PARKER QUIGLEY PROPERTIES, LLC

Welcomes Lake Lovers, Water Enthusiasts, Retirees and those who are just searching for peaceful serenity! This will most likely be the beginning of the realization of a DREAM COME TRUE for many of you.  Happy searching.....we look forward to helping you any way we can. We have the experience, integrity, dedication, professionalism & reputation you need in a Lakefront Realtor.

*Click Pictures for Preset Searches!*

 

Main Office Phone: 866-244-8439
Listing Specialist: 864-314-1058
Email: parkerquigleyproperties@gmail.com

Accolades

“Parker is very knowledgeable about the Lake Hartwell area and provided us with expert advice on the selection and purchase of our property” Top qualities: Personable , Expert , On Time Jeff Arvin Jeff Arvin
“Parker is absolutely the greatest! She knows how to network, innovative marketing ideas. She would be a valuable to any company.” Top qualities: Great Results , Expert , Creative David Chastain
“When it comes to savvy real estate marketing on Lake Hartwell or Lake Keowee in our great Upstate SC--Parker is a the TOP of her game. Lake knowledge--she has no peers.” Randy Looper , Owner , Carolina Media Group was a consultant or contractor to Parker at Re/Max Foothills Real Estate Randy Looper , Owner , Carolina Media Group
“Parker is a Professional from the word go in her Real Estate Profession. She follows thru, does what she says she will do for you, and most importantly is Honest, and very dependable. I would recommend her to anyone that is in the Market, or is contemplating selling their home.” Top qualities: Expert , High Integrity , Creative Vince Latone
“Parker helped us find a fantastic home on Lake Hartwell. She is very knowledgeable on the real estate market in that area. I would highly recommend Parker to anyone looking to buy or sell a lake home.” Top qualities: Great Results , Personable , Expert Kevin & Julie Batson
“Parker is an outstanding provider of Real Estate services to clients in our area. She goes beyond what is needed to get the job done each and every time. I can highly recommend that you use her service. Rod Pagan” Rod Pagan , Owner , Management Recruiters of Anderson was a consultant or contractor to Parker at Re/Max Foothills Real Estate Rod Pagan ,
“Parker was able to get a property closed which had never been on the tax map. It took a lot of dealings with many different individuals and was done very professionally. I can definitely recommend her.” Buddy Player , VP , miller player & assoc
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Lake Hartwell Blog

No Bubble Here! How New Mortgage Standards Are Helping

No Bubble Here! How New Mortgage Standards Are Helping | Simplifying The Market

Real estate is shifting to a more normal market; the days of national home appreciation topping 6% annually are over and inventories are increasing which is causing bidding wars to almost disappear. Some see these as signs that the market will soon come tumbling down as it did in 2008.

As it becomes easier for buyers to obtain mortgages, many are suggesting that this is definite proof that banks are repeating the same mistakes they made a decade ago. Today, we want to assure everyone that we are not heading to another housing “bubble & bust.”

Each month, the Mortgage Bankers’ Association (MBA) releases a measurement which indicates the availability of mortgage credit known as the Mortgage Credit Availability Index (MCAI). According to the MBA:

“The MCAI provides the only standardized quantitative index that is solely focused on mortgage credit. The MCAI is calculated using several factors related to borrower eligibility (credit score, loan type, loan-to-value ratio, etc.).” *

The higher the measurement, the easier it is to get a mortgage. During the buildup to the last housing bubble, the measurement sat at around 400. In 2005 and 2006, the measurement more than doubled to over 800 and was still at almost 600 in 2007. When the market crashed in 2008, the index fell to just over 100.

Over the last decade, as credit began to ease, the index increased to where it is today at 186.7 – still less than half of what it was prior to the buildup of last decade and less than one-quarter of where it was during the bubble.

Here is a graph depicting this information (remember, the higher the index, the easier it was to get a mortgage):

No Bubble Here! How New Mortgage Standards Are Helping | Simplifying The Market

Bottom Line

Though mortgage standards have loosened somewhat during the last few years, we are nowhere near the standards that helped create the housing crisis ten years ago.

*For more information on the MCAI, including methodology, FAQs, and other helpful resources, please click here.

Don’t Get Caught in the Rental Trap in 2019

Every year around this time, we take time to reflect and plan for next year. If you are renting your current home but have dreams of homeownership, your plan for the new year may include buying, and you wouldn’t be alone!

According to the 2018 Bank of America Homebuyer Insights Report, 74% of renters plan on buying in the next 5 years, with 38% planning to buy in the next 2 years!

When those same renters were asked why they disliked renting, 52% said that rising rental costs were their top reason, and 42% of renters believe that their rent will rise every year. The full results of the survey can be seen below:

Don't Get Caught in the Rental Trap in 2019 | Simplifying The Market

It’s no wonder that rising rental costs came in as the top answer! The median asking rent price has risen steadily over the last 30 years, as you can see below!

Don't Get Caught in the Rental Trap in 2019 | Simplifying The Market

There is a long-standing rule that a household should not spend more than 28% of its income on housing expenses. With nearly half of renters (48%) surveyed already spending more than that, and with their rents likely to rise again… why are they renting?

When asked why they haven’t purchased a home yet, not having enough saved for a down payment (44%) came in as the top response. The report went on to reveal that nearly half of all respondents believe that “a 20% down payment is required to buy a home.”

If the majority of those who believe they haven’t saved a large enough down payment believe that they need 20% down to buy, that means a large number of renters may be able to buy now!

Bottom Line

If you are one of the many renters who is fed up with rising rents but may be confused about what is required to buy in today’s market, let’s get together to help you on your path to homeownership.

How to Simply Increase Your Family Wealth by Paying for Housing

How to Simply Increase Your Family Wealth by Paying for Housing | Simplifying the Market

Everyone should realize that unless you are living somewhere rent-free, you are paying a mortgage – either yours or your landlord’s. Buying your own home provides you with a form of ‘forced savings’ that allows you to use your monthly housing costs to increase your family’s wealth.

Every month that you pay your mortgage, you are paying off a portion of the debt that you took on to purchase your home. Therefore, you own a little bit more of your home every month in the form of home equity. As your home’s value increases you also gain home equity.

Every quarter, Pulsenomics surveys a nationwide panel of over 100 economists, real estate experts, and investment and market strategists and asks them to project how residential home prices will appreciate over the next five years for their Home Price Expectation Survey (HPES).

The latest data from their Q4 2018 Survey revealed that home prices are expected to round out the year 5.8% higher than they were in January. For the next 5 years, home values will appreciate by an average of nearly 3% a year.

This is still great news for homeowners!

For example, let’s assume a young couple purchases and closes on a $250,000 home in January. Simply through their home appreciating in value, those homeowners can build their home equity by nearly $40,000 over the next five years.

How to Simply Increase Your Family Wealth by Paying for Housing | Simplifying the Market

Let’s look at the potential equity gained over the same period of time at some higher price points:

How to Simply Increase Your Family Wealth by Paying for Housing | Simplifying the Market

In many cases, home equity is a large portion of a family’s overall net worth.

Bottom Line

If your plan for 2019 includes entering the housing market to purchase a home, whether it’s your first or your fifth, let’s get together to make your plan a reality!

PARKER QUIGLEY PROPERTIES, LLC

Welcomes Lake Lovers, Water Enthusiasts, Retirees and those who are just searching for peaceful serenity! This will most likely be the beginning of the realization of a DREAM COME TRUE for many of you.  Happy searching.....we look forward to helping you any way we can. We have the experience, integrity, dedication, professionalism & reputation you need in a Lakefront Realtor.

*Click Pictures for Preset Searches!*

 

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