The housing market took a slight dip in contract signings in July, but that could potentially mark an opening for home buyers who have been shut out by fierce competition over recent months.The National Association of REALTORS® reported this week that pending home sales dropped by 1.8% in July compared to June, the second consecutive month for declines. Only the West saw contract signings increase last month. But all major regions across the cou
Mortgage rates continue to hover at all-time lows, marking the ninth consecutive week that rates have averaged below 3%.“The tug-of-war between the economic recovery and rising COVID-19 cases has left mortgage rates moving sideways over the last few weeks,” said Sam Khater, Freddie Mac’s chief economist. “Overall, rates continue to be low, with a window of opportunity for those who did not refinance under 3%. From a homebuyer perspective,
Aspiring first-time homebuyers may not want to give up on that competitive house hunt: In many markets, they could save money by owning.Buying a starter home is more affordable than renting in nearly half of the largest U.S. metros, according to a new study released by realtor.com®.The U.S. median rental price has climbed nearly 10% year over year to $1,607. That is 15.5% higher than the monthly payments for a starter home, the lower-priced tier
In a 6-3 decision late Thursday, the U.S. Supreme Court ended the Centers for Disease Control and Prevention’s eviction moratorium. The move brings relief to the country’s small housing providers, who have faced financial hardship for more than a year.In a statement sent to all members overnight, the National Association of REALTORS® said, “This decision is the correct one, from both a legal standpoint and a matter of fairness. I
Co-working spaces continue to have a big moment in the commercial sector as more businesses are drawn to flexible and short-term solutions amid COVID-19 and its latest fast-spreading delta variant.Technology companies are reportedly one of the major industries that are snatching up co-working spaces, such as WeWork, The Wall Street Journal reports. Their rental contracts may be for “hot desks” or for more than 50,000 square feet leases th
Neat Loans announced that clients who get a COVID-19 vaccine will receive a $500 discount on home financing through the company. The discount applies to $500 on closing costs for residential purchases or when refinancing a mortgage loan.More companies are requiring their employees to get vaccinated prior to returning to the office. But now some firms are extending that to clients with enticing offers to motivate more people to get vaccinated agai
Skyrocketing home prices over the last year may soon hit current homeowners in the form of property taxes. Housing experts are predicting property taxes to climb higher in 2021 than the 4% uptick in 2020.Many city governments lost revenue during the COVID-19 pandemic and, as reassessments kick in, homeowners may be faced with a soaring bill. Property taxes are expected to increase by about 6.5% in 2021, according to realAppeal, a company tha
About David David moved to Austin in 1991 and started his Real Estate career as a New Home Professional Sales Consultant with a major builder. There he learned the homebuilding process literally from the ground up. Starting with an undeveloped lot, choosing the floor plan, elevation and upgrades to be incorporated into the spec homes or assisting buyers at the design center with all the many options available to them as they customized their to b
As the housing market booms, lenders have faced a significant uptick in mortgage demand. Low-interest rates are fueling a frenzy. Mortgage applications for home purchases jumped 22% in the second quarter compared to the first quarter and are up 52% compared to a year ago, according to ATTOM Data Solutions’ Q2 2021 U.S. Residential Property Mortgage Origination Report.The largest quarterly increases in residential purchase mortgage originations
Home buyers should expect to bid way over the asking price in Austin, Texas. The city has homes fetching the highest amounts over asking price in the country—$100,000 or more.Nearly 2,700 homes in Austin have sold this year for $100,000 or more above the initial listing price, according to an analysis from Redfin, which examined sales records through Aug. 11. Researchers note that some U.S. cities have seen more properties sell at a premium, bu
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