Slowing market
July 06, 2022
Slowing market?In these very unusual times every indicator is being poured over and studied. New home starts and existing home sales are examined closely. We can point to global troubles, and inflation and the price of gas, but before all of these worries, July and August were always slower months for home sales. Buyers with ...
Reverse (HECM) Lending Spikes
June 30, 2022
Strong home price appreciation continued to spur originations of home-equity conversion mortgages in the first quarter of 2022, according to a new analysis by Inside FHA/VA Lending. FHA endorsement of reverse mortgages surged 16.6% on a sequential basis to $8.38 billion in the first three months of 2022, the strongest showing since the third ...
HUD Discount Sales/Good Neighbor Program
June 22, 2022
Law enforcement officers, teachers (pre-Kindergarten through 12th grade) firefighters and emergency medical technicians can contribute to community revitalization while becoming homeowners through HUD's Good Neighbor Next Door Sales Program. HUD offers a substantial incentive in the form of a discount of 50% from the list price of the home. In return, an eligible buyer must commit to live ...
The Professional Appraisal
June 16, 2022
PROFESSIONAL APPRAISAL Nothing determines the sale price of a piece of real estate but the price at which it sells. Houses are not same-priced identical cans of tuna on the grocery store shelf or shares of stock valued and traded every day on the stock exchange.Real estate appraisal (“property valuation”) is the process of arriving at ...
FED RAISES RATES
June 16, 2022
Fed hikes its benchmark interest rate by 0.75 percentage point, the biggest increase since 1994....Key PointsThe Federal Reserve raised its benchmark interest rates three-quarters of a percentage point in its most aggressive hike since 1994.According to the “dot plot” of individual members’ expectations, the Fed’s benchmark rate will end the year at 3.4%, ...
What Does ‘Low Housing Inventory’ Mean?
June 16, 2022
Buying a house is an exciting event, but many Americans are struggling to find the home of their dreams due to the real estate market’s lack of options. Low inventory is plaguing communities across the country.In the early months of 2020, many people were sent home to quarantine by their employers due to COVID-19. The pandemic forced ...
Zombie Properties on the Rise
June 16, 2022
Vacant Property and Zombie Foreclosure Report for Q2 shows that 1.3 million residential properties in the nation currently sit vacant, that means one in every 76 homes. Zombie foreclosure properties went up quarterly by 2.8%.Zombie foreclosures refer to properties where a homeowner is presented with a pending foreclosure notice, and abandons their house before legally ...
Investor Series – Subsidized Tenants
June 15, 2022
This is one of many articles we will be writing regarding investing in Real Estate. Today we’ll be looking at subsidized tenants and the pros and cons with choosing these types of tenants.A subsidized tenant is a tenant that gets part or all of their rent paid for by another entity. This is usually a ...
Case Study: Utility Tracking and Property Expense Payment
June 15, 2022
Client: Nationwide BankThe ChallengeOur client was slapped with a water bill in excess of $11,000.The SolutionOne way to start off a real estate investment in the hole is to discover you have a utility bill over $10,000 and you can’t figure out why. Upon further inspection, we discovered there was a leak inside the ...
Be more active in you community
June 15, 2022
Be more active in your community. When your community thrives, so does your business.Support your local sports teams: School sports teams look for business sponsorships to help pay for busses, uniforms & tournament fees. Your logo/image may be placed on the field, on uniforms or in programs. Parents notice these & they are grateful for the businesses that ...
The U.S. needs more homes, but builders may be slowing construction
June 15, 2022
Rising interest rates and record home prices are making it impossible for many Americans to buy a house, and that's making builders less confident that if they build a home they'll be able to sell it. That could be a very big problem because the main reason home prices have risen so much in recent years ...
5 Buying Tips
June 14, 2022
1) Don't rule out older listings. There are many reasons why a home may be on the market after a longer period of time. It could be financing fell through from another offer. Their loss might be your gain 2) Don't shy away from fixer uppers. They can be a good option if the numbers ...
8 DIY Disasters That Can Make a Horrible First Impression on Buyers
June 13, 2022
By Lisa Marie ConklinJun 10, 2022EnvelopeFacebookTwitterLinkedinPinterestWhen touring a home for sale, first impressions are everything—and we’re not just talking about curb appeal. It’s common for sellers to spruce up their house before putting it on the market, and some of these home improvements can include DIY maintenance projects like painting the cabinets or switching out ...
This Is the State With the Most Foreclosures By Douglas A. McIntyre
June 13, 2022
To identify the state with the most foreclosures, 24/7 Wall St. reviewed the report U.S. Foreclosure Activity Sets Post Pandemic Highs in First Quarter of 2022 from ATTOM Data Solutions. States are ranked by the foreclosure rate -- the number of total properties with foreclosure filings per housing units, from lowest to highest.Nationwide, there was one foreclosure ...
Sales declines, price drops and the return of buyer incentives, oh my!
June 11, 2022
THE NEWS: Homebuyers may finally be suppressing their appetites for pricy new houses now that mortgage rates are no longer near their historic lows. Builders in recent weeks have reported a significant drop in interest from buyers seeking new homes in a monthly report by John Burns Real Estate Consulting, according to a summary of the report from ...
Rising Rent
June 10, 2022
Homeownership becoming more elusive for many struggling with sky-high rentSkyrocketing rents have hit cities in every corner of the country. Real estate firm Redfin is reporting the median asking rent is above $2,000 a month for the first time ever.A new report from Redfin shows listed rents for available apartments nationwide rose 15% from a year ago....
Ways to Stormproof Your Home
June 09, 2022
As spring turns to summer, one thing that unfortunately comes along with that change is summer storms. For some people this means frequent downpours or heavy rains. For others it means lightning or the possibility of severe weather. Even for those who don’t live in areas that commonly experience tornadoes or other severe weather, there is still a ...
How a Real Estate Agent Can Help Before, During & After Your Home Sale
June 09, 2022
The vast majority of people hire a real estate agent to help them sell their homes. In fact, 92% of homes sold in the U.S.in 2021 were sold using an agent or a broker. Of course, most people know how invaluable and helpful a real estate agent is during the selling process. But most people don'...
How to Pressure Wash a House Obtaining a spotless home exterior requires some prep work and know-how, but the results are worth the effort.
June 09, 2022
https://www.bobvila.com/articles/how-to-pressure-wash-a-house/How to Pressure Wash a HouseObtaining a spotless home exterior requires some prep work and know-how, but the results are worth the effort. There may not be a magic wand to instantly banish years of mildew, soot, dirt, and grime from your home’s exterior, but pressure washing is the next best thing. The ...
How 4 Experts Say You Can Prepare Now for a Busy Housing Market This Spring
June 08, 2022
Jason StaufferNet AdvisorMay 23rd 2022 The 2022 real estate market is shaping up to be something closer to normal. As we approach the busy spring homebuying season, homebuyers are still likely to face an uphill battle, but it shouldn’t feel anything like 2021.Home values skyrocketed by nearly 20% in 2021, according to the most recent data ...
Do you have a Preapproval or Prequalification?
June 07, 2022
PREAPPROVAL LETTER OR PREQUALIFICATION LETTER?In a time where there are multiple offers, and our market is extremely competitive, it is important to have a good Preapproval letter when you submit an offer. Is the letter that you are working with a Preapproval Letter or a Prequalification Letter? Always read the letter that you are provided with, ...
How fast your local housing market is cooling amid the Great Deceleration, as told by 2 interactive charts
June 07, 2022
As housing data rolls in for April and May, it tells us the housing market’s unprecedented acceleration—which saw a record 20.6% year-over-year jump in U.S. home prices between March 2021 and March 2022—is either on pause or over. In the coming months, don’t get confused by lagging home price data: All signs point ...
Single-Family Construction Is Going Soft
June 07, 2022
Builders are growing concerned that demand for new homes is leveling off, and they’re slowing production out of fear that too many buyers have been priced out of the market. Single-family construction in June dropped to its lowest level since April 2020, when the COVID-19 pandemic was just beginning, the Census Bureau reported Tuesday. Further, housing permits—a ...
THE HOUSING MARKET HAS PEAKED, TOP ECONOMIST SAYS
June 06, 2022
The US has officially gone from a housing boom into a “housing correction”, according to Mark Zandi chief economist at Moody’s Analytics.Zandi’s comments were in response to data which shows the US housing market is cooling down. US census figures released last week said sales of new single‐family houses in April 2022 fell for ...
Mortgage Market in a minute
June 04, 2022
https://sites.academymortgage.com/landingpage/?domain=sites.academymortgage.com&slug=markettracker&userId=96qIP ...
