Existing-home sales dropped in February as tight inventory and weakening affordability conditions kept many buyers out of the market in most parts of the country, the National Association of REALTORS® reports. Total sales for existing single-family homes, townhomes, condos, and co-ops fell 3.7 percent to a seasonally adjusted annual rate of 5.48 million, compared to 5.69 million in January, according to the report. However, the pace of sales in
A lesser-known home loan may help your clients in the medical industry better afford a home purchase. Known simply as a "physician loan," these mortgages have less stringent credit and debt-to-income requirements than other loan products. They require down payments as low as 10 percent or less—even zero money down in some cases. They also don't require borrowers to pay private mortgage insurance.Why is their a mortgage targeting doctors, you as
The pace of construction is a major influence over whether housing prices remain affordable in a city, according to a recent article at Forbes.com. Between 2010 and 2016, an overall annual rise in national housing permits led to major metros issuing permits for projects "in the [high-$400,000 or low-$500,000] figures annually," according to Census data. But three metros stood above the rest: Dallas-Fort Worth-Arlington, Texas; New York-Newark-Jer
More borrowers are turning to shorter-term adjustable-rate mortgages as interest rates rise, but that may be a riskier move than your clients realize. While these mortgages offer lower interest rates, the rates reset after a certain preset time. Still, a five-year hybrid adjustable-rate mortgage averaged a 3.28 percent rate last week compared to 4.30 for the 30-year fixed-rate mortgage, according to Freddie Mac's weekly mortgage market survey.The
Researchers have long suspected a connection between falling home values and spikes in arson rates, but they've lacked strong supporting evidence. Now a new study in The Journal of Risk and Insurance claims there's proof that the theory is real.Michael Eriksen, assistant professor of real estate at the University of Cincinnati, and James Carson, a University of Georgia professor of insurance, pored over records of 4.8 million fires between 1986
Some real estate pros are finding it's a benefit to highlight gyms near the condos or homes they’re selling, just like you might do for a good school.The gym impact to values may be especially pronounced in luxury apartments. The percentage of listings of luxury apartments that contained the words “gym,” “weight room,” or “workout studio” increased to 11 percent in January 2016 compared to only 7.4 percent in 2010, according to data
If your listing has two master bedrooms, you may very well have a highly desired feature that many couples want in their next home and are willing to pay extra for.Among the top 10 percent of markets nationwide, active listings that include multiple master bedrooms are priced, on average, about 9 percent higher than those with just one master, according to a realtor.com® analysis.Luxury home builders are taking notice of the growth in demand. A
The Federal Reserve is finally taking more action to raise its short-term rates. Last week, it voted to raise the Fed funds rate by 25 basis points. That is expected to add pressure to mortgage rates, too. Many housing analysts fear that rising mortgage rates could further impact home affordability and lead home buyers to pause.However, Rick Sharga, executive vice president of Ten-X and former senior vice president at RealtyTrac, disagrees. He th
Besides staging, sellers also should take a few more steps to ease the stress of their sale. Realtor.com® offers up some of the following often-overlooked tips:1. Highlight improvements and any issues.“If you’ve owned your home for a while, make a list of all the problems you’ve solved for a while, make a list of all the problems you’ve solved while you’ve lived there,” suggests Avery Boyce, a real estate pro with Compass Real Estate
Reviews.com has compiled a thorough list of the best home security systems, based on studies and surveys entailing installation, customer reviews, costs, and reliability.Review.com’s analysis recognized the following brands in the following categories: Best for recognizability and professional installation: ADT Best technology and mobile app: Vivint Best for low upfront cost and initial phone call: Protect America Best for customer service and
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