Bidding wars return (7/21/2015)
In many cities big and small across the U.S., a tight inventory of local home listings has made it commonplace to receive offers from multiple buyers.
Ownership benefits go beyond ‘cheaper than renting’ (7/20/2015)
A home brings financial benefits renting does not as an owner builds up equity over time – but it also comes with costs above the monthly mortgage payment.
Survey: First-timers and Hispanics ready to buy (7/14/2015)
A TD Bank study found an uptick in demand, and a significant percentage said they hoped to start the buying process within the next two years.
Setting priorities when searching for a home (7/7/2015)
Buyers generally start with a “wish list” but creating three lists – a “must have,” “want to have” and “can’t have” list – could help speed up the process.
“Artificial amenities” jack up sales prices (7/2/2015)
Study: It’s not just granite countertops and hardwood floors. A $1,000 per-student school funding increase, for example, is worth $570 more each year to buyers.
Serving former and current members of the military (7/2/2015)
The VA loan market has grown over the past few years and become more lucrative for Realtors with a clear understanding of military and veteran housing.
Millennials’ waiting game may be over (7/1/2015)
A survey conducted by realtor.com suggests a short-term spike in demand from young adults who are now more interested in homeownership than they were last year.
The top 3 mistakes made by first-time buyers (6/30/2015)
Some excited first-time buyers miss details or make credit mistakes. “I can afford this house,” for example, differs from “I can afford this house and all ownership expenses.”
Assume you’re overheard on every listing tour (6/17/2015)
Will a home seller hear everything said by you and your buyers inside their seemingly empty house? Maybe. Surveillance cameras can be hidden anywhere.
60% of contracts have issues, but most close on time (6/10/2015)
NAR study: 12% cited some kind of financing problem, 8% home inspections, and 7% appraisals. Overall, 10% of Realtors had a contract that failed to close.
Multiple offers: Tips for buyers making bids (6/3/2015)
Sellers with more than one offer will pick the “best” one. Buyers hoping to win the bid should consider all the variables, such as the amount of earnest money.
Insurance covers skittish buyers afraid of job loss (6/2/2015)
Some potential buyers saw recession-era homes foreclosed because an owner was laid off. They’re holding back now out of fear, but an insurance product may help.
I’d like a real estate closing to go, please (5/27/2015)
A Detroit title company is taking the edge off stressful closings by going mobile and creating an informal atmosphere. One tactic: They serve fresh-baked cookies.
High rents, low rates top draws to owning a home (5/6/2015)
32% of surveyed consumers want to buy soon to take advantage of low rates; 35% say a 30-year FRM above 4 percent would delay their decision to buy.
Fla. Ag commissioner issues moving company advice (5/5/2015)
Adam Putnam advised people relocating to do their research before signing any moving company contract – and make sure the firm is registered with the state.
Why buy a home? The reasons have changed (4/27/2015)
HomeServices study: Post-recession buyers focus less on a home’s size and location; instead, they want personal needs fulfilled as they build wealth.
Home-improvement TV creates unrealistic expectations (4/22/2015)
While many owners now know a lot more about home projects, HGTV and DIY can make it look too easy because they edit out necessary mundane tasks.
Credit unions: A not-so-secret mortgage source (4/20/2015)
A credit union often offers great mortgage terms, but many buyers don’t think they qualify. However, a website will check to see if they’re wrong.
Are women weaker negotiators? Not according to study (4/17/2015)
UF study found that women tend to negotiate better than men, assuming the same level of experience. Men may seem better simply because they negotiate more often.
How do buyers find a good housing counselor? (4/17/2015)
Under Dodd-Frank, mortgage applicants must receive a list of approved counselors and CFPB updated guidelines this week. Searches may also be conducted online.
Fannie Mae announces 3% closing cost aid program (4/15/2015)
Fannie Mae’s HomePath Ready Buyer program will pay up to 3% of closing costs and reimburse the $75 buyers must pay for a mandatory education program.
Secrets buyers should know about new construction (4/13/2015)
A new-home purchase is more complicated and intimidating than most resale transactions, and buyers need a Realtor to represent them in the deal.
Most millennials don’t understand closing costs (3/26/2015)
Survey: Two out of three younger adults don’t understand closing costs – and many don’t even know they even exist. Among all adults, it’s one out of three.
Realtors should serve younger clients differently (3/18/2015)
Survey: Older clients tend to rely on an agent’s real estate advice, but younger buyers prefer to get the info directly from a data source such as websites.
NAR Survey: Younger buyers are taking over (3/12/2015)
The just-released 2015 generational trends study found, for the second year in a row, that one in three 2014 buyers (32%) was a millennial, age 34 or younger.
The hard-to-find niche: relocating first-time buyers (3/11/2015)
The number of buyers springing from corporate relocations is expected to rise, and real estate agents should be ready to identify and serve this buyer niche.
Should brokers disclose buyer offers? (3/10/2015)
As more multiple offers arrive, buyers may ask for more info, such as a peek at competitor’s bids. In most cases, though not all, that’s okay.
Real estate agents want to understand Millennials (2/24/2015)
Millennials communicate differently, and the average 56-year-old Realtor must rethink things like voice messages, which don’t work for this generation of buyers.
Shift mindset when selling to vacation-rental buyers (2/18/2015)
These semi-investment buyers want to factor potential rental income into their purchase decision. It’s a bit more work, but they tend to create more repeat business.
With some buyers, it’s best to cut the cord (2/17/2015)
Realtors must ask themselves if a buyer is worth their time – the chance that it will lead to a paycheck versus the risk of a deal that fails to close.
87% of buyers qualify for some downpayment help (2/4/2015)
RealtyTrac: Every Fla. county has at least 10 downpayment assistance programs, and some have more than 20. In most Fla. counties, 84% to 97% of buyers qualify.
Homebuyers need to act now (2/4/2015)
If predictions of higher mortgage rates and greater demand hold true, a home could cost 10% more if renters wait another year before jumping into the market.