Home Prices Climb Home prices continue to rise rapidly as homeowners see double-digit gains over the past year. The median sales price of single-family existing homes rose 16% in the third quarter, an increase of $50,300, according to the latest quarterly report from the National Association of REALTORS®. Three metros saw price gains of …
Tag: News
Nov 15
Homes Continue to Sell at Record Pace
Homes Continue to Sell at Record Pace Home buyers are still snatching up homes at a quick pace. Homes sold more quickly in October than in any October in recent history, according to realtor.com®’s Monthly Housing Report. The typical home spent just 45 days on the market in October, reaching an eight-month streak of homes …
Nov 15
Will Higher Values Mean Higher Taxes?
Will Higher Values Mean Higher Taxes? As home values rise, some homeowners may want to brace themselves for a potentially shocking property tax bill, housing experts warn. The magnitude and timing will vary. But property taxes are expected to rise by hundreds of dollars in many areas, even in states such as California and …
Nov 11
Credit and what to expect.
Credit and what to expect. Check out these credit tips when applying for a mortgage. 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
Nov 10
Cash-Out Refis Surge as Owners Use Equity Gains
Cash-Out Refis Surge as Owners Use Equity Gains With double-digit annual gains fueling homeowner wealth, owners have gotten richer, and they’re starting to take advantage of that added equity. Cash-out refinancing, which allows owners to take out a lump sum from their equity through loans, increased by 33% in October compared to a year …
Nov 09
Unrealistic Expectations of First-Time Home Buyers
Unrealistic Expectations of First-Time Home Buyers A first-time home buyer may need to be educated about the realities of the housing market before they fall in love with a home and then quickly lose out to another bid. To prevent heartache, real estate professionals can have frank conversations with their buyers about the realities of …
Nov 09
Bidding Wars Still Burden Unsuccessful Buyers
Bidding Wars Still Burden Unsuccessful Buyers A majority of house hunters say it’s not prices that are keeping them out of the housing market—it’s other buyers. Forty-five percent of prospective buyers recently surveyed say they keep getting outbid by other offers, according to a new survey from the National Association of Home Builders. The NAHB …
Nov 09
U.S. House Passes Bipartisan Infrastructure Bill
U.S. House Passes Bipartisan Infrastructure Bill The U.S. House of Representatives passed the bipartisan Infrastructure Investment and Jobs Act Friday, sending it to President Joe Biden for his signature. The $1.2 trillion bill is the most significant investment in infrastructure in decades. It includes new money for the power grid, managing climate risks, and repairing and …
Nov 08
Mortgage Rates Post Temporary Drop
Mortgage Rates Post Temporary Drop Offering slight relief to home buyers this week, the 30-year fixed-rate mortgage fell to a 3.09% average. But rates may rise again soon. Housing analysts largely expect mortgage rates to increase in the following months due to the Federal Reserve’s announcement this week that it will slowly reduce its monthly …
Nov 08
Pets Influence the Choice to Move
Pets Influence the Choice to Move More homeowners have become pet owners since the pandemic, and homeowners are showing a willingness to move for their pet. In fact, 43% of pet owners say they’d be willing to move to accommodate their pet, according to the National Association of REALTORS®. What’s more, 68% of pet …
Nov 08
Home Sale Profit Margins Hit 10-Year High
Home Sale Profit Margins Hit 10-Year High Home sellers continue to get richer as prices rise. Profit margins on median-priced single-family home and condo sales climbed to 47.6%, which marks the highest level in a decade. The typical home sale nationwide during the third quarter generated a record-high profit of $100,178 as national median home …
Nov 03
Millennials to Keep Housing Strong for Years to Come
Millennials to Keep Housing Strong for Years to Come Expanding wealth and growing families are prompting more millennials to become homeowners. Ultra-low mortgage rates are continuing to attract them as well. Young adults ranging from 26 to 41 years old comprise about 22% of the U.S. population. It’s why the housing market has been …
