A Homeowners Net Worth is 30X Greater Than A Renters
Home ownership is one of the American Dreams. Steve Harney a 30 yr Real Estate veteran and thought leader in the market delivered a compelling argument for more renters to consider buying at Sales Mastery 2013.
A couple of interesting statistics Steve pointed out
1. Owning a home is on average 35% cheaper than renting
2. Homeowners on average have a net worth 30X GREATER than renters
3. By 2017 experts predict on average an additional 22.3% appreciation of real estate prices
4. Interest rates will rise over the next year to above 5%
5. The cost of waiting to buy a $250,000 house 12 months from now is an additional $75,000 over the life of the loan
What does this mean to me as a Realtor or Mortgage Planner?
It is my belief that most of us should have a defined FTHB strategy in the coming years. Steve’s statistics served to re-enforce the imperative. Make sure your business plan for 2014 includes the new homeowner!
Rusty Mendoza at Partners Mortgage has developed an amazing system to identify and secure first time home buyer leads. Check out his site at www.GoodByeAppartment.com.
What are you doing this year to secure your fair share of first time home buyers?
Steve Harney is the leading expert in negotiation and leadership training for residential real estate professionals.
His 30 year history of success began as a top performing residential Realtor before he steadily built his own 500 agent real estate firm.