Luxury Home Buyers Getting Cheaper Loan Rates
Bankrate.com: Last week’s average for a 30-year fixed jumbo mortgage was 4.48% vs 4.95% for a conventional loan. Today, $1M is price of entry in some markets.
Biggest Obstacle to Home Buying? Lack of Affordable Housing
Latest NAR report finds other obstacles vary by race and ethnicity but include saving for a down payment and competing with multiple offers.
Investor Buying Spree May Be Cooling
CoreLogic: Investor activity slowed in 4Q 2021 and more investors appear to be holding on to properties longer. Analysts say summer is the time to watch.
Supercharge Your Agents’ Digital Presence
Agents should have a consistent online presence on social media, take advantage of positive client testimonials and keep marketing design elements uniform.
Migration Driving Uneven Job Recovery
The U.S. has recouped 20.4M or 93% of jobs lost in the pandemic, but the Northeast and Midwest are lagging. Fla. recovered all its jobs lost by Oct. 2021.
Millennials Selling 1st Homes May Lead Inventory Boost
Realtor.com: 64% of possible sellers intend to list their home by Oct.; a majority of these sellers (49%) are ready to swap starter homes for larger ones.
The Rising Homelessness Problem: Baby Boomers
About half of U.S. adults age 55 and older have only Social Security for income, and the rising cost of rent is forcing more of them into the street.
Solution to Stalled Negotiations? A Cup of Coffee
A research study found that people who drink a 12-ounce cup of coffee “showed significantly enhanced problem-solving abilities.”
Sellers’ Market Peak? More Drop Their Asking Price
In April, 12% of sellers dropped their price compared to 9% one year earlier. It’s too soon to call it a trend, but it suggests prices might soon hit their peak.
Canada Considers Ban on Foreign RE Buyers
In an attempt to counteract Canada’s rising home prices, Prime Minister Justin Trudeau has proposed a two-year ban on purchases by foreign investors.