Tiny Homes Interest Grows as House Prices Climb Tiny homes—those typically under 600 square feet—are facing increased demand as housing affordability remains a growing issue. While many home buyers have looked to supersize their homes during the pandemic, other buyers are finding homeownership may be more attainable by downsizing into a tiny home. Eighty-six percent …
Category: Real Estate Tips
Aug 25
Hopeful Buyers
Hopeful Buyers More homes are coming onto the market and as they do, home buyers are eager to snatch them up. Existing-home sales—completed transactions that include single-family homes, townhomes, condos, and co-ops—increased 2% in July compared to June, reaching a seasonally adjusted annual rate of 5.99 million, the National Association of REALTORS® reported Monday. …
Aug 24
Cheapest Places to Rent
Cheapest Places to Rent Apartment rents are on the rise, but not everywhere. That said, “finding a cheap apartment often feels like winning the lottery,” notes Apartment Guide, a listing and resource for apartments nationwide, in a recent study. Renters Are Facing Bidding Wars Too Single-Family Rents Post Sharpest Increase Since 2005 Apartment Guide identified …
Aug 24
Mortgage Rates Barely Budge, Remain Below 3%
Mortgage Rates Barely Budge, Remain Below 3% The 30-year fixed-rate mortgage held near last week’s average and continues to average near historical lows and under 3%. “Mortgage rates stayed relatively flat this week,” says Sam Khater, Freddie Mac’s chief economist. “Housing is in a similar phase of the economic cycle as many other consumer goods. …
Aug 23
Fewer New-Home Starts
Fewer New-Home Starts The decrease in new-home construction affects the overall housing market, including the rental market, says Lawrence Yun, chief economist of the National Association of REALTORS®. Housing starts in July dropped 7%, and single-family home construction within that fell 4.5%, the Commerce Department reported Wednesday. “Rents will be soaring in the coming months, especially …
Aug 23
Places to Buy a Vacation Home
Places to Buy a Vacation Home Vacation homes are in demand since the pandemic, but which hot spots are consumers targeting that offer some of the best investment potential? Vacasa, a vacation rental management platform, released its 2021 Top 25 Best Places to Buy a Vacation Home report, identifying the top U.S. destinations for purchasing …
Aug 20
Still Renting? The leap from renter to owner is closer than you think!
Still Renting? The leap from renter to owner is closer than you think! With the help of myself and John Coneys of RoundPoint Mortgage, (NMLS# 183853 – 610.322.4886) we can explore homebuying options to help you meet your goals. #RealEstate #Realtor #HomePurchase #BuyersMarket #PlymouthMeetingRP
Aug 18
Listings Begin to Linger
Listings Begin to Linger Even in this ultra-hot competitive market, there’s a limit to what home buyers are willing to pay. Some home sellers are starting to see their listings linger on the market, and those sellers may face the prospect of a price cut. Realtor.com®’s July housing data showed that about 45 cities of …
Aug 18
REALTORS® See Hope for Eviction Ban to Be Overturned
REALTORS® See Hope for Eviction Ban to Be Overturned A federal judge rejected a request from housing groups on Friday to block the Centers for Disease Control and Prevention’s latest eviction moratorium, but the legal fights are far from over. Led by the Alabama and Georgia associations of REALTORS®, with the National Association of REALTORS®’ …
Aug 17
Mortgage Rates Rise for First Time in 6 Weeks
Mortgage Rates Rise for First Time in 6 Weeks Mortgage rates inched up slightly from their near all-time lows this week. The 30-year fixed-rate mortgage averaged 2.87%, Freddie Mac reported. “Following last Friday’s strong jobs report, which revealed broad based gains in employment and wage growth, mortgage rates are moving higher,” said Sam Khater, Freddie …
Aug 17
Renters facing bidding wars
Renters facing bidding wars Bidding wars are growing more commonplace in the rental market as the demand for apartments and single-family rentals outpaces the supply. “We’ve been leasing property for almost 20 years, and we haven’t seen an applicant pool this competitive since we’ve started,” Vipin Motwani, managing principal at Iron Gate Development in Clinton, …
Aug 16
First-Time Home Buyers
First-Time Home Buyers Mortgage demand for home purchases reversed course last week, after falling for the past month, the Mortgage Bankers Association reported Wednesday. Mortgage applications to purchase a home increased 2% for the week and offered a signal that more first-time buyers may be emerging. Still, purchase applications are 18% lower than a year …
