Whitney Minnich Real Estate and Community Updates

Delayed Ownership Could Exacerbate Wealth Disparities July 12, 2018 Millennials aren’t purchasing homes on the same timelines as previous generations, and that has some economists worried. The homeownership rate for millennials was 37 percent in 2015, which is about eight percentage points lower than Generation X and baby boomers when they were at the same age between 25 to 34, according to a new report released by the Urban Institute. Economists point to several factors for millennials’ delay into homeownership, including their delays to get married (being married increases probability of owning a home by 18 percentage points), rising student debt, delayed child bearing, and increasing rents that are making it more difficult to save for a down payment. But the Urban Institute’s report notes that such delays into ownership are sparking concern. Less educated young adults are falling further behind in homeownership, the report notes. The gap in homeownership rates...

Millennials Take Extreme Measures to Afford a Home July 2, 2018 Young adults express such a strong desire to own a home that they are willing to take on extra work or make another major sacrifice in order to afford one. Thirty-six percent of millennial home buyers say they’ve taken a second job to save for a down payment, according to a new Redfin survey of about 500 respondents between the ages of 24 and 38 who plan to buy their first home in the coming year. The top concern among these first-time home buyers is having enough money for a down payment; 50 percent cited it as their number one barrier to homeownership, followed by affording a home in their preferred location (45 percent) and rising home prices (41 percent). Millennials are finding other ways to save for a down payment aside from working multiple jobs. Thirteen percent say they have taken early distributions from their retirement funds, 24 percent say they received a cash gift from family members, and...

Just another reason not to wait to purchase a home: "...if the economy continues to improve as I expect, I think it will be appropriate at some point this year to take the initial step to raise the federal funds rate target and begin the process of normalizing monetary policy." - Federal Reserve Chair Janet Yellen YELLEN: Rate hikes are coming this year Myles UDland - MAY 22, 2015, 1:01 PM Federal Reserve chair Janet Yellen said it will be appropriate for the Fed to raise rates at some point this year.  Yellen's comments were delivered on Friday before the Greater Providence Chamber of Commerce.   Here's the key peel from Yellen's speech: Given this economic outlook and the attendant uncertainty, how is monetary policy likely to evolve over the next few years? Because of the substantial lags in the effects of monetary policy on the economy, we must make policy in a forward-looking manner. Delaying action to tighten monetary policy until employm...

A great way to end the week and start a new month - giving these keys to my clients at their settlement today! If you've been thinking about purchasing a home contact me at 571-970-7195 or whitney@whitneyminnich.com to start the conversation. 

As someone who loves coffee and real estate this is a great story and great news! "Homes within a quarter-mile of a Starbucks increased in value by 96 percent, on average, compared with 65 percent for all U.S. homes." It gets even better, DC is ranked at the top - third to be exact - as one of the metro cities where Starbucks has had the biggest effect on home values. If you've been thinking about buying or selling, give me a call 571-970-7195, or email me, whitney@whitneyminnich.com, to start the conversation - we can even meet over Starbucks coffee. Markets Where Starbucks Boosts Home Values the Most  Starbucks caffeinates home values, too, and some cities see a bigger jolt than others. Here’s a hot home-buying tip that’s been percolating since “ Zillow Talk: The New Rules of Real Estate ” was released: Buying near a Starbucks has benefits beyond easy access to your double-tall, non-fat, bone-dry cappuccino. Between 1997 and 2014, homes within a quarter-mile o...

Just ratified another contract for buyers I've been working with - what a great way to end the day! If you've been thinking about purchasing a home contact me at 571-970-7195 or whitney@whitneyminnich.com to start the conversation.

Closed on another listing today - always a great feeling! If you've been thinking about selling your house contact me at 571-970-7195 or whitney@whitneyminnich.com to start the process today and learn about the professional services I provide.  ‪

What makes this rainy day bright? Putting up a SOLD sign after only 6 days on the market! If you've been thinking about selling contact me at 571-970-7195 or whitney@whitneyminnich.com  to start the process today.

Just another reason to purchase a home now. Contact me, 571-970-7195 or whitney@whitneyminnich.com, to start the buying process today. Fed: Interest Rate Hikes Likely in June DAILY REAL ESTATE NEWS | THURSDAY, APRIL 09, 2015 The Federal Reserve is signaling that it will likely take action on increasing interest rates in two months, despite recent data that shows a weakened economy. This would be the first rate increase since 2006. "I could imagine circumstances where a June rate hike could still be in play," says William Dudley, New York Fed president, and a voting member on the Fed's policy committee. "If the economy's strong, the unemployment rate is dropping, wages are rising, and the outlook is good, you could conceivably get to that point. The bar is probably a little bit higher" for a June hike given recent data. Two central bank officials said Wednesday that disappointing job growth, manufacturing activity, and retail sales over the winter...

The Federal Reserve is signaling that it will likely take action on increasing interest rates in two months - this would be the first rate increase since 2006. If you've been thinking about selling your home, you might want to consider putting it on the market now so buyers can lock in the lower rates. Contact me now at 571-970-7195 or whitney@whitneyminnich.com to start the selling process today. Fed: Interest Rate Hikes Likely in June DAILY REAL ESTATE NEWS | THURSDAY, APRIL 09, 2015 The Federal Reserve is signaling that it will likely take action on increasing interest rates in two months, despite recent data that shows a weakened economy. This would be the first rate increase since 2006. "I could imagine circumstances where a June rate hike could still be in play," says William Dudley, New York Fed president, and a voting member on the Fed's policy committee. "If the economy's strong, the unemployment rate is dropping, wages are rising, and th...

Prices are going up, interest rates are still low - it's a great time to purchase a home. If you've been thinking about buying a home, it's the perfect time to start the conversation! Contact me today at 571-970-7191 or whitney@whitneyminnich.com. House Prices Record Annual Gains, Expected to Rise in the Future BY  MICHAEL NEAL   on   APRIL 2, 2015 The recent  release  by the Federal Housing Finance Agency (FHFA) shows that its measure of house prices, House Price Index – Purchase Only, rose by 5.1% on a 12-month seasonally adjusted basis in January 2015. This marks the 36 th  consecutive month of year-over-year growth. Over this nearly three-year period, house prices have risen by 20.1%. Similarly, the recent  release  from Standard and Poor’s (S&P) and Case-Shiller indicates that their measure of national house prices, the House Price Index – National, rose by 4.5% on a year-over-year seasonally adjusted basis. This is the 33 rd ...

If you've been thinking about buying a home, it's the perfect time to start the conversation! Contact me today at 571-970-7191 or whitney@whitneyminnich.com. Setting the Record Straight: Top Home Buying Myths by Courtney Soinski Whether you’re a real estate professional or first-time home buyer, the home buying process and real estate transactions can be stressful.  There tends to be some common misconceptions in this process, so it’s very important that you’re well informed of what is fact and what is fiction.  We’re here to set the record straight. Myth #1:  You don’t need a REALTOR®. Before you bravely take on one of the biggest purchases or sales of your life, remember this: it’s not as easy as it looks.  REALTORS® know all the ins and outs of the local area as well as the market in which you’re looking to buy or sell.  Picking up the phone and calling a REALTOR® may be one of the best decisions you’ll make. Myth #2:  The bigger the downpa...

It's a great time to buy a home! If you've been thinking about buying a home, it's the perfect time to start the conversation! Contact me today at 571-970-7191 or whitney@whitneyminnich.com. Why Waiting To Buy Might Not Make Sense   The KCM Crew ,  March 31, 2015 Whether you are a first time or a move-up buyer, there are two factors that will impact the amount of house you can afford in your price range: home prices & mortgage rates. Let’s look at what the experts are predicting over the next twelve months for these two areas: PRICES Over 100 economists, real estate experts and investment & market strategists were recently  polled  as a part of the  Home Price Expectation Survey . They were asked to project where home prices are headed. The average value appreciation projected over the next twelve-month period is approximately 4.4%. MORTGAGE INTEREST RATES In the latest  Economic & Housing Market Outlook  from...

Just another sign that it's a great time to purchase a home. If you've been thinking about buying a home, it's the perfect time to start the conversation! Contact me today at 571-970-7191 or whitney@whitneyminnich.com. Mortgage Rates Drop Even Lower This Week DAILY REAL ESTATE NEWS  | FRIDAY, MARCH 27, 2015 For the second consecutive week, mortgage rates continued to fall, with the 30-year fixed-rate mortgage still well below 4 percent and 15-year rates dipping below 3 percent, Freddie Mac reports in its weekly mortgage market survey. "Low mortgage rates are a welcome sign for those in the market to buy a home this spring season and will help to support homebuyer affordability," says Len Kiefer, deputy chief economist at Freddie Mac. Freddie Mac reports the following national averages with mortgage rates for the week ending March 26: 30-year fixed-rate mortgages: averaged 3.69 percent, with an average 0.6 point, dropping from last week's 3.78 percent ...

With low rates and inventory going up, it's a great time to buy. Contact me today, 571-970-7195 or whitney@whitneyminnich.com, to learn how you can start the home buying process. Low Mortgage Rates Drive Loan Demand Surge DAILY REAL ESTATE NEWS | WEDNESDAY, MARCH 25, 2015 Mortgage application volume soared 9.5 percent last week as mortgage rates took a dip to the lowest levels since February, according to the Mortgage Bankers Association. Mortgage applications for refinancings for the week ending March 20 rose 12 percent week over week, and are up 35 percent over levels from a year ago. Applications for home purchases, viewed as a leading gauge of future home sales, increased 5 percent, moving 3 percent higher than year-ago levels, the MBA reports. "Low mortgage rates and more importantly continued improvements in the job market are the likely drivers behind this increase, " says Michael Fratantoni, chief economist for the MBA. The MBA reports that the 30-...

Just Listed! Just completed total renovation 4 bedroom, 2.5 bath home situated on a 1/2 acre lot in the beautiful Tauxemont community. Everything is brand new.  New roof including rafters and joists. All new electrical, plumbing, and siding. Fantastic redesigned kitchen that includes stainless steel appliances, granite counter tops, and a large island. It opens to the light filled living room with cathedral ceilings and wood burning fireplace. Large private master suite with walk-in closet and french doors that access the back deck. Master bath with double sinks and dual headed 4x6 walk-in shower. New separate laundry room. Added half bath. Gleaming hardwood floors throughout.