FHA-insured financing used to be a big draw for first-time home buyers with its offerings of lower down payments. But more first-time buyers lately are opting for conventional mortgages instead, according to the National Association of REALTORS® Economists’ Outlook blog.Fifty-nine percent of first-time buyers obtained conventional conforming loans in January, whereas 24% obtained FHA-insured mortgages, according to the REALTORS® Confidence In
In states that have recently legalized cannabis, investors are moving quickly to buy warehouses and retail properties to open related businesses.Voters in Arizona, New Jersey, Montana, and South Dakota approved recreational cannabis in November 2020. Other states that have legalized it have also seen increased interest in similar properties shortly after bills were enacted into law.However, some commercial property owners may be hesitant to work
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No home is perfect. About 86% of home inspections will find something that needs to be fixed, according to a study on home inspections from Porch.com, a home improvement website.A home inspection can cost around $300 to $500, but studies estimate it could save the buyer an average of $14,000. A home inspector will evaluate the roof, ceilings, walls, floors, windows, doors, major appliances, heating and air conditioning systems, plumbing and elect
Double-digit annual price increases are occurring in housing markets across the country as buyer demand soars. But which housing markets are showing the strongest performance?U.S. News & World Report examined 96 metro areas to identify the top housing markets for 2021. They factored in year-over-year gains in median home sales prices, the markets with some of the lowest drops in inventory (meaning more supply is available), median days o
The 30-year fixed-rate mortgage reversed course this week, moving up to a 2.81% average. That marks its highest point since mid-November, Freddie Mac reports.“Economic spending has improved, due to the most recent stimulus, but supply chain shortages are causing downstream inflation, leading to higher mortgage rates,” says Sam Khater, Freddie Mac’s chief economist. “While there are multiple temporary factors driving up rates, the underlyi
Take your home from builder-grade to custom-made with low-cost home upgrades you can tackle in a weekend or less.Keep in mind: Price and stock could change after publish date, and we may make money from these links.Paint the Front Door The front door is usually the first thing people see when entering your home. Make a great impression with a bright, welcoming front door color. Not sure what hue to choose? Take our quiz, then follow the step-by-
Renters are being drawn to smaller markets due to their lower costs and the opportunity for more space amid the pandemic—but they may now be facing rising rental rates.“Although rents across the U.S. have been growing at a slower pace since the onset of COVID-19 and the major tech hubs continue to see declines, some markets are seeing rents grow by double digits,” says Danielle Hale, realtor.com®’s chief economist. “Many of the same fa
Heidi's Bridge/HouzzOf all the rooms in your house, your kitchen likely saw the most action in 2020. With so many people staying at home making artisanal pizza and using their countertops as an office or classroom, this room endured plenty of wear and tear. And that means it might just be the room that's most in need of a refresh. But where to start? For inspiration, we consulted with top designers from coast to coast to uncover the hottest
Opportunity zones are proving to be a profitable investment to those who’ve turned to the tax break to redevelop low-income areas across the country.Median home prices increased from the fourth quarter of 2019 to the fourth quarter of 2020 in 77% of opportunity zones with sufficient data. What’s more, median prices rose by more than 10% in nearly two-thirds of the areas—in line with growth seen in areas outside opportunity zones, according
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