When it comes to selling a house, many individuals mistakenly presume that merely affixing a “For Sale” sign is sufficient. In fact, the most pivotal element in the home selling process is establishing the right asking price. Joel Berner, a senior economist at Realtor.com, articulates that pricing your home appropriately from the get-go can prevent
Real Estate
In the wake of the Trump administration’s aggressive cost-cutting measures, the Federal Housing Administration (FHA) stands on precarious ground. With potential layoffs looming, tens of thousands of federal employees have already faced job losses. Antonio Gaines, president of the American Federation of Government Employees National Council 222, warns that while cuts at the FHA may
The mortgage market is no stranger to volatility, but recent data reveals a remarkable resurgence in loan applications, ignited largely by a noticeable dip in mortgage interest rates. A staggering 20.4% increase in total mortgage application volume last week compared to the previous week signals a renewed confidence among homeowners and potential buyers. The Mortgage
In December, the landscape of homebuying shifted significantly, revealing a stark reality that 81% of potential homeowners view down payments and closing costs as substantial barriers. According to a recent analysis by Redfin, the median down payment rose to an eye-watering $63,188, marking a significant 7.5% increase from just a year prior. With the median
Neodesha, Kansas, is a microcosm representing the plight of many small towns across the United States. Once thriving due to its status as an oil hub, the town of around 2,100 residents now grapples with the ramifications of economic shifts that have sidelined communities like itself. Its most iconic structure, a 65-foot oil tower, stands
The mortgage landscape has been nothing short of a battleground lately. With interest rates consistently hovering above 7%, would-be homeowners are finding themselves priced out of the market. This trend, combined with rising home prices, paints a grim picture for the housing market in January 2024. In fact, pending sales—the lifeblood of future closings—took a
In an unexpected twist in the housing market, mortgage interest rates have plummeted to a two-month low of 6.88%. Despite this enticing figure, indicative of softening economic pressures, the demand for mortgages has not only stagnated but has actually dipped by 1.2% according to the Mortgage Bankers Association. It’s baffling why consumers are opting out
The rental market has undergone a seismic shift, leaving many renters scrambling for viable options. With single-family homes seeing a staggering 41% increase in median rent prices since the pre-pandemic days, the dream of finding affordable housing is rapidly evaporating. This reality is not just a statistic; it reflects an unsettling trend that impacts numerous
The landscape of American homebuilding has taken a troubling turn. As reported in February, sentiment among single-family homebuilders has plummeted to a fraught level of 42 on the National Association of Home Builders’ Housing Market Index (HMI). This sharp decline, down five points from January, reflects a significant drop in optimism within the industry that
In an unsettling turn of events, the U.S. housing market is languishing under the weight of unresolved issues, making it increasingly inaccessible for potential buyers. Those looking to become homeowners now confront a dismal landscape characterized by exorbitant mortgage rates that refuse to yield despite repeated monetary policy adjustments. With rates hovering above 6%, many
The wildfire season in Los Angeles has undeniably underscored a growing crisis: the profound impact of climate change on real estate values. While the recent blazes have ravaged vast landscapes and threatened lives, their implications extend far beyond immediate devastation. The anticipated rise in insurance costs and subsequent dips in property value are merely the