Newer Homes Are Coming to Market the Fastest Builders are building more, even though overall housing inventories still feel tight. Builders in April constructed about 24% more homes than they did in April over the last couple of decades, the National Association of REALTORS® reports. Housing starts are likely to reach 1.6 million for all …
Tag: tips
Jun 10
Inquiries on a House
Inquiries on a House Small-town homeowners say they’re fielding a growing number of inquiries about selling their homes, even though they aren’t for sale. Real estate speculators are approaching them asking if they’d be willing to sell. Chuck Vukotich told The Wall Street Journal that multiple times a week, he receives queries about his small …
Jun 09
Falling Office Rents Prompt Leasing in Smaller Markets
Falling Office Rents Prompt Leasing in Smaller Markets Office sectors in smaller markets are showing greater resiliency, and companies are taking notice. The only increases in office occupancies in the first quarter were in secondary cities, and even those were modest. These secondary markets are known for having cheaper office rents compared to major markets, …
Jun 09
First-quarter Refinancings Were Unusually High
First-quarter Refinancings Were Unusually High Mortgage refinance loans have more than doubled over the past year as homeowners rush to lock in historically low mortgage rates. Lenders refinanced about 2.55 million mortgages in the first quarter of this year, a 113% jump from the same time period in 2020, according to real estate research firm …
Jun 08
Pandemic Buyers Lowered Their Housing Costs
Pandemic Buyers Lowered Their Housing Costs About two-thirds of consumers who bought a larger home in a different city over the last year have the same or lower housing costs than before their move, according to a new Redfin survey. Seventy-eight percent of respondents say they have the same amount of disposable income or …
Jun 08
Paint Shortage Adds to Construction, Remodeling Woes
Paint Shortage Adds to Construction, Remodeling Woes Fewer paint products are hitting store shelves, resulting in shortages that could hamper summer home improvement projects. “Some of the most commonly used paints are out of stock,” Mike Marcewicz, founder of Mike’s Painting and Home Improvements, told Bay News 9 in St. Petersburg, Fla. COVID-19 restrictions …
Jun 07
Surging Home Prices Are Set for a Cooldown
Surging Home Prices Are Set for a Cooldown The U.S. median home price continued to post double-digit appreciation in May and reached a record high of $380,000, realtor.com® reports. But the rate of price growth has shown signs of slowing for the second time in 13 months (15.2% year-over-year in May compared to 17.2% annually …
Jun 07
Drone Use May Be on the Rise
Drone Use May Be on the Rise Real estate pros have increasingly been using drones to capture aerial photos and videos of their listings or even the interiors. New Federal Aviation Administration rules may even allow for greater use too. The FAA has recently eased some restrictions and expanded some drone rules by authorizing operations …
Jun 04
Builders Reporting Material Shortages Hits Record High
Builders Reporting Material Shortages Hits Record High The challenges to build a home continue to mount for the nation’s builders. Material shortages—such as for lumber, appliances, windows, and doors—are at the tightest levels in history, the National Association of Home Builders reports. About 90% of builders recently surveyed across the country reported shortages of appliances, …
Jun 04
Buyers’ Pets on Home Tours
Some home buyers are seeking their pets’ feedback as they tour homes for sale. Twenty percent of 1,000 U.S. adults surveyed by Ally Home in April said they bring their pets to look at homes. Women are more likely to bring their pet with them on a house hunt than men—24% versus 15%, respectively. “Purchasing …
Jun 03
Paint Violations Surge in Remodeling Boom
Paint Violations Surge in Remodeling Boom As home remodeling increases, the EPA is warning remodelers to take special precautions in older homes and watch out for lead-based paint violations. Lead-contaminated dust from chipped or peeling lead-based paint in homes built prior to 1978 is one of the most common causes of elevated blood levels of …
Jun 03
New Refi Program
New Refi Program Fannie Mae will launch RefiNow this week, which could help lower-income homeowners save hundreds of dollars a month on their mortgage payments. The program, which begins June 5, aims to help about 2 million homeowners lower the interest rates on their mortgages. Eligible homeowners could save an estimated $100 to $250 a …
