Smaller markets known for greater affordability are growing in popularity among home shoppers. The Midwest and Northeast are outshining California markets, which have long dominated realtor.com®’s monthly list of the most bustling locales in the country. Realtor.com®’s list is based on the markets with the fastest sales and the highest number of website visits from house hunters.The Midwest and Northeast are “where the action is conc
Consumers continue to be under a lot of wrong assumptions about what it takes to get a mortgage—and that may be holding some back from even trying.Even though a lot of mortgage information is now available online, most consumers still overestimate the minimum credit score and down payment needed to qualify for a mortgage. They also remain unfamiliar with low-down-payment programs, according to a survey released by Fannie Mae of 3,000 respondent
Renters are unlocking savings on their federal taxes, and a real estate watchdog believes that will translate into greater home sales. The Tax Cuts and Jobs Act may well fuel an increase in entry-level home buying in most areas of the country, according to a newly released report from John Burns Real Estate Consulting.Renters paid $2,716 less in taxes on their 2018 federal tax bill across some of the top housing markets (ranging from $1,918 less
Newlyweds in Cleveland, Detroit, and Pittsburgh can have it all—a fancy wedding and a new home. Those Midwestern metros were found to be the most affordable cities in which to throw a wedding and cover a down payment on a home, according to an analysis by Redfin.In all three metro areas, the average combined cost of a wedding and a down payment is less than $65,000, compared with the national average of more than $109,000, according to the stud
Earlier this year, a federal court ruled that provisions of a U.S. Department of Labor rule, which expanded access to association health plans to real estate professionals, were unlawful. The Department of Justice is appealing the ruling, joined in support by the National Association of REALTORS® and a growing number of voices within the real estate community.NAR has filed an amicus brief in support of the Labor Department’
When is the right time to purchase your first home? The answer differs across age groups.One in five parents say they expect their child to own a home by age 25, yet this doesn’t match up to reality. Younger adults tend to feel the most pressure to own a home, but they’re still waiting on their own time terms, according to a new survey from Porch.com, a home remodeling website. Porch.com surveyed nearly 1,000 individuals betwee
Consumers with financial or housing questions turn to the internet. In particular, consumers seem to have a lot of questions about income taxes and mortgages.TermLife2Go, a review site, analyzed Google data to find the top questions about money and organized the info by state.Income tax was the most Googled term in 23 states. New tax laws that took effect may be causing the influx in tax questions.New York City is home to more
Bank of America has made several recent moves to reduce the borrowing costs of would-be home buyers who have faced affordability constraints. The bank's latest offer: mortgages with no origination fees for buyers with little savings for a down payment. The promotion is available through Oct. 31.The offer applies only to loans backed by the Federal Housing Administration, Department of Veteran Affairs, Freddie Mac’s Home Possible program, and Ba
This marks the sixth consecutive weekly decline for mortgage rates, leaving some borrowers wondering how low will they go. The 30-year fixed-rate mortgage averaged 3.82% this week, the lowest average since September 2017.“While the drop in mortgage rates is a good opportunity for consumers to save on their mortgage payment, our research indicates that there can be a wider dispersion among mortgage rate offers,” says Sam Khater, Freddie Mac’
Home design reality TV shows may be inspiring more consumers to take on a house flip for themselves. The U.S. home flipping rate reached a nine-year high in the first quarter of this year, ATTOM Data Solutions reports.In the first quarter, 49,049 homes were flipped, representing 7.2% of all home sales during the quarter—the highest home flipping rate since the first quarter of 2010, the report shows. Researchers define a home flip as a property
This website includes images sourced from third party websites including Adobe, Getty Images, and as otherwise noted.
