Millennials Could Prompt Condo Resurgence The average sale price of condominiums in 2019 was 16% lower than the average sale price of single-family residences, according to data from CoreLogic based on 25 of the largest housing markets. Those lower condo prices could make them a growing draw for millennials and first-time home buyers, CoreLogic …
Tag: tips
Aug 25
Credit tips when applying for a Mortgage
Credit tips when applying for a Mortgage. 1 – minimize credit inquires. 2 – Don’t establish new Credit. 3 – Leave unused credit alone. 4 – Seek advice before paying off past due balances. 5 – Hire and expert. 6 – Credit scores. Contact me for more information. Applying for a mortgage? …
Aug 25
Tips for Conducting a Kitchen Video Tour
Tips for Conducting a Kitchen Video Tour Video tours are a growing method to help home shoppers narrow their prospects during the pandemic. But not being able to see the home in person has its limitations. Real estate professionals will want to be sure they zoom in on the right features and offer insights to …
Aug 24
Most Profitable Places to Buy a Vacation Rental
Most Profitable Places to Buy a Vacation Rental As mortgage rates remain low and people look for pandemic-safe getaways, vacation homes are growing in demand, according to Vacasa, a vacation rental management platform. “We’ve seen a surge in demand for vacation homes across our portfolio, and real estate transactions are up as much as 35% …
Aug 21
Home Prices Jump in Rural Areas
Home Prices Jump in Rural Areas It’s hot to live in the country. Housing markets in less densely populated areas are seeing a surge in interest as the pandemic prompts more Americans to social distance. Nationwide, homes in rural areas saw median sales prices increase 11.3% year over year in the four weeks ending Aug. …
Aug 20
Moratoriums Keep Foreclosures Nearly Nonexistent
Moratoriums Keep Foreclosures Nearly Nonexistent Even as mortgage delinquencies climb, foreclosure activity continues to be low. Foreclosure moratoriums ordered by federal and state governments during early phases of the pandemic likely helped to minimize the foreclosure rate, says Rick Sharga, executive vice president at RealtyTrac, a real estate data firm. “It’s inevitable that there …
Aug 19
Mortgage Rates Stay Below 3% This Week
Mortgage Rates Stay Below 3% This Week Mortgage rates inched up slightly this week but still remained near historical lows. The 30-year fixed-rate mortgage averaged 2.96% this week, up from last week’s record low of 2.88%, Freddie Mac reports. “Home buyer demand remains strong, especially for those in search of an entry-level home, where the …
Aug 18
Refinancing Fee Could Roil Mortgage Market
Refinancing Fee Could Roil Mortgage Market The Federal Housing Finance Agency has announced a new mortgage refinancing fee that could cost homeowners about $1,500 extra on a $300,000 loan. The fee will apply to loans delivered to Fannie Mae and Freddie Mac starting Sept. 1, which means it could impact current refinancing applications. The fee …
Aug 17
Listings Climb for the First Time Since the Pandemic’s Start
Listings Climb for the First Time Since the Pandemic’s Start Buyers are finding greater selection in their house hunt as new listings increase above pre-pandemic levels, according to realtor.com®’s latest Weekly Recovery Report, reflecting the week ending Aug. 8. The increase in new listings now brings all four major components of housing activity tracked on …
Aug 14
Ways to Improve Chances of a Favorable Appraisal
Ways to Improve Chances of a Favorable Appraisal Appraisal issues can be common hangups in a real estate transaction. In June, appraisal issues were blamed for causing delays in 18% of transactions (the second highest reason behind issues related to obtaining financing) and for terminating 9% of contracts, according to the REALTORS® Confidence Index. While …
Aug 13
Most Popular Home Updates During the Pandemic
Most Popular Home Updates During the Pandemic Many Americans turned their attention to their homes during the pandemic. Home improvement big-box retailers reported a swarm of traffic as homeowners looked to spruce up their nests while sheltering in. What were homeowners working on? Outdoor spaces were fueling much of the demand, according to Houzz, …
Aug 12
Home Prices Rise, More Owners Become ‘Equity Rich’
Home Prices Rise, More Owners Become ‘Equity Rich’ Despite the pandemic, home values continued to climb in the second quarter, with 15.2 million residential properties in the U.S. considered “equity rich,” according to a new report from ATTOM Data Solutions, a real estate data firm. That means the combined estimated amount of loans secured by those …
