Cheapest Homes on the Market Demand for homes in some of the lowest-cost neighborhoods in the country is surging in the red-hot housing market, prompting neighborhood revitalization projects to spread. U.S. ZIP codes where the median home price is less than $100,000 have posted a 42% jump in home values in the past three years, …
Tag: News
May 18
Half of Homes Sell Above List Price
Half of Homes Sell Above List Price Home buyers are facing relentless competition in the housing market, driven by low mortgage rates and inventory. According to the latest REALTORS® Confidence Index, based on real estate transactions nationwide in March, practitioners report an average of five offers on their most recent listing. In a separate report …
May 17
Bidding Wars Over Zoom?
Bidding Wars Over Zoom? Holly Meyer Lucas, a team leader of Meyer Lucas at Compass in South Florida, came up with an idea for bringing home bidding wars to Zoom to “open the playing field” for sellers and buyers. She believes it could provide more transparency in multiple offer situations if all bidders could meet …
May 17
Fast Home Sales Leave Some Sellers Homeless
Fast Home Sales Leave Some Sellers Homeless Homes are selling quickly and that has caused a problem for many home sellers. With housing inventories at record lows and buyer competition strong, home sellers are finding it difficult to purchase a new home to move in to before they must leave their existing home. Some sellers …
May 13
Get your home search off to the right start
Get your home search off to the right start Deciding to purchase a home is an exciting time, but it can also bring along a whole list of questions. With the help of myself and John Coneys of Freedom Mortgage, (NMLS# 183853 – 610.322.4886 you can get your home search off to the right start. …
May 13
Worst DIY Home Blunders
The DIY industry has been booming since the pandemic as more homeowners tackle house projects while sheltering in. But some projects may be doomed to fail. Homeowners report spending an average of $184.13 to fix their failed DIY house projects, according to a new survey from Cinch Home Services, a home warranty company. Certain DIY …
May 12
Buyers Expect Prices to Rise Further
Buyers Expect Prices to Rise Further Competition in the housing market is fierce and it’s prompting home prices to rise quickly, but that doesn’t appear to be deterring some home buyers. A slim majority of 53% of Americans believe it’s still a good time to buy, according to a new Gallup survey of about 1,000 …
May 12
Extreme Weather Causing Higher Utility Bills
Extreme Weather Causing Higher Utility Bills Over the past 12 months, extreme weather—which has ranged from heat waves to forest fires to unexpected frigid temperatures—has caused not only caused damage to homes but also prompted higher electricity bills for a growing number of homeowners nationwide, according to a new study from Sense, a home energy …
May 11
Brokerages Offer Consumer Incentives
Brokerages Offer Consumer Incentives As the industry is finding itself up against a tight inventory and the market so competitive, brokerages are offering incentives for clients to work with them. Realogy hopes to attract more prospects with a new client incentive for customers who might be interested in a “vaxication” as well as a home. …
May 11
Judge Vacates CDC’s Eviction Ban, But Appeal Delays Action
Judge Vacates CDC’s Eviction Ban, But Appeal Delays Action A U.S. District Court judge for the District of Columbia ruled Wednesday that the Centers for Disease Control and Prevention’s nationwide eviction moratorium is unlawful, striking down the ban and delivering relief to housing providers who haven’t been able to collect rent from struggling tenants for …
May 10
Existing Homes Really More Pricey Than New
Existing Homes Really More Pricey Than New The median existing-home price for a single-family home in March jumped to a record high of $334,500, according to data from the National Association of REALTORS®. Meanwhile, the median sales price of a newly built home was $330,800, according to U.S. Census Bureau data. New homes are traditionally …
May 10
‘This Isn’t a Bubble’
‘This Isn’t a Bubble’ The U.S. housing market is on a hot streak with double-digit annual gains in home prices, bidding wars, and surging buyer demand. That type of soaring housing market is prompting more “bubble” fears in some corners, but economists say the housing market isn’t getting overinflated. “We have strong conviction that we …
