Aug 07
Owners May Underestimate Their Equity A large number of home owners may be erroneously perceiving themselves as underwater on their mortgage, suggests a new analysis by economists at the University of California, Berkeley. Between mid-2011 and the fourth quarter of 2014, home prices nationally have risen about 20 percent. But in a recent Fannie Mae …
Aug 06
More States Break Previous Home Price Peaks Home prices are rising as inventories of homes for-sale remains limited. The National Association of REALTORS® recently reported that the median existing-home price for all housing types reached $236,400 in June – 6.5 percent above year-ago levels, surpassing the last peak median sales price set in July 2006 by more than …
Aug 04
Make Yourself More Persuasive In real estate, persuasion can take you far, whether it’s finding ways to save your clients money in a negotiation or trying to court new business. Scott Yancey, CEO of the startup CloudWords, offers some tips on how to become more persuasive, taking from his experience of being an entrepreneur …
Aug 03
Mortgage Rates Dip Back Below 4% Average fixed mortgage rates continue to fluctuate week-to-week, with the 30-year fixed-rate mortgage dropping below 4 percent this week, offering temporary relief to home buyers and refinancers after hitting its highest average for the year earlier this month, Freddie Mac reports in its weekly mortgage market survey. “The mortgage …
Jul 31
More Young Adults Living at Home The job market is rebounding and wages are increasing, yet a higher number of millennials—people born after 1981—are still living with their parents or other adults. A new Pew Research Center study of U.S. Census Bureau data showed that in the first part of 2015, 26 percent of millennials lived …
Jul 29
47% of Homes Are Selling in Less Than a Month In some cities across the country, homes are selling faster than ever. Nationally, properties typically stayed on the market for 34 days in June, the shortest number of days since the National Association of REALTORS® began tracking in May 2011. Short sales spent …
Jul 28
The 8 Biggest Concerns for REALTORS® REALTORS® are “strongly confident” about the housing market’s outlook over the next six months, although confidence has eased since the beginning of this spring, according to the latest REALTORS® Confidence Index, a monthly survey of nearly 3,000 REALTORS® about local market conditions. In general, REALTORS® continued to report “strong” …
Jul 27
3 Reasons Why It’s a Great Time for Sellers Rising home prices, demand from home buyers, and less competition is making 2015 a stellar year to sell for many U.S. home owners across the country, says Daren Blomquist, RealtyTrac’s vice president. Blomquist points to these three factors behind why this year is shaping up more …
Jul 24
Home Prices Reach an All-Time High The rise in buyer demand combined with a limited number of homes for sale pushed the national median sales price above its 2006 peak and to a record high, according to the National Association of REALTORS®. The median existing-home price for all housing types reached $236,400 in June – …
Jul 23
Isn’t the Condo Market Rebounding? While construction of single-family homes and multifamily rentals is on the rebound, condo construction has sunk to new lows. A condo rebound has been delayed by stringent rules on condo mortgages that took effect post-housing crisis, as well as stronger demand among young people for rentals, The Wall Street Journal …
Jul 22
Land Costs Have Skyrocketed Over 40 Years Average land prices have risen over the past 40 years, with the biggest price growth mostly occurring in western and eastern states. In 1975, all 48 contiguous states and Washington, D.C. had average land values below $15,000. After that year, land costs started a steady climb. In 2015, …
Jul 17
Report Calls for a Bigger Fight Against ‘Blight’ Communities are confronting different types of blighted properties, from littered and vacant lots to foreclosed and abandoned homes, according to a recent Keep America Beautiful report. Blight that causes physical changes to properties can cause “harmful impacts on the lifecycle of neighborhoods and their residents,” says KAB President …
