Bridge Loans May Help With Intense Bidding Wars A bridge loan may help your buyer fund their next home before completing the sale of their current home. Essentially, it’s a way to take out a loan against their current home to make a down payment on a new home. This temporary loan is helping …
Tag: News
Mar 30
Rate Pressures
Rate Pressures Home buyers may feel even more of a rush to lock in mortgage rates trying to get ahead of any further increases. Over the last month, the 30-year fixed-rate mortgage has moved above its sub-3% ultra-low averages to jumping this week to a 3.17% average. “During the course of the pandemic, ‘home’ has …
Mar 30
Demand for Pools, Hot Tubs Surging Due to COVID-19
Demand for Pools, Hot Tubs Surging Due to COVID-19 New in-ground residential pools saw a 21% uptick in 2020 compared to 2019. States like Arizona, Texas, and Florida saw permits rise by up to 30%, Janay Rickwalder, a spokesperson for the Pool & Hot Tub Alliance, an industry research group, told The Escape Home. …
Mar 29
Service Members Prefer Real Estate Pros With Military Expertise
Service Members Prefer Real Estate Pros With Military Expertise Buyers and sellers in the military have unique needs, and that may be why they prefer to work with a real estate professional who is more familiar with the issues service members face as they make housing decisions. Ninety-seven percent of active-duty service members and …
Mar 29
First-Time Buyers Persevere in Hot Market
First-Time Buyers Persevere in Hot Market Between rising home prices and shortages of homes for sale, the market has been difficult for buyers, with those trying to buy for the first time particularly feeling the effects. A don’t-give-up mindset may be key for first-time home buyers. Forty-three percent of more than 800 prospective home buyers …
Mar 24
Is it time for a mortgage check up?
Is it time for a mortgage check up? Is it time you had a mortgage checkup? Find out if your mortgage is contributing to your financial health by contacting John Coneys of Freedom Mortgage, (NMLS# 183853 – 610.322.4886) and me, for a no-obligation mortgage review. Together we can discover if buying, selling or refinancing …
Mar 24
How Much Home Is Too Much
How Much Home Is Too Much Home buyers have been seeking more space since the pandemic, but in the luxury market, there still appears to be limits on how big buyers are willing to go. Homes in the top 1% by price that are between 5,000 and 10,000 square feet were the fastest-selling in the …
Mar 24
Golf Properties Are Once Again in High Demand
The pandemic is renewing interest in living on a golf course, according to Sotheby’s International Realty 2021 Luxury Outlook report. After five years of closures around the country, golf courses are once again gaining popularity, with Sotheby’s reporting a 26% increase in golf property searches globally from January 2020 to February 2021 compared to 2019. …
Mar 23
Google Bets Big on a Return to the Office
Google Bets Big on a Return to the Office Some tech companies are still betting big on the return to the office once the pandemic fades. Google’s Alphabet Inc. is the latest, with a commitment to spend $7 billion this year on expanding its offices and data centers across the U.S. The company also …
Mar 23
Mortgage Rates Continue to Climb
Mortgage Rates Continue to Climb Sub-3% mortgages are slowly fading into the rearview mirror as the 30-year fixed-rate mortgage continues to inch up. The 30-year fixed-rate mortgage averaged 3.09% this week, Freddie Mac reports. Economists continue to remind consumers that mortgage rates are still near historical lows and are hovering around 3%. “Even though mortgage …
Mar 22
Fed Vows to Keep Benchmark Rate Low
Fed Vows to Keep Benchmark Rate Low The Federal Reserve voted on Wednesday to keep its benchmark interest rate near zero and at historic lows as the economy continues to recover from the COVID-19 pandemic. The Fed went on further to indicate that they won’t likely raise interest rates until 2023—at the earliest. But that …
Mar 22
Builders Slow Production
Builders Slow Production Construction on new homes weakened in February as material costs—notably on lumber—continued to challenge growth in new-home construction. Housing starts—including for single-family and multifamily building—fell 10.3% to a seasonally adjusted annual rate of 1.42 million units in February, the U.S. Department of Housing and Urban Development and Census Bureau reported Wednesday. Broken …
