millionaire," spent 31 weeks on the New York Times bestseller list. He is one of the only business authors in history to have four books simultaneously on the New York Times, Wall Street Journal, BusinessWeek and USA Today bestseller lists. He has been a contributor to NBC's Today Show appearing more than 100 times, has been a regular on ABC, CBS, Fox, CNBC, CNN, Yahoo, The View, and PBS, and has been profiled in many major publications, including The New York Times, BusinessWeek, USA Today, People, Reader's Digest, Time, Financial Times, The Washington Post, The Wall Street Journal, Working Woman, Glamour, Family Circle, Redbook, Huffington Post, Business Insider, Investors' Business Daily, and Forbes.
Whenever a well-respected millionaire gives investment advice, people usually clamor to hear it. This millionaire gave simple advice - if you don't yet live in your own home, go buy one.