Housing Market Predictions For 2023
February 14, 2023
Housing Market Predictions For 2023: When Will Home Prices Become Affordable?Robin RothsteinForbes Advisor StaffRachel WitkowskiEditorHousing Market Forecast for February 2023As we begin to move through 2023, housing experts maintain a watchful eye on the economy, which continues to be pulled in all directions by high inflation, steep interest rates, ongoing geopolitical uncertainties and recession fears, to name a ...
Home Sales decreased for last 6 months
February 14, 2023
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Home Buying Checklist
February 14, 2023
Home Buying Checklist:1) Figure out what you can afford.2) Determine and Gather the Down Payment you will need.3) Decide on a lender and get pre-approved.4) Find a good Real Estate Agent.5) Begin viewing homes until you find the perfect home for you. ...
Home Renovation on a Budget — You Got his!
February 13, 2023
Are you tired of looking at the drabby paint on your walls, the outdated cabinets, worn furniture, and stained carpets? Your home is overdue to be remodeled, which is on your wish list. However, you are afraid of what the cost might be. Unless you want a major overhaul, you can still spruce up your home and improve its ...
Home Prices Have Surged 42% in the Last 3 Years
February 13, 2023
February 9, 2023By: Melissa Dittmann TraceyA slowdown is now underway, says NAR Chief Economist Lawrence Yun. But don’t expect to see dramatic price drops.After three years of runaway home prices, buyers may soon find relief. In some markets, they may have already found it.The National Association of REALTORS®’ latest quarterly housing report shows that home ...
Avoid These Common Home Buying Regrets
February 10, 2023
Buying a home is a big decision. And for some recent homeowners, that decision has led to some real regrets—aka “buyer’s remorse.”But what, exactly, is driving that remorse?A recent article from realtor.com outlined some of the most common regrets recent buyers have experienced after purchasing their homes, including:Unexpected repairs. Many recent ...
Winter Home Maintenance Checklist: How to Prepare Your Home For Colder Weather
February 09, 2023
https://www.mymove.com/seasonal-maintenance/winter-home-maintenance-checklist/Winter Home Maintenance Checklist: How to Prepare Your Home For Colder WeatherWinter is coming, which means it’s time to start winterizing your home. Your winter home maintenance checklist will look a little different depending on whether you’re braving temperatures of 10 below or just unpacking a few light sweaters. But even if you’re not ...
MORTGAGE POINTS: WHAT ARE THEY, AND WHEN ARE THEY BENEFICIAL?
February 09, 2023
When interest rates increase, the monthly payment on a home can be significantly higher! But there's at least one way homebuyers can bring the rate down—for a price. What’s a mortgage point?In mortgage lending, the term “point” usually refers to an optional fee you can pay to reduce the interest rate on your ...
Foreclosure Rates for All 50 States
February 06, 2023
Foreclosures drastically increased throughout the nation in 2022. With a total of 248,170 initiated, U.S. foreclosures rose a staggering 169 percent from the previous year.Foreclosure filings, which include scheduled auctions, default notices, and bank repossessions, also rose substantially in 2022. According to the experts at ATTOM Data Solutions, 324,237 properties filed for foreclosure last year, ...
What is the Good Neighbor Next Door Program?
February 06, 2023
Do you think homeownership is out of reach? What if we told you that you could buy a home for half the cost of the listing price and a $100 down payment? You would likely say we’re crazy, but the fact is, buyers eligible for HUD’s Good Neighbor Next Door Program (GNND) can do just that. But ...
Common Seller's Mistakes
January 26, 2023
This list of frequent sellers’ mistakes regarding house listing pricing can help you avoid the pitfalls involved in selling your home. If setting a price was simple and straightforward, you would not need assistance in pricing your home correctly. Save yourself time and money by avoiding these costly mistakes.PRICING MISTAKESThe first several seller mistakes involve the issue of ...
What is a HUD Home
January 23, 2023
What exactly is a HUD owned home and how can I purchase one? A HUD home is a house that has been foreclosed on that had buyers that originally used FHA insured financing to purchase the property. The homeowner could not make the payments for whatever reasons and the lender was forced to foreclose on the house. HUD ...
What You Can Expect From Michigan’s Real Estate Market in 2023
January 18, 2023
January 16th, 2023By BWP As most home buyers know, the real estate market is constantly changing. Are home prices increasing? How many homes are selling per year? When selling, how long can you expect your home to stay on the market? It all can be overwhelming. We’re here to ...
Winter Safety
January 17, 2023
Showing HUD Homes in the Winter Weather:As the weather gets colder, and winter approaches, your way of showing homes and viewing homes will change. If it is dark at 5pm, if you go to see a home at 5:30pm, you will not be able to get a good look at the roof. When viewing a vacant home, ...
2022 Q3 Foreclosure Actvity
January 17, 2023
Rick Sharga, executive vice president of market intelligence for ATTOM, nonetheless pointed out that although foreclosure starts had been rising since the end of the government’s foreclosure moratorium (June 30 for residential mortgages), they were still lagging behind pre-pandemic levels.He said: “Foreclosure activity is reflecting other aspects of the economy, as unemployment rates continue to be ...
5 New Year's Resolutions for your home:
January 16, 2023
1.) Streamline all the stuff in your home2.) Make your home safe for others including your pets3.) Shrink your bills by going Green inside and outside of your home4.) Work out a weekly chore chart for everyone in the home including the kids 5.) Keeping your home always ready for entertaining makes life easier ...
Investor Series – Land Contracts
January 15, 2023
This is another submission in our ongoing series of investor articles. Today we’re going to talk about Land Contracts.Land Contracts are a type of financing where the owner agrees to sell you their land (and all the improvements on it) over time. The owner basically is the bank and you can take possession of ...
referring a lender?
January 13, 2023
Many times during the home buying process, buyers will not have a lender or a pre approval. They may ask assisstance in selecting one.Best practice in this case, if buyers ask, is to refer them to at least 2 lenders. They can also be referred to their current bank, mortage holder if they already have ...
Buying a HUD Home #1
January 13, 2023
Buying a HUD Property Number 1by Tom Nelson HUD Licensed Listing Broker (LLB)There are as many misconceptions people may have regarding HUD properties as there are questions that should be answered. The following is a short version of things to know about HUD properties.What Exactly Are HUD Properties?When a person buys a home and applies for ...
Alternate parking spots for $$$$
January 13, 2023
It's no secret... real estate is one of the best investments you can make. As the market has cooled off to different degrees across the country, there will be more opportunities in the near future. What if there aren't any deals to be had in your neck of the woods right now? If you are stashing ...
Homeownership Changes Lives - Long Term Benefits Of Homeownership
January 13, 2023
According to Selma Hepp, Economist at CoreLogic, “For many households, home equity is the only source of wealth creation. As a result, recent record gains in equity and record declines in loan-to-value ratios will provide many owners with a financial bufer in case economic conditions worsen. In addition, record equity continues to provide fuel for housing demand, particularly ...
Possible Hidden Costs When Selling A Home.
January 13, 2023
When you need to sell your house because you’re in a financial bind, the added burden of hidden costs can feel overwhelming. We're sharing the top five hidden expenses to expect when selling your home traditionally.1. Real Estate Transaction FeesReal estate transaction fees add up! There are more fees than just the realtor’s commission. We ...
Homes still selling fast
January 13, 2023
Per the National Association of Realtors: "The housing market has slowed this year. But while the home buying frenzy of 2021 has passed, that does not mean good homes are sitting on the market unsold. In fact, most homes sold in November were on the market less than a month, with the typical property on the market just ...
2023: The year of the turning point!
January 13, 2023
Data shows that the housing market may turn aroundat the beginning of the new year.Pending home sales – a leading indicator for home sales- fell again in October 2022. Nevertheless, contractsignings fell slower than the previous month. While ittakes one to two months for a home sale to complete,this could mean that we may see more housing ...
U.S. mortgage rates decline to 6.42%, first drop in three weeks
January 12, 2023
(Bloomberg) — US mortgage rates retreated for the first time in three weeks, helping provide a modest lift to refinancing activity.The contract rate on a 30-year fixed mortgage decreased 16 basis points to 6.42% in the week ended Jan. 6, according to Mortgage Bankers Association data released Wednesday. That helped boost applications for refinancing, which rose 5....
