Real Estate Blog

Home buyers, sellers have had enough of high prices

HomeMarket Update by Steve Randall08 Aug 2018 Home buyers, sellers have had enough of high prices

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A measure of sentiment in the housing market has dropped for the second straight month.

Fannie Mae’s Housing Purchase Sentiment Index was down 4.2 points in July to 86.5 after declining in June but reaching record highs in April and May.

And it’s not just buyers that are tiring of a lack of inventory and

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The U.S. Housing Market Looks Headed for Its Worst Slowdown in Years

     

In this photo made on Wednesday, Sept. 10, 2014, signs welcome visitors to a model home as construction is under way at a housing development in Zelienople, Pa.© Keith Srakocic/AP Photo In this photo made on Wednesday, Sept. 10, 2014, signs welcome visitors to a model home as construction is under way at a housing development in Zelienople, Pa.They were fed up with Seattle’s home bidding wars. They were only in their late 20s but had already lost two battles and were ready to renew with their landlord. Then, in May, their agent called.

Suddenly, Redfin’s Shoshana Godwin told the couple, sellers were getting jumpy, even here in the hottest of markets. Homes that should have vanished in days were sitting on the market for weeks. There was a three-bedroom fixer-upper just north of the city going

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Millennials want to buy homes, but rising prices hold them back

HomeNews by Francis Monfort14 May 2018
  • While it is true that a timeshare contract is a binding legal document, it is often mistakenly thought that such a contract cannot only be cancelled. In fact, most timeshare companies maintain that their contracts are non – cancellable. This misconception is perpetuated by timeshare companies and user groups that are funded, maintained and controlled by the timeshare industry.

  • The FHA 203k loan program provides home buyers the opportunity to buy and fix up a property, without exhausting their personal savings.

A majority of millennials already have plans to buy a home, but they continue to face

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Millenials Will Spend 45% of Income On Rent Before Age 30

As rent prices continue to rise, a new study shows Millennials are paying about 45% of their total income toward rent, and pay out close to $100,000 toward rent before they turn 30.

Analyzing U.S. Census Bureau data going back as far as 1974, a new study from RentCafé found that Millennials have been the hardest generation for those ages 22 to 30. And the future does not look bright for Generation Z.

As it turns out, Millennials pay about $92,600 in rent by the time they turn 30. While they may earn more in income compared to previous generations, they also have to spend more on rent, the study showed.

During that same age span, from 22 to 30, Gen Xers paid an average $82,200 and Baby

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Home Sales Tumble as Mortgage Rates March Upward

Sales of newly built single-family homes took an unexpected tumble last month as rising mortgage rates took a toll.

Sales of new homes fell 7.8% in January to a seasonally adjusted annual rate of 593,000 units, according the data from the Department of Housing and Urban Development and the Census Bureau.

“The moderation in new home sales may be attributable to the interest-rate environment, which could be causing short-term market volatility,” said Michael Neal, senior economist for the National Association of Home Builders. “However, the underlying economic fundamentals for housing demand remain strong, and we expect more prospective homebuyers to enter the market in 2018.”

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Pending home sales cool to 3-year low

HomeMarket Update by Steve Randall01 Mar 2018 Pending home sales cool to 3-year low The spring homebuying season may be long gone but that doesn’t mean first-time buyers should wait another 6 months to start looking

The winter freeze hit the housing market in January with pending sales reversing a three-month upward trend.

The National Association of Realtors says that all major regions saw a drop in contract signings on both a monthly and annual basis.

NAR’s Pending Home Sales Index was down 4.7% in January compared to December, and at a reading of 104.6 is 3.8% below January 2017 and at its lowest level since October 2014 (104.1).

Mortgage rates rising, and the stubbornly low inventory of available homes was to

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Buy a Home Sight Unseen? More Common Then You Think

The competitive nature of many US housing markets is driving buyers to make some snap decisions.

That includes bidding on homes before they’ve even had a chance to view them in person according to a new survey of more than 1,000 recent homebuyers by Redfin.

It found that 35% of those who bought a home in the last 12 months made a bid without seeing their intended new home in person; up from 33% a year ago. In 2016, just 19% of buyers did this.

Among young buyers, sight unseen is even more prolific with 45% making a potentially risky move.

This could be, Redfin suggests, because Millennials are more trusting of the information they find online about homes, neighborhoods, and the homebuying

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Fannie Mae helps borrowers buy homes. Soon it might help build them too.

The mortgage-finance giant is considering a series of pilot programs to address an issue that has plagued the U.S. real-estate market for years: a lack of affordable homes. Fannie’s first initiative, which hasn’t been finalized, would potentially make it cheaper and simpler for prospective homebuyers to get loans to construct new residences.

“Everything is about supply right now,” said Jon Lawless, Fannie’s vice president for product development and affordable housing. “With these activities that we’re undertaking, we hope we can find something that finds a fast path to more supply.”

In many cities, home values have surpassed their boom-era peaks. With lots of buyers priced out of

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Home values set to continue rising in 97% of markets

The upward trend of US home values is set to continue with almost all markets gaining during the next 12 months.

The latest forecast from analytics firm Veros Real Estate Solutions calls for values to appreciate by 4% through September 1, 2018.

“Our Q3 forecast reveals the largest percentage of markets we have ever seen that are forecast to appreciate, with only 3% of markets expected to depreciate – showing continued general market strengthening for the overall U.S. residential real estate market,” says Eric Fox, VP of Statistical and Economic Modeling at Veros.

Increased values are forecast to be driven by the Northwestern states of Washington, Colorado and Idaho.

Washington’s Mount Vernon, Seattle and

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On purchase prices above 300,000.00 

August tends to mark the waning of housing activity ahead of the school year. Not all buyers and sellers have children, but there are enough parents that do not want to uproot their children during the school year to historically create a natural market cool down before any actual temperature change. However, in the DFW area competition is expected to remain fierce for available listings. Savvy sellers and buyers know that deals can be made well into the school months, as household formations take on many shapes and sizes.

According to the report recently released by the North Texas Real Estate Information Systems, new listings were up in the North Texas region 7.4 percent to 13,612. Pending sales decreased 9.1

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