Real Estate News
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...
Cash-Flush Buyers Dip into Distressed Commercial RE
Some data shows that global real estate funds operated by private-equity firms held $544B in cash at the end of 2Q 2023, up from $457B at the end of 2Q 2022. NEW YORK – Regional banks and other lenders have grown concerned about the volatility in commercial real estate, but investors...
Raise Credit Score to Better Mortgage Rates
Buyers with good credit scores have a better chance at lower mortgage rates. Here are some tips for improving those scores. NEW YORK – If you intend to buy a new home, or if you intend to take out a loan in the near future for any other reason, you obviously...
Homeowners Staying in Their Homes Longer
A new Redfin report found homeowners are staying in their homes twice as long as they did in 2005, driven largely by older Americans. SEATTLE— Baby boomers and Gen Xers, more than other generations, are staying in their homes up to 20 years, far exceeding the typical 11.9 years most U.S....
Is an Assumable Mortgage Right for You?
Assumable mortgages are growing in popularity but come with challenges, the Wall Street Journal reported. NEW YORK -- Buyers can get a 3% mortgage if they assume a mortgage from a seller with a loan backed by the Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA), but the...
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