Certain home sales of $400,000 and below will no longer require an appraisal, under a new rule that takes effect today. Homes that qualify for the appraisal exemption can receive an evaluation instead.This is the first time in 25 years that federal regulators have increased the property value limit of the homes that require an appraisal as part of the selling process. Federal regulators cited price appreciation in residential real estate transact
Calif. Gov. Gavin Newsom signed into law this week a measure that would cap rents throughout the state, a move that the real estate industry has warned could have dire long-term consequences.The law limits annual rent increases that landlords can enact on tenants in the state to 5% after inflation. The new limit will take effect in January.Lawmakers said the rent cap was driven by skyrocketing affordability in the state. Fifty-five percent of ren
Mortgage denials have fallen to the lowest rate since the financial crisis and dating back to 2004, according to data from the Home Mortgage Disclosure Act. Still, that doesn’t mean all borrowers on the path to homeownership will qualify for financing. Nearly one in 10 borrowers get denied for a mortgage, according to a new analysis from LendingTree.LendingTree researchers analyzed more than 10 million applications available through the Home Mo
Homeowners can do plenty to spruce up their home and make it more enticing for buyers. But when they're narrowing their list, what are a few quick fixes that can have a big impact? Besides a fresh coat of paint, Redfin highlighted some additional ideas on its blog, including:Update the door.A new front door can be a cost-effective update that can make a big difference, real estate pros say. “Solid wood doors are always a classic style
Eighty percent of homeowners anticipate taking on a home improvement project in the next year, and more than 70% of that group plans to do the work themselves, according to a new survey from Chase Home Lending. The top motivators for sprucing up a home include adding value to the property, creating a comfortable space for family and entertainment, and accommodating a DIY hobby, the survey of 1,000 homeowners found.“More and more, homeowners are
Home shoppers are increasingly sizing up the yard space of homes they’re considering purchasing. The top outdoor features they’re eyeing include the deck, entertainment space potential, and size of the front yard.However, the reality that many consumers are facing is that most new homes have less yard space. Having more space for a larger home is one reason. But a fallout from higher costs of lots and rising
The kitchen continues to gain popularity as a multifunctional and social space, and its design is increasingly reflecting that, according to Cosentino Group’s newly released “2019 Global Kitchen Study,” a reflection of worldwide trends in kitchen design. The study compiles findings from a survey of kitchen studios around the world and insights from design experts.“While losing its nature as a purely ‘culinary’ space, the kitchen
The National Association of REALTORS® has named five real estate professionals as its 2019 Good Neighbor Award winners, spotlighting the practitioners’ impact on their communities through volunteer work. Five honorable mentions also have been named. The honorees represent many noble causes, from housing homeless military veterans to fundraising for new treatments for sick children.This year marks the association’s 20th celebrating the Good N
The living room—that main gathering spot in a home—is a critical part in your showings. Home stagers recently chimed in at Apartment Therapy with their favorite tips for creating a better-staged living room.One of their biggest pieces of advice centered on the tendency to cram too much furniture into one space. Ensure the living room has proper flow with sizable walkways among furnishings. Nathan Thompson with Pavilion Broadway, a luxury inte
Despite some pushback against the open floor plan, it remains a popular layout concept for younger buyers and homeowners. Forty-three percent of millennials say they want a completely open plan for their family and dining rooms, a higher share than any other generation, according to research from the National Association of Home Builders.However, the desire for an open layout tends to drop with age: Only 40% of Generation Xers, 37% of baby b
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