Demand Doubles for ARMs The share of mortgage applications with adjustable-rate mortgages doubled last week when compared to three months ago, the Mortgage Bankers Association reported Wednesday. ARMs, which start at one rate and then fluctuate after a set period, comprised more than 9% of loans and 17% of the dollar volume. ARMs were blamed …
Tag: tips
Apr 29
Is a Calmer Market Coming?
Is a Calmer Market Coming? The housing market is showing some early signs of normalizing. Contract signings dropped in March, the fifth consecutive month that pending home sales have fallen, the National Association of REALTORS® reported Wednesday. The Northeast was the only major region of the U.S. that saw a monthly increase in contract signings. …
Apr 28
Closing Costs – What you need to know…
What are closing costs? Learn more about closing costs below! With the help of myself and Katy Sychterz of RoundPoint Mortgage, (NMLS# 183951 – 484.534.5107) we can explore homebuying options to help you meet your goals. #RealEstate #Realtor #HomePurchase #BuyersMarket #PlymouthMeetingRP
Apr 27
More Homes Tout Green Features
More Homes Tout Green Features Real estate professionals are finding it’s important to become more familiar with the “green” in their housing market as more clients show greater interest and more sustainable properties hold perceptions of being more valuable. Half of more than 2,500 REALTORS® recently surveyed say they’ve recently helped a client buy or …
Apr 27
Home Buyers Are Still Hopeful
Home Buyers Are Still Hopeful Home prices remain high and mortgage rates are rapidly rising, but home buyers are still hopeful about this spring. A new survey from OJO Labs, a real estate search site, shows that at least half of buyers believe the next three months will be a good time to buy a …
Apr 26
Multiple Offers Remain Prevalent This Spring
Multiple Offers Remain Prevalent This Spring Home sellers are still fetching multiple offers on their properties and buyers continue to face competition, even as the housing market has shown some signs of slowing. REALTORS® reported an average of nearly five offers on each home that sold in March, according to the March REALTORS® Confidence Index …
Apr 25
New-Home Projects Jump 47%
New-Home Projects Jump 47% New-home buyers are having a long wait for their homes to be done. Labor shortages and global supply chain bottlenecks are delaying the completion of many new-home construction projects. The number of housing units that were authorized but didn’t start construction yet rose by 47% nationwide from 2019 to 2021, according …
Apr 25
Foreclosure Activity at New High Since the Pandemic Began
Foreclosure Activity at New High Since the Pandemic Began Foreclosure starts and bank repossessions are at their highest numbers in the last two years. Most pandemic-initiated moratoriums have lifted by now and lenders are starting to resume foreclosures. Still, foreclosure activity remains well below historical levels. The number of properties with a foreclosure filing during …
Apr 21
What to expect during the loan process
Having a healthy credit score is important when getting pre-approved! Here is what to expect when applying for a mortgage. With the help of myself and Katy Sychterz of RoundPoint Mortgage, (NMLS# 183951 – 484.534.5107) we can explore homebuying options to help you meet your goals. #RealEstate #Realtor #HomePurchase #BuyersMarket #PlymouthMeetingRP
Apr 20
Home Buyers’ Top Regrets
Home Buyers’ Top Regrets About 70% of buyers recently surveyed say they have at least one regret about their homebuying experience, according to the “Buyer and Seller Insights Report for 2022” conducted by HomeLight, a real estate referral company. The biggest regrets: What they paid for their home and home maintenance. Twenty-two percent of buyers …
Apr 19
Sellers May Need to Consider Price Drops
Sellers May Need to Consider Price Drops Higher mortgage rates may soften demand this spring as worsening affordability prices more buyers out of the market. With mortgage applications down 6% from a year ago, sellers may need to be more realistic about how much they can ask for their property. An increasing number of listings …
Apr 19
Buyers Making Compromises to Find a Suitable Home
Buyers Making Compromises to Find a Suitable Home Over the past year, home buyers have faced steep competition, which has included fierce bidding wars. Inventory shortages and high demand have forced them to rethink their priorities when shopping for a home. Eighty percent of buyers say they’ve had to compromise on key home features, according …
