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Realty411 Team

Young California Homebuyers Are the 3rd Most Likely to Need a Co-signer

May 19, 2022 by Realty411 Team

Image from Pixabay

By Lauren Thomas

After two years of high competition and fast-rising prices in residential real estate, the market is at last seeing signs of cooling off. Amid higher prices and recent interest rate hikes, demand is leveling out. Pending home sales have begun to decline, online searches, showings, and mortgage applications are down, and many experts anticipate a rebalancing in the market over the next year.

While many buyers may be starting to feel relief, younger buyers have had an especially difficult time in this market and may continue to struggle. The Millennial generation—Americans aged 26 to 41—are currently in their peak homebuying years, representing 43% of buyers according to recent data from the National Association of Realtors. Because they are earlier in their working lives, young shoppers may have less saved up to put toward a home, and they also tend to be first-time buyers, which means they do not have existing home equity available to help finance a purchase. While the market was at peak competitiveness, this made it harder to outbid buyers who had more resources at their disposal. Now, with home prices at historic highs and interest rates increasing, many young buyers are being priced out of the market altogether.

To overcome these challenges, some young buyers have relied on older friends and family members with more financial resources to support a home purchase. This can happen informally, like with gifts to put toward a down payment or closing costs, but support can also come in the form of a co-signer on a mortgage loan. Co-signers are people who agree to be responsible for loan payments if the primary signer defaults. Because co-signers’ financial resources and credit history are also evaluated as part of a loan application, this helps buyers with low incomes, more debt, or a patchy employment history increase their likelihood of qualifying for a loan and receiving lower interest rates or higher approval amounts.

Young buyers appear to be relying on older co-signers simply to enter the housing market, rather than using co-signers’ financial assistance to purchase more expensive homes. This is evidenced by similar property values and down payment amounts across young buyers with and without older co-signers, according to data from the Home Mortgage Disclosure Act. The median property value and down payment for young buyers with an older co-signer is $295,000 and $40,000, respectively, compared to $285,000 and $30,000 for all young buyers. But both groups of buyers lag behind typical figures overall: for all buyers, the median property value is $325,000, and the median down payment is $50,000.

Co-signers are especially helpful to young buyers in markets that tend to be more expensive for housing. There is a positive correlation between median home price in a state and the percentage of young buyers with an older co-signer. The three states with the highest percentage of young buyers who have a co-signer—Hawaii, Colorado, and California—respectively rank first, fifth, and second in the U.S. for overall home prices.

Due to the relationship between home prices and the presence of a co-signer, states in the West and Northeast that tend to be more expensive also tend to have younger buyers relying on co-signers more often. In contrast, more affordable states in the Southeast and Central U.S. have fewer young homebuyers with a co-signer.

To determine the states with the highest percentage of young homebuyers with an older co-signer, researchers at Porch analyzed the latest data from the Federal Financial Institutions Examination Council’s Home Mortgage Disclosure Act. The researchers ranked states by the percentage of young homebuyers (34 years old or younger) with an older co-signer (55 years old or older). In the event of a tie, the state with the higher median property value for young homebuyers with an older co-signer was ranked higher.

The analysis found that in California, 1.358% of young homebuyers have an older co-signer on their mortgage loan, compared to 0.915% at the national level. Out of all states, California has the 3rd most young buyers utilizing an older co-signer. Here is a summary of the data for California:

  • Percentage of young buyers w/ an older co-signer: 1.358%
  • Median property value for young buyers w/ an older co-signer: $535,000
  • Median property value across all young buyers: $545,000
  • Median down payment for young buyers w/ an older co-signer: $100,000
  • Median down payment across all young buyers: $100,000

For reference, here are the statistics for the entire United States:

  • Percentage of young buyers w/ an older co-signer: 0.915%
  • Median property value for young buyers w/ an older co-signer: $295,000
  • Median property value across all young buyers: $285,000
  • Median down payment for young buyers w/ an older co-signer: $40,000
  • Median down payment across all young buyers: $30,000

For more information, a detailed methodology, and complete results, you can find the original report on Porch’s website: https://porch.com/advice/young-buyers-relying-older-co-signers-buy-homes

https://porch.com/advice/young-buyers-relying-older-co-signers-buy-homes

Filed Under: news Tagged With: Lauren Thomas, real estate investing, real estate investing tips, real estate investor, real estate magazines, real estate wealth, realty 411, realty magazine, realty411, rei magazine, rei wealth, REIwealth

New Offers from Your Favorite Brands – And More!

May 19, 2022 by Realty411 Team

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Filed Under: deals Tagged With: deals, membership deals, real estate investing, real estate investor, real estate magazines, real estate wealth, realty 411, realty magazine, realty411, rei magazine, rei wealth, REIwealth, travel deals, VIP deals, VIP perks

Join Us for a LIVE & INTERACTIVE Virtual Investing Summit on Saturday, May 21st

May 18, 2022 by Realty411 Team


Dear Savvy Investor;

Did you register for Realty411’s complimentary investing summit this Saturday? This is the place to be to learn from TOP experts sharing important insight to help readers grow their investment portfolios.

Our NEW VIRTUAL Investing Summit on MAY 21st, begins at 9 AM PT. Event guests can engage with all of our speakers and ask questions in real time. You simply can’t afford to miss this online event.

Our mission is to educate and empower individuals to invest in real estate. Our virtual events have united thousands of both new and sophisticated investors from 47 states so far — in total representing 375 cities across the United States.

Join us for an amazing day of real estate education. Every online event we produce is unique, and video replays may not be made available later. So be sure to reserve this day for REI learning at its best.

WHAT CAN YOU EXPECT?

  • Learn from Leaders & Industry Pros
  • Chat with Investors Across the Country
  • NON-Stop Tips for Real Estate Success
  • Learn with Long-Term leaders in the REI Industry
  • REI Knowledge from Real and Active Investors
  • Discover the Power of Leverage with OPM
  • Save money with Realty411VIP.com, Learn More
  • Gain Access to Realty411’s Private VIP Network
  • Sharing Life-Changing Information for 15 Years!

Be sure to register now for our NEW VIRTUAL Investor Summit on Saturday, May 21st, 2022 – 9 AM to 4 PM PT.

Invest ONE DAY to learn online with top experts who are ready to share their insight and success tips. This event is Live and Interactive.


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Need help with your investing? Get mentored with Realty411. Along with mentoring, a VIP membership also includes access to Realty411 VIP discounts, plus access to our online VIP network, as well as other perks.

To learn more, CLICK HERE. After registering for an annual membership, we will contact you with details about the next session.


Filed Under: events, news Tagged With: interactive virtual investing summit, real estate investing, real estate investing summit, real estate investing tips, real estate investor, real estate magazines, real estate wealth, realty 411, realty magazine, realty411, rei magazine, rei wealth, REIwealth, virtual investing summit

Focus and You Will Succeed

May 16, 2022 by Realty411 Team

Image from Pixabay

By Tamera Aragon

“Success is a tireless expenditure of narrowly focused energy”
– Author Unknown

The definition of Focus: A condition in which something can be clearly apprehended or perceived.

Do you agree that it can be very difficult to get focused on what it is you would like to accomplish in this life? Do you get pulled this way and that depending on which way the wind is blowing that day? This may be because you are not “narrowly focused”.


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In working with so many students for real estate training and coaching, I have found the lack of ability to focus and stay on task to be the number 1 reason for not just failure, but also for some not even getting to the point of doing the real estate investing business. They don’t even get to the point of trying to invest in real estate because they stop. People often lose focus.

For example, a student, (lets call him Johnny), commits to coaching with complete confidence. His personal goal is to make $10K in the next 60 days in real estate investing. Johnny starts listening to the trainings and going through the motions, focusing on his goal for maybe a week or 2. Then Johnny hears about a great training on how to buy Silver for cheap (or some other investing strategy that is also good). So Johnny buys that training and starts listening to that training too. Buying that training has now taken the focus of the real estate training, committing him to failure in both goals!

Image from Pixabay

Focus is crucial to success.

“Always remember, your focus determines your reality.”
Qui-Gon to Anakin, Star Wars Episode I

It’s so easy to blame external circumstances for failure, when in reality the reason for our failure is this missing link; Narrowly focus energy on a single goal. People get too spread out trying to accomplish too much for too many. The only blame for lack of success is that someone went on to something else by their own choosing and decision. Focus is a choice.

Not only is focus important, but focusing on only one goal at a time key to your success. Trying to accomplish multiple goals spreads out your focus, and makes it less likely that you’ll complete any of them.


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How To Stay Focused

Even with only one goal, maintaining focus can be difficult. Therefore, you need to find ways to keep your focus on that goal.

Some good examples that work for me:

1. Read about your goal as much as possible, on websites and blogs and in books and magazines.
2. Post up picture of what you want on your wall, refrigerator, and computer desktop.
3. Send yourself messages using an online calendar or reminder service.
4. Tell as many people as possible about your goal and post your progress on your blog.
5. Have a time each day to work on a single goal, with a reminder in your schedule each day to do only that for a period of time, no exceptions.

Maintain your focus on your goal, and you’ve won half the battle in achieving it.


TAMERA ARAGON

Tamera Aragon is a professional online entrepreneur and has bought and sold over 300 properties, establishing her as an expert in the real estate investing field. Since 2003, she has purchased over 10 million dollars in real estate and currently holds properties all over the world. Tamera’s focus is on the booming Foreclosure market, buying Pre-foreclosures, REOs and Short Sales. Tamera who is a noted Author, Success Trainer, Speaker & Coach, shows her passion for helping others with the 17 websites she has created and several specialized products to support fellow investors throughout the world. When Tamara is not busy running her website, she is very involved with her Fiji joint ventures and investments. Tamera Aragon is one of the few trainers and coaches who is really “doing it” successfully in today’s market. Tamera’s experience has earned her a solid reputation in the industry as well as the respect and friendship of many of the top national real estate investment and internet marketing experts. Tamera Aragon believes her success has garnered her the financial freedom to fully enjoy her marriage and spend quality time with her children.


Learn live and in real-time with Realty411. Be sure to register for our next virtual and in-person events. For all the details, please visit Realty411Expo.com or our Eventbrite landing page, CLICK HERE.

Filed Under: motivation, news Tagged With: focus, real estate investing, real estate investing tips, real estate investor, real estate magazines, real estate wealth, realty 411, realty magazine, realty411, rei magazine, rei wealth, REIwealth, Tamera Aragon

Life’s busy. Save money and time.

May 12, 2022 by Realty411 Team

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Filed Under: deals, news Tagged With: deals, membership deals, real estate investing, real estate investor, real estate magazines, real estate wealth, realty 411, realty magazine, realty411, rei magazine, rei wealth, REIwealth, travel deals, VIP deals, VIP perks

Tresa Todd’s Women’s Guide to Real Estate Investing Without Fear of Her Future Debuts #1 on Amazon

May 10, 2022 by Realty411 Team

Special submission to Realty411.com

Tresa Todd, host of the #1 largest women’s real estate investors conference in the Nation, “WREIN Live,” and founder of the Women’s Real Estate Investors Network, proudly announced the debut of her Women’s guide to real estate investing at WREIN Live over the weekend, driving her book Without Fear of Her Future, to the #1 spot in the Real Estate Investments category on Amazon.

Without Fear of Her Future is an informative how-to, focused on Tresa’s own experiences becoming a successful investor and advocate for women in the real estate investing industry.


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Tresa provides step-by-step knowledge featuring real estate investing strategies, how to find and fund your deals without using your own money, success in designing short term rentals, and so much more:

Tresa said “This book is jam packed with my experience getting into this industry later in life, my wins, my struggles and everything I’ve learned along the way to help you on your journey into the world of real estate investing.”


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With the release and impact of Without Fear of Her Future, she hopes to meet professional women exactly where they are, providing them with easy to understand real estate education so they can become financially confident and create multi-generational wealth for their families.

For additional information see links below:

Book: http://www.withoutfearofherfuture.com/book

Website: https://womensrein.com

Filed Under: news Tagged With: Guide to Real Estate Investing, real estate investing, real estate investing book, real estate investing tips, real estate investor, real estate magazines, real estate wealth, realty 411, realty magazine, realty411, rei magazine, rei wealth, REIwealth, Tresa Todd, Without Fear of Her Future

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