You can never have too much coffee.
READ MORE…
Powered by WPeMatico
21
Oct 21
Ben Simmons Lists New Jersey Home For $5 Million (PHOTOS)
Australian professional basketball player Ben Simmons has just listed his New Jersey home for $4,999,999. Located at 9 Miller Court in Moorestown, the home was built in 2019 and sits on nearly 2 acres of land. It features over 10,000 square feet of living space with 5 bedrooms, 5 full and 1 half bathrooms, 2-story foyer with staircase, elevator, 2-story great room, formal dining room, gourmet kitchen with double islands, breakfast room, office, media room with aquarium, lounge with wet bar, billiards room, lower level kitchenette, gaming room, 3-car garage and more. Outdoor features include 2 gated entrances, terrace and play area with turf grass.
CLICK HERE FOR THE LISTING
Powered by WPeMatico
21
Oct 21
Important Distinction: Homes Are Less Affordable, Not Unaffordable
It’s impossible to research the subject of buying a home without coming across a headline declaring that the fall in home affordability is a crisis. However, when we add context to the most recent affordability statistics, we soon realize that, though homes are less affordable than they have been over the last few years, they are more affordable than they historically have been.
Black Knight, a premier provider of data and analytics for the mortgage industry, just released their latest Monthly Mortgage Monitor which includes a new analysis of the affordability situation. Here’s what the report reveals:
“The monthly payment required to purchase the average priced home with a 20% down 30-year fixed rate mortgage increased by nearly 20% (+$210) over the first nine months of 2021, . . . It now requires 21.6% of the median household income to make the monthly mortgage payment on the average home purchase, the least affordable housing has been since 30-year rates rose to nearly 5% back in late 2018.”
Basically, the report shows that homes are less affordable today than at any other time in the last three years. However, in a previous report earlier this year, Black Knight calculated that the percentage of the median household income to make the monthly mortgage payment on the average home purchase over the last 25 years was 23.6% (see graph below):
Today’s payment-to-income ratio is more affordable than the average over the last 25 years. Given that context, we can see that American households still have the same ability to be homeowners as their parents did 20 years ago.
This confirms the recent analysis of ATTOM Data resources where Todd Teta, Chief Product and Technology Officer, explains:
“The typical median-priced home around the U.S. remains affordable to workers earning an average wage, despite prices that keep going through the roof. Super-low interests and rising pay continue to be the main reasons why.”
Bottom Line
It’s true that it’s less affordable to buy a home today than it has been the last few years. However, it’s more affordable to buy today than the average over the last 25 years. In other words, homes are less affordable, but they’re not unaffordable. That’s an important distinction.
Powered by WPeMatico
20
Oct 21
$5 Million Gated Stone & Stucco Home In Houston, Texas
LOCATION: 9 Gage Court, Houston, Texas
SQUARE FOOTAGE: 7,706
BEDROOMS & BATHROOMS: 5 bedrooms & 7 bathrooms
PRICE: $5,700,000
This stone & stucco home is located at 9 Gage Court in Houston, Texas.
It was built in 2015 and features approximately 7,706 square feet of living space with 5 bedrooms, 6 full and 1 half bathrooms, foyer with staircase, great room, formal dining room, gourmet kitchen, breakfast room, family room with wet bar, rear staircase, office, 4-car garage and more.
Outdoor features include a gated entrance, porte-cochere, covered/uncovered patios, kitchen/BBQ, fireplace and a swimming pool.
It is listed at $5,700,000.
CLICK HERE FOR THE LISTING
Powered by WPeMatico
20
Oct 21
13,000 Square Foot Home In Tuscaloosa, Alabama (PHOTOS)
LOCATION: 1701 Crown Pointe Boulevard, Tuscaloosa, Alabama
SQUARE FOOTAGE: 13,500
BEDROOMS & BATHROOMS: 6 bedrooms & 13 bathrooms
PRICE: $2,650,000
This home is located at 1701 Crown Pointe Boulevard in Tuscaloosa, Alabama.
It was built in 1996 and features approximately 13,500 square feet of living space with 6 bedrooms, 6 full and 7 half bathrooms, 2 staircases, elevator, 2-story great room, formal dining room, gourmet kitchen, breakfast room, office, hair salon, safe room, home theater, 4-car garage and more.
Outdoor features include a covered deck, patio, kitchen/BBQ and an infinity pool.
It is listed at $2,650,000.
CLICK HERE FOR THE LISTING
Powered by WPeMatico
