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If you’ve been looking for a way to get a little money out of your home without actually selling it, you’ve probably come across something called a Home Equity Line of Credit, or HELOC for short (pronounced “heelock”). Clear as mud, right? Now that you’re no doubt wondering what a Home Equity Line of Credit […]
According to a recent survey conducted by ClosingCorp, over half of all homebuyers are surprised by the closing costs required to obtain their mortgage. After surveying 1,000 first-time and repeat homebuyers, the results revealed that 17% of homebuyers were surprised that closing costs were required at all. Another 35% were stunned by how much higher the fees were […]
There is no doubt that historically low mortgage interest rates were a major impetus to housing recovery over the last several years. However, many industry experts are showing concern about the possible effect that the rising rates will have moving forward. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are all projecting that […]
Housing prices today seem to be in the center of many real estate conversations. Experts have weighed in on the price of homes and where they may be headed. That is why we like the Home Price Expectation Survey. Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts, and investment & market strategists […]
The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of the data points that has changed dramatically is the median tenure of a family in a home. Ever wonder how long most people stay in their home? As the graph below shows, for over twenty years (1985-2008), the median tenure averaged […]
You are finally in your new home now. What’s the first thing you should do? The moving frenzy never ends: Even after you close, the to-do lists drag on and on—endless pages of bullet points that keep you up at night when all you want is to begin your new life. Some of them are fun, […]
The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States. Speaking of renting, the updated numbers actually show that the range is an average of 17.4% less expensive in Honolulu (HI), all the way […]
Are you looking to relocate to a new home or purchase a new home? We think it’s best to understand the past, present and future of home prices. CoreLogic released their most current Home Price Index last week. In the report, they revealed home prices appreciation in three categories. The categories ranged from percentage appreciation over the […]
The last two major reports issued by the National Association of Realtors (NAR Reports) revealed information that suggests that now continues to be a great time to sell your house. We all realize that the best time to sell anything is when demand is high and the supply of that item is limited. Let’s look at the data […]
So you made an offer, it was accepted, and now your next task is to schedule the home inspection prior to closing. More often than not, your agent may have made your offer contingent on a clean home inspection. This contingency allows you to renegotiate the price paid for the home, ask the sellers to cover repairs, […]