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Rainmaker
1,975,315
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

I don't consider it all that easy for most people to buy a home these days.

Oct 12, 2017 05:52 AM
Ambassador
2,098,094
Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

As much as I believe in the American Dream, I believe in having skin in the game as well. Skin in the game is not a class or having someone else pay for your downpayment. Skin in the game is learning how to manage your money and SAVE. 

As for making lending easy for buyers - a good lender does just that! My preferred lenders have CTC well before Closing and my buyers give RAVE reviews, sharing how pleasant the process was. 

Oct 12, 2017 06:21 AM
Rainmaker
3,821,681
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

I think everyone deserves the opportunity to own a home, if they qualify.... if they're creditworthy, but have no money to put down, they still deserve to own... "good credit" should mean something....

Oct 12, 2017 05:48 AM
Rainmaker
796,581
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

If you cannot look further than a year into the future than home ownership is not for you. I would not describe a home purchase as "easy" unless you can pull a wad of cash from your pocket and lay it down. There is a cost that isn't always revealed in the transition from renting to owning and if you're ready to undertake the effort you're ready to enjoy the benefit. The "edge" isn't the obstacle it's the chasm between the two! 

Oct 12, 2017 06:32 AM
Rainmaker
1,109,120
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Disagree!

Oct 12, 2017 05:57 AM
Rainmaker
477,958
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

This has been a problem for over 20 years. Not everyone should be a home owner. Just because you can do something does not mean you should. It is a responsibility that many are just not able to handle.
To begin with. And when you go in without any safety net--equity-- that risk becomes much greater.

Oct 12, 2017 06:45 AM
Rainmaker
1,027,340
Bob "RealMan" Timm
National Marketing Realtors - Minot, ND
Bob Timm Owner/Broker National Marketing Realtors

Sorry Ano but I've never had a Buyer say "that was easy" after going through the lending process.

Oct 12, 2017 06:09 AM
Rainmaker
278,880
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

I respectfully disagree. 

Oct 12, 2017 07:46 AM
Rainmaker
4,120,055
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

I have sold many homes with no money down and the closing costs paid by the seller. Give every qualified family the opportunity to purchase a home.

Oct 12, 2017 07:38 AM
Ambassador
1,782,634
Fred Griffin
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  I am not part of the "we" groups that you mention.

Oct 12, 2017 07:37 AM
Rainmaker
920,532
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

This is a complicated question with an even more complicated answer...in some cities, rents and housing prices are so high, it makes it very difficult for the average person to save enough for a down payment.  In our area, if you don't want to live in a condo, it is not unusual for a first time home buyer to be looking at 400-500k for a townhouse (no garage at that price) and much more for a detached home.  So, saving much for a down payment is tough.  Since many first responders and teachers don't make a lot of money but are very responsible individuals, is it right to paint everyone with a broad brush? 

If I am not mistaken, during the implosion of the market a few years ago, someone had stats showing the down payment was not a predictor of future success in continuing to make payments, so there is that. 

Are there people who are not well suited for homeownership?  Sure and if they make bad choices, then they should suffer the consequences, but I don't think we can make a broad statement that anyone who doesn't have a down payment is not well suited for home ownership. 

Oct 12, 2017 07:03 AM
Rainmaker
1,349,091
Sandy Padula and Norm Padula, JD, GRI NMLS#1483386
Realty One Group - Carlsbad, CA
Presence, Persistence & Perseverance

The pre '08 period seems to be re-visiting us. Could be you are right

Oct 12, 2017 06:44 AM
Rainmaker
2,694,699
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Even with some of the incentive programs available for people to become homeowners, I don't believe the process is  "too easy".   As far as the market and failure -- there are so many other factors involved.   Markets are always in a state of change and shift.  Sometimes it's just more noticeable.  

Oct 12, 2017 06:42 AM
Rainmaker
1,085,827
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

To someone that saved and struggled to scrape together even a very small downpayment (3%, 3.5%, etc.) ... or just Closing Costs, that amount of money may be HUGE skin in the game when they buy their home.  It can represent a real achievement and source of pride.  I've seen it countless times. 

Currently, regulations and rules pertaining to borrowing money are too strict to consider home buying as "easy".  Ask those that financed recently.  Should protections be removed ... current laws, rules, & regulations removed, it would change quickly. 

Gene

Oct 12, 2017 02:08 PM
Ambassador
1,436,156
Alan May
Coldwell Banker Residential - Evanston, IL
Helping you find your way home.

I think we make it too easy to ask questions anonymously.

Oct 12, 2017 12:58 PM
Rainmaker
1,266,200
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Area Real Estate

Are you paranoid? You sound like it. Just do what your vocation says you do - sell a house.

Oct 12, 2017 10:12 AM
Ambassador
2,970,345
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams fox cities - Stevens Point, WI
Forestland Experts! 715-204-9671

And thats the way the cycle goes...

Oct 12, 2017 10:07 AM
Ambassador
3,249,929
Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

I don't necessarily think it's easy to buy a home these days

Oct 12, 2017 07:51 AM
Rainmaker
607,107
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Absolutely! It's the writing on the wall that more foreclosures are imminent.

Oct 12, 2017 07:12 AM
Ambassador
1,131,452
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I live for danger.

Oct 12, 2017 07:04 AM
Rainmaker
3,606,767
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

no

Oct 12, 2017 05:52 AM
Rainmaker
658,721
Jennifer Mackay
Keller Williams Success Realty - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

How is buying a home easy?

It takes lots of work by all parties involved

Oct 12, 2017 03:43 PM
Rainmaker
190,560
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

I hope we do not go back to the no doc loans that led to the recession. People who qualify should have the opportunity to purchase a home, but they have to afford the monthly payments!

Oct 12, 2017 09:20 AM
Rainmaker
908,169
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

YES!  It is getting easier, not quite to the "fog a mirror" state, but we are close.  Securities tied to things you can default on (rents instead of mortgages).

 

I'm in the group that firmly believes you should have to work to earn that house and be responsible and maintain it and pay your mortgage on time and in full.  I do NOT believe in giving homes away or letting anyone buy a home regardless of if they can afford it or not.

Oct 12, 2017 08:56 AM
Rainmaker
194,710
Chuck Mixon
The Keyes Company - Cutler Bay, FL
Cutler Bay Specialist, GRI, CDPE, BPOR

I could not agree with you more. I feel if someone does not work for something they do not appreciate it. It is the American dream to own a home, but for some it is still out of reach. I have two customers that it is hard to find something to show them. 

As for better citizens, I don't see that foreclosures and short sale have been at record levels over the past decade. Homeowner are not maintain home they way they did in the past. So you may be on something, that it too easy and home are now disposable commodity.

Oct 12, 2017 07:14 AM
Rainmaker
2,156,557
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

caveat emptor

Oct 12, 2017 06:05 AM
Rainmaker
565,222
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Well. lets consider this differently.

As a result of the massive wealth transfer that occurred in the 2008 recession, nearly half of the people sleeping under a roof are RENTING. 

The corp investors who own this real estate know they must ensure their occupants stay trapped in the rent trap and keep raising rents 6% a year.

The renters will never save enough for a downpayment. Many are spend 1/2 of their income on lodging.

So they place their hope in winning a law suit, hitting the lucky number or a dear relative leaving them something.

As @erin so well explained, down-payment IS NOT a predictor of default. However, we so like to say that it is.

Oct 12, 2017 05:53 AM
Rainmaker
84,359
sandy straley
Rindlesbach Homes - Salt Lake City, UT
Selling Homes for over 35 Years

Who said homeownership is easy. . .  you still have to have good credit and a job, plus with mortgage insurance this does not help affordable housing, it is becoming an outrageous fee. . . .. 

Oct 12, 2017 09:46 AM
Rainer
37,693
Joe D'Agostino
NMLS# 729950 - Manahawkin, NJ
Mortgage Officer 46 years!

You live in another world! As a Mortgage Banker with 50 years in the business, this may be the most difficult time to buy a home. I ask this question. If you you cannot qualify for a100% finance program, most borrowers would then go FHA 3.5% Down. Let's look at a $285,000 purchase. The borrower would need $9,975. down, plus closing costs(if the seller won't contribute) That's about $5-$6000 depending on escrows,. That's $15,975. they may also need Reserves for 2 months (approx. $2,600.) for a grand total of $18,575. So if you think $18,575. is a easy figure  for many borrowers living pay check to pay check? I have seen many good people, with good credit,and good Debt Ratios not have approx. $20K in the bank. Now that's the sad story,and let's not forget the intense documentation that has become more difficult due to Dodd-Frank and the CFPB.

 

Oct 12, 2017 08:11 AM
Rainmaker
439,776
Mike & Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

I think you said it perfectly...

Eve

Oct 12, 2017 07:21 AM
Rainmaker
3,289,674
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding and Marketing

I agree once again with Nina Hollander 

Oct 13, 2017 03:57 PM
Rainmaker
2,470,602
Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Kevin J. May nailed this one!

Oct 13, 2017 04:59 AM
Ambassador
3,220,517
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I do not find it easy and think there are several layers of vetting that take place to make sure the buyer is ready to take that steps.

Oct 12, 2017 09:02 PM
Rainmaker
3,224,243
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I have been talking about that for some time

Oct 12, 2017 06:00 PM
Rainmaker
330,334
Greg Large
ERA Real Solutions - Grove City, OH
A Tradition of Trust

home ownership is not necessarily a direct attribute of being a good "citizen".

Oct 12, 2017 05:29 PM
Rainer
2,275
Howard Marks
Howard Marks, Consultant - Golf, IL
Results Oriented Negotiations and Consulting

The alternative to home ownership is ownership by a few very wealthy individuals and large companies. I believe means should be created that make home ownership easy without much risk.

The main enemy of ownership is debt, if one looks at the foreclosures in almost any venue. Therefore, the wise thing to do is to buy homes that are priced such that you can buy "for cash" or, if financed, within your capacity to make payments for. 

Considering the role that banks play in home ownership, if one gets a typical 30 year mortgage loan on a purchased home, one may pay the bank, in interest, double or triple what the original home cost, even at interest rates at 4 - 5%. Is that fair?  

Try to pay cash. Or make sure you can afford the payments if you get a mortgage!

 

Oct 12, 2017 10:10 AM
Rainmaker
680,708
Carol Williams
U.S.: I specialize in helping agents who have been in the business 2 years or less create a thriving business. - Wenatchee, WA
"Customized Mentoring & Marketing Services"

Prices of homes are keeping many people pretty far from the edge.   By loosening qualification standards or 100% financing (in whatever form)  is, IMHO, an invitation to come to the edge.

Oct 12, 2017 08:10 AM
Rainmaker
752,582
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

I could care less for what NAR has to say. In CA agents are not required to pay their membership.  Adios NAR.

Oct 12, 2017 07:49 AM
Rainmaker
299,420
Lynda White
Bluegrass Homes & Farms Realty, Agent Know How - Louisville, KY
Admin. Mgr., Keller Williams Realty

We bought our home a year and a half ago, and I wouldn't say it was easy. We had take a half-day class on homeownership and provide our own down payment (so I sort of agree with you and another commenter about having "skin in the game").  However, I do believe that most people should have the chance to own a home at least once in their lifetime, should they desire to do so. It will sure make things easier in our later years when it's paid off. I imagine Social Security will be a thing of the past when that happens. 

 

Oct 12, 2017 07:27 AM
Rainmaker
2,263,303
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

Responsible people need an opportuni. There will always be a few cheaters

Oct 16, 2017 05:34 AM
Rainmaker
3,092,027
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I have not had a buyer say it was easy to get a loan yet.

Oct 15, 2017 06:19 AM
Rainmaker
2,261,585
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Do not think it is easy at all.

Oct 14, 2017 10:52 AM
Rainmaker
3,787,692
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Not as long as the qualifications remain sound.

Oct 13, 2017 06:40 AM
Rainmaker
2,343,059
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

I havenot had an easy one where people with apulse and nothing else got a loan like 12 years ago where they were handed out to anyone who asks. Even the 100% financing are pretty tough to get these days

Oct 13, 2017 05:51 AM