Buy now or wait a year? Are you a millennial watching your friends and family thrive on the real estate market, and wondering if now is the right time for you to do the same? Today’s rates are historically low, bit real estate market researchers expect rates to increase by this time next year. See …
Category: Real Estate Tips
Jan 28
Affordability in Multifamily Homes
Affordability in Multifamily Homes In expensive housing markets where inventories are tight, some buyers are finding it more affordable to invest in a multifamily property rather than purchase a single-family home, The Washington Post reports. The buyers can live in one of the units in the building while renting out the others to defray some …
Jan 27
FICO Scoring Could Impact Buyers
FICO Scoring Could Impact Buyers The way FICO scores are calculated is changing this summer, and the move could make it tougher for some Americans to get approved for a mortgage, The Wall Street Journal reports. Fair Isaac Corporation, more commonly known as FICO, will soon start more harshly penalizing the scores of consumers who …
Jan 24
Home Seller Profits Climb
Home Seller Profits Climb Home sellers nationwide felt richer at resale in 2019. The average seller saw a home price gain of $65,500 on a typical sale, which is up from $58,100 the year prior, ATTOM Data Solutions reports in a new study. This marks the highest level since 2006. That also represents a …
Jan 23
Counties Where Foreclosures Are Increasing
Counties Where Foreclosures Are Increasing The foreclosure crisis feels like a relic of the Great Recession. After all, foreclosure filings have fallen 83% in 2019 compared to 2010, the lowest level since tracking began in 2005, according to ATTOM Data Solutions, a real estate data firm. Foreclosure starts also reached a new record low, led …
Jan 22
What is debt-to-income ratio?
What is debt-to-income ratio? Calculating your debt-to-income ratio (DTI) is one of the simplest ways to get a handle on your current financial health. DTI is the percentage of your monthly income that goes towards debt payments. Lenders look at your DTI when they are considering your ability to pay back new debt. Your debt-to-income …
Jan 21
Closing Costs
Closing Costs A home costs more than just the sale price. For example, closing costs—which make up about 2% to 5% of the home’s purchase price—are a major added expense. Michael Hyman, a research data specialist at the National Association of REALTORS®, shares the charges that make up closing costs in a post at the …
Jan 20
Rental Investments
Rental Investments Head to the Midwest or the East Coast for some of the biggest hotspots to cash in on a rental investment this year, according to a new analysis from TurboTenant, a property management tool. Overall, 31 cities from 20 states are featured in the report, which names the cities for the best rental …
Jan 17
Mortgage Applications Surge
Mortgage Applications Surge Homebuyer demand hit its highest level in 11 years, as January continues to shape up to be a hot month for the housing market. Weekly mortgage applications jumped 30% for the week ending Jan. 10, a sign that home buyers are emerging, the Mortgage Bankers Association’s seasonally adjusted index shows. “The …
Jan 16
More New Homes Have Less than 4 Bedrooms
More New Homes Have Less than 4 Bedrooms A downsizing trend is occurring in new-home construction, with the declining number of bedrooms in newly built homes a solid sign of the change. The U.S. Census Bureau’s survey of construction data confirms that the number of bedrooms in the typical newly constructed single-family home is dropping. …
Jan 15
Questions about VA Financing?
Questions about VA Financing? I welcome the opportunity to answer your questions about VA Loans. What is the maximum sales price I can purchase with no down payment? What type of property can I purchase? Ave VA loans assumable? How can I obtain a Certificate of Eligibility? What if my spouse is overseas or at …
Jan 14
Ad Words That Attract Home Buyers
Ad Words That Attract Home Buyers Most buyers have “hardwood floors” and “granite countertops” on their minds when reading listing ad copy, but their preferences can differ somewhat after that. Depending on where consumers live, they may be more apt to be drawn to listing ads that point out the “cozy fireplace,” “pool,” or “brick …
