Virginia Mortgage Loans

Becoming financially secure is an important goal for many people today, but some don’t realize just how much   homeownership   can help them achieve that dream. A recent report,   The Journey Toward Financial Freedom ,   surveys Americans about their perspective on financial wellness and their goals. It shows there may be a significant misconception about the role owning a home plays in building wealth: “Home ownership is one of the indicators Americans say is  least connected to financial health .” Two major personal wealth goals – homeownership and net worth – work hand-in-hand. Below are just a few reasons why, if you’re looking for financial security, homeownership should be a top priority. Homeownership Is an Important Cornerstone of Building Wealth Every three years, the  Federal Reserve  releases the  Survey of Consumer Finances  which highlights the difference in wealth between homeowners and renters. The graph below shows the finding...

  When you hear the phrase   home price appreciation , what does it mean to you? Through context clues alone, chances are you know it has to do with rising home prices. And as a seller, you know rising home prices are good news for your potential sale. But let’s look past the dollar signs and dive deeper into the concept. To truly understand home price appreciation, you need to know how it works and why it matters to you. Investopedia  defines appreciation like this: “ Appreciation, in general terms, is an increase in the value of an asset over time . The increase can occur for a number of reasons, including increased demand or weakening supply, or as a result of changes in inflation or interest rates. This is the opposite of depreciation, which is a decrease in value over time.”   When we consider this definition and how it applies to real estate, a few words stick out:  supply and demand . In today’s real estate market, we’re experiencing high buyer demand and...

I f you’re thinki ng of buying or selling a house, chances are you’re focusing on the many   extraordinary ways   it’ll change your life. What you may not realize is that decision impacts people’s lives far beyond your own. Home purchases and sales are significant drivers of economic activity. They have a major impact on your community and the entire U.S. economy via the multiple industries and professionals that take part in the process. The  National Association of Realtors  (NAR) releases a  report  each year that highlights just how much economic activity a home sale generates. The chart below shows how the sale of both a newly built home and an existing home impact the economy: To dive a level deeper, NAR also provides a detailed look at how that varies  state-by-state  for newly-built homes ( see map below ): As you can see, a single home sale can have a massive effect on the overall economy. Ali Wolf, Chief Economist for  Zonda , talks...