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(마이애미) Millions of renters say they really want to buy a home this year‏ – Millions of renters say they really want to buy a home this year – CNN Money (마이애미)

(마이애미)

By Les Christie  @CNNMoney March 13, 2014: 10:02 AM ET  

 

homebuyer confidenceEven though the “vast majority” of respondents to Zillow’s survey said they felt confident they could afford a home in the next year, many will face obstacles that will prevent them from achieving that goal. 

 

 

 “The dream of homeownership remains very much alive and well,” said Zillow’s chief economist Stan Humphries. “But these aspirations must also contend with the current reality, and in many areas, conditions remain difficult.”

In all but one of 20 metro areas Zillow surveyed, 5% or more of residents said they wanted to buy a home over the next 12 months. The desire is particularly strong for renters: 10% of them want to buy. That would translate into 4.2 million first-time buyers, double the number who purchased in 2013.

That won’t happen. Inventories of homes for sale are up slightly, but there are still many local shortages.

And in some markets, like San Francisco, New York and Seattle, tight supply has translated into sky high prices few first-time buyers can afford. Nationwide, home prices are up some 11% last year, according to the S&P/Case-Shiller national home price index.

Meanwhile, mortgage rates have also been moving higher. The average rate for a 30-year fixed is about 4.3%, up about 0.8 of a percentage point compared with a year ago. That has made loan payments on a $200,000, 30-year mortgage about $90 a month more expensive.

First-time homebuyers squeezed
 

Even when buyers find deals they can afford, they still may not be able to get a loan. Lenders these days require solid credit scores, well-documented incomes and job histories, as well as substantial down payments, of 20% or more, to qualify for the best mortgage deals.

Homebuyers with little cash to put down and less than ideal credit scores can often get mortgages backed by the Federal Housing Administration. But the agency has been hiking its fees and changing the terms on its loans, which has made them less attractive.

Renters in Miami, Atlanta and Las Vegas expressed the most desire to become homeowners, according to Zillow’s index. Prices in the South Florida metro area are still about 40% off their highs and the median price of homes sold lately is well under $180,000, much more affordable than other major cities.

Meanwhile, renters in San Francisco, Los Angeles and Minneapolis were least aspirational about buying a home in the next year. To top of page  

 

(마이애미)

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About jennyformiamihome

성심껏 도와드리겠습니다. 연락주시면 바로 상세히 답변드립니다. Jenny Shin / 신정미 부동산 (Broker's Real Estate) 남부 플로리다 마이애미 지역 한인 부동산 주택매매 렌트 싱글하우스 타운하우스 콘도 브라워드 카운티 마이애미 데이드 카운티 포트로더데일 웨스턴 코랄스프링 도랄 Rent or Buy single house, town house and Condo Miami Dade County / Broward County, fort lauderdale, coral springs, copper city, weston, doral 2225 N. Commerce Pkwy #9 Weston, FL. 33326 Direct : 954-551-0236 Office : 954-384-1616 Fax : 954-697-0447 E-mail : jenny_shin62@hotmail.com

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JENNY SHIN PROFILE


Jenny Shin / 신정미 부동산
(Broker's Real Estate)
2225 N. Commerce Pkwy #9
Weston FL 33326
Direct : 954-551-0236
Office : 954-384-1616
Fax : 954-697-0447
E-mail : jenny_shin62@hotmail.com

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