Low inventory continues to plague real estate markets across the country, but what effect is this having on young buyers? Berkshire Hathaway HomeServices surveyed prospective homeowners in their latest Homeowner Sentiment Survey to find out if they still think now is a good time to buy a home. Overwhelmingly, they said, “yes.”More than 71 percent of the 2,518 respondents—many of whom are millennials—believe now is a good time to buy a hom
New tools are enabling real estate professionals to highlight a property’s proximity to public transportation, a prime selling point for urban home buyers. For example, TransitScreen offers real-time transportation information and calculates how accessible public transit is from a certain location. Its MobilityScore rates a location from 0 to 100 based on its proximity to public transit, such as buses, trains, and taxis. It also factors in
More than half of Americans say they would prefer to put 10 percent down on a home purchase rather than 15 percent, 20 percent, or 30 percent, according to mortgage banker American Financing’s 2017 Mortgages in America Survey. The 10 percent down payment option was the lowest among the choices respondents were given in the survey. It also was the most popular choice across generational divides, including millennials, Generation Xers, and baby
The 30-year fixed-rate mortgage barely budged this week, staying well below the 4 percent mark. “Rates held relatively flat this week,” says Freddie Mac Chief Economist Sean Becketti. “The 10-year Treasury yield fell just 1 basis point, while the 30-year mortgage rate remained unchanged at 3.83 percent.”Freddie Mac reported the following national averages with mortgage rates for the week ending Sept. 28: 30-year fixed-rate mortgages: ave
Major natural disasters, such as hurricanes, floods, wildfires, and earthquakes, have made headlines recently, and your clients may be considering taking extra precautions to protect their homes against extreme weather events. Pass these tips along to homeowners. Know your risks. Preparation is key before a disaster strikes because emergency supplies dwindle quickly after such an event. And know what types of threats your area is most vulnerable
Replacing the roof may be the most important upgrade your client can make to the exterior of his or her home, according to the National Association of REALTORS®’ 2017 Remodeling Impact Report. The report takes a look at the cost of the most common exterior and interior renovation projects and gauges how appealing they are to home buyers at resale.REALTORS® ranked new roofing, vinyl windows, and garage door as the three exterior projects that
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Home prices likely will continue to rise over the next year as buyer demand continues to outstrip supply in many markets, according to the August 2017 REALTORS® Confidence Index.That bodes well for homeowners, but buyers are likely going to face even higher prices in the coming months as well as continued competition from the limited number of homes for sale, according to the report.Thirty-nine percent of properties in August sold at or above t
Real estate professionals are desperate to find more homes to list. Some homeowners say they’d sell if they could, but their mortgage is still too high. Nearly 3 million homeowners still remain in a negative-equity position in their home.That translates to about 5.4 percent of all properties with a mortgage that remain in a negative-equity position, in which the owners owe more on the mortgage than their home is currently worth, according to re
Green home construction has moved into the mainstream among single-family and multifamily home builders, according to the new report “Green Multifamily and Single Family Homes 2017 SmartMarketBrief.” The report was conducted by Dodge Data & Analytics in conjunction with the National Association of Home Builders.At least one-third of builders surveyed say green building is a significant share of their overall activity (more than 60 percent
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