Posts Tagged ‘homeowners’
Housing Market Competition in U.S. Eases This Summer
Homebuyers getting relief as sellers slash their prices at a record rate in mid-2022 Based on new data from national property broker Redfin, after years of tipping heavily in sellers’ favor, the scales of the U.S. housing market are finally balancing out. Soaring housing costs caused many house hunters to drop out in recent months,…
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Mortgage Applications Slightly Uptick in Late June
According to the Mortgage Bankers Association’s latest Weekly Mortgage Applications Survey for the week ending June 24, 2022, U.S. mortgage applications increased 0.7 percent from one week earlier. This week’s results include an adjustment for the observance of the Juneteenth holiday. The Market Composite Index, a measure of mortgage loan application volume, increased 0.7 percent on a…
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Biden Takes Aim at Appraisal Bias, Housing Disparities
The Biden administration is zeroing in on homeownership and small business development as avenues to close racial wealth gaps, announcing a spate of new programs Tuesday aimed at supporting communities of color and disadvantaged neighborhoods. The announcement comes on the centennial of the “Black Wall Street” massacre in Tulsa, Okla., a racist attack on a…
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Here’s how to fight a higher-than-expected property tax bill
If the value of your home ballooned during the Covid pandemic, you may receive an inflated property tax assessment in the mail. There are ways, however, to combat a higher bill, experts say. Despite double-digit growth in single-family home prices, property taxes only increased by 1.8% in 2021, with an average payment of $3,785 annually, according…
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Housing Market Predictions 2022: When Will Prices Drop?
Low inventory, fervid competition and massive price gains have battered buyers since 2020, but now rapidly rising mortgage rates are making it even harder to purchase an affordable home. For many buyers, higher mortgage rates mean they can no longer afford homes in specific price ranges. The problem is that even modest single-family homes cost as much…
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Lead-based Paint Violations Surge in Remodeling Boom
As home remodeling increases, the EPA is warning remodelers to take special precautions in older homes and watch out for lead-based paint violations. Lead-contaminated dust from chipped or peeling lead-based paint in homes built prior to 1978 is one of the most common causes of elevated blood levels of lead in children, according to the U.S.…
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Some Lenders Set to Resume Foreclosures in July
Pandemic-related moratoriums on foreclosures and evictions are set to expire June 30, and some lenders plan to start resuming foreclosures in July. About 2.1 million homeowners are still in mortgage forbearance, according to the Mortgage Bankers Association. As of April, about 1.8 million households who aren’t in forbearance were 90 days delinquent on their loan,…
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What To Do when a tenant stops paying Rent
A Tenant refusing to pay or frequently pays late is considered one of the major issues landlords face. Moreover, it is not just the presence of the issue that’s disturbing yet how costly it is in terms of money and time and for a real estate investor or homeowner time is of the essence. So…
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Buyers Rush to Lock in Low Interest Rates
The spring homebuying market is typically marked by higher sales and a greater number of house hunters, but many real estate professionals feel a spring-like market has been in full swing since the pandemic began a year ago. “There will be no spring homebuying season in 2021, as we’ve been in it the entire time,”…
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Buyers Snatch Up New Listings as Quickly as They’re Available
Home sales could easily be 20% higher if more homes were for sale, says Lawrence Yun, chief economist of the National Association of REALTORS®. Existing-home sales—completed transactions for single-family homes, townhomes, condos, and co-ops—rose 0.6% in January compared to December 2020 and are up nearly 24% over a year ago, the National Association of REALTORS®…
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