Home buyers saw mortgage rates edge lower again this week, with rates remaining well below year-ago levels. “Modestly weaker consumer spending and manufacturing data, along with continued jitters around trade policy, caused interest rates to decline throughout the yield curve,” said Sam Khater, Freddie Mac’s chief economist. “While signals from the financial markets are flashing caution signs, the real economy remains on solid ground wit
Political divisiveness on Capitol Hill likely will prevent Congress from passing legislation this year addressing important tax initiatives that affect real estate, including the state and local tax (SALT) deduction and an extension of the Mortgage Forgiveness Debt Relief Act, lobbyists for the National Association of REALTORS® said Wednesday.Speaking to the association’s Federal Taxation Committee during the REALTORS® Legislative Meetings &a
Real estate pros may be smart to carve out a new-home niche in the Dallas-Fort Worth, Texas, region. The metro area saw the highest number of new-home construction in the first quarter, according to new data from Metrostudy Inc.Home construction in the metroplex totaled more than 34,500 units on an annualized basis, topping Houston’s 30,206. Central Florida was third in construction, with about 28,000 homes last year.Metrostudy says that housin
As house hunters continue to head online to begin their search, more real estate professionals are upping their tech use to meet them there.REALTORS®’ web presence and use of social media have been increasing in recent years, and they consider it a valuable marketing tool to reach clients and build online communities, according to the 2019 Member Profile, released by the National Association of REALTORS® and reflecting 12,700 member resp
The House voted Tuesday to extend the National Flood Insurance Program through Sept. 30. The Senate must also approve the measure before May 31—when the NFIP is set to expire—to avoid lapses in government-backed flood insurance policies. “Thanks to REALTORS®, the Senate is well aware of the deadline for flood insurance,” Austin Perez, senior policy representative at the National Association of REALTORS®, said Tuesday at the REALTORS® L
Photos of a home in Buda, Texas, are drawing widespread attention across social media. It’s the home’s unusual hand-painted and very pink interior decor that has drawn the attention.The owner, Melissa Stephenson, told FOX 7 in Austin, Texas, that the home is filled with hand-painted “joy.” Poodles, polka dots, and hearts decorate the walls of the four-bedroom, two-bath ranch-style home. The owner and her husband are selling the house
Landlords and property managers are entitled to “reliable verification” of a tenant’s need for a service animal and can require proof beyond an online certification, a Department of Housing and Urban Development official said Tuesday at the REALTORS® Legislative Meetings & Trade Expo in Washington, D.C.Lynn Grosso, director of HUD’s Fair Housing and Equal Opportunity Enforcement Office, told the Land Use, Property Rights & Enviro
Homeowners continue to see home values increase, along with their equity. Metro home prices nationwide saw an increase of nearly 4% in the first quarter. The national median existing single-family home price was $254,800 in the first quarter, the National Association of REALTORS® reported Tuesday.Single-family home prices rose in 86% of measured markets in the first quarter; 13 metro areas saw double-digit increases.“Homeowners in the majority
About David A lifelong resident of Newport Beach, David McHone offers clients an insider’s perspective on the area that’s difficult to top. Just as importantly, he offers an unmatched level of firsthand expertise when it comes to the sale and purchase of property—an avid investor, he’s got a personal portfolio that currently includes upwards of 40 properties. What’s more, as a contractor who builds luxury properties of all types, he h
Those wanting to spruce up a home may need to add more money to their budget. Builders and contractors are warning that new tariffs on Chinese goods will add $2.5 billion in added costs to the home remodeling industry, and those extra costs will be passed on to customers.Tariff costs on Chinese imports jumped from 10% to 25% on May 10, which builders say will increase the cost of about 450 goods used by the home building industry, such as counter
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