More Americans are taking out mortgages this year, the level of which is on pace to top that of the housing boom in the 2000s. And borrowers are saving hundreds of dollars per month by locking in the lowest mortgage rates in history.In the first nine months of 2020, lenders issued $2.8 trillion in mortgage loans, according to Inside Mortgage Finance. As mortgage rates continue to break record lows, homeowners and buyers are rushing
Of all the grocery stores homeowners could live near, those close to a Trader Joe’s tend to have a higher home value than owners near other stores, according to ATTOM Data Solutions’ 2020 Grocery Store Wars. The study factored in current average home values, 5-year home price appreciation from 2015 to 2020, current average home equity, home seller profits, and home flipping rates.Homes near a Trader Joe’s have an average value of $644,
Multi-zone kitchens, upgraded lighting, and oversized rectangle tiles are among the trends sweeping home design in the new year, according to home design website Houzz. The online resource recently released the following 10 trends it expects to get hotter in 2021.1. The multi-zone kitchen. Kitchens traditionally use a three-zone “work triangle” setup with a connection between the fridge, sink, and range, Houzz notes. More homeowners
Some real estate pros are having their best year ever for home sales, despite the pandemic. Existing-home sales in November climbed 25.8% compared to last year, the National Association of REALTORS® reported Tuesday.Existing-home sales—completed transactions on single-family homes, townhomes, condos, and co-ops—did dip down by 2.5% in November compared to October’s unseasonably high levels, however. The slight decrease last month ended a f
Housing providers can breathe a sigh of relief. After months of political gridlock, Congress passed a series of measures Monday night to provide financial relief for Americans struggling during the COVID-19 pandemic. Among the provisions benefiting real estate: $25 billion in rental assistance to states and clarification that business owners can deduct business expenses on their federal tax returns that were paid using a forgivable Paycheck Prote
Create a sparkling light display this holiday season with our top tips, tricks and product picks for bringing envy-worthy curb appeal to your front yard.Source: hgtv.com
This week marked the 15th record low for mortgage rates this year. The 30-year fixed-rate mortgage dipped further to an average of 2.67%, the lowest rate ever recorded by Freddie Mac, with records dating back to 1971.“The housing market continues to surge higher and support an otherwise stagnant economy that has lost momentum in the last couple of months,” said Sam Khater, Freddie Mac’s chief economist. “Mortgage rates are at record
Tout those smart-home features in listings. More than a third of young Americans say they’re more interested in smart-home tech for safety and security, energy efficiency, and entertainment and relaxation since the COVID-19 pandemic, according to a new survey from realtor.com®.Overall, a quarter of Americans say they’re more interested in smart-home technology now that they’re spending more time at home. Forty-one percent of smart-home tec
The stress of 2020 is causing an overhaul in home design. For example, open floor plans are now being considered too open as households seek privacy for work and school while everyone is at home. As a result, home offices are growing in demand in buyers' home search.Real estate and design experts recently shared with realtor.com® some of the biggest home design trends likely in the new year, including:Separated spaces.Open floor plans
Fewer investors are taking on home flips during the pandemic. But many of those who’ve stayed with it are seeing profits rise.The number of home flips dropped again in the third quarter, comprising only 5.1% of all home sales, ATTOM Data Solutions reports. Home flipping reflects a transaction in which the property is bought and sold within 12 months.The gross profit on a typical home flip nationwide—which is the difference between the median
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