Foreclosure Activity at New High Since the Pandemic Began Foreclosure starts and bank repossessions are at their highest numbers in the last two years. Most pandemic-initiated moratoriums have lifted by now and lenders are starting to resume foreclosures. Still, foreclosure activity remains well below historical levels. The number of properties with a foreclosure filing during …
Category: News
Apr 21
What to expect during the loan process
Having a healthy credit score is important when getting pre-approved! Here is what to expect when applying for a mortgage. With the help of myself and Katy Sychterz of RoundPoint Mortgage, (NMLS# 183951 – 484.534.5107) we can explore homebuying options to help you meet your goals. #RealEstate #Realtor #HomePurchase #BuyersMarket #PlymouthMeetingRP
Apr 20
Home Buyers’ Top Regrets
Home Buyers’ Top Regrets About 70% of buyers recently surveyed say they have at least one regret about their homebuying experience, according to the “Buyer and Seller Insights Report for 2022” conducted by HomeLight, a real estate referral company. The biggest regrets: What they paid for their home and home maintenance. Twenty-two percent of buyers …
Apr 19
Sellers May Need to Consider Price Drops
Sellers May Need to Consider Price Drops Higher mortgage rates may soften demand this spring as worsening affordability prices more buyers out of the market. With mortgage applications down 6% from a year ago, sellers may need to be more realistic about how much they can ask for their property. An increasing number of listings …
Apr 19
Buyers Making Compromises to Find a Suitable Home
Buyers Making Compromises to Find a Suitable Home Over the past year, home buyers have faced steep competition, which has included fierce bidding wars. Inventory shortages and high demand have forced them to rethink their priorities when shopping for a home. Eighty percent of buyers say they’ve had to compromise on key home features, according …
Apr 18
First-Time Buyers Still Want a Bathtub
First-Time Buyers Still Want a Bathtub Bathroom remodeling trends in recent years have focused on removing the bathtub and supersizing the shower. But that could actually hurt a property’s resale value, depending on the buyers you’re trying to attract. Bathroom Remodeling Trends Focus on Spa-Like Upgrades First-time home buyers say they want a shower-tub combo, …
Apr 18
Pre- Approval Checklist
Check out this handy pre-approval checklist! With the help of myself and Katy Sychterz of RoundPoint Mortgage, (NMLS# 183951 – 484.534.5107) we can explore homebuying options to help you meet your goals. #RealEstate #Realtor #HomePurchase #BuyersMarket #PlymouthMeetingRP
Apr 15
Property Taxes Rising at Slower Pace
Property Taxes Rising at Slower Pace The average property tax on a single-family home in 2021 rose at the smallest pace in five years. Taxes rose by 1.8% last year, from $3,719 in 2020 to $3,785 in 2021 nationwide, according to a new report from ATTOM Data Solutions, a real estate data firm. “It’s hardly …
Apr 14
Inflation Edges Higher, Affecting Housing
Inflation Edges Higher, Affecting Housing The rate of inflation reached 8.5% in March, continuing at a 40-year high and showing few signs of relief for consumers. Higher gas prices, food, and housing costs fueled the consumer price index’s jump. “Aggressive inflation will force the Federal Reserve to raise interest rates multiple rounds this year and actively pursue …
Apr 13
Realtor.com® Aims to ‘Close the Gap’ in Homeownership
Realtor.com® Aims to ‘Close the Gap’ in Homeownership Homeownership rates for many minority groups continues to be well below that of whites, and discriminatory policies are often blamed for that. During National Fair Housing Month in April, many housing groups and organizations are bringing the racial housing gap to the forefront and asking others in …
Apr 12
Sellers Are Lowering Asking Prices
Sellers Are Lowering Asking Prices With mortgage rates now nearing 5%, many aspiring home buyers may have reached the top of what they can afford, especially as 40-year-high inflation affects the threshold for them. As a result, the number of sellers dropping their asking price is growing at a faster clip than in the recent …
Apr 11
Rising Rates
Rising Rates Home buyers this spring are facing a double whammy of rising home prices and mortgage rates. The 30-year fixed-rate mortgage rose to 4.72% this week, from 3.13% when compared to a year ago, Freddie Mac reports. Over the last three months, mortgage rates have risen by 1.5 percentage points, the fastest three-month rise …
