Home prices likely will continue to rise over the next year as buyer demand continues to outstrip supply in many markets, according to the August 2017 REALTORS® Confidence Index.That bodes well for homeowners, but buyers are likely going to face even higher prices in the coming months as well as continued competition from the limited number of homes for sale, according to the report.Thirty-nine percent of properties in August sold at or above t
Real estate professionals are desperate to find more homes to list. Some homeowners say they’d sell if they could, but their mortgage is still too high. Nearly 3 million homeowners still remain in a negative-equity position in their home.That translates to about 5.4 percent of all properties with a mortgage that remain in a negative-equity position, in which the owners owe more on the mortgage than their home is currently worth, according to re
Green home construction has moved into the mainstream among single-family and multifamily home builders, according to the new report “Green Multifamily and Single Family Homes 2017 SmartMarketBrief.” The report was conducted by Dodge Data & Analytics in conjunction with the National Association of Home Builders.At least one-third of builders surveyed say green building is a significant share of their overall activity (more than 60 percent
California continued to dominate realtor.com®’s latest rankings of top-performing housing markets. The state boasted 11 metros on this month’s top 20 list for markets that are seeing the quickest sales and most buyer demand online at realtor.com®.For the first time in several months, Vallejo, Calif., fell from its number-one ranking to third place, while San Jose and San Francisco assumed the top two spots on the list.Nationwide, the median
Homeowners looking for a remodeling project may be smart to tackle a kitchen renovation—that is, if they’re looking for projects with the strongest buyer appeal and high returns on their investment at resale.Kitchen renovations and upgrades are among the top remodeling projects most likely to add value to a home at resale and most likely to appeal to home shoppers, according to the 2017 Remodeling Impact Report, conducted by the National Ass
Homeownership would no longer be a priority in the tax code if a reform plan released Wednesday by the Trump administration and congressional Republicans becomes law. The “Tax Reform Unified Framework,” known as the “Big 6” tax reform plan, is being touted as a way to cut taxes for the middle class. But it could hurt residential real estate by eliminating most itemized deductions in return for an increase in the standard deduction.Althoug
Minimize some of the roadblocks along the path to happy homeownershipFirst-time homebuyers make mistakes going into the homebuying process, throughout the process and even after they purchase a new home. Because they’ve never done it before!Here are 24 mistakes that I’ve observed and some tips on how to help rookie buyers avoid making them.Pre-purchase mistakes: Not knowing their true budget. Homebuyers should crunch their monthly number
Lenders reportedly are loosening their standards to qualify for a mortgage. Fannie Mae’s third-quarter 2017 Mortgage Lender Sentiment Survey shows the main reason behind the easing of credit has been the increased competition that lenders are feeling.Across all loan types—GSE-eligible, non-GSE-eligible, and government—lenders reported easing credit standards over the last three months. Further, the net share of lenders who say they expect t
Millennials’ desire for smaller homes may have a big impact on the future demand of some of the most popular homes today.Young adults are getting married later in life, they’re delaying their first home purchase (often due to student loan debt) by up to seven years in some cases, and they’re also having children later in life.The U.S. fertility rate has plunged to its lowest level since the Centers for Disease Control began tracking such d
The exterior of the home counts big for creating first impressions. Indeed, 99 percent of real estate pros say that curb appeal is a critical factor in attracting a buyer, according to the National Association of REALTORS®’ 2016 Remodeling Impact: Outdoor Features survey.Here are a few things you can do to enhance the curb appeal to your listing:1. Paint colorful flowers.Adding colorful flowers, like yellows or pinks, to your landscaping can
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