Will Multigenerational Living Lose Traction? As home prices continue to rise, housing experts see an ongoing effort by extended family members to pool their money to combine households and save on costs. But data suggests that rising home prices do not correlate to multigenerational living, according to a new analysis from LendingTree. Some current multigenerational …
Category: Real Estate Tips
Mar 10
6K Homes Sold $100K or More Above Asking
6K Homes Sold $100K or More Above Asking Home buyers continue to drive up home prices in bidding wars, and some are willing to offer six figures above the asking price to beat the competition. In the U.S., 5,897 homes sold for at least $100,000 over the asking price at the beginning of this year. …
Mar 10
Novice Sellers
Novice Sellers With soaring home prices and high demand, homeowners are finding it a great time to sell. But some sellers—particularly first-timers—may be so caught up in the headlines about the rosy market that their expectations may become clouded. Real estate professionals shared with realtor.com® some of the mistakes of rookie home sellers in the current market: Unrealistic price expectations: …
Mar 10
Americans Fear Even Higher Rental Costs
Americans Fear Even Higher Rental Costs Rents have been climbing higher and higher, and Americans have felt it in their wallets. A record number of Americans say they expect rents will rise even more over the next year as well, according to a newly released Fannie Mae survey. Sixty-nine percent of respondents said rental prices …
Mar 09
Mortgage Rates Could Hamper Affordability
Mortgage Rates Could Hamper Affordability About 87.5 million households are unable to afford a median-priced new home, according to data from the National Association of Home Builders. If the new-home market prices were to rise by just $1,000, an additional 117,932 would be priced out. Mortgage rates also could further hamper household affordability. Many economists …
Mar 09
Jumbo Loans Reach 16-Year High
Jumbo Loans Reach 16-Year High Hoping to take advantage of mortgage rates that are still historically low, more Americans are pushing into higher mortgage levels to afford more expensive homes. Lenders reported that 2021 marked the highest dollar volume in jumbo loan originations since 2005. Jumbo loans are mortgages that exceed the loan limits of Fannie …
Mar 08
Office Occupancy Is Increasing
Office Occupancy Is Increasing Employees are headed back to the office. After the pandemic caused many companies to encourage work-from-home policies for office workers, real estate indicators signal a reversal. As they return, companies want more space. As of February, office occupancy continued to increase, with 84% of 390 metro areas seeing a rise, according …
Mar 08
High Heating Bills Stun Homeowners
High Heating Bills Stun Homeowners Heating bills this winter have left many homeowners in sticker shock. The rising cost of fuel has made heating bills jump by from 5% to 50% this winter—a warning that federal agencies made last fall. Still, in some regions, heating bills are higher than forecasters anticipated. Money Magazine spoke to …
Mar 07
Rates Drop Amid Russia-Ukraine Conflict
Rates Drop Amid Russia-Ukraine Conflict Mortgage rates fell again this week amid Russia’s invasion of Ukraine, sparking uncertainty across the globe including in U.S. markets. The 30-year fixed-rate mortgage dropped to a 3.76% average this week, Freddie Mac reports. “Geopolitical tensions caused U.S. Treasury yields to recede this week as investors moved to the safety …
Mar 07
Homeowners Value Their Yards More
Homeowners Value Their Yards More More than three-quarters of Americans who have a yard say the family yard space is one of the most important parts of their home, according to a poll of 1,700 consumers by the TurfMutt Foundation. Since the pandemic began, homeowners are showing more appreciation for their yards and spending more …
Mar 02
Home Sizes Continue to Grow
Home Sizes Continue to Grow The American home is getting larger. The pandemic has prompted more homeowners to want more space to spread out in, and also may have encouraged bigger households as more people live under one roof. That has led to an increase in the size of new single-family homes. The median single-family …
Mar 02
Mortgage Rates Rise After Preapproval
Mortgage Rates Rise After Preapproval Buyers are getting preapproved for mortgages to better compete in a fast-paced housing market and to be mortgage-ready as soon as they are ready to make an offer. However, preapproval doesn’t lock in their mortgage rate, which can continue to rise . Some buyers are finding that after their offer is …
