What homeowners, renters, millennials and boomers are regretting (or not) about their most recent home decisionKey Takeaways Homeowners regret not choosing a larger home, while renters wish they'd taken the leap to buy. Parents and high-income respondents were more likely to report regrets.Do you know if that buyer you helped find a house last year is really happy with her choice … or do you think she feels like she settled for less?According
What seems like a convenient and easy solution masks some serious drawbacksKey Takeaways Instant home purchase offers aren't designed to benefit the homeseller; they are designed to benefit the investor or company. Sellers are positioned to get low offers and still pay fees at or above an agent's fees.Sue stood in her parents’ San Diego garage, overwhelmed by the years of stuff they’d accumulated and the volume of repairs needed. Add to that
Not every improvement made to a house will ultimately raise its value. Homeowners who are looking for projects that will pay back at resale would be smart to consult a local real estate professional to determine whether the project they have planned would help boost their home’s value. Home office remodels.More people work from home nowadays, but that doesn’t mean they necessarily want a dedicated office. As such, investing more than $2
Owners believe their homes are worth an average of 1.7 percent more than what appraisers say, according to the latest Quicken Loans National Home Price Perception Index. Appraiser and homeowner value opinions did narrow slightly in July for the first time in seven months. In June, consumers estimated their homes to be worth an average of 1.93 percent higher.That schism could cause trouble for your next transaction.“While a 1 or 2 percent diff
Total mortgage application volume for refinancings and home purchases tumbled last week, plunging 7.4 percent from the previous week, the Mortgage Bankers Association reported Wednesday. Rising mortgage rates were the likely culprit, as they increased by the largest amounts since November 2016.“Rates continued to increase last week, given increasing evidence that the Fed and other central banks are more likely to raise rates,” says Michael Fr
Real estate professionals see a lot of dumb reasons why home buyers ultimately end up losing out on a deal. Practitioners recently shared some of the more common mistakes with realtor.com®, including ways to correct the situation:1. Shopping outside their price range.“It sounds obvious, but some home buyers just have trouble sticking to a budget,” says Benny Kang, a real estate professional in Irvine, Calif. Shopping online may increase the
The tiny home movement—homes that often fall within the 100- to 400-square-foot range—is becoming more trendy as owners are drawn to the homes’ minimalism and sliced costs. But buyers may not want to count on cutting their savings by purchasing a tiny home.A tiny home usually has more costs up front. If you build it yourself, the average cost is about $23,000, according to The Tiny Life. This usually doesn’t include the land price
As home prices rise, fewer homeowners are underwater, or owing more on their mortgage than their home is currently worth. In the first quarter of 2017, 350,000 borrowers regained equity, which dropped the total number of underwater owners to 1.8 million, according to the latest Mortgage Monitor Report from Black Knight Financial Services, a real estate data firm.The population of underwater homeowners has dropped by nearly 1 million borrowers sin
The wave of expenditures home buyers make after purchasing a property provides an economic boost to local markets and supports new goods and services, a new study shows. In the first year of homeownership, a new owner will spend about $10,601 on appliances, furnishings, and home improvement projects, according to an analysis by the National Association of Home Builders.Homeowners in the first two years of ownership spent an average of $4,500 m
The 30-year fixed-rate mortgage this week made its biggest increase since March, moving closer to a 4 percent average, Freddie Mac reports.“Global interest rates turned up sharply over the last week,” says Freddie Mac chief economist Sean Becketti. “The 10-year Treasury yield was no exception, increasing 10 basis points in a holiday-shortened week. The 30-year mortgage rate followed suit, rising 8 basis points to 3.96 percent.”Freddie Mac
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