{"id":1932,"date":"2017-08-10T10:00:28","date_gmt":"2017-08-10T10:00:28","guid":{"rendered":"https:\/\/thezakariagroup.com\/hey-millennial-homeowners-it-may-be-time-to-sell\/"},"modified":"2017-08-10T10:00:28","modified_gmt":"2017-08-10T10:00:28","slug":"hey-millennial-homeowners-it-may-be-time-to-sell","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/hey-millennial-homeowners-it-may-be-time-to-sell\/","title":{"rendered":"Hey, Millennial Homeowners!! It May Be Time to Sell"},"content":{"rendered":"
\n

\"Hey,<\/p>\n

Contrary to what many believe, Millennials are not the \u2018renter\u2019 generation. Millennials purchased a larger percentage (34%) of homes in the U.S. than any other age group in 2017 and the most recent Census Bureau<\/em> report shows that the homeownership rate among Millennials is finally on the rise<\/a>.<\/p>\n

<\/span>Many Millennials took advantage of post housing crash prices and the First-Time Homebuyers\u2019 Tax Credit<\/em> and jumped into homeownership in 2010. If you are one of these buyers, now may be the time to sell for many reasons. Here are a few:<\/p>\n

1. Equity Build-Up<\/strong><\/h4>\n

Home prices have been on the rise since the beginning of 2012 and your house may have appreciated by more than you think. ATTOM Data Solutions<\/em>, in their <\/em>Q2 2017 U.S. Home Sales Report<\/em><\/a> revealed that:<\/p>\n

\n

\u201c\u2026homeowners who sold in the second quarter realized an average price gain of $51,000 since purchase \u2014 the highest average price gain for home sellers since Q2 2007, when it was $57,000.<\/em><\/p>\n

The average home seller price gain of $51,000 in Q2 2017 represented an average return of 26 percent on the previous purchase price of the home, the highest average home seller return since Q3 2007, when it was 27 percent.\u201d<\/em><\/p>\n<\/blockquote>\n

2. Projected Home Price Increases<\/strong><\/h4>\n

If you just got married or just found out you are about to become a parent, you may have plans to move up a bigger home or perhaps move to a different area. Waiting to buy a more expensive home in this market probably doesn\u2019t make sense. The experts contacted for the Home Price Expectation Survey<\/em><\/a> are projecting home prices to increase by nearly 5% over the next year. Yes, your house\u2019s price will increase but not as much as a home currently valued higher than yours.<\/p>\n

3. Projected Interest Rate Increases<\/strong><\/h4>\n

The Mortgage Bankers\u2019 Association<\/em>, Freddie Mac, Fannie Mae<\/em> and the National Association of Realtors<\/em> are each projecting mortgage rates to increase over the next year.<\/p>\n

Higher PRICES + Higher INTEREST RATES = LARGER MORTGAGE PAYMENTS.<\/strong><\/h4>\n

Bottom Line<\/strong><\/h3>\n

If you are lucky enough to be one of those Millennials who purchased a house in 2010 (or even later), now might be the perfect time to move up to the home of your dreams!<\/p>\n<\/div>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

Contrary to what many believe, Millennials are not the \u2018renter\u2019 generation. Millennials purchased a larger percentage (34%) of homes in the U.S. than any other age group in 2017 and the most recent Census Bureau report shows that the homeownership rate among Millennials is finally on the rise. Many Millennials took advantage of post housing […]<\/p>\n","protected":false},"author":101010,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[100,109,101],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"\nHey, Millennial Homeowners!! 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