Multifamily Construction Is Shifting to the Suburbs About one-third of multifamily building has moved to low-density markets in the suburbs and exurbs, which are seeing populations increase faster than are city centers over the past year, the National Association of Home Builders reported during the virtual International Builders’ Show on Thursday. The suburbs have …
Category: News
Feb 16
Buyers, Renters Are Moving for Love
Buyers, Renters Are Moving for Love Forty-one percent of Americans have moved for love, with men more willing to relocate than women for their significant other, a new survey of 1,550 Americans from LendingTree finds. The top five states for a romance relocation, the survey finds, are: Florida (11%), California (10%), New York (7%), Texas …
Feb 16
Mortgage Amounts Reach Record Highs
Mortgage Amounts Reach Record Highs The average purchase loan amount has reached a new record high: $402,200, the Mortgage Bankers Association reported Wednesday. The higher-priced segment of the housing market continues to perform strongly, the MBA says. Mortgage amounts have been climbing to new record highs since April 2020, near the start of the COVID-19 …
Feb 15
Demand for Vacation Homes Surges
Demand for Vacation Homes Surges More buyers are eyeing a vacation home during the pandemic. Mortgage applications for second homes jumped 84% year over year in January. In September 2020, they surged by an even greater amount: 118% year over year. “Although demand is down slightly from the fall peak, the fact that nearly twice …
Feb 15
What Sellers Should Not Display in Their Home Office
What Sellers Should Not Display in Their Home Office The home office has become an important space to stage, but certain memorabilia displayed could turn off some buyers who view the property in-person or online. “For more buyers to see themselves in that office space, you’ll do well to take a lot of ‘you’ out …
Feb 12
Home Sellers Are Feeling More Optimistic
Home Sellers Are Feeling More Optimistic As home prices rise by double-digit margins year over year, homeowners are increasingly viewing selling favorably. Consumers reported a significantly more positive view of homeselling conditions month over month in January, jumping 16 percentage points on net, according to Fannie Mae’s Home Purchase Sentiment Index, based on a survey …
Feb 10
Reopening Plan Vital for Brokers to Avoid Liability
Reopening Plan Vital for Brokers to Avoid Liability Many brokerages are considering reopening workplaces to workers, clients, and the public as the COVID-19 vaccine brings hope against the pandemic. But with more than 1,500 workplace safety lawsuits related to coronavirus exposure since the start of the pandemic, a COVID-19 reentry plan is necessary to …
Feb 10
The Selling process explained…
The road to selling a home can be daunting without the help of a professional real estate agent. It’s our goal to get your home sold quickly with you being educated and prepared for what’s to come. John Coneys of Freedom Mortgage, (NMLS# 183853 – 610.322.4886) and I can help you figure out how the …
Feb 09
More Borrowers Are Turning to Credit Unions for Loans
More Borrowers Are Turning to Credit Unions for Loans Credit union membership and lending is growing as borrowers increasingly turn to them for mortgages. Between the end of 2019 and September 2020, credit union membership increased by 3.37 million, or 2.8%. Credit union membership now totals 125.11 million, CNBC reports. Further, loan portfolios at credit …
Feb 09
Ex-Urbanites Bring Rude Awakening to Quiet Suburbs
Ex-Urbanites Bring Rude Awakening to Quiet Suburbs Former urban dwellers who have fled to quieter, smaller towns during the pandemic may find resistance to their big-city lifestyles among their new neighbors. An estimated 5% of New York’s population—or more than 300,000 people—moved to the suburbs over the last year, according to U.S. Postal Service data. …
Feb 08
Mortgages for Home Purchases Reach Record High
Mortgages for Home Purchases Reach Record High As home prices rise, home buyers are having to borrow more. The average amount for a mortgage on a home purchase recently surged to an all-time high of $395,200, the Mortgage Bankers Association reported for the week ending Jan. 22. “Average purchase loan amounts in early 2021 …
Feb 08
Spring Buyers Must Be Ready to Act
This spring will likely be another fiercely competitive one for home buyers. Real estate professionals should prepare their house hunters for record low inventories and rapidly rising home prices. “Demand for housing was already strong coming into the year and we don’t see that slowing down with millennials reaching prime home-buying age, and many remote …
