Last week’s economic news included readings from Case-Shiller Home Price Indices, sales of new homes and pending home sales. FHFA increased maximum loan limits permitted for mortgages held or guaranteed by Fannie Mae and Freddie Mac. Weekly readings for mortgage rates and first-time jobless claims were also released.
Case-Shiller Indicates Slow-Down in Home Price Growth
Home prices slowed their growth in September according to Case-Shiller. David Blitzer, CEO and Chairman of S & P Dow Jones Indices, said “Home prices plus data on house sales and construction confirm the slowdown in housing.
Obstacles facing home builders have caught up with high builder confidence according to the National Association of Home Builders Housing Market Index for November. Builder confidence dropped eight points to an index reading of 60, which was the largest month-to-month drop in builder confidence since 2014. November’s decline in builder confidence was greater than the largest month-to-month decline during the housing crisis.
Housing Market Index readings over 50 are considered positive, but analysts said that long-standing headwinds caught up with home builders’ outlook on housing market conditions and sub-categories used to comprise the overall Housing Market Index reading.
Buying a foreclosed home is easy, right? After all, they sell for pennies on the dollar, right? Well, that could be a false assumption. Buying a foreclosed property appears easy on TV, but in reality, it can be overwhelming.
Foreclosure sales continue to decline in the market from 38.6 percent in 2011 to 14 percent in 2017 but ticking up a bit in 2018 according to Attom Data Solutions, a national property data company. As foreclosure sales drop, competition for these properties become stiffer and more complex. And as home prices increase in most cities, buyers often turn to foreclosures as affordable alternatives for landing their dream home.
Foreclosures usually occur when homeowners can no longer pay their mortgages and the mortgagees seize the properties. Once former owners vacate the properties, lenders typically put it on sale at discounted price or auction to the highest bidder.
The emergence of sustainable energy and products have solidified the go-green movement. Solar energy and electric cars are just the tip of the iceberg.
The impact of products on the environment has become a significant measure about their value. Those same principles are also being applied to homes. Smart homes and energy efficiency have a direct correlation to home values and listing prices. That’s why homeowners and home builders alike have an eye toward sustainable trends. These are some of the top-ranked home trends.
It can be a stressful experience to put your home on the market and wait for offers in the hope that you've priced it right. However, for those who are considering selling to family members, the sale of a home can be fraught with just as much stress before and after sealing the deal. If you're wondering if it's a good idea to sell to a family member, here are some things to consider beforehand.
Picture yourself out for a drive one weekend. You see a sign that says:
New Construction Homes! Models Starting At $XXX,XXX Next Right!
Maybe you’re actively looking for a house, or maybe it’s just a spur of the moment urge, but you follow the signs to the model home. You park. You walk into the model home. The builder’s sales rep asks you to please sign in. You sign in. Ouch. You may have just made a costly mistake...
Most people don’t think twice about signing in when they visit a model home. They figure, what’s the harm? It isn’t like I’m signing something to actually buy one. I just want to take a look, and it’s not like they’re asking me to sign my life away. But sometimes you do end up buying one. You get the bug. You fall in love. You picture yourself in this lifestyle. Next thing you know, you’re making an offer on the spot. Or, maybe you leave, but you can’t stop thinking about it the whole ride home so you decide you’re going to buy one. Either way, if you decide to buy one, having signed in with the builder, you may have signed away your right to involve your own real estate agent represent and advise you.
Under Montana law 33-25-105 & 111, “Title insurance policy” means a contract by which, subject to its stated terms and conditions, a title insurer insures or indemnifies the insured against loss or damage sustained by reason of:
A title insurance policy is not an abstract of title or representation as to the condition of title to the stated property.
According to the NerdWallet's Home Buyer Report, 82% of millennials say buying a home is a priority—but saving for a down payment can be a challenge. According to a recent article from Redfin, the top concern among first-time millennial home buyers is saving for a down payment. Instead of delaying the process though, this younger generation is just doubling down on their saving efforts.
Homeowners are well aware that peripheral costs swell over time and can put a strain on incomes. Utility bills increase, home insurance creeps up annually and taxes rise with the cost of schools and road repair.
That’s why many communities have enacted homestead exemptions that can help stabilize and even lower tax bills in some cases. Although these exemptions are not well publicized, knowing how they work and how to apply could save you a good deal of money.