The first half of 2019 surprised housing markets across the country: Mortgage rates fell. That’s the opposite of what the experts had predicted at the beginning of the year, and it is welcome news for home buyers, sellers and homeowners. Millions of owners could benefit from refinancing at these unexpectedly lower rates. In other ways, housing forecasters’ predictions for 2019 were correct. Buyers are still competing for a short supply of homes, but the market isn’t quite as tilted in favor of sellers as it … [Read more...]
Fancier Kitchens, Higher Budgets: Homeowners Want to Renovate
June 6, 2019 by Leave a Comment
Source: “Houzz & Home Survey,” Houzz (June 5, 2019) | Realtor Magazine The kitchen is often considered the centerpiece of a home, so it’s not surprising that it tops most homeowners’ renovation lists. Homeowners are spending more to outfit their kitchens, too. Kitchen remodel spending jumped 27% in the past year, reaching a median of $14,000 on upgrades, according to a newly released Houzz & Home survey of more than 140,000 homeowners. After the kitchen, the next biggest … [Read more...]
Phoenix leads US in population growth, new Census data shows
May 28, 2019 by Leave a Comment
Phoenix is the fastest-growing city in the country, according to newly released estimates from the U.S. Census Bureau. Phoenix welcomed 25,288 new residents between 2017 and 2018 — more than any other American city. Phoenix remains the fifth most-populous city with a population of 1,660,272, according to Census data. San Antonio, Texas (20,824 new residents); Fort Worth, Texas (19,552); Seattle (15,254); and Charlotte, North Carolina (13,151) rounded out the top five fastest-growing cities by raw population … [Read more...]
16 Ways To Tell If That Fixer-Upper Is Flipworthy
April 11, 2019 by Leave a Comment
1. It Makes Financial Sense to Buy It Before investing in a fixer-upper, do some quick math to make sure that it will actually be a good investment. “There’s a crude rule of thumb in the flipping world called the ‘70 Percent Rule’ — never pay more than 70 percent of the [after repair value], minus repair costs,” said Brian Davis, real estate investor and co-founder or SparkRental. “Thus, if the ARV is $200,000, and the repair costs are $50,000, a flipper shouldn’t pay more than $90,000 for … [Read more...]
Why you should sell your home in 2019
April 2, 2019 by Leave a Comment
Few people are predicting that 2019 will be a record-breaking year for home prices. But relatively speaking, 2019 might be the best time for you to put your house on the market. Especially if you’re on the fence about selling this year or next, Nick Ron, CEO of House Buyers of America, recommends going with the devil you know rather than the devil you don’t. “I think it’ll be better than 2020 and 2021 – who knows what’s going to happen in those years,” Ron says. Home price growth slowed in … [Read more...]
The 4% Mortgage is Back
March 29, 2019 by Leave a Comment
Mortgage rates are fast approaching 4%, a rate low enough that economists and lenders believe it will help jump-start the housing market again. The average rate on a 30-year fixed mortgage fell to 4.06% this week, its lowest since January 2018, according to data released Thursday by Freddie Mac, the mortgage-finance giant. The rate was down nearly a quarter point from a week earlier, its biggest drop in over a decade. In many cases rates are lower than 4%. Lenders advertising mortgages at sub-4% rates this week … [Read more...]
What the Rise of Phoenix’s Housing Market Says About the U.S. Economy
December 6, 2016 by Leave a Comment
The rapid rise of a market that housing analysts once thought might not recover for decades demonstrates the strength of the national recovery Phoenix’s battle-scarred housing market is expected to be the strongest in the country in 2017, another sign that the U.S. housing market is returning to full strength. The rapid rise of a market that housing analysts once thought might not recover for decades demonstrates the strength of the national recovery, as home prices this week hit a new record. Jonathan … [Read more...]
Does ‘staging’ a home lure buyers into paying more?
July 19, 2016 by Leave a Comment
By DANIELGOLDSTEIN PERSONAL FINANCE REPORTER Plastic surgery might improve one’s looks. But so might a little makeup. When it comes to making your house more attractive to prospective buyers, home staging is definitely in the makeup category. What is home staging? Just like makeup, it’s an on-the-surface solution. Staging can help your place look its best during the sales period without the cost or expense of a renovation. For about $3,500 to $4,500 a month, the home you’re … [Read more...]
