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Pending Home Sales Tick Up

WASHINGTON (January 28, 2016) — Pending home sales were mostly unchanged in December, but inched forward slightly, fueled by a large increase in the Northeast that outpaced declines in the other three major regions, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, crawled 0.1 percent to 106.8 in December from a downwardly revised 106.7 in November and is now 4.2 percent above December 2014 (102.5). The index has increased year-over-year for 16 consecutive months... Read More

Mortgage Basics – the 101

A mortgage – a loan to finance the purchase of your home – is likely the largest debt you’ll ever take on. A mortgage is actually made up of several parts – the collateral you used to secure the loan, your principal and interest payments, taxes and insurance.Since most mortgages last 15 to 30 years of monthly payments, it helps to understand the working parts. Collateral When you agree to a mortgage, you’re signing a legal contract promising to repay the loan plus interest and other costs. Your home is collateral for that loan. If you don’t repay the debt, the lender has ... Read More

NAR HOME Survey: Desire to Buy Strong Despite Affordability, Economic Concerns

WASHINGTON— Although only half of surveyed households believe the economy is currently improving, nearly all young renters eventually want to buy a home, and a convincing majority still view homeownership as part of their American Dream, according to a new quarterly consumer survey released today by the National Association of Realtors®. Additionally, a newly-introduced index tracking the financial outlook of households found that compared to earlier this year an increasing share believes their personal financial situation will improve in the months ahead. NAR's inaugural quarterly house... Read More

Homeowners Reap Remodeling Benefits Whether Selling or Staying, Say Realtors®

 WASHINGTON— Homeowners preparing to sell often make improvements, both big and small, to their homes that can help yield positive results and garner top dollar from buyers. According to a new report from the National Association of Realtors®, remodeling projects can also bring major benefits to homeowners who choose to remain in their homes. "Realtors® know that certain home upgrades and remodels can be beneficial to get more buyer eyes on a property, potentially bring in more offers or gain more equity from a home," said NAR President Tom Salomone, brok... Read More

The Top Home Decor Resources Online

Learning from the Web There’s a wealth of architecture and design information online that you can share with your clients. But how do you know which site is best for them? We curated these ten so you can help buyers and sellers find the right one for their design challenge, budget, location, and web experience preferences. In the not-so-distant past, home owners may have had difficulty imagining if a listing could work for their needs. Maybe they wanted four bedrooms, and an otherwise perfect house only had three. How could they carve out another sleeping space for a reasonable price? Or... Read More

How High Will Mortgage Rates Actually Climb?

DAILY REAL ESTATE NEWS | The lowest mortgage rates on record have lured buyers during the last few years, but the Federal Reserve has already given plenty of signals that will soon come to an end. Read more: Rising Mortgage Rates May Spark Buying Frenzy Mortgage rates are already inching up, ever-so-slightly. From January to June, the 30-year fixed-rate mortgage climbed from 3.7 percent to 4.2 percent. Mortgage rates recently have been hovering around 4 percent. In this latest era of super-low mortgage rates, what’s normal? A 6 percent interest rate is “normal,” says Jonathan Smo... Read More

Existing-Home Sales Rise in June 2015, as Home Prices Surpass July 2006 Peak

WASHINGTON (July 22, 2015) — Existing-home sales increased in June to their highest pace in over eight years, while the cumulative effect of rising demand and limited supply helped push the national median sales price to an all-time high, according to the National Association of Realtors®. All major regions experienced sales gains in June and have now risen above year-over-year levels for six consecutive months. Total existing-home sales 1, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 3.2 percent to a seasonally adjusted... Read More

5 Housing Market Predictions

It’s a new year—and the outlook on the housing market is definitely brighter. After all, 2014 was the best year in the U.S. economic recovery since the recession of 2008-2009. With an accelerating economic recovery fueling job and income growth, prospects are good for homeowners and would-be home buyers. 1. Mortgage Rates Will Head Back Up The flip side of the improving economy is that (sigh) mortgage rates will inevitably head up again. We’ve had a great run, but the honeymoon is over, and it’s time to settle in for a relationship that balances job growth with higher-but-still-re... Read More

2 Common Mortgage Deal Delays

DAILY REAL ESTATE NEWS A last-minute problem with financing can quickly delay a closing on a home sale. Here are two of the most common financing problems that can surface: Failure to disclose key financial information. One of the biggest reasons for a financial issue is the failure of the buyer to disclose key financial information, The New York Times reports. Buyers who are not forthright about their financial circumstances can face a delay. Lenders will quickly find borrowers who are behind on child support obligations or real estate taxes, for example. Running up credit as a mortgag... Read More

All-Cash Sales Make Up Fewer Transactions

DAILY REAL ESTATE NEWS | WEDNESDAY, AUGUST 19, 2015 Fewer buyers are paying all cash for real estate. The percentage of cash sales now matches the lowest share since 2009, comprising 22 percent of existing-home sale transactions in June, according to the National Association of REALTORS®. A year ago, the percentage of all-cash sales from existing-homes stood at 32 percent. Cold Cash Cools Off Cash Sales Are Weakening Here’s Where Buyers Are Paying All-Cash Dwindling Competition for Home Buyers? Individual investors tend to account for the bulk of cash sales and purchased 12 percent ... Read More