Demand for mortgages is on the rise due to what analysts say is an increase in listings on the market and fear that interest rates will continue climbing higher. However, buyers are increasingly turning to adjustable-rate mortgages, or ARMs, as opposed to standard fixed-rate mortgages. ARMs have an advantage in that they offer lower initial
In today’s hot market, not being able to sell is causing lots of embarassment
Reports frequently mention that homes in the U.S. are selling like hot cakes, going under contract within days, or even hours, of being listed, and often for way abve the asking price. But that’s not true for the homes that aren’t selling, and it’s reportedly causing some embarrassment – as well as surprise and anger
Developers say ready-to-move-in turnkey homes are in vogue
Developers say that so-called “turnkey homes”, which are luxurious, fully-furnished and decorated homes that are ready to move in, are what an increasing number of home shoppers are looking for these days. The turnkey home trend is increasingly prevalent in states such as California and Hawaii and in many second-home resort communities, says a report
Pets are influencing Americans’ home choices
More Americans have adopted pets since the COVID-19 pandemic emerged, and those furry friends are having a big impact on the kinds of homes they desire. Home buyers and renters alike are both prioritizing the needs of their pets when looking for a new place to live. According to a 2021 study by the National
Home buyers in Sun Belt cities feel the heat of rising prices
Home prices are on the rise everywhere, but it seems that buyers in Sun Belt cities such as Phoenix, Tampa, Fla.; and Atlanta are having it harder than most as more people from out of town look to move there. Because those cities are popular destinations for people looking to relocate, home prices are not
Despite higher costs, home remodeling projects go ahead
Home improvement projects have gotten more expensive due to forty-year high inflation and ongoing supply chain problems, but people aren’t giving up. A new survey of 1,000 homeowners by Nationwide shows that while 71% of homeowners who have projects planned are faced with higher costs, limited availability of materials and delays, most will still go
Redfin settles digital redlining case out of court
The online real estate brokerage Redfin has agreed to pay $4 million to settle a discrimination lawsuit out of court. The lawsuit alleged that the company failed to provide its brokerage services to homes that were listed below a specific price, a practice known in the industry as “digital redlining”. By settling out of court,