Tagged : Realtor

Wall Street Journal - U.S. home builders reported the best conditions in the housing market since the mid-2000s boom, the latest sign home sales are becoming more robust and will power the U.S. economy this year.

The National Association of Home Builders, an industry trade group, said Monday that its housing-market index leapt to a reading of 52 in June, up by eight points from May. The jump was the biggest since the summer 2002.

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Mortgage rates climbed for the sixth consecutive week but remain relatively low by historical standards. The uptick in rates can be attributed to improving economic reports and speculation that the Federal Reserve will scale back bond purchases.

The average rate on a 30-year fixed loan achieved a 14-month high and is closing in on the 4 percent mark. According to the latest survey by mortgage buyer Freddie Mac, the average on a 30-year fixed-rate mortgage is up 0.07 percentage point from last week, climbing from 3.91 percent to 3.98 percent.

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Right now homebuyers across the country, already in frenzied bidding wars for homes, are increasingly losing out to the almighty all-cash buyer.

To answer why, you have to look at the appraisal process. Price appraisals are common during the home selling process. They confirm that the home’s value is not substantially below the asking price. The step is necessary for buyers who are getting a mortgage—the bank won’t lend buyers $300,000 for a home worth only $250,000.

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foxnews.com - Are you finally off the fence and doing a little home shopping? As the market heats up and sellers regain control, here are a couple of trends to consider.

Low mortgage rates:  The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently hovering near historic lows, at 3.78 percent.

Slim pickings:  As of February, slightly less than 2 million homes were for sale nationwide. 

Home stalking:  As demand from home buyers grows faster than the supply of homes for sale, many buyers are taking less conventional routes to find their dream home.

Bidding wars:  As many of the nation’s markets heat up, bidding wars are quickly becoming the norm.

Say goodbye to ultra-low mortgage rates.

In the past month, rates have been on the rise and they are expected to continue to climb.

This week, the average rate on a 30-year fixed-rate mortgage jumped another 10 percentage points to 3.91% and are up from 3.3% in early May, according to mortgage giant Freddie Mac. Meanwhile, those seeking a 15-year loan received an average rate of 3.03%, up from 2.56% -- a record low.

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Home buyers are sizing up homes with a long list of preferences.

The typical home shopper buys a home with three bedrooms and two full bathrooms, according to the National Association of REALTORS(R) 2013 Home Features Survey.

What feature did home shoppers report they most desire in a home? Central Air conditioning, Walk-in closet in the master bedroom, Ensuite master bath, New kitchen appliances, Eat-in kitchen area, Hardwood floors, Granite countertops, Kitchen island, and Stainless steel appliances.

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money.cnn.com - In a dramatic about-face for the housing market, sellers are now calling the shots.

A survey of more than 2,000 Americans found that 33% of the 365 who were searching for a home have been on the hunt for more than a year and many were willing to make compromises on where they live or the type of home they would buy in order to close the deal, Century 21 Real Estate reported Wednesday.

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When it comes to buying a new home, one of the biggest expenses people worry about is replacing the roof. A new roof is often worth a lot to potential buyers, because it puts their minds at ease about looming future problems.

If you are about to sell, should you replace the roof? That depends on the situation, so the first step is to get a home inspection. The inspector can examine the roof and let you know what may be needed so that you can make an informed choice. Having your own inspection also prepares you for what the buyer’s inspector may recommend.

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online.wsj.com - Coping tips for handling the unexpected while selling a home

The Virginia house is sold—next week I head to Florida to make what had been our vacation residence into a primary home.

I was sideswiped by one happy surprise—our house sold in three days—and two awful ones—the sudden, serious illnesses of both my son and my husband.

Don't expect to engage a top estate sale agent.  Don't use online auction sites.  Don't overprice what you own.  Talk to your friends.  Involve your agent.  Re-prioritize.  

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nbcnews.com - U.S. home resales rose in April to the highest level in nearly 3-1/2 years as surging prices lured sellers back into market, which should support the housing sector and the overall economic recovery.

The National Association of Realtors said on Wednesday existing home sales advanced 0.6 percent to an annual rate of 4.97 million units, the highest level since November 2009.

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