REO or real estate owned foreclosed homes can offer great deals but watch out for downsides that may occur with any foreclosure, like maintenance or permitting issues. Purchasing a Foreclosed Home from the Bank – Bad Idea? Question: We are considering a home in a great neighborhood however are nervous since the house … » Learn More about Foreclosed Home – Bad Idea?
Within a competitive seller’s market, a very common tactic to help win a bidding war – when multiple offers are made on one property – is implementing an escalation clause. What exactly is an escalation clause? Sometimes called an “escalator,” an escalation clause is when a buyer submits an offer on a home … » Learn More about Escalation Clause what is it?
U.S. home sales rose a record amount month-to-month in June, NAR says – but one of the reasons is due to the fact May sales fell dramatically in the early days of the pandemic. Existing-home sales rebounded at a record pace in June, in accordance with the National Association of Realtors® (NAR) June housing report. … » Learn More about June Existing-Home Sales Surge
Today’s buyers have 27.4% fewer homes to select from than they did 12 months ago, though in Fla. it varies from 31.4% near Tampa to 9.4% in South Florida. Buyer requirements have risen as a result of record-low mortgage rates and frustration after spending time quarantined in less-than-ideal housing. Due to this fact, sellers who … » Learn More about Buyers Most significant Hurdle in June?
One thing we’ve learned from the 2020 Quarantine is that there are certain aspects of our houses that we love, and some that we downright loathe. After spending quality – and quantity – time indoors, folks planning to move in upcoming months will inevitably have an improvised list of must-haves for their new space. Here … » Learn More about Quarantine Revelations 2020
Mold is a serious concern for buyers. You don’t want to have mold growth in your purchased home. The expansion of these colonies in your living quarters may cause serious health problems. Mold issues generally reduce a property’s value, warns Markham Services. Most buyers ignore homes that have issues with mold. Ignoring the cold facts … » Learn More about Mold Inspection When I’m Buying A House?
U.S. long-term mortgage rates fell this past week for the third straight week, as the benchmark 30-year loan marked its lowest point in 36 months. Mortgage buyer Freddie Mac said Thursday the average rate for the 30-year fixed-rate mortgage declined to 3.45% from 3.51% last week. The key rate stood at 4.41% a year ago. … » Learn More about 30-year Mortgages Hit Lowest Point
In accordance with the Case-Shiller Home Price Index from S&P Dow Jones Indices and CoreLogic, October 2019 saw an annual increase of 3.3% for home prices throughout the country, which happens to be up from the previous month’s pace. Slowdown in the Home-Price Increase Throughout the month, the 10-city and 20-city composites reported … » Learn More about Slowdown in the Home-Price Increase
Pending home sales increased in November, rebounding from the prior month’s decline, in accordance with the National Association of Realtors® (NAR). The West region reported the largest growth in November, while the other three major U.S. regions saw only marginal variances in month-over-month contract activity. Pending Home Sales Up 1.2% in November Pending home … » Learn More about Pending Home Sales Up
U.S. long-term rates on mortgages declined slightly this week, remaining close to the historically low levels where they have hovered over the past 60 days. Rates on Mortgages Ease – 30-Year at 3.72% Mortgage buyer Freddie Mac said Thursday the average rate for a 30-year fixed-rate mortgage eased to 3.72% from 3.74% last … » Learn More about Rates on Mortgages Ease – 30-Year at 3.72%