HOUSING UPDATE
That’s right according to a recent study from Zillow, in 22 of the 50 largest metro areas, monthly mortgage payments are now lower than rent payments(seechartbelow):
METROSWHEREMORTGAGEPAYMENTSARELOWERTHANRENT
Source: Zillow
As mortgage rates have eased off their recent peak, home prices have moderated, and inventory has ticked up, affordability has improved significantly. When you add all of that up, it’s getting less expensive to buy a homethantorentoneinmanypartsofthecountry.
This is a big deal if you’ve been renting for a while now. But if you don’t see your city on this list, don’t sweat it. Things are moving fast, and your area mightbejoiningthesetopmetrossoon.
You see, talking with a local real estate agent about what’s happening in your marketbeforethishappensinyouridealneighborhoodcouldreallychangethe game for you. It’s all about being informed by a true expert, and understanding what was out of reach before might actually be getting more affordablethanyouthink.
If you’re tired of renting and ready to find out what it takes to purchase a home in your area now that the landscape may be shifting, connect with your real estate agent to do the math and see if buying a home makes sense for you now or sometime soon
Now, while this study compares monthly rent to principal and interest on a mortgage payment (not the whole monthly payment), let’s think through this As Zillow notes, what you can’t ignore when you buy a home are things like taxes, insurance, utilities, and maintenance that should also be factored into your budgetandyourmonthlypayment
But remember – renters pay extra fees too, like renters’ insurance, utilities, parking, and more And while doing the math mayfeellikeadrag,thisequationcouldbeamuchmoreexciting onetoworkthroughtoday.
So, grab your calculator and your agent because the big takeaway is this: it may be time to determine if you’re in a spot toaffordwhatyoucouldn’tjustafewmonthsago
AsOrpheDivounguy,SeniorEconomistatZillow,says:
“ for those who can make it work, homeownership may come with lower monthly costs and the ability to build long-term wealth in the form of home equity something you lose out on as a renter With mortgage rates dropping, it’s a great time to see how your affordability has changed and if it makes more sensetobuythanrent”
Whether you live in one of these budget-friendly metros where the scales have already tipped in your favor, or any town inbetween, it’s time to connect with a local real estate agent to gettheconversationstarted
With mortgage rates coming down and more homes hitting the market, you’ll want to be ready to jump back into your search –beforeeveryoneelsedoes
CONTACTYOURREALTOR ORCLICKHERE!
WHY CHOOSE FBC MORTGAGE?
Choosing the right partners for your home purchase team is an important decision. You need to work with partners you can trust will be there for you every step of the way! This is why you should choose FBC Mortgage, LLC:
Leading national direct mortgage lender
Local and knowledgeable appraisers
In-house underwriting, processing, closing and decision making
Preferred lender for the nation's top real estate agents and home builders
Competitive rates and extensive loan product options
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Available on nights and weekends
Real-time loan updates to our clients and business partners
WHY DO BUILDERS
As one of the most trusted credit repair providers in the mortgage industry, we have developed partnerrelationships with the nation's largest home builders and established a network of over 10,000 loan officers and real estate agents.
Bathroom Design Features Popular with Homeowners
Today
Learnaboutthelatestbathdesignactivityhappeningnow,fromthe2024 U.S.HouzzBathroomTrendsStudy.
1. White Hues
After white, off-white is the most popular color for most bathroom features It surpasses gray in all categories except vanities, where gray leads by one percentage point. Wood is the No. 1 vanity color choice (26%), while white follows closely (22%)
2. Wet Rooms
Among upgraded bathrooms this year, 13% are wet rooms Better use of space is the leading factor, with 66% of homeowners citing this as their primary reason. Universal design (39%) and aesthetics (33%) also are notable motivations.
3. Alcove and Low-Curb Showers
Low-curb showers rank No 1, chosen by 45% of homeowners, an increase of two percentage points from 2023 Alcove showers closely follow, at 44%, up by two percentage points year over year as well. Curbless remains popular too, though the share of homeowners choosing them has dipped slightly (21% in 2024 versus 24% in 2023)
4. Tiled Showers
Nearly nine in 10 homeowners opt for tile when upgrading their shower flooring and walls (87% and 83%, respectively) Ceramic and porcelain are the most common materials for shower surfaces, though some homeowners opt for marble and acrylic.
5. Alcove Bathtubs
Freestanding flat-bottom bathtubs are the top tub choice again this year, though their popularity has slightly decreased (55% in 2023 versus 42% in 2024). Alcove bathtubs, on the other hand, have risen in popularity by 15 percentage points, to 39%.
6. Stock Vanities
The majority of homeowners (57%) still opt for a custom or semi-custom vanity, though the share has decreased by five percentage points year over year. Stock vanities are on the rise, selected by 31% of homeowners, a five percentage point increase, while 7% opt for a ready-to-assemble option.
7. Engineered Quartz Tops
For vanity countertops, engineered quartz remains the favorite, selected by 42% of homeowners, followed by natural stone options: quartzite (20%), granite (15%), and marble (13%)
8. Undermounts Sinks
Undermount is the most favored sink style, chosen by 61% of homeowners Integrated sinks are a distant second choice (15%), followed closely by dropin sinks (14%).
9. Solo Mirrors
Most owners (59%) install only a single mirror, but installing two mirrors is also popular among 37% of homeowners. Five percent choose three or more mirrors. LED lighting tops the list of upgraded mirror features (21%).
10. Specialty Toilets
More than two in five homeowners install toilets that are powered by specialty features (41%), over a third of which are built into the toilet (35%) Features include bidet seats (23%), bidet seats with water pressure (21%), self-cleaning functionality (19%), air dryers (17%), and heated seats (17%)
FALL GARDEN IDEAS FOR A COLORFUL TRANSITION TO AUTUMN
Autumn's cooler temperatures open up a new opportunity to flex your green thumb, whether your garden takes up a small balcony or a sprawling backyard To help you plan your autumn landscape, we tapped experts for their best fall garden ideas, from container flowers to seasonal vegetables
1 Line Your Porch With Mums
Chrysanthemums are one of fall's most recognizable perennials Commonly displayed as container plants, mums also double as front porch décor. "Nothing says 'fall is here' like a beautiful mum-filled front porch," says Rich Christakes of Ship My Plants As long as your porch gets plenty of sunshine during the day, you can never have too many mums in the fall "
2. Install Window Boxes
Add color to your front porch, balcony, or patio by filling window boxes with fall blooms "Some common plants used for window boxes in more mild climates include varieties of asters, pansies, violas, and ornamental kale or cabbages," says Joe Raboine, vice president of design at Oldcastle APG/Belgard
3 Plant Native Flowers
Many native flowers are drought-tolerant, disease-resistant, and attract essential pollinators, all factors that make them a worthwhile addition to your autumn landscape "Native goldenrod and asters look amazing in the fall and will grow in almost every zone," says Raboine "These are perennials and need to be planted in the fall or spring " Other natives include cut-leaf coneflowers, milkweed, and ironweed, which all look great and provide food and habitat for pollinators
4 Experiment With Raised Beds
Raised garden beds allow you to choose your soil composition and are easier on your knees and back than in-ground beds. Use fall's optimal gardening conditions as an opportunity to include raised beds in your landscape "With cooler temperatures and the hot summer sun winding down, fall is a great time to experiment with raised beds," says Raboine "Be sure to place them in an area that receives a good deal of sun and add mulch and compost to help retain the day’s heat and moisture."
5 Use Pumpkins as Makeshift Planters
Blend seasonal décor with fall gardening by using pumpkins as makeshift flower pots "Just hollow out the center, add some soil, and plant," says Raboine. "They will last a few weeks on average, but it’s a creative way to add some interest to your landscape " Since they won't last long, we recommend planting short-lived annuals in lieu of plants that last the entire season
6 Utilize Hanging Baskets
Hanging baskets are a great way to enhance curb appeal and nurture your green thumb Swap out your summer annual hanging plants for fall plants for a touch of autumnal charm "Fill hanging baskets with fall plants and flowers and line your porch or your entryway," says Katie Dubow, president Garden Media Group "Use plants like pansies, ornamental grasses, or fall-blooming sedum "
7 Grow Potted Trees
Container plants don't just mean flowers small trees can also be grown in vessels as a way to fill in your landscape. "Consider using potted trees like Japanese maples or dwarf fruit trees in decorative containers for a striking fall focal point on your patio or porch," says Lou Meyer, arborist for Davey Tree
8.Grow Croton Plants
Make croton plants the centerpiece of your outdoor containers "Larger croton plants, in 8-, 10-, or 12-inch-wide pots make for dramatic beautiful mixed planters," says Justin Hancock, horticulturist for Costa Farms "For example, a croton with a mum, purple fountain grass, and trailing sedum planted together makes for a beautiful display "
9. Grow Seasonal Vegetables
Growing fall vegetables is just as easy (maybe easier) as it is to grow summer ones, says Carrie Spoonemore, co-creator of Park Seed's From Seed to Spoon app "Fall crops can be planted in raised beds since most are on the smaller side," she says "While heat-loving plants like tomatoes won’t tolerate cold weather, many vegetable plants not only handle the cold, but thrive in it "
BENJAMIN MOORE
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