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Have you been thinking about buying a home?  Here are five good reasons published on the KCM Blog from Eric Belsky, Managing Director of the Joint Center of Housing Studies at Harvard University.  He published a paper on homeownership - The Dream Lives On: the Future of Homeownership in America in which he detailed the points below:

1.) Housing is typically the one leveraged investment available.

"Few households are interested in borrowing money to buy stocks and bonds and few lenders are willing to lend them the money. As a result, homeownership allows households to amplify any appreciation on the value of their homes by a leverage factor. Even a hefty 20 percent down payment results in a leverage factor of five so that every percentage point rise in the value of the home is a 5 percent return on their equity. With many buyers putting 10 percent or less down, their leverage factor is 10 or more."

2.) You're paying for housing whether you own or rent. 

"Homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord."

3.) Owning is usually a form of "forced savings".

"Since many people have trouble saving and have to make a housing payment one way or the other, owning a home can overcome people's tendency to defer savings to another day."

4.) There are substantial tax benefits to owning.

"Homeowners are able to deduct mortgage interest and property taxes from income...On top of all this, capital gains up to $250,000 are excluded from income for single filers and up to $500,000 for married couples if they sell their homes for a gain."

5.) Owning is a hedge against inflation.

"Housing costs and rents have tended over most time periods to go up at or higher than the rate of inflation, making owning an attractive proposition."

If you are considering purchasing a home, contact a Lawyers Realty Agent today to learn about the home buying process and representation that protects your interests.  717-364-3000

The internet continues to grow as the primary resource for home buyers.  According to The Digital House Hunt: Consumer and Market Trends in Real Estate the internet is a primary research tool for 90% of home buyers.  The study also found that real estate Google searches have increased 253% over the past four years.  Internet home searchers are also going mobile in large numbers.  

What does this mean if I'm selling my home?  Exposure on the internet is key, including appearance in pictures and virtual tours (attracting buyers to look at your home in person).  Lawyers Realty is exceptionally positioned for the internet age buyer - our website features our listings as well as those across Central Pennsylvania.  Our mobile site will also allow buyers to find the information they need where they need it.

Contact a Lawyers Realty Agent today to talk about the importance of the internet in buying or selling your home (717) 364-3000.    

What is one of the primary factors that go into a lender's decision of whether or not to grant a loan? Credit scores.  It has been estimated that nearly 75% of all mortgage loan decisions are made with the applicant's credit score in mind.