At the national level, housing affordability is up from last month but down from a year ago. Mortgage rates were down from last month at 4.60 percent this February, and up 4.1 percent compared to 4.42 percent a year ago. Housing affordability declined from a year ago in February moving the index down 2.8 percent… Continue Reading February 2019 Housing Affordability Index
Any consumer that you have substantive contact with: always explain and get this form SCR115 executed: https://screaltors.org/wp-content/uploads/Forms/115.pdf https://www.llr.sc.gov/pol/rec/recpdf/SC_Disclosure_of_Real_Estate_Brokerage_Relationships.pdf (29) "Substantive contact" means contact in which a discussion or dialogue between the consumer and the associated licensee moves from casual introductory talk to a meaningful conversation regarding the selling or buying motives or objectives of the… Continue Reading Always Use the LLR Form (Real Estate Relationships, aka Agency Brochure)
Photo Credit: VHT Studios / Chrissy Barrett The real estate professional: Cris Grayson, broker associate at Baird & Warner in Glen Ellyn, Ill. About the home: The five-bedroom home in Glen Ellyn, Ill., was built in 1975. The home has been meticulously maintained, and the homeowners had recently made some updates to the interior as well.… Continue Reading Staged to Sell: A Virtual Transformation
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