Tagged : homebuyer

Found 8 blog entries tagged as "homebuyer".

In 2020, Americans spent $420 billion remodeling their homes, according to a new report by The National Association of REALTORS (NAR) and The National Association of the Remodeling Industry (NARI.) They remodeled to upgrade outdated worn-out surfaces, finishes and materials (30%), add features and improve livability (20%), and just enjoy a change (16%.)   While most consumers (83% of those surveyed) said they would have remodeled regardless of the pandemic, most found that they were happy with the results (57%), satisfied (39%), and felt a sense of accomplishment (69%).  

Homeowners reported that the best results from remodeling were better functionality and livability (35%), durability (22%), and beauty (14%). A whopping 84% of homeowners said

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Do you need a home inspection when you buy a condominium or a co-op? According to BrickUnderground.com, home inspections are common for single-family homes, but they’re also increasingly being requested by urban homebuyers of condos and co-ops. Condo and co-op owners share common spaces such as elevators, lobbies, parking, and grounds, but where they differ is who’s responsible for maintenance and what the inspection can cover.   

Condos are privately-owned units within a community of other privately-owned units, explains Bankrate.com. Owners share common areas, but inside their apartments, they own the air space and interior walls of their units plus the structural components of the exterior walls. Condos are managed by a homeowner’s association

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If you’re a homebuyer without a home to buy, the ongoing housing shortage is making housing to buy less affordable by the day. Certain factors should change with time, which should provide you with a better chance to buy a home in mid-to-late 2022.

One factor that helped fuel the current housing market boom was record low interest rates. According to the latest weekly Mortgage Bankers Association survey, the average contract interest rate for a 30-year fixed-rate mortgage (FRM) under $647,200 was 5.20% with 0.63 points. That’s a quick rise from the record low recorded by Freddie Mac in December 2020 of 2.68% for the same FRM loan.  As a borrower you could ask your lender about a hybrid mortgage that gives you a lower adjustable rate for a fixed

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According to EyeonHousing.com, half of owner-occupied homes were built before 1980. That could be just one of many reasons why many homebuyers and homeowners are going more “retro” in their decorating styles. Retro pieces of furniture, art, and accessories, whether antique, reproduction or derivative, can bring unique personality to any home.

TheSpruce.com explains that home décor has always mixed the old with the new. Retro is widely thought to mean Mid-century design, but it can also include nods from other eras, including Art Deco and Modernism from the 1920s to the 1940s. Both post-war, these modernistic motifs reflect large lifestyle changes, and are based in the joys of progress and optimism for the future.

Art Deco décor: The 1920s was a

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Housing was one of the strongest sectors of the economy for 2021, but rising interest rates and inflation are causing many to wonder if sales will continue as strong in 2022.

Lawrence Yun, chief economist for the National Association of REALTORS, believes the number of home sales will decline in 2022 but will still outpace pre-pandemic levels, based on continuing demand from homebuyers. More inventory is becoming available from home builders and from homeowners who will no longer receive loan forbearance and may decide to sell their homes instead. 

Goldman Sachs economists predict that home prices will climb another 16%, reports Houwzer.com. Yet, Corelogic has lowered its forecast from 2.2% to 1.9%, according to Fortune.com. Fannie Mae is

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Whether you plan to buy a single-family home, condo, or townhouse, buying in a
new development can cause years of issues if you don’t choose a property with a
solid, reputable home builder.

It’s exciting to consider buying new construction, a brand-new home suited to
your specific needs and taste. Yet unlike the resale homes, there are no previous
owners to provide disclosures detailing issues with construction, lot, or property.
In this case, one is relying on the builder to provide a high-quality home in both
construction and materials.

As with any home purchase, doing your homework ahead of time can save you
thousands of dollars over the long run. Start by researching the builder of the
subdivision. Check for other projects, both current and past.

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First-time homebuyers are struggling to find affordable housing. Unlike recent years when inventory was high and finding a great home was easier, now buyers are faced with either postponing homeownership or making compromises. It may feel hard to compromise, but it’s important to remember that this is your first home, not your dream home.

If you are faced with making decisions about what to give up when buying a home, here are 3 compromises that make sense, and 6 things not to.

3 Compromises

1. Yard Size – Outdoor space is wonderful, but if price is an issue, find a home close to a park or other common area.

2. Turnkey Design – Paint, fading carpet and other cosmetic issues can be addressed over time.

3. Extra Living Space – Consider

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Everyone expects to sign a contract when choosing a listing agent to help them sell their home. They understand that the agent needs to be protected as they spend out-of-pocket, upfront costs for marketing and other expenses. But often homebuyers are surprised when their buyer’s agent presents them with an exclusivity contract before taking them out to see homes. What is it, and should you sign it? This first question is, why would a buyer’s agent want to have a contract with a homebuyer anyway? The answer is simple; unlike other professions, real estate agents are paid only when a transaction is closed through a commission. All costs, including time and gas, are paid upfront.

This means that they are taking time to show you homes and negotiate on

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