Homebuying Frenzy Continues Despite Obstacles
Wits’ End would make an appropriate name for a new subdivision in today’s wild housing market. While there’s not yet such a place on the map, many would-be buyers are quickly running out of patience.
How to Trim Your Buyer’s Closing Costs
You’ve scrimped and saved, and you finally have enough money for a decent down payment. But do you have enough to cover your closing costs, too?
Help for Down Payments Available
The Build Back Better legislative package championed by President Joe Biden contains billions for down payment assistance. But rookie buyers don’t have to wait for Congress to act – if it ever does.
The Quest for More Square Footage Continues
In the hunt for more space, houses are being built larger, with more amenities packed both inside and outside their walls. Last year, the average new house was 2,561 square feet.
Post-Surfside Rules Create Condo Financing Problems
Buyers in some buildings may soon be finding it difficult to secure financing because of new rules regarding deferred maintenance, structural issues and underfunded reserve accounts.
New Ways to Build Take Center Stage
Houses made out of Lego blocks? How about affordable homes built from 3D printers? All of these ideas and more have moved off the drawing board and into the marketplace.
Why Some Owners Are Staying Put
New affordability estimates show why so few houses are on the market: Owners who might want to sell may not be able to afford to buy another house. Even if they could find one.
These Days, Buyers Must Be Careful
Amid a white-hot housing market, over 100,000 rookies have joined the real estate industry to cash in on what they think is an “easy money” market.
Can You Buy a House with Crypto? Some Lenders Say ‘Yes’
Homebuyers who have dabbled in cryptocurrency should know that some lenders will allow you to use those assets – with a proviso – as part of your down payment when applying for financing.
Take Equity Without Refinancing
With loan costs rising to their highest levels in more than two years, time may have run out on many homeowners thinking about refinancing. But could they turn to HELOCs to pay for things like renovations, instead?
Sell Now, Buy Later One Option for Homeowners
For homeowners thinking about cashing in on today’s blistering housing market, the situation has become something like a cat chasing its tail.
Green Sometimes Raises Red Flags When It’s Cash
Roughly 1.21 million residential real estate sales were likely processed without any money laundering reporting. FinCEN wants to put a dent in that figure, and has named Boston as a region of concern.
Weather Weighs on Insurance, Home Lending Decisions
The cost of homeowners insurance is on the rise, and not just because property values went up – almost 20 percent across the board – during last year’s homebuying frenzy.
Triple Whammy Slows Homebuilders
Homebuilders are an optimistic bunch. They normally purchase land or finished lots, spend thousands on lumber and myriad other materials, and start putting up houses – often before the first customer walks in the door. That’s not the case now, though, and hasn’t been for months.
Report Calls for End of Commission ‘Price Setting’
Real estate commission rates are just one step below fixed, according to a new report from the Consumer Federation of America. And rising home prices are handing ammunition to those who say that has to change.
Expect New Homes to Keep Getting Bigger
Square footage always increases in slow markets when the only people buying new houses are middle- and upper-income earners. But when the market speeds up, builders try to go smaller in an attempt to capture a larger share of sales.
Second Home-Shopping Season Starts Now
If the winter holiday season now begins with Halloween, and the Super Bowl kicks off the spring homebuying season, when do people begin looking in earnest for second homes?
Tales from the Realty Trenches
Not all real estate deals go smoothly. Something almost always happens, whether something funny, sad or completely weird. I’ve been collecting tales like these for years. Here are some of the better ones.
If It Smells, It Won’t Sell
There’s an old adage in real estate: “If it smells, it won’t sell.” And thanks to the pandemic, there are growing numbers of pets – and their smells – in houses hitting the market.
It Pays to Heed Performance Dates
If you think the slog of going out week after week to find a house, and then beat competitors, is a marathon, get ready for the sprint.
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