Some Highlights: Existing home sales have accelerated to the highest pace since February 2007 at an annual pace of 5.57 million. Inventory of homes for sale remains below the historically normal 6-month mark at a 4.6-month supply, down 5.8% year-over-year. Median home sales prices rose to $247,700, 4.8% higher than a year ago and replaced […]
House Hasn’t Sold Yet? Take Another Look at Your Price!
The residential housing market has been hot. Home sales have bounced back solidly and are now at their second highest pace since February 2007. Demand has remained strong throughout the summer as many real estate professionals are reporting bidding wars with listings actually selling above listing price. What about your house? If your house hasn’t […]
Americans Believe Real Estate is Best Long-Term Investment
According to Bankrate’s latest Financial Security Index Poll, Americans who have money to set aside for the next 10 years would rather invest in real estate than any other type of investment. Bankrate asked Americans to answer the following question: “Which would be the best way to invest money you did not need for more […]
NAR: Pending home sales marginally rise in June
NAR: Index inched 0.2% higher to 111.0 in June – 1% more than a year ago. Supply and affordability constraints hampered activity despite very low mortgage rates. Source: Florida Realtors
The Top Reason to List Your House For Sale Now!
If you are debating listing your house for sale this year, here is the #1 reason not to wait! Buyer Demand Continues to Outpace the Supply of Homes For Sale The National Association of REALTORS’ (NAR) Chief Economist, Lawrence Yun recently commented on the inventory shortage: “With demand holding firm and homes selling even faster than […]
Brexit 1 Month Later: The Impact on Mortgage Rates
Just over a month ago, the United Kingdom decided to withdraw from the European Union in a decision commonly known as Brexit. At that time there was a lot of speculation on how that decision would impact the U.S. residential mortgage market. Today, we want to look at the impact of the first 30 days. […]
HUD to investigate downpayment aid programs
HUD switched direction. It now says it will look for cases where lenders failed to fully inform FHA buyers on loan terms, charged improper fees or used coercion. Source: Florida Realtors
Slaying Myths About Home Buying [INFOGRAPHIC]
Some Highlights: Interest Rates are still below historic numbers. 88% of property managers raised their rent in the last 12 months! Credit score requirements to be approved for a mortgage continue to fall. Source: Luxury Market News
Baby Boomers Are On the Move
According to a Merrill Lynch study, “an estimated 4.2 million retirees moved into a new home last year alone.” Two-thirds of retirees say that they are likely to move at least once during retirement. As one participant in the study stated: “In retirement, you have the chance to live anywhere you want. Or you can just stay […]
Housing is for everyone – no exceptions
At NAR’s “Housing for All” symposium this week, NAR VP and Floridian Sherri Meadows said that while homelessness is down, “housing insecurity” is on the rise. Source: Florida Realtors
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