Home buyers are bringing more money to the closing table. The median down payment on single-family homes and condos purchased with financing in the third quarter was $20,250—up 7 percent from the previous quarter. The median down payment as a percentage of the median home sales price was 7.6 percent in the third quarter—the highest percentage since the fourth quarter of 2003, according to ATTOM Data Solutions, a real estate data provider.Amon
The Federal Housing Administration has announced that most of the country will see an increase to loan limits in the new year. The loan limit for lower-cost areas will be set at $314,827—or 65 percent of the national conforming loan limit of $484,350. In high-cost areas, the new FHA limit for 2019 will increase to $726,525, up from $679,650. The new loan limits will take effect Jan. 1.The FHA sets single-family forward loan limits at 115 perc
The U.S. saw a 0.3 percent increase in homelessness this year, marking the second consecutive year for such an uptick, according to the U.S. Department of Housing and Urban Development’s annual report to Congress. The uptick comes at a time when unemployment is nearly at a 50-year low and incomes are on the rise. “There is a critical shortage of affordable rental housing in every jurisdiction across the country,” Barbara Poppe, an official
Tom Ferry’s best advice to conquer the new year – even in a changing market Volatility in the market doesn’t mean you need to lower your expectations. I’m a firm believer that 2019 will be full of opportunity and can be your absolute #BestYearEver.If you agree, I’ve got six steps that should form the foundation of your success over the next 13 months.Set a meaningful goalSuccess starts with having something to aspire to.Without a goal i
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Home shoppers and refinancers saw some relief in mortgage borrowing costs this week. The 30-year fixed-rate mortgage moved to its lowest average since mid-September, Freddie Mac reports.“Mortgage rates have either fallen or remained flat for five consecutive weeks and purchase applicants are responding with an uptick in demand given these lower rates,” says Sam Khater, Freddie Mac’s chief economist. “While the housing market softened in r
Home sellers may need to get more realistic heading into the new year with signs of a slowing housing market. As for home shoppers, they may find more deals. Seventy-seven percent of current listings will likely sell below the original list price in the first quarter of 2019, according to a new forecast released by Knock, an iBuyer company that offers home sellers instant cash offers on their home.The company analyzed on-market listings in the la
The biggest pest of 2018? Bedbugs.The second annual Terminix Entomologists’ Almanac took a look at the biggest pest trends from the past year based on social media chatter and internet queries. Bedbugs clinched the title for the second year in a row.Americans searched for information about bedbugs more than 6.7 million times this year—more so than any other pest. Terminix, a national pest control company, says it has seen a steady increase
Sending holiday cards to your sphere might be a more valuable prospecting tool than you think. According to a survey from reference-checking firm Allison & Taylor, approximately half of holiday card recipients indicate they’re more likely to do future business with the company or individual who sends holiday greeting cards. In today’s digital age, the gesture of writing and sending cards is significant.Follow these guidelines to help ens
For the second consecutive year, REach―the growth technology accelerator operated by the National Association of REALTORS®’ strategic investment arm, Second Century Ventures―has been named one of the top accelerators in the country by the U.S. Seed Accelerator Rankings Project. The rankings were compiled by researchers from MIT, Rice University, and the University of Richmond in Virginia. Researchers evaluated hundreds of programs that mar
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