Only 19% of baby boomers think they could have afforded a home in a market like today’s, yet 71% believe younger generations could if they didn’t spend frivolously. ST. LOUIS – Just 15% of current baby boomer homeowners expect to sell their homes in the next five years, while more than half (54%) never plan … Read more
Consumers expect rates and home prices to decline in the coming year but they remain cautious about the market and affordability. WASHINGTON – Consumers reported significantly greater optimism about the future direction of mortgage rates despite showing little change in overall homebuying sentiment, according to Fannie Mae Home’s Purchase Sentiment Index, which increased 0.6 points … Read more
When change happens, stay flexible and focus on your strengths. Control your attitude and actions to thrive in real estate – pivot, provide value and adapt. LOS ANGELES – Imagine you woke up on a remote tropical desert island. No one is around. No restaurants. No Starbucks. No Wi-Fi. Everything completely changed. In an instant. … Read more
Financial pros generally recommend keeping financial records for seven years. Check with the IRS and state tax collectors’ websites for the specifics. FORT LAUDERDALE, Fla. – Question: I helped my father sell his condo in 2017 and have been storing the paperwork from when he originally purchased it to when he sold it. I want … Read more
WASHINGTON – Homebuyers are putting down more money than ever to soften the blow of high mortgage rates, and in some cities, $400,000 down payments are now the norm. The typical down payment for U.S. homebuyers hit a record $67,500 in June, nearly 15% higher than a year earlier, according to a new Redfin analysis. … Read more
In making renovations, homeowners need to strike a balance between personal tastes and features that could appeal to buyers. NEW YORK – Home improvement trends come and go. The wildly popular open floor plan concepts that have dominated homeowners’ desires over the past decade-plus could be falling out of favor. Rachel Stults of Realtor.com linked … Read more
Seniors looking to downsize may have an emotional connection to a home, so agents should work with patience, empathy and understanding. NEW YORK – The National Association of Realtors®’ 2023 Profile of Home Buyers and Sellers found that baby boomers aged 59 to 77 are among the homeowners downsizing, accounting for 45% of home sellers … Read more
Buyers in Florida’s bigger metros gained an upper hand in July 2024, Zillow said. Nationwide, homes have been lingering on the market longer compared to last year. SEATTLE – Competition for homes and price appreciation tapered off faster than normal in July as high housing costs continued to stymie shoppers, according to the Zillow market … Read more
Buyers may hear they need a 20% down payment to buy a home, but that’s not set in stone. Many mortgages require as little as 3% or 3.5% and some have no minimums. SOUIX CITY, Iowa – You might have heard you’ll need a 20% down payment to buy a home. While there’s a reason … Read more
That’s the lowest level since early Feb., easing borrowing costs for prospective homebuyers facing record-high home prices. The average 15-year FRM fell to 5.99%. LOS ANGELES (AP) – The average rate on a 30-year mortgage fell this week to its lowest level since early February, easing borrowing costs for prospective homebuyers facing record-high home prices. … Read more
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