WASHINGTON – Homebuyers are putting down more money than ever to soften the blow of high mortgage rates, and in some cities, $400,000 down payments are now the norm. The typical down payment for U.S. homebuyers hit a record $67,500 in June, nearly 15% higher than a year earlier, according to a new Redfin analysis. … Read more
In making renovations, homeowners need to strike a balance between personal tastes and features that could appeal to buyers. NEW YORK – Home improvement trends come and go. The wildly popular open floor plan concepts that have dominated homeowners’ desires over the past decade-plus could be falling out of favor. Rachel Stults of Realtor.com linked … Read more
Seniors looking to downsize may have an emotional connection to a home, so agents should work with patience, empathy and understanding. NEW YORK – The National Association of Realtors®’ 2023 Profile of Home Buyers and Sellers found that baby boomers aged 59 to 77 are among the homeowners downsizing, accounting for 45% of home sellers … Read more
Buyers in Florida’s bigger metros gained an upper hand in July 2024, Zillow said. Nationwide, homes have been lingering on the market longer compared to last year. SEATTLE – Competition for homes and price appreciation tapered off faster than normal in July as high housing costs continued to stymie shoppers, according to the Zillow market … Read more
Buyers may hear they need a 20% down payment to buy a home, but that’s not set in stone. Many mortgages require as little as 3% or 3.5% and some have no minimums. SOUIX CITY, Iowa – You might have heard you’ll need a 20% down payment to buy a home. While there’s a reason … Read more
That’s the lowest level since early Feb., easing borrowing costs for prospective homebuyers facing record-high home prices. The average 15-year FRM fell to 5.99%. LOS ANGELES (AP) – The average rate on a 30-year mortgage fell this week to its lowest level since early February, easing borrowing costs for prospective homebuyers facing record-high home prices. … Read more
The Florida Realtors legal team has released updated listing agreement forms and buyer representation videos to help Realtors prepare for settlement requirements. ORLANDO, Fla. — Florida Realtors® is committed to supporting you through the latest National Association of Realtors® settlement requirements effective August 17. We’re excited to announce new resources to help you stay compliant … Read more
NEW YORK – In most service-oriented industries, customers want to work with professionals who can prove they’re up to the task, whatever it may be. Customers want to understand what they’re paying for, and professionals must be able to articulate their expertise. This is – and has always been – true in real estate, but … Read more
Buyers shouldn’t wait for mortgage rates to drop dramatically this year, experts say. Rather, they can benefit from the wider selection of homes on the market. LOS ANGELES – The housing market shows few signs of busting out of its three-year funk after a disappointing spring season and amid a gloomy outlook for the summer … Read more
NEW YORK – When we saw that rent at our current apartment would go up by several hundred dollars if we re-signed our lease this summer, my roommates and I knew it was time to start searching for a new place to live. We knew what we could afford between the three of us, and … Read more
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