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Thanksgiving Activities with your Kids & Thanksgiving Trivia

by Cheryl Scott-Daniels
If you missed the Parade Spectacular held November 22 which marks the beginning of the holiday season (featuring 16 giant balloons, marching bands, fantastic floats, clowns, and a special visit from Santa, the Stamford parade is recognized as one of the best in the country), don't be dismayed because here in Connecticut, the fun never ends.  Visit these places and mark your calendars :  connecticut.mommypoppins.com/events​

 
How much do Americans REALLY Know About Thanksgiving?

We walked around Hollywood and asked people to tell us about the history of Thanksgiving. Their responses will surprise you! How much do YOU know?

Posted by What's Trending on Wednesday, November 25, 2015
 
 

 

 

Homeownership Stability and Home Equity to a Family

by Cheryl Scott-Daniels

 Homeownership Builds Wealth and Offers Stability

     

The most recent Housing Pulse Survey released by the National Association of Realtors revealed that the two major reasons Americans prefer owning their own home instead of renting are:

1. They want the opportunity to build equity.
2. They want a stable and safe environment.


Building Equity

In a recent article, John Taylor, CEO of the National Community Reinvestment Coalition, explained that those who lack the opportunity to become homeowners have a weakened ability to reinvest their wealth:

We traditionally have been huge supporters of homeownership. We see it as a way to provide stability for households but also as an asset-building strategy. If you continue to be a renter, locked out of the homeownership arena, increasingly those things are further and further out of reach. They’re joined at the hip. They perpetuate each other.

 

Family Stability

Does owning your home really create a more stable environment for your family?

A survey of property managers conducted by rent.com last month disclosed two reasons tenants should feel less stable with their housing situation:

  • 68% of property managers predict that rental rates will continue to rise in the next year by an average of 8%.

 

  • 53% of property managers said that they were more likely to bring in a new tenant at a higher rate than negotiate and renew a lease with a current tenant they already know.


We can see from these survey results that renting will provide anything but a stable environment in the near future.

 

Bottom Line

Homeowners enjoy a more stable environment and at the same time are  given the opportunity to build their family’s net worth.

source: KCM


The Importance of Home Equity to a Family

   

There has been much written about how dramatically home values have increased over the last several years. With the increase in values, comes an increase in the equity each home owning family now has. The Joint Center of Housing Studies at Harvard University recently reported that, after taking inflation into account, aggregate home equity has increased 60% since 2010. Home equity is the major component of most family’s overall wealth.

Why is this important?

Throughout history, families have tapped into their homes for many important reasons. Perhaps it was to get seed capital to start a new business; perhaps to help finance their children’s college education; perhaps to get needed medical attention not covered by insurance.


Up to ten years ago, families were able to use the equity in their homes to better the living situation for themselves and their family. More small businesses were created. College students weren’t forced to take on massive student debt. People could get needed medical care.


This hasn’t been the case over the last ten years as families found themselves in a position of having zero equity or, even worse, negative equity post the housing collapse. However, that is about to change.

 

Using your home as an ATM is not a good idea.

We realize that there are inherent risks to tapping into the equity in your home especially if you do it for the wrong reasons. Back in 2005-2007, homeowners were using their homes as their own personal ATM machine to buy depreciating assets like cars, boats and jet skis. This reckless behavior should never be repeated.

However, using your equity (aka family wealth) to invest in yourself, your children or other family members that could use help still makes sense. And the good news is that more and more families can do this as home values continue to increase.

Bottom Line:

As Julián Castro, U.S. Secretary of HUD, recently explained:

“Generation after generation, the primary vehicle to create wealth in our country has been through homeownership. In the U.S., homeownership has provided an opportunity for one generation to hand over to the next that opportunity and that wealth.”

Home equity gives families an additional financial option when money is needed. The proper use of this family wealth can be used to grow generational wealth.

 

source: KCM


[INFOGRAPHIC]

Some Highlights:

  • Interest Rates are still below historic numbers.
  • 88% of property managers raised their rent in the last 12 months!
  • Credit score requirements to be approved for a mortgage continue to fall. The 723 average score is the lowest since Ellie Mae began reporting on scores in August 2011.
  • The average first-time home buyer down payment was 6% in 2015 according toNAR.

source: KCM

THE ADVOCATE featured Cheryl Scott- Daniels

by Cheryl Scott-Daniels

 

 

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Cheryl Scott-Daniels
CSD Select Homes
991 Post Rd East
Westport CT 06880
203-341-0100
203-200-0065
Fax: 866-806-6909