Owning a home has great financial benefits. In a recent research paper, Homeownership and the American Dream, Laurie S. Goodman and Christopher Mayer of the Urban Land Institute explained: “Homeownership appears to help borrowers accumulate housing and nonhousing wealth in a variety of ways, with tax advantages, greater financial flexibility due to secured borrowing, built-in…
Homes priced at the top 25% of the price range for a particular area of the country are considered “premium homes.” In today’s real estate market, there are deals to be had at the higher end! This is great news for homeowners wanting to upgrade from their current house. Much of the demand for housing…
Pending home sales increased 1.1% in May compared with April, reaching a score of 105.4 on the National Association of Realtors’ Pending Home Sales Index. The increase follows a decrease of 1.5% the previous month. Regionally, contract signings increased 3.5% in the Northeast, 3.6% in the Midwest, and 0.1% in the South. Sales were down…
Some Highlights: If you are thinking of buying a home, you may not know where to start. Here is a simple list of 10 steps that you will go through to purchase a home. Make sure to ask your agent for details about each step and what else may be required in your area!
Wishing you & yours a safe & Happy 4th of July!
The housing crisis of the last decade was partially caused by unhealthy levels of mortgage debt. Homeowners were using their homes as ATMs by refinancing and swapping their equity for cash. When prices started to fall, many homeowners found themselves in a negative equity situation (where their mortgage was higher than the value of their…
When deciding to buy a home, people are presented with many different options. The type of home you buy depends on your needs, budget, and in many cases, the desired maintenance level. For many millennials, their choice has been buying a condominium! According to CoreLogic, “Last year about 43% of all condo home-purchase mortgage applications…
Rising home prices coupled with a lack of inventory in today’s market may cause some homeowners to consider selling their home on their own (known in the industry as a For Sale By Owner). However, a FSBO might not be a good idea for the vast majority of sellers. The top 5 reasons are listed…
At first glance, a foreclosure and a short sale can seem similar. After all, they both occur when you’re having trouble covering the costs of owning your home. However, if you’re facing one of these two scenarios, you need to know that some important differences exist between them. I’ve laid them out below. Keep reading…
Despite falling mortgage rates, the refinance share of total mortgage volume fell to 32% of all loans in May, down from 35% in April and down from 38% in May 2018, according to Ellie Mae’s Origination Insight Report. The average rate for a 30-year fixed rate mortgage, based on closings, was 4.52% in May, down from…
We share insightful articles and resources to help homeowners and real estate professionals stay connected to the top trends related to the real estate market and local happenings in Tallahassee.