New Record: Home Prices Rose 19.9% in July
A price increase of almost 20% year-to-year is unheard of – until now. Home prices hit record highs in 19 of the 20 cities included in monthly Case-Shiller reports.
State-Run Insurer Considering 3 Ways to Trim Policy Numbers
Citizens, the state-owned property insurer, is expected to have 1M policies by 2022. It’s looking at new tactics that could force covered owners to get private coverage.
What Is Gentrification – and Why Is It Good or Bad?
It means a neighborhood is changing from low-income to trendy. It’s good for early buyers, but it’s bad for lower-income owners who can no longer afford to live there.
NAR: Vacation Homes Will Defy Any Market Slowdown
While overall home sales show signs of cooling as prices rise and buyers step back, NAR Economist Yun doesn’t see that reflected in sales of vacation homes.
Sound More Confident by Avoiding These Phrases
Here’s one: “Sorry,” often used as “Sorry to bother you, but …” If you often offer an unnecessary apology, it makes you sound somewhat timid.
Renters Uncertain About Their Future
Low interest rates and a severe shortage of homes for sale are contributing to rising costs for renters and would-be homebuyers, even as more rental homes are sold.
Many Overly-Confident Sellers Price Their Home Too High
Homeowners have read bidding-war stories and heard about homes selling for thousands of dollars more than asking price. Now they’re becoming sellers and think they can overprice their property, but the market is seeing more price reductions – 9.4% in Aug., says Zillow, up from 8.6% in July.
A Sept. 30 Government Shutdown Could Impact Real Estate
If Republicans and Democrats fail to reach agreement by Sept. 30, some services – such as NFIP, IRS and more – could slowly shut down, possibly delaying transactions.
Homebuying, Stress and the Things Couples Fight About
Couples may happily disagree in life, but when they have to share a home the differences can come to the forefront. The top reason for a fight? A home’s price.
August New Homes Sales Rise for Second Straight Month
U.S. Commerce: Sales of new homes last month were up 1.5%, reaching a seasonally adjusted annual rate of 740,000 – more than economists expected.