Mortgage Rates Hurt Buyers More Than Home Prices Mortgage rates were back on the rise this week, hitting an average of 5.55%, Freddie Mac reported Thursday. Rates are nearly double what they were a year ago, and the latest housing data from the National Association of REALTORS® demonstrates the impact of the jump in borrowing …
Tag: Real Estate
Sep 07
Lawrenceville, NJ. Home – 70 Schindler Ct. #35 Lawrenceville, NJ. 08648
Listing courtesy of Karen Friedland – BHHS Fox & Roach – Princeton $499,000 Original price: $525,000Est. Mortgage $3,925/mo* 3 Beds3 Baths2647 Sq. Ft. Description about this home for sale at 70 Schindler Ct. #35 Lawrenceville, NJ. 08648 For those seeking the tranquil, carefree lifestyle in a tight-knit, age-restricted community, 70 Schindler Court delivers on all …
Sep 07
Delco / Broomall, PA. Home – 215 Media Line Road, Broomall, PA. 19008
Listing courtesy of Jason Katz – Compass RE $400,000 Est. Mortgage $2,630/mo*3 Beds2 baths1311 Sq. Ft. Description on this home for sale at 215 Media Line Road, Broomall, PA. 19008 Beautifully maintained home, located within the well sought after Marple-Newtown School District! Freshly painted and ready to move in, this 3 bed, 1 1/2 bath …
Sep 07
Survey: 94% of Sellers Don’t Disclose Property Defects
Survey: 94% of Sellers Don’t Disclose Property Defects Home buyers who waive the inspection contingency must rely heavily on seller disclosures to be informed about any potential problems with the property. But more than 90% of buyers say they found at least one issue with their home after the transaction that the seller didn’t disclose, …
Sep 06
NAR: Contract Signings, Down Again, May Have Hit Bottom
NAR: Contract Signings, Down Again, May Have Hit Bottom Home buyers continue to recoil from higher mortgage rates and home prices, with pending home sales in July plummeting nearly 20% year over year, according to data from the National Association of REALTORS® released Wednesday. Though summertime is traditionally busy for the real estate market, contract …
Sep 06
New-Home Sales Plummet as Rising Costs Sideline More Buyers
New-Home Sales Plummet as Rising Costs Sideline More Buyers Just a year ago, homebuilders were overflowing with new contracts and, at times, raffling off their few remaining lots to wait-listed buyers. But since then, buyer traffic has slowed significantly as costs have soared. Rising mortgage rates and high inflation have crashed the homebuilding party. New-home …
Sep 06
Jersey Shore / Sea Isle City Home – 235-235 W 38th St. Sea Isle City, NJ. 08243
Listing courtesy of Frank Preto – EXP Realty, LLC $899,000 Est. Mortgage $5,663/mo*4 Beds2 Baths1332 Sq. Ft. Description About this home for sale at 235-235 W 38th St. Sea Isle City, NJ. 08243 One-of-a-kind Sea Isle townhome offers appealing spacious layout and attractive new upgrades. First floor includes 2 bedrooms with individual climate control and …
Sep 02
Homes Haven’t Been This Unaffordable Since 1989
Homes Haven’t Been This Unaffordable Since 1989 The average monthly mortgage payment jumped 54% year over year in June while the median household income rose only 5.8%, according to the National Association of REALTORS®’ Housing Affordability Index. As home affordability weakened and the median home price shot to a record $413,800 in June, NAR’s index …
Sep 02
Mortgage Rates Settle In the 5% Range
Mortgage Rates Settle In the 5% Range Mortgage rates appear to be settling in the 5% range after recent dramatic climbs that shocked home buyers. The 30-year fixed-rate mortgage averaged 5.13% this week, down slightly from its 5.22% average a week ago, Freddie Mac reports. Mortgage rates peaked at 6% in early June, which prompted …
Sep 01
Avalon / Jersey Shore Home – 4028 Ocean Drive #2, Avalon, NJ. 08202
Listing courtesy of Ann Delaney – Tim Kerr Sotheby’s International Realty $1,295,000 Original price: $1,325,000Est. Mortgage $7,274/mo*3 Beds2 Baths 1092 Sq. Ft. Description about this home for sale at 4028 Ocean Drive #2, Avalon, NJ. 08202 A beautiful wide beach awaits just 2 blocks away from this completely renovated 2nd floor unit. 3 bedroom, 1.5 …
Sep 01
Jersey Shore / Avalon Home – 2310 Dune Dr. Avalon, NJ. 08202
Listing courtesy of Janet Bogorowski – COMPASS RE – AV Dune $1,675,000 Est. Mortgage $9,912/mo*3 Beds3 Baths1688 Sq. Ft. Description about this home for sale at 2310 Dune Dr. Avalon, NJ. 08202 Luxury living in the heart of Avalon! Fabulous three-bedroom, three-bathroom two-story townhome style condominium within walking distance of shopping, dining, beaches and bay. …
Aug 31
Mortgage Rates Rocket Back Above 5%, But Market ‘Stabilizing’
Mortgage Rates Rocket Back Above 5%, But Market ‘Stabilizing’ Home buyers are having difficulty gauging opportunities to save on a property purchase as mortgage rates become more volatile. The average for the 30-year fixed-rate mortgage swung above 5% again this week, clocking in at 5.22%, Freddie Mac reports. Last week, the average for the 30-year …
