“first-time buyers want a home that meets their needs now AND in the future…” The “starter home” trend may be fading in real estate. Prior to the housing bubble, first-time buyers with average incomes would shop for a more affordable, smaller house with the idea of moving on to a larger home in a few […]
Home Sales Would Be Higher If …
“13 percent more consumers looking to purchase a home but there are 5 percent fewer homes for sale…“ Homes are selling at the fastest rate since 2007, but sales could be even higher if not for the ongoing lack of inventory in many markets, notes Jonathan Smoke, realtor.com®’s chief economist, in his latest column. Forty percent […]
Luxurious Master Bathrooms In Oxford MI
“the master bathroom is becoming a real point of focus…” A growing number of home owners are opting for more luxurious bathrooms over sprucing up other rooms in the house — even kitchens, according to the American Institute of Architects’ 2016 spending projections. “The master bathroom is becoming a real point of focus, and since it’s […]
Quicken Loans In Metamora Quietly Offers 1% Down Loans
“so the client has 3 percent equity immediately…” Quicken Loans has been fairly hush about its latest offering of a super low down payment mortgage, even as rival bank giants like Bank of America, Wells Fargo, and JPMorgan Chase all tout their new 3 percent down mortgage products. But late last year, Quicken Loans quietly […]
Mortgage Rates Near All Time Lows
“mortgage rates have now dropped 15 basis points over the past two weeks, leaving them only…” Mortgage rates hit a new 2016 low this week, and they’re also nearing the lowest averages ever recorded. Freddie Mac reports the 30-year mortgage rate is close to the November 2012 record low of 3.31 percent. “Continuing fallout from […]
5 Tips To Help Save For a Down Payment
“a down payment is often the largest single payment a consumer makes in their lifetime…” Saving for a down payment can pose one of the biggest challenges for potential home buyers. Indeed, “a down payment is often the largest single payment a consumer makes in their lifetime and saving for it isn’t easy,” says Corey […]
Lapeer Housing Affordability Is Improving, slightly
“nearly one in five U.S. housing markets was not affordable by historic standards” … Eighteen percent of U.S. housing markets were less affordable than normal in the second quarter of 2016. That’s down slightly from affordability levels a year ago, when 20 percent of markets exceeded their normal affordability levels according to RealtyTrac. Their housing […]
Home Sales At Highest Pace In 9 Years
“this spring’s sustained period of ultra-low mortgage rates has certainly been a worthy incentive to buy a home, but the primary driver”… All major U.S. regions except the Midwest saw an uptick in existing-home sales last month, the National Association of REALTORS® reported Wednesday. As tight inventories continue to plague many markets, the median sales […]
This Summer, Lake Orion Homes Are Selling Faster
“Continuing this spring’s trend, pent-up demand from buyers who weren’t able to purchase a home”… Homes for sale in June are selling 2 percent more quickly than last year as prices soar to record highs, according to new data on inventory and user activity on realtor.com®. The median age of inventory nationwide for June is […]
Residential Home Sales and Average Sale Prices Still Soaring, July 2016 Report
Homes for Sale & Sold Report for July 2016 August 17, 2016 Residential Home Sales and Average Sale Prices Still Soaring! Residential Real Estate Rally Continues as Average Sale Price Hits $191,000 Average residential and condo sales are down 5.7%, average residential and condo sale prices are up 6.3%, total number of listings on market […]