Quicken Loans, the nation's second largest retail mortgage lender, today announced the average appraisal in November was 1.87 percent lower than the value the homeowner expected, according to the company's national Home Price Perception Index (HPPI). The difference between the values was slightly higher in October, making November the third consecutive month the gap between … [Read more...] about Appraised values remain slightly lower than homeowner expectations
Down payments posing a roadblock for renters to become owners
Paying for a mortgage is still more affordable than renting in the U.S., but saving enough money for a down payment has become increasingly difficult for first-time buyers, especially in markets where home values are rising rapidly. With the majority of renters in the largest metros putting about 30 percent of their monthly income toward a rental payment, saving money for a … [Read more...] about Down payments posing a roadblock for renters to become owners
Great learning opportunity for real estate professionals and builders
Tutoring by Engineers is holding two seminars this December in Southampton for real estate brokers, developers, builders, appraisers and others. The Ins and Outs of Pre-Purchase Inspections and Due Diligence in Real Estate Transactions and Everything you ever wanted to know about Affordable Housing (but were afraid to ask). These classes will be given at two convenient times on … [Read more...] about Great learning opportunity for real estate professionals and builders
First-time buyers fall again
The share of first–time buyers declined for the third consecutive year and remained at its lowest point in nearly three decades as the overall strengthening pace of home sales over the past year was driven more by repeat buyers with dual incomes, according to an annual survey released today by the National Association of Realtors. The survey additionally found that nearly 90 … [Read more...] about First-time buyers fall again
Condos are back
Condos are appreciating faster than single-family homes in markets across the U.S., especially where job markets are thriving or urban renewal is underway, according to the third quarter Zillow September Real Estate Market Report. Condos in the U.S. are appreciating at a rate of 5.1 percent, compared to the 3.7 percent appreciation among single-family homes. Condo values … [Read more...] about Condos are back