During the third quarter of 2024, the construction of single-family homes built for rent saw a notable increase compared to the previous year. Builders aimed to provide more rental options as mortgage interest rates remained high. Data from the National Association of Home Builders shows that around 24,000 single-family built-for-rent (SFBFR) homes were started in this period, marking a 41% rise from...
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In October, existing home sales climbed from a 14-year low, marking the first yearly increase in over three years. This rise happened as buyers took advantage of mortgage rates that briefly hit a two-year low at the end of September, as reported by the National Association of Realtors (NAR). While home prices remain high due to existing homeowners keeping their low-rate mortgages, we anticipate an uptick...
With housing inventory low and mortgage rates high, buyers are becoming more selective, often favoring homes that are move-in ready and exude what is known as the “cute factor.” Here are five essential renovation tips every homeowner should consider to ensure a top-dollar sale in a competitive market. 1. Curb Appeal First impressions are everything, and buyers often fall in love with a home within...
Deciding to buy a new home is a significant milestone that involves weighing both emotional and financial factors. Whether you’re considering upsizing, downsizing, or moving due to a Permanent Change of Station (PCS), understanding the signs that it might be time for a new home is crucial. Here are five indicators that suggest it may be time to start searching for your next home. Permanent...
Selling your home for cash can offer a faster, simpler alternative to the traditional real estate process. Whether you need to sell quickly, prefer to avoid the complexities of mortgage financing, or are simply exploring your options, selling for cash might be the right choice for you. This guide walks you through the benefits, potential drawbacks, and key steps to finding a reliable cash buyer. Benefits...
Buying and selling homes simultaneously can be a rewarding but complex process. While it’s a great way to move into your next dream home, several financial and logistical factors must be considered to ensure a smooth transition. One of the most important considerations is managing the mortgage on your current home while preparing for a new one, as holding two mortgages can strain finances until your...
In July, existing home sales saw their first rise in five months, according to the National Association of Realtors (NAR). A 1.3% increase in sales brought the seasonally adjusted annual rate to 3.95 million units, marking a potential shift in the market as inventory levels improved slightly and mortgage rates began to decline. However, despite this increase, sales remain sluggish, and low inventory...
Once you’ve purchased a home, staying informed about its value is crucial for making smart financial decisions. Whether you're considering refinancing, selling, or borrowing against your home’s equity, knowing how the market values your property can guide these choices. Below, we explore four reliable methods for assessing your home's worth and offer tips to unlock even more value. 1. Online...
When it comes to home staging, the pros know how to make a space look luxurious without spending a fortune. Whether it's to make your home feel more inviting, elevate its aesthetic appeal, or prepare it for the real estate market, home stagers and interior designers have plenty of tricks to make a home look more expensive. Fortunately, many of these techniques are budget-friendly and easy to replicate....
Buying a home is a major milestone and a significant investment. Every homeowner knows the importance of protecting that investment, but many may not realize that homeowners insurance doesn’t cover everything. According to a 2024 study by the Consumer Federation of America, while 12 in 13 homeowners in America have homeowners insurance, only 4% have a home warranty. This gap in coverage can leave...