Builders added fewer homes to the pipeline in February, but the National Association of Home Builders says the numbers may be misleading about the extent of the actual shortfall.Total housing starts plunged 8.7 percent in February to a seasonally adjusted annual rate of 1.16 million units, the U.S. Commerce Department reported Tuesday. (The annual rate is the number of housing units builders would begin if they kept pace for the next 12 months.)
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Beloved household animals can leave behind smells that could turn off potential buyers when a home is for sale. Homeowners—who may have become “nose blind” to the smells—may want to take a few steps to remove any lingering smells prior to their first showing. Here are a few tips from HouseLogic.com, a home improvement resource:Start scrubbing.Scrub the bare floors and walls where pets have left their mark with vinegar, wood floor cleaner,
Affordability is a driving factor when purchasing a home for retirement, says Danny Goodman, COO of 55places.com, a resource for active adult communities in the U.S.“Whether retirees are looking to stay close to family, move to a warmer climate, adopt a low-maintenance lifestyle, or join the camaraderie that comes with active adult communities, the small towns recognized here offer practical options and attractive amenities at a reasonable pric
The Federal Housing Administration has announced tighter lending standards, which could put up to 50,000 mortgages in jeopardy annually. The FHA insures mortgages for first-time home buyers and often borrowers with low credit scores and high loan payments relative to their incomes. The clampdown is on lending rules that the FHA believes are allowing too many risky loans to be approved.The FHA says it will begin to flag more loans a
Homeowners are getting richer. In the fourth quarter of 2018, about one-quarter of all properties with a mortgage were considered “equity rich,” meaning the amount owed on the property was 50 percent or less of the home’s estimated market value, according to research from ATTOM Data Solutions, a real estate research firm.Some home sellers are deciding it’s a good time to cash in. Sellers in San Francisco saw the highest gains at sale
Lower mortgage rates are making for a rosy spring selling season, even if the economy is starting to show some sluggishness, economists note in Freddie Mac’s March forecast.“The real estate market is thawing in response to the sustained decline in mortgage rates and rebound in consumer confidence—two of the most important drivers of home sales,” says Sam Khater, Freddie Mac’s chief economist. “Rising sales demand coupled with more inv
Many housing markets have recovered since home prices plunged during the housing crisis more than a decade ago. HSH.com’s Home Price Recovery Index—which culls data from the Federal Housing Finance Agency’s Home Price Index—shows which markets have fared best since the crisis ended.The 10 metro areas that have recovered the most are:1. Denver-Aurora-Lakewood, Colo.: 88.28% (amount above previous peak)Peak value: $276,000Current value: $51
Mortgage rates edged lower to kick off the start of the spring homebuying season this week. Borrowing costs are now lower than what they were a year ago.“Mortgage rates have dipped quite dramatically since the start of the year and house prices continue to moderate, which should help on the home buyer affordability front,” says Sam Khater, Freddie Mac’s chief economist. “The combination of improving affordability and more inventory than t
The number one obstacle facing home shoppers this spring is their own budget, according to a new study from realtor.com®. Nearly half of home buyers this spring say they’re looking for homes priced at or under $200,000—the segment of the housing market that has seen the largest year-over-year declines, according to a recent survey by realtor.com®, based on responses from about 1,000 buyers who plan to purchase a home in the next 12 months.
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