About The Real Estate Group

The Real Estate Group (TREG) “Partners in Excellence”

The mission of The Real Estate Group, LLC is to be Hampton Roads finest provider of real estate services. Our goal is to create a company that provides absolutely the best service for our customers by fostering an environment of teamwork and a common vision. The Real Estate Group, LLC consists of an accomplished team of skilled professionals who take pride in their work and their company. We work hard to go beyond the expectations of our customers, agents, and employees.

A Nation of Overleveraging  

Homebuyers in San Luis Obispo, California, may be out of their league.

According to the 2017 Home Overleverage Report, released Wednesday by WalletHub, the West Coast town is the currently most overleveraged city in America.

The Home Overleverage Report, which measured median mortgage balances against the median income and median home value of the city, found San Luis Obispo homeowners are the nation’s most overleveraged, coming in with an “overleverage score” of 59.52.

The cities homeowners have a median mortgage debt of $333,000, a median income of $16,565, and a median house value of $546,200. Their mortgage debt-to-income ratio is 2,014 percent and a mortgage debt-to-house value ratio of 61 percent.

Following close behind on the list were Williamsburg, Virginia; Brooksville, Florida; Bay Point, California; Willis, Texas; McKees Rocks, Pennsylvania; Ellensburg, Washington; Dumfries, Virginia; and North Fort Myers, Florida.

The impetus behind these overly ambitious cities? According to WalletHub’s Richie Bernardo, it’s the nation’s low mortgage rates.

“Mortgage rates are still hovering at historic lows,” Bernardo wrote, “which could tempt the most impulsive consumers into purchasing a home much sooner than they can or should.”

For the complete article, please see the original article on MReport.com, by clicking HERE.

About The Real Estate Group

The Real Estate Group (TREG) “Partners in Excellence”

The mission of The Real Estate Group, LLC is to be Hampton Roads finest provider of real estate services. Our goal is to create a company that provides absolutely the best service for our customers by fostering an environment of teamwork and a common vision. The Real Estate Group, LLC consists of an accomplished team of skilled professionals who take pride in their work and their company. We work hard to go beyond the expectations of our customers, agents, and employees.