Contract Signings Hit Slowest Pace in Nearly a Decade The housing market is slowing: Pending home sales fell 3.9% in April, marking the sixth consecutive month for declines and the slowest pace in nearly 10 years. NAR’s Pending Home Sales Index—a forward-looking indicator of home sales based on contract signings—was down 9.1% in April compared …
Category: Real Estate Tips
May 31
Over 10 Years, Homeowners Obtained $240K in Equity
Over 10 Years, Homeowners Obtained $240K in Equity As prices climb, homeowners who’ve owned their homes for a while have seen a boost in appreciation. Over the past decade, a homeowner who purchased a single-family existing home would have gained $229,400 in home equity if the home were sold at the median price in the …
May 27
Vacation Rental Listing Scams Grow
Vacation Rental Listing Scams Grow A new article at CNBC is warning vacationers to make sure the short-term rental they’re booking on popular platforms is really not a scam. “Summer plans can quickly melt if consumers aren’t careful when they book their getaway,” New York State Attorney Letitia James wrote in a statement in issuing …
May 27
New-Home Sales Post Double-Digit Drop
New-Home Sales Post Double-Digit Drop Rising prices in the new-home market prompted buyers to take a step back in April. The sale of newly built, single-family homes fell 16.6% in April, dropping to their weakest pace in two years, the Department of Housing and Urban Development and the U.S. Census Bureau reported Tuesday. Rising mortgage …
May 26
Homeowners May Be Underinsured
Homeowners May Be Underinsured Homeowners’ insurance premiums have climbed by 34% in some states, according to a new study by QuoteWizard, a site operated by LendingTree. What’s more, increases in home prices and building material costs may have made many homeowners underinsured. The cost of rebuilding a home is about $36,000 more now than in 2020, …
May 25
Tips for selling your home
Thinking about making changes to your home? With the help of myself and Katy Sychterz of RoundPoint Mortgage, (NMLS# 183951 – 484.534.5107) we can explore homebuying options to help you meet your goals. #RealEstate #Realtor #HomePurchase #BuyersMarket #PlymouthMeetingRP
May 25
Reality TV Skew Buyers’ Perceptions
Reality TV Skew Buyers’ Perceptions Reality TV shows may try to capture the glitz and glamor of the real estate market and what it takes to work in the profession. But Bess Freedman, CEO of Brown Harris Stevens, called the rise of reality TV shows featuring real estate “horrible” for the industry and alarming because …
May 24
Fixed-Rate Mortgages Dip but ARMs Rise
Fixed-Rate Mortgages Dip but ARMs Rise The 30-year fixed-rate mortgage fell slightly this week, a temporary retreat after weeks of steady increases. The 30-year fixed-rate mortgage averaged 5.25%, Freddie Mac reports. Rates dropped following the 10-year Treasury yield trend this week. Last week’s average was 5.30%. “Economic uncertainty is causing mortgage rate volatility,” says Sam …
May 23
A Swimming Pool Isn’t Always a Goldmine
A Swimming Pool Isn’t Always a Goldmine Pools can be a selling point for some homes—but sometimes they can be a detriment. Many American homeowners may find owning a pool a little too risky and expensive, according to a new survey from ValuePenguin, an insurance resource. More than one in 10 Americans who have a …
May 23
Home Builders Feel Less Confident
Home Builders Feel Less Confident Builder confidence posted a significant drop in May as affordability challenges dimmed expectations. The National Association of Home Builders/Wells Fargo Housing Market Index, which measures builder sentiment, fell in May for the fifth consecutive month and dropped to its lowest reading since June 2020. Rising mortgage rates and higher building …
May 20
Sellers With Record Profits May See a Tax Bill
Many home sellers are making a profit on their sale. But if that profit is high enough, they may be on the hook for capital gains taxes. Capital gains taxes kick in when profits exceed $250,000 for single sellers or $500,000 for married couples who file together. As home prices have soared, longtime homeowners may …
May 20
Still Renting.. Read more…
Still renting? With the help of myself and Katy Sychterz of RoundPoint Mortgage, (NMLS# 183951 – 484.534.5107) we can explore homebuying options to help you meet your goals. #RealEstate #Realtor #HomePurchase #BuyersMarket #PlymouthMeetingRP
