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The Mike Lentz Team - Keller Williams Realty

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The Top 3 Reasons Affordability Is Improving

October 4, 2024 by Mike

The Top 3 Reasons Affordability Is Improving

Affordability is based on three key factors: mortgage rates, home prices, and wages. And today, it’s improving quickly as rates come down, prices level off, and wages climb. If you put your search on pause because it was too expensive to buy, let’s talk about why now may be the perfect time to jump back […]

Filed Under: Affordability, Home Prices, Infographics, Mortgage Rates

Buying Beats Renting in 22 Major U.S. Cities

September 30, 2024 by Mike

Buying Beats Renting in 22 Major U.S. Cities

That’s right—according to a recent study from Zillow, in 22 of the 50 largest metro areas, monthly mortgage payments are now lower than rent payments (see chart below): As mortgage rates have eased off their recent peak, home prices have moderated, and inventory has ticked up, affordability has improved significantly. When you add all of that up, it’s getting less expensive to buy a […]

Filed Under: Affordability, For Buyers, Home Prices, Inventory, Mortgage Rates

The Latest Builder Trend: Smaller, Less Expensive Homes

September 18, 2024 by Mike

The Latest Builder Trend: Smaller, Less Expensive Homes

Even though affordability is improving, buying a home can still feel tough right now. But here’s some good news: builders are focusing their efforts on building smaller homes, and they’re offering key incentives to buyers. And both of these things can be a big help if you’re worried about finding a home that’s right for your budget.  […]

Filed Under: Affordability, For Buyers, New Construction

Why Pre-Approval Should Be at the Top of Your Homebuying To-Do List

September 10, 2024 by Mike

Why Pre-Approval Should Be at the Top of Your Homebuying To-Do List

Since the supply of homes for sale is growing and mortgage rates are coming down, you may be thinking it’s finally your moment to jump into the market. To make sure you’re ready, you need to get pre-approved for a mortgage. That’s when a lender looks at your finances, including things like your W-2, tax returns, credit score, and bank statements, to […]

Filed Under: Affordability, Buying Tips, For Buyers, Mortgage Rates

What Mortgage Rate Are You Waiting For?

August 26, 2024 by Mike

What Mortgage Rate Are You Waiting For?

You won’t find anyone who’s going to argue that mortgage rates have had a big impact on housing affordability over the past couple of years. But there is hope on the horizon. Rates have actually started to come down. And, recently they hit the lowest point we’ve seen in 2024, according to Freddie Mac (see graph below): And if you’re thinking about buying a home, that […]

Filed Under: Affordability, Mortgage Rates

The Great Wealth Transfer: A New Era of Opportunity

August 14, 2024 by Mike

The Great Wealth Transfer: A New Era of Opportunity

In recent years, there’s been a significant shift in how wealth is distributed among generations. It’s called the Great Wealth Transfer. Historically, the transfer of wealth from one generation to the next was a more gradual process, often limited to smaller amounts of inheritance or family savings. But today, the scale has increased in a big way. As a […]

Filed Under: Affordability, economy

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The Mike Lentz Team
Keller Williams Realty
381 Egg Harbor Rd
Sewell NJ 08080

Broker: 856-582-1200
Team: 856-202-3154

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