The median down payment on a single-family home or condo in the fourth quarter of 2017 was $18,000, up 20 percent from $14,950 a year prior, according to a new report by ATTOM Data Solutions. The 2017 figure represents 7.1 percent of the median sales price of the home purchased, up from 6.2 percent in the fourth quarter of 2016.Among 143 metro areas analyzed, the top five cities where residents paid the highest down payments in the fourth quarter
Tom Ferry says love your leads and they’ll love you backBe honest. Do you treat every lead the same way you do your best client? If you said yes, you’re either incredibly rich or a great liar.The incredibly rich know they need to love on every lead.I want to give you the Day 1, Day 2, Day 3 and Day 29 tactics our coaching members use to wow every person they connect with — and earn 10X the industry average.As a video-first coaching company,
Your buyers found the home of their dreams. They’ve started packing. Then, something pops up that could stall the sale. In today’s market, finding a home is only the beginning. There are often stumbling blocks along the way.Here’s how to keep common real estate mistakes from killing the deal.No one divides the fixtures Sales can falter because of disagreements over silly stuff — like who keeps the fireplace screen, the wall sconces or th
Be careful: You may be under surveillance when touring a property. Some sellers are using surveillance cameras inside their home to record the sight and sound as prospective buyers walk through.The increase in these home recordings—many from security systems that owners already have installed—are raising some concerns surrounding privacy in real estate transactions, MarketWatch reports.Jill Comfort, a real estate pro in Phoenix, told MarketW
Homeowners with mortgages have seen their equity increase 12.2 percent year over year, according to CoreLogic’s newly released Home Equity Report. Homeowners gained more than $15,000 in home equity between the fourth quarter of 2016 and the fourth quarter of 2017—the highest growth in home equity in four years, according to the report. Western states saw the largest increases.“Home-price growth has been the primary driver of home-equity wea
Following nine consecutive weeks of increases, borrowers finally got some relief this week with mortgage rates. The 30-year fixed-rate mortgage posted its first week-over-week decrease of 2018.“Tuesday’s Consumer Price Index report indicated inflation may be cooling down; headline consumer price inflation was 2.2 percent year over year in February,” says Len Kiefer, Freddie Mac’s deputy chief economist. “Following this news, the 10-year
Replace lightbulbs. The typical American household spends 5 to 10 percent of its energy budget on lighting alone, according to the DOE. Replace incandescent lightbulbs with LEDs, which on average are 85 percent more energy-efficient. You can shave $100 a year on your energy costs by making the switch.Unplug. Leaving cellphones, TVs, computers, and other electronic devices plugged in can continue to pull power from the grid. That can add up over
Your clients may want to request a loan officer to be present on closing day. It may make for a better settlement day, a survey shows.Loan officers aren’t required to attend a settlement, but when they don’t show up, borrowers tend to be less satisfied. When loan rates and fees are as expected but the loan officer does not come to the closing, borrowers’ satisfaction drops, according to the MortgageSAT’s National Benchmark, based on more
Last week, we introduced the 50 finalists vying for a spot in REALTOR® Magazine’s 2018 class of 30 Under 30. Now you can learn more about each of these extraordinary young professionals in their online profiles and help one of them win the Web Choice Award and land a spot in the final group of 30.The voting period is now open and will close at noon CDT on Friday, March 23. Members of the public can log in and “like” their favorite candida
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