Greens may dominate paint firms’ lists of the hottest color of the year, but neutral colors still reign for the largest buyer pool. Eighty-one percent of interior design experts recently surveyed say whites and creams are the best colors to use when selling a house in 2022, according to the Paint & Color Trends 2022 …
Category: Real Estate Tips
Feb 02
Homebuying Deal Breakers
The housing market remains competitive, but not to the point where home shoppers will overlook some kinds of flaws in a home. Exterior issues, like bad siding or loose bricks, and weatherproofing issues are among the biggest issues that home buyers said would make them pass on a home, according to a survey from HomeAdvisor …
Feb 02
Most Popular Paint Colors
Classic white remains the most popular color choice in kitchens, but homeowners continue to experiment with wider palettes for that room and other areas of the home. “With white kitchens, there’s never a risk of looking dated in a few years, while the sleek minimalistic feel is effortlessly complemented by dark counters or contrasting kitchen …
Feb 01
Mortgage Rates Level Out After Rising 5 Weeks
Mortgage rates held steady overall this week, a welcome relief to home shoppers who may have been watching them rise week after week since the beginning of the year. The 30-year fixed-rate mortgage averaged 3.55% this week, Freddie Mac reports. “Following a month-long rise, mortgage rates effectively stayed flat this week,” says Sam Khater, Freddie …
Feb 01
Young Adults Move Back Home in Record Numbers
As the pandemic caused by COVID-19 has continued, more young adults have chosen to move back home with their parents. In 2020, the share of young adults aged 25 to 34 living at home rose to the highest share recorded since 1960: 17.8%, the National Association of REALTORS® reports. That percentage remained high in 2021 …
Jan 31
Hikes Loom as Fed Announces Increases in March
In an effort to tame inflation, the Federal Reserve announced it soon will need to raise its benchmark interest rate—the first time in more than three years. That likely will put pressure on mortgage rates, and even though the Fed’s benchmark rate doesn’t directly affect home borrowing rates, they do often have an impact. The …
Jan 31
Home Seller Profits Averaged $94K in 2021
Home sellers in 2021 may have been a little shocked at the profit they made selling their homes. A report shows that home sellers nationwide realized a profit of $94,092 on a typical sale in 2021, up 71% from two years ago, according to ATTOM Data Solutions, a real estate data firm. Home seller profits rose …
Jan 31
New Year New Home
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Jan 27
Rising Rates May Spark Buying Spree
The fear of missing out, or “FOMO” as it’s called on social media, could prove to be a strong motivation for potential home buyers to enter the market quickly as mortgage rates rise. The potential loss of homebuying power may “supercharge the housing market ahead of the spring homebuying season,” says Mark Fleming, chief economist …
Jan 26
Fewer Buyers Waiving Contingencies
Home shoppers are showing less willingness to waive appraisals, home inspections, or other contract contingencies during the purchase of a home compared with just a few months ago, according to the December 2021 REALTORS® Confidence Index Survey, a survey of REALTOR® transactions conducted by the National Association of REALTORS®. Nineteen percent of buyers waived the …
Jan 25
Skip the Spouse, Buy the House?
A growing number of single women are moving ahead with a real estate purchase. More than two-thirds of single women recently surveyed said they’d rather not wait until marriage to purchase a home, according to a Bank of America survey that suggested more single females are “skipping the spouse ahead of the house.” Eighty-seven percent …
Jan 25
Home Buyers Taking on Supersized Loans
Applications to purchase new homes remain skewed toward higher-priced homes, the Mortgage Bankers Association reports. The average loan size for a new home soared to a record high last month, reaching $423,102, the MBA reports. That marks an increase from $414,114 in November on new-home loan sizes. Higher sales prices are following higher building costs. …
