Jun 26
First Impressions Matter More Than Ever. BY: Daily Real Estate News A good first impression is important in real estate. Online appeal gets buyers to view the home in person, and curb appeal gets them in the door. With 90 percent of buyers looking for homes online, listing photos are crucial and should not be …
Jun 26
Good News for High-End Home Buyers? Jumbo loans are reportedly becoming easier to obtain, which may be welcome news for high-end home buyers. Jumbo loans are mortgages larger than $417,000 in most parts of the nation and $625,000 in high-cost areas. In the first quarter of 2013, lenders originated $54 billion in jumbo loans, up …
Jun 25
Building Material Shortages Raise Concern. Shortages of key building materials—such as lumber and wall board—are a major barrier to a more robust recovery for the new-home industry, says David Crowe, chief economist of the National Association of Home Builders. Recent surveys by NAHB and the National Lumber and Building Material Dealers Association show supply constraints …
Jun 25
Are Appraisals Finally Playing Catch-Up? Many real estate professionals have been blaming low appraisals for derailing transactions over the last few years. But now home prices are heating up across the country. Are appraisals still coming in lower than the agreed-upon sales price? Even with prices rising and the number of foreclosures falling, some appraisers …
Jun 21
Don’t Let Your Clients Get Scammed by Movers. Complaints are rising over a scam that involves moving companies providing low-ball estimates to customers and then later inflating fees once the truck is loaded, and holding customers’ possessions hostage until they pay more. The scammers threaten to auction off the person’s belongings unless they come up …
Jun 21
10 Best Cities for the Young, Broke and Single. Yes, there are perfect cities for the “young, broke and single” too, according to a new survey by advice web site MoneyUnder30. The site conducted a national survey to reveal the top cities that offer young professionals the best employment opportunities, lowest cost of living, and …
Jun 20
Home Ownership Makes Happier, Healthier Families, Survey Shows. Owning a home can make families healthier, happier, and more financially secure, according to new research by Canada Mortgage and Housing Corp. on the benefits of home ownership. Researchers worked with Habitat for Humanity families to evaluate how their lives changed after moving into their homes. Eighty-nine …
Jun 20
Loan Demand Falls as Rates Continue to Edge Up. Mortgage rates rose to their highest level in more than a year, which decreased demand for home loans last week, the Mortgage Bankers Association reports. Mortgage applications for home purchases, considered a leading indicator of future home sales, dropped 3 percent last week. Meanwhile, mortgage applications …
Jun 19
Housing Markets turn around. Kiplinger Personal Finance recently singled out 12 metro areas’ housing markets as faring the best in 2012. Kiplinger attributed strengthening economies, below-average unemployment rates, and increasing buyer confidence as turning these metros into seller’s markets. The 12 metros are: Phoenix Provo, Utah Cape Coral-Ft. Myers, Fla. Minneapolis Akron, Ohio Youngstown, …
Jun 19
Big Milestone in Home builder Confidence. Home builder confidence is at its highest level in seven years, reaching a big milestone in June, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The index, which measures home builder sentiment over the new-home market, rose eight points in June to 52 — …
May 23
3 Million New Home Owners Could be on the Horizon The National Association of Hispanic Real Estate Professionals estimates that immigration reform could bring an estimated pool of 3 million new home owners into the market. The nonprofit trade association estimates that current legislation proposing to give legal status to some immigrants has the potential …
May 23
Mortgage Applications Tumble as Rates Rise. Mortgage applications last week dropped 10 percent after rates soared to their highest level since March, the Mortgage Bankers Association reported in its weekly mortgage market survey for the week ending May 17. The refinance index—which reflects applications for refinancing—fell 12 percent last week, while applications for home purchases …
