It is more affordable to buy a home than rent in America’s 100 biggest metropolitan areas, this according to Trulia’s Summer 2012 Rent vs. Buy Report. According to the Trulia report, for the period of June 1, 2012 and August 31, 2012 nationwide, homeownership was 45% cheaper than renting.
Buying a Home
One of the most frustrating factors in the house hunting process that many people face is a lack of communication. Many real estate agents don’t keep house hunters abreast of changes that take place during the process. Excellent communication is a feature that our company prides itself on.
While the nationwide foreclosure filings decreased in August 2012 compared to the previous year, Maryland’s foreclosure filings rose significantly, this according to RealtyTrac’s latest U.S. Foreclosure Market Report. RealtyTrac reported that in August this year, Maryland’s foreclosure filings rose by 54% compared to the previous year.
According to Trulia’s Price Monitor, asking prices of homes in August this year increased by 2.3% compared to the previous year. This was the biggest year-over-year increase since the U.S. recession, Trulia reported. Not including foreclosures, Trulia reported that asking prices increased nationwide by 3.8% compared to the previous year.
The average 30-year and 15-year mortgage rates remain close to record lows, this according to the latest results of Freddie Mac’s Primary Mortgage Market Survey. Last Sept. 6, Freddie Mac reported that the 30-year fixed-rate mortgage averaged at 3.55%, a decrease from last week’s average rate of 3.59%. Six weeks ago, the 30-year fixed-rate mortgage …