that first appeared in the August 2017 Housing News Report and is excerpted here that highlighted some equity sharing options putting homes within reach for new homeowners. We are learning from watching and listening to the market. Recent data reported by Attom Data Solutions shows more than 16 percent of all single-family purchases in Q1 2017 were to “co-buyers” — multiple, non- married buyers listed on the sales deed — up from 15 percent in Q1 2016. Similarly, year-over-year growth in the share of co-borrowers – multiple,

non-married borrowers listed on the purchase mortgage or deed of trust — accounted for 22 percent of all single family purchase loan originations in Q1 2017. This is up from 20 percent in Q1 2016. By banding together, co-buyers can afford more home than they could alone. At the same time, they may be able to reduce their risk exposure as they may no longer need to stretch to afford a home they would enjoy. Imagine the individual who alone may qualify for a $500,000 home and with a friend or loved one can purchase an

$800,000 home with just $400,000 exposure in their 50 percent ownership. An added benefit can be the social aspects of living with friends or family of your choosing. At CoBuy, we have been surprised to discover just how many different cohorts of people are finding benefits in co-buying. Three of the earliest adopters who we’ve been working with are: • Unmarried • Intergenerational households • Friends The beauty of co-buying is that it

It’s an exciting time to be an entrepreneur, especially in the financial and real estate space. It’s especially invigorating to see new forms of ownership evolve and become a part of the mainstream conversation. Just in the last couple months, we’ve seen IKEA launch an experimental project called One Shared House 2030 challenging us to imagine the way we’ll live in the future. Others, like WeWork are also tackling the opportunities of co-living with their nascent WeLive project. As we enter the new frontier of collaborative working and living, as business leaders we will certainly be called upon to help answer and explore some of the toughest questions that arise around real estate, finances and the social, ecological and economic impacts of the coming changes. Pamela Hughes is Co-Founder of CoBuy, Inc. Prior to founding CoBuy, Inc. she was a successful broker in the state of Washington for nearly 15 years with Coldwell Banker Bain and Keller Williams. Pam is an advocate for a financial planning approach to helping people build and protect wealth with real estate.


6.06% 6.18% 8.17%

Better Better Better Better Worse Better Better Better Better Better Better Worse Worse Better Better Better Better Better Better Worse Better Better Better

Better Better Better Better Worse Worse Worse Better Worse Worse Worse Worse Worse Worse Better Better Better Worse Worse Better Better Better Better

Better Better Better Better Worse Better Worse Worse Better Better Better Better Better Better Better Better Better Worse Worse Better Better Better Better

5.74% 5.52% 5.26% 6.00% 5.31% 5.80% 7.78% 6.36% 5.33% 6.08% 5.05% 5.69% 7.25% 8.31% 8.73% 3.12% 3.73% 1.74% 4.85% 5.91% 6.62% 6.83% 6.71% 7.51% 5.39% 5.60% 5.23% 3.62% 4.64% 2.97% 6.90% 7.65% 4.20% 7.25% 7.24% 6.26% 5.67% 6.89% 5.26% 6.13% 6.48% 5.94% 8.54% 6.42% 5.60% 4.14% 4.38% 2.19% 4.44% 4.62% 2.84% 7.21% 9.15% 10.85% 7.11% 8.62% 8.04% 13.21% 12.29% 11.01% 5.21% 5.20% 4.17% 5.82% 5.91% 5.00% 5.95% 5.69% 5.15%

CO-BORROWER HEAT MAP Q2 2017 Q2 2017 Percent of Single Family Purchase Loans with Co-Borrowers 10.3% 61.0%

CA-Los Angeles CA-San Diego

CA-San Francisco 7.04%



DC-Washington 3.12%

FL-Miami FL-Tampa GA-Atlanta IL-Chicago MA-Boston MI-Detroit

4.97% 7.25% 5.43% 3.90% 7.23% 6.94% 5.43% 6.23% 9.01% 5.15% 5.44% 7.31% 7.15% 12.90% 5.70% 6.19% 6.15%

MN-Minneapolis NC-Charlotte NV-Las Vegas NY-New York OH-Cleveland OR-Portland

TX-Dallas WA-Seattle

is quick and does not require policy change. Co-buying creates supply from existing inventory by expanding the target properties within reach for new buyers. Sharing a home also decreases demand as you may have multiple “heads of household” occupying one dwelling instead of two or three. Just as eating a healthy

diet was happening long before the term “vegetarian” or “vegan” became mainstream, co-buying has been around for all time. Like eating healthy, there is a body of information and there are a host of advisors who can provide structure, guidance and protection to enable a positive co-buying, co-living and co-ownership experience.

Composite-10 Composite-20 National-US

% Better





28 | think realty magazine :: february 2018

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