Mistakes Buyers Make in Bidding Wars Multiple offers on a home sale are still common, and buyers may get caught up in the competition and make some mistakes in the process. One common mistake: buyers who are willing to empty their bank account trying to win. “I’ve had buyers who want to bid all the …
Tag: News
Jun 21
Shrinking Buyer Pool
Shrinking Buyer Pool The Federal Reserve unleashed another hike to its short-term benchmark rate Wednesday. The increase, the Fed’s largest since 1994, likely will have an impact on the housing market, economists say. The Fed’s key rate often influences mortgage rates, though it doesn’t directly affect them. Rates are moving at a much faster clip …
Jun 20
Protect Your Website From Copyright Claims
Protect Your Website From Copyright Claims Copyright claims are growing in the real estate industry, and many cases end in a judgment against the agent or brokerage accused of violations. Your website or business materials may put you at greater risk for litigation than you think. You could be held liable for copyright infringement even …
Jun 20
Homeowners Skeptical Over iBuyers
Homeowners Skeptical Over iBuyers Sixty-six percent of homeowners recently surveyed say they don’t believe iBuyers yield higher sales prices than traditional sales. However, a nearly equal number say they would consider using an iBuyer due to the flexible options for selling, a new survey from Clever Real Estate finds. The number of iBuyer companies and …
Jun 16
Aging Housing Stock Prompts Remodeling Boom
Aging Housing Stock Prompts Remodeling Boom The median age of a home in the U.S. is 39 years old. The aging housing stock signals a growing remodeling market ahead, according to a new report from the National Association of Home Builders. As homes age, they need repairs or updated components such as appliances. Homeowners may …
Jun 16
Buyers Pause Amid Rising Rates
Buyers Pause Amid Rising Rates Some home buyers are backing away from the market, with a plan to wait six or even 12 months before they resume their search, according to a new survey of 900 real estate professionals conducted by HomeLight. About 35% of real estate professionals reported that they have seen buyers drop …
Jun 14
Homeowners See 12-Month Equity Gain of $64K
Homeowners See 12-Month Equity Gain of $64K Rising home prices keep pushing up equity for homeowners. The average homeowner gained about $64,000 in equity from the first quarter of 2021 to the first quarter of this year, according to a new report from CoreLogic. About 62% of all properties nationwide saw an increase in annualized …
Jun 14
Mortgage Rates Turn Upward Again
Mortgage Rates Turn Upward Again Following three weeks of declines, mortgage rates reversed course and headed back up this week. The 30-year fixed-rate mortgage averaged 5.23% for the week ending June 9; a year ago, it averaged below 3%. Increased economic activity and incoming inflation data were behind the most recent rate increases this week, …
Jun 13
Second-Home Hot Spots
Second-Home Hot Spots Many booming second-home locations are seeing a rapid growth in rentals. The pandemic spawned demand for second homes as an increase in remote work options prompted more Americans to relocate to resort areas. Prices in second-home hot spots have soared, and so have the rental prices. Average rental prices increased 17.1% year …
Jun 13
Buyers Boost Spending on Remodeling
Buyers Boost Spending on Remodeling Home buying is good for the economy. Each home purchase triggers significant spending on furnishings, appliances and remodeling. A recent study from the National Association of REALTORS® estimated that, in 2021, the housing market generated a median of about $113,000 in economic impact per home sale. Read more: How Home …
Jun 10
Buyers May Be Gaining Leverage
Buyers May Be Gaining Leverage A turning point may be occurring in the housing market. Fewer people were searching for “homes for sale” on Google during the week ending May 21, down 10% from a year earlier. Home tour activity is falling slightly, mortgage purchase applications are down 14% compared to a year earlier, and, …
Jun 09
Will you be moving soon?
Check out this handy moving check list to ensure moving day is less of a hassle! 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
