2013 home prices | First Option Mortgage, LLC - Part 4

Home Equity On the Rise

June 14, 2013

News of the housing recovery is spreading across America and household net worth jumped by $3 trillion dollars in the first quarter of this year. This equated to a spike in homeowner equity, rising 2.5% to its highest level since 2007. This is great news for the housing market and a true indicator that this […]

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What’s Ahead for Indiana Mortgage Rates

May 13, 2013

Indiana mortgage rates have continued to hover at near all-time lows. Inflation remains low and economic growth data has been mixed leading to little change in the current mortgage rates. But how long do we expect this trend to last? The Federal Reserves Role After the jobless rate fell to 7.5% in April, the benchmark […]

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Signs Your Neighborhood Caught the Housing Recovery Bug

May 06, 2013

Reports of inventory shortages and double-digit price increases are cropping up in many markets across the United States. This is particularly prevalent in markets that were hit hardest during the housing downturn, as the market corrects an overcorrection that occurred in 2007-2008. California, Las Vegas, and Detroit have all been experiencing a hot housing market […]

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Home Affordability Shifting from Renters to Homeowners

April 10, 2013

Depending on where you live, housing market prices may be outpacing increases in rent, but the cost of owning a home is still much lower than that of a renter, according to Trulia’s Winter 2013 Rent vs. Buy report. Top 100 Markets After factoring all cost components including transaction costs, taxes, and opportunity costs, Trulia found buying […]

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What’s Ahead for Mortgage Rates in 2013

April 09, 2013

The housing market is heating up and spring home-buying season is upon us so before you hit the pavement on your own housing search, now would be a good time to review what lays ahead in the mortgage markets as you consider your home purchase. Mortgage rates have been bouncing around the bottom since late […]

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The Phoenix (March Madness) Housing Boom

March 11, 2013

After suffering some of the most substantial loses during the housing crisis, with home prices falling off a full 55% between 2005 and 2011, Arizona is now experiencing a housing boom that has led prices to surge almost 30% since the beginning of 2012 and 40% since 2011. So what’s fueling this remarkable turnaround? Prices […]

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Tips For Purchasing a Short Sale in Columbus

February 07, 2013

Low unemployment rates, competitive Ohio mortgage rates, and an increase in demand have all resulted in a comeback in the Columbus housing market. 2012 represented the first year that saw a gain in Central Ohio housing since 2005. The increase was significant, as sales rose by 15.5% over 2011 and the median price of a home […]

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