Housing Stock Prompts Remodeling Boom The median age of a home in the U.S. is 39 years old. The aging housing stock signals a growing remodeling market ahead, according to a new report from the National Association of Home Builders. As homes age, they need repairs or updated components such as appliances. Homeowners may add …
Category: Real Estate Tips
Sep 20
Mentorship Program Helps Agents Discover New Niches
Mentorship Program Helps Agents Discover New Niches As the housing market slows, real estate pros may find it’s a perfect opportunity to explore new niches and expand their business opportunities. They’re finding that NAR Spire, the National Association of REALTORS®’ mentorship program, may provide guidance and encouragement. The program, which kicked off last year, aims …
Sep 19
Mortgage Rates Top 6% for First Time Since 2008
Mortgage Rates Top 6% for First Time Since 2008 The interest rate for the 30-year fixed-rate mortgage crossed a major threshold this week, hitting 6.02%—the first time it has broken 6% since 2008, Freddie Mac reported Thursday. Volatile mortgage rates are sending shockwaves through the housing market and unnerving home buyers who are concerned about …
Sep 16
REALTORS® Are Donating More Money, Time to Charity
REALTORS® Are Donating More Money, Time to Charity REALTORS® are building deep connections within their communities, giving more money and devoting more time to support numerous causes from neighborhood cleanups to fundraising for those in need. Eighty-three percent of the nation’s 1.5 million REALTORS® cite community involvement as an important component of their business plan, …
Sep 15
Buyers Should Shop Around for a Mortgage as Rates Rise
Buyers Should Shop Around for a Mortgage as Rates Rise As mortgage rates surge and remain volatile, it’s becoming increasingly necessary for home buyers to shop around for a loan to find savings. According to Freddie Mac, borrowers potentially could save an average of $1,500 over the life of a loan by gathering one additional rate …
Sep 14
New Jersey home – 62 Bismark Ave, Hamilton NJ. 08610
Listing courtesy of Eilleen Cardone, – Coldwell Banker $239,900 Est. Mortgage $1,655/mo* 2 Beds1 Bath1063 SQ. Ft. Description about this home for sale at 62 Bismark Ave, Hamilton NJ. 08610 This Hamilton bungalow offers great flexibility with its floorplan! Featuring a large living (or combo living/dining) space and kitchen, this 2 bedroom, 1 bath home …
Sep 14
Could Solving the Housing Shortage Help Close the Racial Gap, Too?
Could Solving the Housing Shortage Help Close the Racial Gap, Too? The nation’s housing shortage has also fueled a housing inequity problem, Bryan Greene, vice president of policy advocacy for the National Association of REALTORS®, writes in an essay included in a new report, “Housing Underproduction in the U.S.” To close the widening racial gap …
Sep 13
Background, Credit Checks Are Fertile Ground for Lawsuits
Background, Credit Checks Are Fertile Ground for Lawsuits Property managers and other real estate professionals routinely conduct background and credit checks in the course of business. Be vigilant: You could be sued for not adhering to federal and state regulations when gathering and sharing sensitive consumer data. The latest “Window to the Law” video from …
Sep 12
Mortgage Rates Rise Again, Nearing Affordability Threshold
Mortgage Rates Rise Again, Nearing Affordability Threshold Mortgage rates continued inching up this week, nearing a threshold that would bring the average American household to a financial tipping point, warns Nadia Evangelou, senior economist and director of forecasting for the National Association of REALTORS®. The 30-year fixed-rate mortgage jumped to an average of 5.66%, Freddie …
Sep 09
FSBOs Usually Soar in a Hot Market. Not This Time
FSBOs Usually Soar in a Hot Market. Not This Time The volatile housing market over the last couple of years has driven more consumers toward using real estate professionals rather than attempting to complete a transaction independently. FSBOs made up only 7% of home sales in 2021—the lowest share since 1981—according to the latest Profile …
Sep 09
REALTORS® Rush Aid to Kentucky, Missouri Flood Victims
REALTORS® Rush Aid to Kentucky, Missouri Flood Victims The record-setting rains that deluged areas of Kentucky and Missouri in July caused extensive damage to homes and properties. The REALTORS® Relief Foundation has provided $1 million to help flood victims in both states stay in their homes or find emergency housing while recovering from their losses. …
Sep 08
Mortgage Rates Hurt Buyers More Than Home Prices
Mortgage Rates Hurt Buyers More Than Home Prices Mortgage rates were back on the rise this week, hitting an average of 5.55%, Freddie Mac reported Thursday. Rates are nearly double what they were a year ago, and the latest housing data from the National Association of REALTORS® demonstrates the impact of the jump in borrowing …
