Finding affordable housing can be a challenge. Rents are often compared to the price of housing and many of those who rent desire to own a home. The typical renter has to factor in what portion of their income will they have to commit to housing. Based on NAR’s home affordability index[1], the Midwest has… Continue Reading Which States Have Affordable Housing?
Younger Boomers, buyers aged 54 to 63 years, made up 18 percent of all home buyers in 2018, consistent with the previous year. The median age for this group was 59 years old and they were born between 1955 and 1964. One in four Younger Boomers was a single female buyer (25 percent), the same… Continue Reading Younger Boomers: Largest Share of Single Female Buyers
Preparing for tax time, dog-proofing your car, the benefits of a robo-garage, and much more, compiled by Anne-Marie Siudzinski, Senior Library Information Specialist. Tax time tips. Help pets by donating your old bedding to local animal shelters. Also, dog-proofing your car. Pollen haze or pollen bomb–let the sneezing begin. Matt Batchelor/flickr/2011 Locked out of your… Continue Reading What We’re Reading: April 8-12
Question #17 on SC's Residential Property Condition Disclosure Statement (aka the seller's disclosure) asks about EASEMENTS such as access easements, conservation easements, utility easements, other easements; and along with questions about party walls, shared private driveways, private roads, mineral rights, encroachments onto the property, and encroachments onto neighboring properties. https://www.llr.sc.gov/POL/REC/RECPDF/Property%20Condition%20Disclosure%20Statement.pdf Properties have easements, especially utility… Continue Reading Question #17 on Seller Disclosure, Always Yes
With mortgage rates on the decline and home prices appreciating at a slower pace, REALTORS® reported that homebuying traffic increased in February 2019 compared to one year ago, according to NAR’s February 2019 REALTORS® Confidence Index Survey.[1] The REALTORS® Buyer Traffic Index increased to 55 in February 2019 from 52 in January 2019. The REALTORS®… Continue Reading REALTORS® Report Stronger Buyer Traffic as Affordability Improves
What are Existing-Home Sales, and Why Does the Data Matter? Existing-home sales data are a monthly measure of the sales volume and prices of existing single-family homes, condos, and co-ops nationwide. But what are existing-homes? Existing-homes, unlike new homes, are homes that are owned and occupied before coming onto the market. Existing-home sales account for… Continue Reading Existing-Home Sales Explained
Gen Xers, buyers aged 39 to 53 years, made up the second largest share of home buyers by generation at 24 percent of all home buyers in 2018, (down from 26 percent last year). The median age for this group was 45 years old and they were born between 1965 and 1979. They tended to… Continue Reading Gen Xers: Purchased Multigenerational & the Biggest Homes
By Justin M. Riordan, Spade and Archer Design Agency Surveys show that millennials prioritize home buying over getting married or having kids. They’re eager to buy, as soon as they get their finances in order. So, how do you appeal to the millennial home buyer? Here are some tips in speaking their language: 1. Make it Instagram… Continue Reading Instagram-Worthy Pics and Ga-Ga-Like Amenities to Attract Millennials
About 3,000 REALTORS® who responded to NAR’s February 2019 EALTORS® Confidence Index Survey had more optimistic— although modest— home price growth expectations over the next 12 months. Respondents expect home prices to typically increase by 1.9 percent nationally, up from 1.4 percent in the January survey. NAR forecasts a 2.7 percent appreciation in the median… Continue Reading REALTORS® Home Price Outlook Improves as Mortgage Rates Decline
NAR Chief Economist Lawrence Yun commented on March hiring and unemployment figures, released this morning by the Labor Department. A total of 196,000 jobs were added last month, exceeding the goal of 170,000 jobs set by many economists. This marked the 102nd straight month of job gains. “The job market is quite remarkable as more… Continue Reading NAR Chief Economist Comments on March Jobs Report