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2017 Real Estate Market Developments Déjà vu All Over Again?

Wednesday, June 14th, 2017 at 12:09pm. 384 Views, 0 Comments.

 

Written by Robert H. Ruth

What is the State of the Market?

The market is experiencing increasing sales volume fueled by a shortage of inventory. 

  • Current inventory is less than 4 months, 2 months in some metro areas
  • Home price appreciation is up over 6% YTD, and could increase by 10% this year
  • Demand is at the strongest levels since 2012

Factors Influencing Growth

Interest rates are not dramatically increasing as had been expected, but rather, have moderated as has the 10 Yr. Treasury Yield: 

Date

30 Yr. Fixed Rate

10 Yr. Treasury Yield

11/8 election

3.500%

1.93

12/8

4.000

2.40

1/8

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Top 5 Reasons Millennials Should Buy Their Own Home

Thursday, May 18th, 2017 at 1:30pm. 366 Views, 0 Comments.

Written by Robert H. Ruth

Here we are at the height of the Spring home buying season and the media is abuzz with news about the Real Estate market surging.  In many locations across the country, a shortage of inventory has fueled a seller’s market with the presence of bidding wars for properties and pricing rising rapidly.  

Much of the focus in the media has been on trying to decipher the intentions of the millennial generation and whether they will buy homes or continue to rent. And quite frankly, the idea of figuring out what an entire generation will do is complete nonsense. Millennials will buy when it makes sense for them to do so, not before.  

Regardless of whether they buy now, or in the future, there are 5 things about home…

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Fannie Mae Announces Student Loan Debt Solutions

Thursday, May 18th, 2017 at 12:37pm. 166 Views, 0 Comments.

Written by Robert H. Ruth

This is a BIG Deal for Homebuyers in General, Millennial Buyers in Particular

Last week I provided an overview of the scope of the student loan debt situation in America and nowhere is the situation as impactful as when someone with student debt tries to purchase a home. This issue alone has held the housing market back from a truly significant rebound, and is putting the millennial generation behind their parent’s generation in creating wealth for their futures.  

In a recent announcement, Fannie Mae has publicly stated that they intend to be part of the solution by “implementing new policies to help borrowers qualify for a home loan and reduce student debt.”

Here is a link to the official press release…

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How Bad is the Student Loan Debt Situation in the United States?

Thursday, May 18th, 2017 at 11:36am. 327 Views, 0 Comments.

Written by Robert H. Ruth

The financial burden faced by the millennial generation is simply staggering.  Here are a few statistics that portray the breadth of the problem, which is now the second highest consumer debt category behind only mortgage indebtedness, and higher than both credit cards and auto loans:

  • 44.2 Million Americans have student loan debt, or 7 out of every 10 college graduates
  • The average indebtedness of the Class of 2016 was $37,172
  • More than 42 million people have student loan debt of  $100,000 or less
  • Over 2 million borrowers had student loan debt greater than $100,000, with 20% of that total (415,000 people) have student loan debt greater than $200,000
  • The largest concentration of student loan debt is…

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Are You A Rowboat or a Sailboat Real Estate Professional?

Monday, May 15th, 2017 at 10:56am. 156 Views, 0 Comments.

Written by Robert H. Ruth

“ Sometimes the path you’re on is not as important as the direction you're heading." - Kevin Smith


In the real estate industry, like many other industries, knowledge is a highly valued commodity.  The generally accepted thinking is that the more time you have in the business, the more knowledge you have amassed, and that cumulative knowledge can be used for the benefit of your clients. This is certainly true.

It is also true that over time you have been a participant in more transactions which gives you a wealth of experience in dealing with a variety of situations. This experience and situational awareness that can only be developed over time can be of tremendous value to clients.

Our industry then, is one…

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Adjustable Rate Mortgage Deep Dive - Part 2

Thursday, May 11th, 2017 at 5:43pm. 141 Views, 0 Comments.

Written by Robert H. Ruth


In my last post, I gave an overview explaining how Adjustable Rate Mortgages are priced in the marketplace, and compared the pricing function to one used in retailing. This post will explore the 3 main types of ARM loans, how the rates can change over time, and what the impact of rate changes have on a borrower’s monthly payments.

Borrowers have 3 ARM Choices

Basically, there are 3 main variations of an ARM that are widely available for homebuyers. They are the 5/1 , 7/1, and 10/1 ARM.  These loans are known as “hybrid” Adjustable Rate Mortgages.

  • Just as a hybrid automobile gets great gas mileage because it has the feature of electric assisted power combined with gasoline power, a hybrid ARM has…

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Adjustable Rate Mortgage Deep Dive - Part 1

Monday, May 8th, 2017 at 2:43pm. 111 Views, 0 Comments.


Written by Robert H. Ruth


The Basics of Adjustable Rate Mortgages


Most buyers understand the basics of a fixed rate mortgage…there isn’t much to explain. The rate and the payment are fixed…they never change…You pay the same amount for a specific period of time and then the loan is paid off.  It’s a pretty straightforward concept.

But there is another type of mortgage, one that does not have fixed rates that never change. It is called an Adjustable Rate Mortgage, or ARM. The purpose of this article is to explain the basics of ARM loans so you will have a fundamental concept of how they work.  However, before we explain ARM loans, it is helpful to explain how everyday goods are sold in the marketplace.

Say you go into a large…

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What’s Better for a Homebuyer? 30 Year Fixed Rate vs. 15 Year Fixed Rate

Thursday, April 20th, 2017 at 2:21pm. 316 Views, 0 Comments.

Written by Robert H. Ruth

This is a great question. It is too bad that there is no absolutely correct answer. The best response is “it depends on your circumstances”.  Prior to diving into this topic, let’s identify:


The Basics:

Here are the basic aspects of each product.

  • Both products feature fixed rates meaning the interest rate and payment will not change for the duration of the loan.
  • The 30 year loan has a higher interest rate but a lower monthly payment. The lower payment increases a borrower’s affordability , but there is a tradeoff : the longer term means you will pay more interest over the life of the loan
  • The 15 year loan will have a lower rate but a higher monthly payment. The higher payment may decrease your…

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What’s The Difference Between an Appraisal and a Home Inspection?

Thursday, April 13th, 2017 at 10:37am. 371 Views, 0 Comments.

Written by Robert H. Ruth

This is a very important question, often misunderstood by first time home buyers. It is easy to confuse the two, and they each have different purposes, so let’s look at each in greater detail.

Real Estate Appraisal

This is a report requested by the bank that is providing your mortgage financing as part of the application process. The purpose of the appraisal is to determine whether the house is sufficient collateral for the mortgage loan you are seeking.  Since home buyers typically cannot pay cash for the property, they need a mortgage loan, and the mortgage is simply a legal instrument that gives the bank an interest in the property in exchange for the financing. Before the bank loans the borrowers the funds for…

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Top 5 Reasons First Time Home Buyers Should Consider an FHA Mortgage Loan

Monday, April 10th, 2017 at 5:54pm. 328 Views, 0 Comments.

Written by Robert H. Ruth


There are many mortgage programs available for home buyers, but loans from the Federal Housing Administration (FHA) are often a great financing choice for first time buyers. In this article I’ll explain the 5 top reasons you should consider getting an FHA loan.

1) FHA Loans are available with only 3% down payments, and 100% of the down payment can come from a gift from a family member

Conventional loans often require the buyers to have at least 5% of their own saved money in the transaction, so a 3% down payment on FHA, combined with the ability to get all the funds for the transaction, including closing costs from a family member is very helpful.  This is a very important feature of an FHA loan because often…

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Dec31

2017 Real Estate Market Developments Déjà vu All Over Again?

 Written by Robert H. Ruth What is the State of the Market? The market is experiencing increasing sales volume fueled by a shortage of inventory. Cu...

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Dec31

Top 5 Reasons Millennials Should Buy Their Own Home

Written by Robert H. Ruth Here we are at the height of the Spring home buying season and the media is abuzz with news about the Real Estate market surging. ...

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Dec31

Fannie Mae Announces Student Loan Debt Solutions

Written by Robert H. Ruth This is a BIG Deal for Homebuyers in General, Millennial Buyers in Particular Last week I provided an overview of the scope of th...

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