Household Mortgage Debt
Some homeowners have recently done a “cash out” refinance and have taken a portion of their increased equity from their house. Others have sold their homes and purchased more expensive homes with larger mortgages. At the same time, first-time buyers have become homeowners and now have mortgage payments for the first time. These developments have caused concern that families might be reaching unsustainable levels of mortgage debt. Some are worried that we may be repeating a behavior that helped...
Read MoreHome Appraisals
What Is a Home Appraisal Based on? A home appraisal is a complex procedure for determining the value of a home, which is an important number for homeowners and potential buyers alike. Trained and certified appraisers look at several factors to determine a home’s value, including its permanent fixtures and the land it sits on. As homes change hands and values change over time, there’s always a need for new, accurate appraisals. Physical Factors Many of a home’s physical...
Read MoreNew Home Construction
Thinking of Building your “new” home? Buying a new home is exciting. You get to build your dream from the ground up, choosing your lot, your model, interior finishes and upgrades. But like any home purchase, buying new construction is serious business, an expensive transaction with many financial implications – current area comps, long-term value, lot position, area utility, “included” features and upgrades that add Value (& ROI), loan options and more all require...
Read MoreStudy: FSBOs Net ‘Significantly’ Lower Profits
For-sale-by-owners tend to sell their homes for lower prices than homes sold through traditional agents via the MLS, and in many cases below the average differential represented by the prevailing commission rate, according to a new study by Collateral Analytics. The study examined the price differences between homes sold through traditional agents versus those sold by FSBOs from 2016 to the first half of 2017. Some homeowners may be tempted to try to avoid commission costs to a broker and try...
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