Uncategorized Showings Aren’t Following Typical Seasonal Slowdown   Real estate’s typical seasonal slowdown isn’t happening this year. Sales remain high and lookie-loos are still out in force. ShowingTime, a residential real estate showing managing and market stats tech provider, reports “surprising” home buyer activity particularly in the Midwest and South regions during October. Big Markets like the Bay Area, CA. , Los […]
Uncategorized Inflation Drives Mortgage Rates Over 3% The 30-year fixed-rate mortgage was back above 3% this week, and economists believe rates will continue to increase over the next few months. “The combination of rising inflation and consumer spending is driving mortgage rates higher,” says Sam Khater, Freddie Mac’s chief economist. “Shoppers looking to buy a home are fueling a strong demand while […]
Uncategorized Housing Markets With Largest Surge in Cash Sales All-cash purchases rose to their highest level since the first quarter of 2015, according to a new report released by ATTOM Data Solutions, a real estate data firm. All-cash purchases comprised 34% of all single-family house and condo sales in the third quarter. In some markets, all-cash transactions represented more than half of sales. Cash […]
Uncategorized Homes Continue to Sell at Record Speeds Home buyers are still snatching up homes at a quick pace. Homes sold more quickly in October than in any October in recent history, according to realtor.com®’s Monthly Housing Report. The typical home spent just 45 days on the market in October, reaching an eight-month streak of homes selling faster than in any month before […]
Uncategorized Millennials to Keep Housing Strong for Years to Come   Expanding wealth and growing families are prompting more millennials to become homeowners. Ultra-low mortgage rates are continuing to attract them as well. Young adults ranging from 26 to 41 years old comprise about 22% of the U.S. population. It’s why the housing market has been watching this age segment so closely for so long. […]
Uncategorized Study: Property Values Fall 30% From Poor Landscaping   A new study aims to put into perspective the impact curb appeal can have in a home sale. An Oct. 13 study by Trees.com shows property values can decrease by up to 30% due to poor landscaping alone. The website surveyed 1,250 real estate professionals for its study. Seventy-eight percent of real estate professionals say […]
Uncategorized Why This Fall Is a Big Opportunity for Buyers The housing market has been fiercely competitive over the last few months, but hopeful buyers who keep getting shut out may soon find better luck. Several signs in the housing market point to a potential opening to buy this fall, housing analysts say. For one, competition is reportedly cooling and listings are receiving fewer offers. […]
Uncategorized Inventory Hits 2021 High, Competition Remains Fierce Home buyers are finding more housing selections this fall, but they’re still up against some serious competition. Nearly one-third of the 50 largest metros saw increases in the number of newly listed homes compared to last year, according to a new report from realtor.com®. “This September, buyers had more options than they’ve had all year […]
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Uncategorized What Americans Will Sacrifice to Buy a Home Most Americans want to own a home at some point in their life, and they say they’re willing to make sacrifices to achieve it. For some, that means forgoing alcohol or vacations for a year to save. But others say they’re willing to give up having kids in order to have their dream home. About […]
Uncategorized What to know when buying raw land or vacant lots with approved architectural plans So you want to build a house from the ground up? Buying a vacant lot is merely the beginning of an intensive process requiring foresight, the patience of a monk and a reliable team of experts to lean on. Even if the list price includes approved architectural plans and the necessary entitlements, the undertaking still […]
Uncategorized Bidding Wars Reach Their Lowest Level This Year Competition for homes on the market is lessening, which could provide an opening for home buyers who have been losing out amid this year’s bidding wars. In August, about 59% of offers on homes written by Redfin agents faced competition, which is a record low for this year and the lowest level since 2020, according […]
Uncategorized Mortgage Demand Hits Two-Month Low   Another sign the housing market may be cooling: Loan applications for home purchases—a gauge of housing demand—are now 18% lower than a year ago, the Mortgage Bankers Association reported Wednesday. More listings are coming on the market, offering home buyers more choices. But some potential buyers are still getting priced out. Home prices are […]
Uncategorized Will Bay Area Sales Momentum Will Carry Into Fall?   Will bidding wars continue? Will home prices stay elevated? Will home buyer demand remain strong? Heading into the fall season, economists are optimistic about the market’s direction considering its unpredictability since the beginning of the pandemic. For the most part, they agree it won’t be a return to the usual slowing pace of sales […]
Uncategorized Drop in Lumber Prices Could Save $40K Per Home, But… Doug Yearley, CEO of the luxury home builder Toll Brothers, told CNBC that the recent drop in lumber prices is prompting some significant savings on the cost to build a home—but home buyers shouldn’t expect to see those savings. While lumber prices are falling, other material costs to build are surging. Lumber prices reached a […]
Uncategorized Do Fences Boost Curb Appeal? Another sign of the pandemic’s influence on home renovations is the increased construction of fences. Here are seven factors homeowners should consider before installation.   Key Takeaways: Homeowners must look up municipal regulations before installing a fence. Latticework and horizontal boards are popular contemporary fence styles. Darker, neutral-colored fencing can make a garden pop and […]
Uncategorized Property Taxes Are About to Rise Skyrocketing home prices over the last year may soon hit current homeowners in the form of property taxes. Housing experts are predicting property taxes to climb higher in 2021 than the 4% uptick in 2020. Many city governments lost revenue during the COVID-19 pandemic and, as reassessments kick in, homeowners may be faced with a soaring […]
Uncategorized Mortgage Giant Will Soon Accept Bitcoin Payments   United Wholesale Mortgage, the second largest mortgage lender in the U.S., announced it will accept cryptocurrency for home loans by the end of this year. UWM wants to be the first lender to do so in the national mortgage industry. “We’ve evaluated the feasibility, and we’re looking forward to being the first mortgage company […]
Uncategorized Fewer Bidding Wars May Open Door to Some Buyers The competition in the housing market is showing some signs of easing. More markets are reporting price cuts and fewer bidding wars. That may open the door to some priced-out home buyers this fall. Sixty percent of offers written by real estate professionals nationwide faced competition in July, the lowest level since January, according to an […]
Uncategorized Shopping Malls See Major Rebound in Foot Traffic U.S. shopping malls are seeing foot traffic return to pre-pandemic levels. Real estate observers are calling it a surprising rebound. Indoor shopping malls have suffered since the start of the pandemic as consumers favored outdoor venues and e-commerce. But this summer, mall foot traffic started to return, according to new data from Placer.ai, which reflects […]
Uncategorized Nearly 900 Homes, Buildings Destroyed in Historic Blaze California’s largest single wildfire on record continues its long trail of destruction in the northern part of the state, scorching an area more than twice the size of New York City. Nearly 900 homes have been destroyed since the Dixie Fire began in mid-July. A historic Gold Rush town in Greenville has mostly been destroyed. […]