Real Estate News
Mortgage Rate Declines for Second Week
Borrowing costs for average 30-year U.S. mortgages and 15-year fixed-rate mortgages dropped Thursday to levels seen in early February. LOS ANGELES — Home loan borrowing costs fell for the second week in a row, pulling the average long-term U.S. mortgage rate to its lowest level since early February — good news...
How Sellers Get Top Dollar for Their Homes
Sellers should not rely on the market alone to get their asking price. Instead, strategies including good staging and value-added improvements increase the chances for getting top dollar. NEW YORK – The process of buying and selling a home includes many movable parts. North America has experienced historic trends in the...
When Will Mortgage Rates Fall?
Mortgage rates are likely to remain stagnant until there are signs the economy is slowing. NerdWallet writer Holden Lewis said that’s not likely to happen in March. NEW YORK – Mortgage rates are expected to go down sometime in 2024, but the decline probably won't start in March. Instead, mortgage rates...
Single-Family Starts to Rise in 2024
Economists at International Builders’ Show: Construction should gradually increase as the Fed is on track to cut rates during 2024’s second half with inflation slowing. LAS VEGAS – While higher interest rates pushed single-family starts down in 2022 and 2023, production should move on a gradual upward path in 2024 as...
Understanding the Basics of RE Property Appraisals
A property appraisal is needed when mortgage financing is used to buy residential real estate. It acts as a market value reference point for buyers and current owners. KEY BISCAYNE, Fla. – A property appraisal is needed any time mortgage financing is used to purchase residential real estate. Often, an appraisal is...
What Are Benefits of Energy-Efficient Homes?
Homebuyers say energy-efficient features are home “must-haves” because they save money, improve resale value and help people lead healthier lives. WASHINGTON, Penn. – Consumer efforts to be more eco-conscious are more and more noticeable. For proof of that, one need look no further than the increase in vehicle charging stations. Such...
Wall Street Sees a Solid Year for Homebuilders
Sales of new homes rose nationally in 2023 for the 1st time in 2 years, up 4.2% from the previous year. However, fluctuating mortgage rates remain a wild card. LOS ANGELES (AP) – Housing market trends are shaping up in favor of a solid 2024 for U.S. homebuilders – as long...
NAR: Jan.’s Existing Home Sales Up 3.1% from Dec.
Total existing sales slipped 1.7% year-over-year. Chief Economist Yun: Jan.’s “monthly gain is the start of more supply and demand.” Listings were modestly higher. WASHINGTON – Existing-home sales grew in January, up 3.1% from December, according to the National Association of Realtors®. Total existing home sales – completed transactions that include single-family...
Rentals Could Be a New Business Niche
In a tight home sale market, real estate pros may want to develop relationships with a network of renters, who might become homebuyers in the future. CHICAGO – With tight home sale markets, real estate professionals may want to consider tapping the rental market for business. The National Association of Realtors (NAR)...
Wait, What? Things Are Looking Up for Homebuyers?
Buyers have had it rough, but some experts think 2024 will see improvement in mortgage rates, home prices and availability of both new and existing homes for sale. SAN FRANCISCO – You feel demoralized about the housing market, right? Hold on. After a grim 2022 and 2023, it looks like 2024...
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