Common Inspection Problems Uncovered in New Homes About 14% of new home buyers—or one in seven—forgo a home inspection, a survey finds from Clever Real Estate. Buyers are more likely to hire a home inspector when purchasing an existing home. But new homes can turn up problems too. For those who did do an inspection, 65% …
Category: Real Estate Tips
May 03
States Where the Middle Class Lives Comfortably
States Where the Middle Class Lives Comfortably The middle class comprises the largest economic group in the country. It’s also a segment that has been increasingly cost-burdened in real estate, often paying more than 30% of their income toward housing. Its members are in search of affordable housing markets, bolstered by a strong job market—middle-class …
May 03
Mortgage Rates Average 5.10%
Mortgage Rates Average 5.10% The 30-year fixed-rate mortgage barely budged this week, but it’s still stressing home shoppers feeling concern about being priced out. The 30-year fixed-rate mortgage averaged 5.10%, down slightly from 5.11% last week, Freddie Mac reports. But it is one week before the Federal Reserve is expected to raise interest rates further, …
May 02
Real Estate Companies Posting the Most Growth
Real Estate Companies Posting the Most Growth Real estate companies are banding together and creating giants in the business that are commanding even more of the market share. The U.S.’s 1,000 largest brokerages accounted for 59.2% of the sales volume in 2022, up from 48.2% in 2019, according to a new report from T3 Sixty, …
May 02
Demand Doubles for ARMs
Demand Doubles for ARMs The share of mortgage applications with adjustable-rate mortgages doubled last week when compared to three months ago, the Mortgage Bankers Association reported Wednesday. ARMs, which start at one rate and then fluctuate after a set period, comprised more than 9% of loans and 17% of the dollar volume. ARMs were blamed …
Apr 29
Is a Calmer Market Coming?
Is a Calmer Market Coming? The housing market is showing some early signs of normalizing. Contract signings dropped in March, the fifth consecutive month that pending home sales have fallen, the National Association of REALTORS® reported Wednesday. The Northeast was the only major region of the U.S. that saw a monthly increase in contract signings. …
Apr 28
Closing Costs – What you need to know…
What are closing costs? Learn more about closing costs below! 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
Apr 27
More Homes Tout Green Features
More Homes Tout Green Features Real estate professionals are finding it’s important to become more familiar with the “green” in their housing market as more clients show greater interest and more sustainable properties hold perceptions of being more valuable. Half of more than 2,500 REALTORS® recently surveyed say they’ve recently helped a client buy or …
Apr 27
Home Buyers Are Still Hopeful
Home Buyers Are Still Hopeful Home prices remain high and mortgage rates are rapidly rising, but home buyers are still hopeful about this spring. A new survey from OJO Labs, a real estate search site, shows that at least half of buyers believe the next three months will be a good time to buy a …
Apr 26
Multiple Offers Remain Prevalent This Spring
Multiple Offers Remain Prevalent This Spring Home sellers are still fetching multiple offers on their properties and buyers continue to face competition, even as the housing market has shown some signs of slowing. REALTORS® reported an average of nearly five offers on each home that sold in March, according to the March REALTORS® Confidence Index …
Apr 25
New-Home Projects Jump 47%
New-Home Projects Jump 47% New-home buyers are having a long wait for their homes to be done. Labor shortages and global supply chain bottlenecks are delaying the completion of many new-home construction projects. The number of housing units that were authorized but didn’t start construction yet rose by 47% nationwide from 2019 to 2021, according …
Apr 25
Foreclosure Activity at New High Since the Pandemic Began
Foreclosure Activity at New High Since the Pandemic Began Foreclosure starts and bank repossessions are at their highest numbers in the last two years. Most pandemic-initiated moratoriums have lifted by now and lenders are starting to resume foreclosures. Still, foreclosure activity remains well below historical levels. The number of properties with a foreclosure filing during …
