Tariq Khan Realtor

11/29/2023

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05/07/2023

12/22/2021

The Perks of Putting 20% Down on a Home

Here are four reasons why putting 20% down may be a great option if it works within your budget.

>>Your Interest Rate May Be Lower
A 20% down payment vs. a 3-5% down payment shows your lender you’re more financially stable and not a large credit risk. The more confident your lender is in your credit score and your ability to pay your loan, the lower the mortgage interest rate they’ll likely be willing to give you.

>>You’ll End Up Paying Less for Your Home
The larger your down payment, the smaller your loan amount will be for your mortgage. Because you’ll avoid as much accrued interest, this will end up costing you less over the lifetime of your home loan.

>>Your Offer Will Stand Out in a Competitive Market
In a market where many buyers are competing for the same home, sellers often like to see offers come in with 20% or larger down payments. You’re seen as a...

If you’re thinking of buying a home, you’re probably wondering what you need to save for your down payment. Is it 20% of the purchase price, or could you put down less? While there are lower down payment programs available that allow qualified buyers to put down as little as 3.5%, it’s importa...

12/21/2021

The Average Homeowner Gained $56,700 in Equity over the Past Year

When you think of homeownership, what’s the first thing that comes to mind? Chances are you might focus on the non-financial benefits, like the security or stability a home provides. But what about equity? While it can be overlooked, a homeowner’s equity helps build long-term wealth over time. Here’s a look at what equity is and why it matters.

For a homeowner, your equity is the current value of your home minus what you owe on the loan. So, as home values climb, your equity does too. That’s exactly what’s happening today. There aren’t enough homes on the market to meet buyer demand, so bidding wars and multiple offers are driving prices up. That’s because people are willing to pay more to buy a home. Right now, this low supply and high demand is giving current homeowners a significant equity boost.

To find out just how...

When you think of homeownership, what’s the first thing that comes to mind? Chances are you might focus on the non-financial benefits, like the security or stability a home provides. But what about equity? While it can be overlooked, a homeowner’s equity helps build long-term wealth over time. H...

12/20/2021

Homebuyers: Be Ready To Act This Winter

To succeed as a buyer in today’s market, it’s important to understand which market trends will have the greatest impact on your home search. Danielle Hale, Chief Economist at realtor.com, says there are two factors every buyer should keep their eyes on:

“Going forward, the conditions buyers face are primarily dependent on two things: mortgage rates and housing supply.”

As a buyer, your interest rate directly impacts how much you’ll pay on your monthly mortgage when you purchase a home. Mortgage rates are expected to climb next year. But they’re still low when you compare to where they were just a few years ago. That presents today’s buyers with some motivation to lock in a low mortgage rate before they climb higher.

The other market condition buyers need to monitor is the number of homes available for sale today. The latest Existing Home Sales Report from the...

To succeed as a buyer in today’s market, it’s important to understand which market trends will have the greatest impact on your home search. Danielle Hale, Chief Economist at realtor.com, says there are two factors every buyer should keep their eyes on:

12/17/2021

2022 Housing Market Forecast [INFOGRAPHIC]

What does the coming year hold for the housing market? Here’s what experts project for 2022. Mortgage rates are projected to rise and so are home prices. Experts are forecasting buyer demand will remain strong as people try to capitalize on rates and prices before they climb, creating another strong year for home sales. Let’s connect so you can make your best move in the new year.

Some Highlights What does the coming year hold for the housing market? Here’s what experts project for 2022. Mortgage rates are projected to rise and so are home prices. Experts are forecasting buyer demand will remain strong as people try to capitalize on rates and prices before they climb, creat...

12/16/2021

Homebuyers Are Going on a Shopping Spree This Winter

Black Friday and Cyber Monday are over, which means some shoppers have wrapped up their holiday buying. But there’s still a group of buyers that are very active this holiday season – homebuyers.

Experts anticipate the real estate market will see a flurry of activity this winter, and that’s great news for today’s sellers. If you’re planning on listing your home, there’s no need to wait until the spring for better conditions – today’s real estate market is already heating up.

Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), points out how this winter may see a significant number of sales:

“Compared to other past winter seasons, this winter season’s sales activity will be stronger. . . . This winter, there will be more sales compared to pre-pandemic winters going back all the way to 2006.”

That means there...

Black Friday and Cyber Monday are over, which means some shoppers have wrapped up their holiday buying. But there’s still a group of buyers that are very active this holiday season – homebuyers.

12/15/2021

What Everyone Wants To Know: Will Home Prices Decline in 2022?

If you’re thinking of buying a home in today’s housing market, you may be wondering how strong your investment will be. The good news is, according to the experts, home prices are not projected to decline. Here’s why.

With buyers still outweighing sellers, home prices are forecast to continue climbing in 2022, just at a slower or more moderate pace. It’s the simple law of supply and demand. When there are fewer items on the market than there are buyers, the competition for that item makes prices naturally rise.

And while the number of homes for sale today is expected to improve with more sellers getting ready to list their houses this winter, we’re certainly not out of the inventory woods yet. Thus, the projections show continued appreciation, but at a more moderate rate than what we’ve seen over the past year.

Brad Hunter of Hunter...

If you’re thinking of buying a home in today’s housing market, you may be wondering how strong your investment will be. You might be asking yourself: if I buy a home now, will it lose value? Or will it continue to appreciate going forward? The good news is, according to the experts, home prices ...

12/14/2021

Advice for First-Generation Homebuyers

The sense of pride you’ll feel when you purchase a home can’t be overstated. For first-generation homebuyers, that feeling of accomplishment is even greater.
As you begin your journey, here are three helpful tips to make that dream come true.

1. Reach Out to a Real Estate Professional

Your agent is a great source of information throughout the process. They’ll help you understand what’s happening, assess a home’s condition, and negotiate a contract that has the best possible terms for you. These are just some of the reasons having an expert in your corner is critical as you navigate one of the most significant purchases of your life.

2. Do Your Research and Know What You Can Afford

That means getting your finances in order, reviewing your budget, and getting pre-approved through a lender. It also means learning the ins and outs of what it takes to...

The sense of pride you’ll feel when you purchase a home can’t be overstated. For first-generation homebuyers, that feeling of accomplishment is even greater. That’s because the pride of homeownership for first-generation buyers extends far beyond the homebuyer. AJ Barkley, Head of Neighborhood...

12/13/2021

If You Think the Housing Market Will Slow This Winter, Think Again.

As we wrap up the fall season and move into the winter months, here’s a look at what several industry leaders have to say about the continued momentum in the current market, and what it means as we head into the early part of next year.

Lawrence Yun, Chief Economist, National Association of Realtors (NAR)
“This solid buying is a testament to demand still being relatively high, as it is occurring during a time when inventory is still markedly low. The notable gain in October assures that total existing-home sales in 2021 will exceed 6 million, which will shape up to be the best performance in 15 years.”

Odeta Kushi, Deputy Chief Economist, First American
“So far in November, purchase applications point to another strong month in sales. Still low rates and demographic demand support this strength, even as affordability and inventory headwinds...

From the opportunity to take advantage of today’s low mortgage rates to changing homeowner needs, Americans have more motivation than ever to buy a home. According to the experts, buyers are making moves right now, creating an unseasonably strong housing market for this time of year.