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A growing number of Americans who lost their homes to foreclosure or a short sale during the housing crisis are re-emerging in the housing market and buying a home again, USA Today reports. “Boomerang buyers,” as they’re nicknamed, are coming back, and some economists contend they are a critical component to driving a big uptick in the housing market over the next few years.“I think the next phase of the housing recovery will be
Photos often make the first impression for your listing. That’s prompted real estate professionals to carefully scrutinize their listings’ online presentation to make sure their photos are giving off the right vibe.The extra attention is understandable: 87% of home shoppers say they relied on photos to help make their decision on whether to buy the property, according to surveys by the National Association of REALTORS®. Professionally photog
Mortgage rates have slowly been inching up over the past month, but they remain below their levels a year ago.“Despite the recent rise in mortgage rates, both existing- and new-home sales continue to show strength—indicating the lagged effect of lower rates on housing demand,” says Sam Khater, Freddie Mac’s chief economist. “This, along with improved affordability, should push housing activity higher in the coming months.”Freddie Mac
Affordability and a good job market are the two chief influencers for moving millennials, according to the National Association of REALTORS®’ new report “Most Popular Areas for Millennials: Where They Move and Stay.” Millennials, those between the ages of 21 and 38, account for 37 percent of all home purchases—making up the largest buying force in the housing industry, according to NAR.Other Key Findings on Millennial MoversOne out of 2
Renters aren’t always honest with landlords. For example, nearly a quarter of renters recently surveyed admitted to not disclosing a pet to their landlord—their top lie. They also were prone to not telling their landlord that they broke household items when moving out or that someone else was living in the home who wasn’t on their lease, according to a new survey from Porch.com, a home remodeling website.Porch.com surveyed 563 renters and 5
A Native American group in Utah is suing the U.S. Department of Housing and Urban Development over its newly issued down payment assistance rules for Federal Housing Administration mortgages. The groups argue that the new rules are unlawfully targeting Native American tribes and bands by prohibiting them from participating in home-purchase assistance programs.The Cedar Band of Paiutes, the Cedar Band Corporation, and the CBC Mortgage Agency filed
Economists are sounding more upbeat toward the housing market this year. Realtor.com® has revised its 2019 housing forecast, reflecting optimism for a much stronger market. Lower mortgage rates are mostly behind the shifts in attitude.Realtor.com® economists are projecting mortgage rates to average 4.5 percent by the end of the year—nearly a percentage point lower than they originally forecasted. The lower mortgage rates are increasing buyers
Working with tenants is stressful, landlords agree. Eighty-eight percent of landlords recently surveyed say they have experienced some stress renting out their properties, yet 80 percent say the money from being a landlord is worth the stress, according to a new survey from Porch.com, a home remodeling website.Nearly 49 percent of landlords say they’ve had a tenant ask to break a lease early; 45 percent have had to evict a tenant; and about 41
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