As housing inventory increases and home prices begin to ease, the door to homeownership is opening for more buyers. But Freddie Mac economists aren’t optimistic that the real estate market will be able to break even with last year’s sales levels.In their September forecast, Freddie's economists point to a booming economy and job market, but point out a stalled housing market. They consider the main factors to be weaker housing affordabilit
Tom Ferry’s five step plan to finish the year strong--and start the new year even strongerIf you want to finish 2018 strong and make 2019 your best year ever, I’ve got five actions to help you crush Q4.Start by downloading your business plan bundle to help set your goals and determine the actions needed to achieve them!Step one: decide what you wantWhat do you want your business to look like when January 1 arrives? Specifically:How many esc
The fall season is cooling down more than the temperature outside; it's also putting a much-needed chill on hot housing markets, where home prices have become unaffordable to the average buyer. More than one in four home sellers dropped their asking price last month, according to a new report by real estate brokerage Redfin. With inventory starting to inch up, sellers are facing stiffer competition in the market and adjusting their price expectat
Home shoppers are unwilling to negotiate on certain amenities, and prime among them are central air conditioning and a private patio or backyard, according to a new survey of more than 1,000 homeowners conducted by remodeling site Porch.com. On the other hand, prospective buyers are less likely to consider stainless steel appliances or a swimming pool as deal-breaking must-haves.Renters and homeowners differ quite a bit in their priorities, the s
Median home prices in cities with the highest risk of natural hazards have increased an average of 40 percent over the last 10 years, according to ATTOM Data Solutions’ 2018 Natural Hazard Housing Risk Index. That compares to an average increase of 24 percent in home values nationwide over the same time period. ATTOM Data Solutions tracked the risk of natural disasters, such as earthquakes, floods, hail, hurricane storm surges, tornadoes, and w
With home prices mostly holding to an upward trend, more owners are facing rising mortgage costs. But even so, homeowners are still paying less in mortgage payments than they did in 2006 and 2007, when mortgage costs peaked, according to research from real estate data firm CoreLogic.The typical mortgage payment nationwide in June rose 15.1 percent year over year, according to the report. On a metro level, increases in mortgage payments ranged fro
Vinyl siding and stucco were the most common exterior materials used on new homes last year, according to the Census Bureau’s Survey of Construction report. Vinyl siding was used on 27 percent of new homes in 2017, followed by stucco at 25 percent, brick or brick veneer at 21 percent, and fiber cement siding at 20 percent. Stone, rock, or other stone materials were used on just 1 percent of homes.The materials used can vary quite a bit by regio
Over the past 12 months, agents credited social media for bringing them the highest number of quality leads, topping other methods such as their MLS sites, brokerage websites, and listing aggregators, according to the National Association of RELATORS®’ 2018 Technology Survey, a survey of more than 2,500 real estate professionals.Many real estate pros cite social media as offering some of the highest quality leads. But they aren’t quite in
It’s common advice to freeze your credit information when cybersecurity breaches potentially put your personal financial data into the hands of criminals who seek to exploit it. However, the three major credit-reporting agencies have routinely charged a fee to put that credit freeze in place—except in the handful of states that forbid such payments. Now all of that has changed.A federal law signed in May by President Donald Trump requires cre
For the fourth consecutive week, mortgage rates continued to climb as home buyers face higher borrowing costs.“Mortgage rates are drifting upwards again and represent continued affordability challenges for prospective buyers—especially first-time buyers,” says Sam Khater, Freddie Mac’s chief economist. “Borrowing costs are moving right now for three main reasons: the very strong economy, higher U.S. government debt issuances, and global
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