Home Repairs Lead to Couple Spats Home maintenance can be stressful and it can be a source of tension among couples. Many couples who live together admit to fighting over household repairs—some even breaking up over them, according to a new survey from Cinch Home Services, a home warranty company. Nearly 52% of about 1,000 respondents said …
Tag: News
Sep 15
Best Time to Buy Is Now
Best Time to Buy Is Now Between Sept. 12 and Oct. 17, the majority of housing markets nationwide will reach their “sweet spot” with a higher number of homes for sale, lower prices, and less buyer competition compared with the average week of the year, according to realtor.com®’s Best Time to Buy Report. This week …
Sep 14
Building Material Costs Continue to Surge
Building Material Costs Continue to Surge A recent decline in lumber prices is helping to mitigate building costs, but that effect is being offset by numerous increases in other building materials that are surpassing records. Home building materials have climbed by up to 19% over the past year, according to the Bureau of Labor Statistics …
Sep 14
Biden Orders Vaccine Mandate for Large Companies
Biden Orders Vaccine Mandate for Large Companies Real estate brokerages and associations with 100 or more employees are likely to be affected under the new emergency order requiring employees to be fully vaccinated against the coronavirus. President Joe Biden on Thursday announced a mandate for COVID-19 vaccines said to affect more than 80 million …
Sep 13
Supersized Down Payments
Supersized Down Payments With higher home prices, home buyers also are bringing higher down payments. On average, buyers in the country’s 50 largest metro areas brought $46,283 to closing, according to a new study from LendingTree. In some areas, average down payments are much higher. For example, in San Jose, Calif., and San Francisco, the …
Sep 13
Home Equity Hits Record High
Home Equity Hits Record High Housing equity surged nearly 40% compared to a year ago and is at a record high, according to a new report from Black Knight, Inc. The average mortgage holder now has $173,000 in equity. That marks an increase of $20,000 just from the end of the first quarter, the …
Sep 09
Consumer Confidence Inches Up
Consumer Confidence Inches Up The housing market is showing some sings of cooling, which may be making more home buyers more optimistic in a competitive market. Thirty-two percent of consumers said in August it’s a good time to buy, up from 28% in July, according to Fannie Mae’s National Housing Survey, a survey of …
Sep 08
The State of Flood Insurance
The State of Flood Insurance Those who live in areas hit by Hurricane Ida will next face the challenge of navigating insurance. Many standard home insurance and home-rental policies don’t cover flood insurance. Flood insurance is usually a separate policy. About 40% to 50% of the flood damages from Hurricane Ida are covered by …
Sep 08
Job Growth May Fuel Higher Mortgage Rates
Job Growth May Fuel Higher Mortgage Rates Mortgage rates remain below 3% for the eighth consecutive week, but economists believe job growth will determine how much longer they’ll likely stay so low. The 30-year fixed-rate mortgage averaged 2.87% this week, Freddie Mac reports. “Job growth seems to be very critical for the following several months …
Sep 08
FHFA Gives Buyers Wider Advantage Over Investors
FHFA Gives Buyers Wider Advantage Over Investors The Federal Housing Finance Agency announced that it was extending the time that owner-occupants can view and purchase foreclosure listings over investor competition. Individuals, families, and nonprofits now have 30 days—up from 20 days—to exclusively bid on real-estate-owned properties under Fannie Mae and Freddie Mac’s First Look …
Sep 08
Listings Jump 5.1%
Listings Jump 5.1% More homeowners are listing their homes for sale, which is opening up options for anxious home buyers who have faced fierce competition the last few months over a limited housing stock. New listings rose 5.1% in the 50 largest metros. The largest increases were in Columbus, Ohio (up 25.6%); Louisville, Ky. (up …
Sep 08
Americans Want Distance From Neighbors
Americans Want Distance From Neighbors Americans want more social distance from their neighbors. A new Pew Research Center study finds a shift in home preferences since the pandemic with more consumers saying they want a larger home, even if it means local amenities are further away. That marks a shift from 2019 when more Americans …
