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Schmidt Mortgage Company Blog

How is the Government Shutdown Affecting the Housing Market?

In a recent article, the National Association of Home Builders (NAHB) explained some of the effects the housing market is experiencing (or can soon expect) from the partial government shutdown. While we are nonpolitical, we felt it was important and timely to share this information with our readers. In this post, we’ll review the major highlights from the NAHB report and provide a simple breakdown of the shutdown and how different areas of the housing and real estate markets are being impacted.  What is a Government Shutdown? A government shutdown can occur when there is a delay or dispute over the federal

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What Home Features Do Buyers Consider Essential?

If you’re searching for a home, or planning on building a new one, chances are you’ve given a lot of thought to the features that are most important to you. For some, garage storage and formal living rooms top the list. For others, a laundry room and walk-in closets reign supreme. According to a recent poll conducted by the National Association of Home Builders (NAHB), the features that first time home buyers consider essential are remarkably similar to the features most wanted by repeat buyers. The NAHB poll asked prospective first time and repeat buyers which features they considered essential in

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Apartment Size Shrinks While Rent Soars

Apartments are getting smaller, yet renters are paying more. This troubling trend could become a growing problem for younger and lower-income individuals, especially those who wish to save up for a down payment on a house. According to a recent report from CNBC, the average size of newly built apartments in 2018 is 941 square feet, which is 5 percent smaller than it was a decade ago. Studio apartments saw an even more significant decrease; they are now 10 percent smaller than they were 10 years ago. However, the cost of rent has increased 28 percent over the same time period.

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Akron

1953 Englewood Ave.
Akron, OH 44312
Phone: (330) 798-4677
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Rocky River

20545 Center Ridge Road
Suite 250
Rocky River, OH 44116
Phone: (440) 356-3242
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Willoughby

35104 Euclid Ave.
Suite 202
Willoughby, OH 44094
Phone: (440) 953-0447
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