Nearly half of American homeowners recently surveyed said they would do something differently if they were to go through the homebuying process again, according to the NerdWallet’s Home Buyer Reality Report, which analyzed the steps more than 2,200 Americans took to homeownership.If you want to help prevent buyers’ remorse, the following are some things you can focus on with your clients. These are the top things consumers say they regretted:
In his address to Congress on Tuesday night, President Donald Trump renewed his pledge to rebuild the country's infrastructure, replace the Affordable Care Act, and reform taxes for businesses and individuals—all issues of importance to real estate.Infrastructure The National Association of REALTORS® sees investments in roads, bridges, dams, and other projects as critical to supporting property values. Trump said he will ask Congress to approv
A slight decline in mortgage rates sent total mortgage application volume up 5.8 percent last week on a seasonally adjusted basis compared to the previous week, the Mortgage Bankers Association reported Wednesday. Applications for home purchases, a gauge of future homebuying activity, rose 7 percent, while refinance applications increased 5 percent, reaching the highest level since December.Still, applications should be much higher, the MBA note
More borrowers are choosing non-banks—financial institutions that only issue loans and do not offer savings or checking accounts—to get a mortgage, The Washington Post reports. It's a major shift in borrower behavior. In 2011, 50 percent of all new mortgage loans originated from the three largest banks: JPMorgan, Bank of America, and Wells Fargo. However, in September 2016, that share plunged to 21 percent.During that time, non-banks emerged
With the cost of building materials jumping 25 percent year over year, according to the National Association of Home Builders' NAHB/Wells Fargo Housing Market Index, builders are increasingly concerned about how this will affect home buyers in the new-construction market. In 2016, builders ranked the cost of building materials low on their list of concerns—but now it's one of their top five.The increased cost of lumber is a chief catalyst. "Neg
Millennials have it rough: They're being slapped with a trifecta of housing affordability, credit accessibility, and employment issues, all of which are hampering their ability to buy, according to new report by Bankrate.com. The toughest state of all for millennial buyers may be California, where affordability is low, inventory is severely limited, and workers ages 25 to 34 face high unemployment.Culling data from the National Association of REL
All-cash sales are on the decline, accounting for 32.4 percent of total home sales in November 2016, down 4.5 percentage points year over year, according to CoreLogic's most recent housing data. That's a significant drop from January 2011, when cash sales were at their peak: a whopping 46.6 percent of all home sales nationally. CoreLogic experts predict cash sales will fall to a historical norm of about 25 percent by mid-2017.Cash sales are most
Developers are pouring billions of dollars into giving facelifts to some transit hubs across the country. These improvements are not for expanding traveler capacity but to make these hubs more eye-catching and give commuters a reason to hang out and not just pass through. They're mixing in dining, retail, event offerings, and even the chance to live there.Developers believe that traditional rail and light rail station segments can spur developmen
More high-end home sellers across the country are being forced to offer discounts as the luxury real estate market shows signs of softening, The Wall Street Journal reports."Buyers are very price sensitive," says Donna Olshan, a real estate professional based in Manhattan. "If it's not priced right it's going to sit until the cows come home."Real estate pros and sellers in the luxury market are having to adjust their expectations. In the third qu
MLSListings, a multiple listing service based in Silicon Valley, is staking claim to being the first real estate platform to offer Chinese translation. The MLS says the move was to help remove potential language barriers from the real estate process.MLSListings agents and their clients will now be able to switch between English and Chinese with a click of a button on the platform. Real estate agents also will be able to send translated reports an
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