This Month in Real Estate (US) November 2011

http://www.kw.com NOVEMBER Hello and welcome to This Month in Real Estate. I'm JAY PAPASAN.

Our top story: what kinds of homes are first time homebuyers looking for? We'll have the answer in a moment.

But first, the numbers.
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And now, our top story. According to a recent report from KW research ...

• Over half of all first time home buyers stayed in the same area where they were renting
• More than three quarters of all first time home buyers purchased a single family detached home
• Most first time home buyers purchased a three bedroom and two bath home

For tips on buying right the first time, we turn to News You Can Use ...

NEWS YOU CAN USE


When it comes to the decision between buying or renting, some renters think they simply can't afford a mortgage. The reality is if you're renting, you are already paying a mortgage -- it just happens to be your landlord's, not your own.

Here are three secrets of homeownership that your landlord doesn't want you to know ...

Number 1: Equity. You can build wealth through equity. Think of equity as a long-term savings account. Every month you pay your mortgage, a portion of that mortgage goes into that account.

Number 2: Appreciation. You can build even more equity though appreciation. Think of appreciation as the interest your home earns over time.

Number 3: Control. A home that's yours means you won't need your landlord's permission to paint, renovate and make it a home of your own.

If you're ready to stop paying your landlord's mortgage and start building your own wealth, talk to your real estate professional.
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That's all for This Month in Real Estate. Thank you for joining us.

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