Although adjustable-rate mortgages are known to be riskier than their fixed-rate counterparts, some home buyers may want to consider them as interest rates keep on rising. So-called ARMs typically come with a lower initial interest rate than a 30-year fixed-rate mortgage will start with, with the rate subject to change after a defined period of
Zillow expects housing market to return to normal in 2024
April 4, 2022 by
The U.S. housing market is all set to return to “normal”, as in, how it was prior to the pandemic, by the end of 2024, according to a panel of housing market experts surveyed by Zillow and Pulsenomics. In the most recent Zillow Home Price Expectations survey, Zillow noted that the declining supply of homes
Mortgage rates rise again, sending borrowing costs up
April 2, 2022 by
Mortgage rates have risen again for the fourth successive week, and have now jumped more than 90 basis points in the last month. Rates have jumped from 3.76% to 4.67% in just March alone, significantly increasing the borrowing costs for buyers, Nadia Evangelou, senior economist and director of forecasting at the National Association of Realtors,
For more renters, ADUs are becoming a viable option
April 1, 2022 by
As the shortage of housing stock continues unabated, the profile of so-called accessory dwelling units, which are small homes that share a plot of land with larger, single-family homes. Sometimes called “granny flats”, ADUs are generally around 1,200 square-feet or less and provide a viable, low-cost alternative living accommodation for both renters who cannot afford
Buying a home this year? Here’s 3 ways you can sweeten the deal
March 31, 2022 by
As we head into the spring buying season, traditionally the busiest time of the year in the U.S. housing market, buyers are faced with the prospect of scant inventory and strong demand for the few homes that are for sale. As a result, those who are absolutely determined to move may be tempted to go
House prices rose by more than most people’s annual income last year
March 30, 2022 by
The term “household income” was given new meaning in 2021 as a banner year for home appreciation found houses themselves earning more than the median worker in major metros across the country, according to a new study by Zillow. “More than anything, 2021 was a year of haves and have-nots, and the chasm between the
Government announces new plan to eliminate appraisal bias
March 29, 2022 by
A White House task force has presented a plan that it says will root out racial and ethnic bias in home appraisals. The five-step action plan announced by the Property Appraisal and Valuation Equity task force last week is designed to increase accountability and oversight, and includes steps for both home buyers and homeowners to
9 Types of Real Estate Marketing Materials That’ll Help You Sell More Homes
March 28, 2022 by
If you’re a real estate agent, then you know that marketing is key to your success. Without effective marketing, it’s tough to sell homes. That’s why it’s important to have a variety of real estate marketing materials at your disposal. This blog post will discuss nine types of real estate marketing materials that are guaranteed
New home sales slip as builders fail to meet demand
March 28, 2022 by
Sales of new homes dipped in February amid shortages of both building materials and labor. Those challenges also impacted on new home supply, which remains tight as ever. While demand from buyers remains high, builders are struggling to add more inventory of new home sales. Data from the U.S. Census Bureau and the Department of
Survey shows pets can make a home more appealing to buyers
March 25, 2022 by
Many people believe that having pets in the home may be off-putting for prospective buyers, but in actual fact, the opposite appears to be true. Some home shoppers may even find a home more appealing if pets are living there, a new study from Quicken Loans has revealed. According to the study, 79% of home
