FHFA Raises Fees on High-Balance Second-Home Loans The Federal Housing Finance Agency announced it would be increasing upfront fees on second-home mortgages and on mortgages that finance homes with balances that exceed standard conforming loan limits. The fees are expected to increase the purchase cost of second homes and homes in high-cost areas. The …
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Jan 05
Moving Companies Struggle to Keep Up
Moving Companies Struggle to Keep Up Seventy-one percent of moving companies reported delays in 2021, blaming high demand and a labor shortage, according to a new survey of 63 moving firms conducted by moveBuddha, a moving company resource. Buyers planning a move will want to plan ahead. Nearly half of companies are booked out at …
Jan 05
Higher Mortgage Loan Limits Take Effect
Higher Mortgage Loan Limits Take Effect Conforming loan limits for mortgages backed by Fannie Mae and Freddie Mac have jumped in most of the country to $647,200, an increase of $98,950 from 2021’s limit of $548,250. The higher levels are in response to rising home prices over the past year. The new loan limits …
Jan 04
Year-End Mortgage Rates at 3.11%
Year-End Mortgage Rates at 3.11% Mortgage rates stayed low for the final week of 2021, but housing analysts largely predict rates will be heading up in the coming weeks. “Mortgage rates have been effectively been moving sideways despite the increase in new COVID cases,” says Sam Khater, Freddie Mac’s chief economist. “This is because …
Jan 04
Where Did People Move to in 2021?
Where Did People Move to in 2021? Long-distance, state-to-state moves saw an increase this year, according to new U.S. Census Bureau data. Some states came out clear winners as they gained more new residents over the year. MoveBuddha analyzed more than 400,000 relocation queries in 2021 to compile its 2021–2022 moving migration report to …
Jan 03
Property Tax Appeals May Be Less Successful in 2022
Property Tax Appeals May Be Less Successful in 2022 Homeowners who face rising property taxes are often tempted to appeal. But in 2022, The Ascent, a Motley Fool publication, says that homeowners may not be as successful at lowering their bills as they may have in the past. To be successful in a tax appeal, …
Jan 03
Handling Low Inventories, Helping Agents Thrive
Handling Low Inventories, Helping Agents Thrive Brokers were busy helping to prepare their agents to navigate a competitive housing market in these top-read articles of 2021 at REALTOR® Magazine. Prepare buyers for steep competition and what they may need to include in their offer. As kitchens get a robust workout due to more people cooking and …
Dec 29
First-Time Buyer’ Season 2 Out Now
‘First-Time Buyer’ Season 2 Out Now The second season of “First-Time Buyer,” which shows REALTORS® guiding their clients on their home buyer journey, is now available to stream on Hulu. The show is produced by the National Association of REALTORS®. The eight-episode season follows a different couple, family, or individual through the process of buying …
Dec 28
Home Flipping Is Still Booming
Home Flipping Is Still Booming More single-family and condo homes were flipped in the third quarter compared to the second quarter. Home flips accounted for 5.7% of home sales in the third quarter, according to the Q3 2021 U.S. Home Flipping Report released by ATTOM Data Solutions. But while flipping activity is edging higher, …
Dec 28
Beware of Homes That Smell Too Clean
Beware of Homes That Smell Too Clean Beware of a home that smells too clean. That warning comes from a real estate agent who posted a recent TikTok video, under her username @capecchiandco, that has since gone viral and been widely covered by the media. She shared how a bleach smell can be a red …
Dec 27
Bidding Wars Drop
Bidding Wars Drop Home buyers may be facing less competition, but they are also finding fewer homes for sale. In November, 59.5% of home offers written by Redfin real estate professionals reported facing competition, the lowest in 11 months, according to Redfin’s competition index. That’s a sharp drop from the 74.6% peak reached in April. …
