The Rochester branches of HUNT Real Estate ERA, through a Valentine’s Day-inspired event called “Share the Love,” collected $1,100 in donations and over 700 food items in support of Foodlink (www.foodlinkny.org).
Foodlink is a regional food bank that has a 40-year history of mobilizing a diverse network of community partners to address both the symptoms and root causes of food insecurity throughout the Greater Rochester and Finger Lakes region of New York.
“HUNT Real Estate’s food drive was a huge success. Our sales professionals, clients, family, and friends came together to support Foodlink’s mission to combat food insecurity in our area,” said Maria McGill, Licensed Associate Real Estate Broker at the Brighton/Pittsford office. “We would like to thank everyone that participated by donating groceries and contributing monetary donations.”
“At HUNT Real Estate, it’s important to us that we give back to the communities that we serve,” commented Chip Murphy, Regional Vice President for HUNT Real Estate ERA. “We are proud that our collective contribution through FoodLink will help countless families and individuals across the Rochester and Finger Lakes area.”
Consumers have traditionally believed that on today’s market, a 20% downpayment is required. However, the median average downpayment was 12%. First-time homebuyers had a median amount of 6% while repeat buyers have a median of 16%. In comparison, back in 1989, the median payment was 20%. First-time homebuyer’s average was at 10%, and repeat buyers were at 23%.
While a 20% payment can have its benefits, it’s not always possible for every buyer. And that’s okay! According to the numbers is not the norm for many buyers in today’s market.
Obstacles to 20%
13% of all buyers cited saving for a downpayment as the most difficult task in the home buying process. The report examined the common barriers to saving. Since 2015, the #1 expense preventing buyers from saving for this major cost has been student loan debt. The next most common answers included credit card debt and car loans.
When asked about what is holding them back from saving, most respondents said their limited income prevented them from saving (32%). Other obstacles included rising rents (22%), and health and medical costs (16%).
Saving for Your Downpayment
So how can you help yourself save for a downpayment? While there are some factors you can’t plan for, like health and medical expenses, you can do your best to set yourself up for success. Here’s how:
Look at your budget and see where you can save. Cut unnecessary spending when possible.
For example, if you buy a specialty coffee every morning from Starbucks before work, you could save up to $1,000 a year!
Transfer a specific account into a savings account every paycheck. Make sure it is a separate account that you won’t touch.
Work on paying down debts like credit cards and car loans
The bottom line: homeownership can be possible without a 20% downpayment. Questions about financing? Be sure to check out HUNT Mortgage and speak with a knowledgeable Mortgage Consultant today.
HUNT sold over 5,700 units and surpassed $1.2 billion in sales volume in 2020 in WNY
HUNT Real Estate ERA has announced that 2020 was a record-breaking year for the company in its Western New York region. HUNT Real Estate sales professionals based in the Buffalo Niagara region sold 5,753 units, totaling $1.235 billion in sales volume. The sales data was provided by the Buffalo Niagara Association of Realtors for the time period of January 1, 2020 through December 31, 2020. The data also shows that HUNT Real Estate finished 2020 as the leading real estate brokerage among the more than 340 broker members of the Association for the most units sold and the highest total sales volume in Western New York.
“We are grateful to the thousands of clients that chose to work with our Sales Professionals to reach their homeownership objectives,” stated Peter Hunt, Chairman & CEO of HUNT Real Estate ERA. “I’m personally grateful to our Professionals who combined their efforts to make HUNT Real Estate the #1 residential brokerage in this region in our 109th year of continuous service.”
We are pleased to welcome the following sales professionals to the HUNT Real Estate ERA family. Their association further affirms our commitment to offering the highest level of service to our clients.
Rochester & Southern Tier Region
Central & Northern NY Region
WHY SHOULD YOU JOIN HUNT? HERE ARE JUST A FEW REASONS…
The HUNT® Reputation Rankings & Accolades
#1 Family-Owned and Operated Real Estate Firm in New York State
Top-Ranked Broker in the ERA Real Estate network
Ranked #35 on REAL Trends Top 500 Brokerages Survey*
Gene Francis Memorial Award Winner Honoring ERA’s Top All-Around Company
Member of Who’s Who in Luxury Real Estate
Ranked one of Western New York’s Fastest-Growing Companies
The Most Productive Agents
1600 Licensed Real Estate Professionals in 50+ Branches