Take a closer look at the home’s foundation before buying, says Matt Stock, president of U.S. Waterproofing, based in the Chicago area. An undisclosed structural foundation repair could leave a new buyer facing a price tag of $20,000 or more. “We’ve seen foundations sink 8 inches,” says Stock. “That was a $150,000 repair for the… Continue Reading Do a Foundation Check: 5 Things to Watch For
John Blom By John Blom Last year I blogged about my experience as president of my local association, so it seemed right to wrap it all up with a grand finale — a seminal description of the lessons that I learned as part of that experience. I sat down last week to write that post and… Continue Reading Great Leaders Exhibit Gratitude
REALTORS® reported that sales of distressed properties continued to fall in 2016, according to the December 2016 REALTORS® Confidence Index Survey Report, a monthly survey of REALTORS® about their sales activity and local market conditions.[1] Distressed sales accounted for seven percent of sales (eight percent in 2015). With rising home values, improved economic conditions, and… Continue Reading Distressed, Investment, and All-cash Sales Continued to Decline in 2016
Super Bowl Sunday is almost here: the New England Patriots (a shocker to nobody) vs. the Atlanta Falcons. Last month we looked at who would be the this year’s champion if the winner was determined based on the home price movements of each team’s city. It now appears that much to the chagrin of NFL Commissioner… Continue Reading Super Bowl LI: New England’s Higher Home Prices vs. Atlanta’s Faster Price Growth
Deals, animals, health, Pac-Man, battery life, juniper trees, taxes, and snacks. Good news if you are buying a house this month! You lucked out! Nope. We’d have to move. We don’t want to tell anyone how to spend their money, but it seems like a waste to buy plane tickets for this group. Rob Gallop/flickr/2007… Continue Reading What We’re Reading: Jan. 30 – Feb. 3
The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S Bureau of Labor Statistics’ (BLS) January jobs report: “Job growth is critical in a rising interest rate environment. Every 10 basis point rise in mortgage rates can shave off approximately 35,000 in home sales annually. That is why today’s solid job addition of 227,000… Continue Reading Instant Reaction: January Jobs Report
More first-time homebuyers avail of a low downpayment loan compared to all homebuyers, according to the December 2016 REALTORS® Confidence Index Survey Report, a monthly survey of REALTORS® about their sales activity and local market conditions.[1] Among first-time homebuyers who obtained a mortgage and whose transactions closed in October—December 2016, 81 percent made a downpayment… Continue Reading 81 Percent of First-time Homebuyers Made a Downpayment of Less than 20 Percent
This blog post was written by Managing Director of Housing Research, Danielle Hale, and Data Analyst, Hua Zhong. You probably know that home closings slow down during the holidays and the earlier part of the week. Here is the data to back up your intuition: The sales data for December 2016 is still preliminary, but… Continue Reading EHS in 2016 by the Numbers – Part 2 – Least Common Closing Dates
The retirement boom is on for baby boomers so expect a lot of downsizing in the years ahead as older homeowners replace their suburban house with a condo. Now, how do you respond if you have clients who want to use a reverse mortgage to buy their new place? It’s not your job to be… Continue Reading Should Your Older Clients Buy a House Without Having to Make Monthly Payments?
WASHINGTON (February 1, 2017) — Existing-home sales increased 3.8 percent to a 10-year high in 20161, but affordability pressures, student debt and possible confusion about down payment requirements prevented many aspiring homeowners from reaching the market, according to recent consumer insight from the National Association of Realtors®. NAR's Aspiring Home Buyer Profile analyzed 2016 quarterly… Continue Reading NAR Finds Real and Imaginary Barriers Holding Back Prospective Homebuyers