yellow pages news jobs events calendar movie times
Rocklin and Roseville Today Events Calendar
   |   Current Temp: 63.0 F (17.2 C)

Renters Eager to be Homeowners





According to a recent survey by Zillow, 10 percent of those currently renting a place to live want to buy a home in the next year. 

Of the total US, this represents about 4.2 million renters eager to buy a home.  This is double the number reported for 2013.  For the housing industry this is very positive news and demonstrates, after the long housing downturn, the American dream of owning your home is alive.

Comparing the Zillow survey results with the National Association of Realtors numbers on first time buyers shows some differences.  The NAR is reporting the share of first time buyers is the lowest on record since tracking started in 2008 with only 26 percent of sales in January.  Typically you would expect to see first time buyers make up about 40 percent of sales and if so many renters are ready to buy we would expect to see a growing percentage of first time buyers. 

So what is driving the survey results of high renter interest if they are not first time buyers?

The Zillow survey shows renters with the highest interest in buying are coming from area where the housing downturn was particularly hard.  This would include our own Sacramento area, Miami, Atlanta and Las Vegas to name a few.  This tells me, many of the current renters are most likely not first time buyers but include a large number of former homeowners who lost their homes to foreclosure or short sales.  I can confirm this; after their 3-year waiting period has ended we have been helping former short sale clients get back into a home of their own.

Ten percent of all renters wanting to buy a home, regardless if they are first time buyers or former homeowners, is a great positive sign for the housing market.  At the same time many of these potential buyers will find it is tough to achieve their goal. 

Conditions remain difficult for buyers with restrictive lending continuing to be a major hurdle and although the market is moving toward more balance between buyers and sellers, it is not a steady process.

If you are a renter considering buying in the next year and have questions as to what you should do to prepare for buying a home and/or when is the right time, feel free to give me a call at the MagnumOne Realty office in Roseville (916-899-6571) or send me an email to JulieJ@Jalone.com.

Print

Julie Jalone, wife and mother living in Rocklin, is an experienced professional Realtor ® serving
the Greater Sacramento area including Placer, El Dorado, Yolo and Yuba counties.

Julie may be reached online at www.jalone.com or by calling (916) 276-6883
Check out her daily web blog: Keep it Real in Sacramento



Placer County News Headlines

Rob McAllister Joins Halldin Public RelationsROCKLIN - Longtime Sacramento news reporter Rob McAllister, who became well known for his reporting at both KFBK 1530 radio and KOVR CBS 13 television in Sacramento

Roseville Burglars Evade PoliceRoseville, CA - Police officers searched the Crescendo Drive area extensively today after a resident reported an attempted burglary

Newcastle Resident Elected Region Governor of SoroptomistJacqueline "Jackie" DeMartini, of Newcastle, California is serving a two-year term as Sierra Nevada Region Governor of Soroptimist, an international volunteer organization for women.

10 Year Old Girl Abducted in CarmichaelAt approximately 3:00AM, an unknown white male adult entered a residence through an unlocked door and removed a child under the age of ten years old from the residence against her will.

Writing Your Life Story Workshop September 13thBud Gardner, co-author of Chicken Soup for the Writer's Soul, part of the New York Times best-selling series, will conduct a workshop, How to Write Your Life Story, on Saturday, Sept. 13th

Jessup Gala to Celebrate 75th Anniversary on September 20thROCKLIN, Calif., - William Jessup University will host the Jessup Gala on Saturday, September 20 from 6-9 p.m. The dinner and program festivities raise funds for student scholarships.

Brandman University Adding Roseville LocationRoseville,CA -- Brandman University will be locating at 400 Sunrise Blvd. The 9,182 square foot tenant improvement is valued at over $300,000.

Roseville California Crime Brief (8.31.14)Roseville, CA - Roseville California crime brief update report for August 31, 2014.

Acura ILX: Luxury Vehicle, Reasonable PriceFor car shoppers looking for an upscale luxury sedan that doesn't arrive with a luxurious price tag, Acura debuted the ILX a year ago and its back for 2014 virtually unchanged

People with Autism Especially VulnerablePerhaps like you, recently I read of an incident in Okeechobee, Florida, in which an 18-year-old man was recorded on video beating, choking, kicking, and holding a knife to the throat of a 16-year-old boy with autism.

54 Year Old Roseville Woman Killed with Own VehicleRoseville- 54-year-old Bernadette Ann Richardson was killed when her SUV rolled backwards as she was retrieving a bicycle from her 1997 Ford Explorer.

Photos: Napa Earthquake DamageWe recently had the opportunity to tour Napa following the magnitude 6.0 earthquake. The downtown area of Napa which contains many older buildings was hit especially hard.


more news