More builders reportedly are offering incentives to attract home shoppers, including paying closing costs, buying down mortgage rates, and even cutting prices—a move builders are usually reluctant to make, the Los Angeles Times reports. “We are really working a little bit harder to get people in the door and to get people excited,” Mark Mullin, a real estate professional who sells new homes in the L.A. area, told the Times.
Since 2008, in the aftermath of the last housing crisis, homeowners have stayed put longer in their homes. But now more than a decade out from the crisis, that trend is only deepening, according to a new study released by First American Bank. “[Homeownership] tenure jumped to seven years during the aftermath of the crash between 2008 and 2016, and the most recent data from December 2018 shows that the median length of time someone lives in thei
Discounted listings are becoming more commonplace, with 38 of the largest 45 U.S. markets seeing an increase in price reductions in December, according to a new report from realtor.com®. The highest number of price reductions on homes was in Charlotte, N.C., where 24 percent of listings were discounted in December, followed by San Jose, Calif. (10 percent); Tampa, Fla. (9 percent); Phoenix (9 percent); and Seattle (8 percent). Further, 40 percen
Homeowners could be putting themselves in more danger as they increasingly tackle home repairs themselves. Using common household tools can be dangerous, especially when it comes to ladders. Accidents involving ladders landed nearly 200,000 people in the emergency room last year, according to a new analysis from Porch.com, a home repair and maintenance website. Porch.com researchers analyzed data from the National Electronic Injury Surv
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How can buyers determine if a community is a good fit for them? Sure, they should walk the neighborhood and make visits at various times of the day. Realtor.com® recently interviewed housing experts to identify signs that a neighborhood could be on the brink of a decline. Here are some of those possible indicators:Several houses are on the market.Two or three homes for sale in close proximity is OK, but more than that could be an indic
Revamping a kitchen can be a costly undertaking, with the median price of a remodeling job coming in at $60,000. So, how do you make sure the changes you make won’t look dated in a few years?HouseLogic, a home improvement website by the National Association of REALTORS®, offers ideas to future-proof your kitchen, including:Stick with whiteWhite has remained the top choice of the National Kitchen and Bath Association’s annual s
Mortgage rates posted more drops this week, lowering the borrowing costs of potential home shoppers and refinancers. Rates are now at a nine-month low, which helped boost mortgage applications more than 20 percent this week.“Lower mortgage rates combined with continued income growth and lower energy prices are all positive indicators for consumers that should lead to a firming of home sales,” says Sam Khater, Freddie Mac’s chief e
The most popular names in transactions show that women, millennials, and Hispanics are shaping up as dominating forces in the housing market, according to a new analysis from realtor.com®. Ten of the top 20 and seven of the 10 fastest-growing buyer first names are mostly millennial female names, researchers found. Home deeds that contained predominantly millennial first names rose 5.3 percent year over year. Home sales associated with
Mortgage rates have been decreasing in recent weeks, but if they reverse course and start to rise again, more potential home buyers may get “priced out,” a new study from the National Association of Home Builders shows. About 1 million households would likely no longer be able to afford buying a median-priced new home if mortgage rates rise from 4.85 percent to 5.1 percent. Last week, the 30-year fixed-rate mortgage averaged 4.51 percent
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