Spring may have already sprung in the housing market. List prices have begun their traditional spring climb, reaching the median high from last summer of $275,000, realtor.com® reports.“Rapid mortgage rate jumps, and confirmation of a brighter economic outlook have inflated the pool of home buyers early in the year, putting an extra squeeze on the mid- and entry-level market,” says Javier Vivas, director of economic research at realtor.com®
Many markets are rising above their previous peaks, and the Great Recession is now far in the rear-view mirror. But that’s not the case for every market. In some places, home prices continue to lag, even seven years after bottoming out. CoreLogic’s newly released report, “Evaluating the Housing Market Since the Great Recession,” examines the bust years between 2006 and 2011 and subsequent recovery in the housing market.The Great Recessio
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Find the weak spots. Conduct a safety audit on your properties to find the most susceptible points of entry. In-window air conditioning units, fire escapes, and dark entryways are all common entry points for burglars, according to Ooma. Motion sensor alarms are one option for securing these areas. Secure ground level windows and patio doors. A simple yet effective way to add peace of mind is to make sure there’s a security bar or metal
Buying a home is a lot easier in some areas of the country than others, where the inventory of affordable homes is greater and where their salaries can stretch further. Allentown, Pa.—boasting the highest homeownership rate in the nation in 2017, at 73.1 percent—is one such place. The median home list price in Allentown is $217,050, well below the national median of $274,900, according to realtor.com® data.The town, about an hour outside of
A brief pause in the rise of interest rates helped buoy mortgage application volume last week, following several weeks of declines. Total mortgage applications for home purchases and refinancings rose 2.7 percent compared to the previous week, the Mortgage Bankers Association reported Wednesday. Applications, however, are 2.4 percent lower than a year ago.The bulk of last week’s increase was driven by home buyers. Mortgage applications to purch
The average estimated tax refund is expected to be $2,840 this year, down slightly from $2,895 the previous year. First-time home buyers, in particular, often say saving for a down payment is their biggest hurdle to homeownership. As such, the tax time may be the perfect moment to remind clients that their refund may come in handy ahead of the spring market.Last year, the median down payment was 10 percent, according to the National Association
Contract signings posted a major setback in January, sinking to the lowest level in more than three years. But it’s not from a lack of interest. Buyer traffic is reportedly up in most areas of the country in January, according to the latest housing report released by the National Association of REALTORS® on Wednesday.NAR’s Pending Home Sales Index—a forward-looking indicator based on contract signings—dropped 4.7 percent to a reading of
The Mortgage Bankers Association is raising issues with a new analysis distributed by an activist group that claims widespread racial disparities in mortgage lending. The MBA says the study fails to consider the real issues behind why minority lending tends to skew lower than whites.MBA President David Stevens in a blog post calls discrimination in any way unacceptable and acknowledges that members of minority communities are being denied mortgag
Recent news stories about active shooters, vehicle accidents, and explosions can leave you wondering how safe you are at the office or out in the field. Known as “mass casualty events,” these unthinkable scenarios can easily happen with inadequate escape paths in buildings, inattention to identifying threats, and poor communication among those involved and affected. So what can property managers and brokers do to prepare their teams for the u
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