General News - Real Estate, Updates, News & Tips

Borrowing Costs Move Lower This Week

Mortgage rates edged down for the second consecutive week, a temporary reprieve from what had been weeks of rising rates."After absorbing a mixed December jobs report; the 10-year Treasury yield fell 8 basis points,” says Sean Becketti, Freddie Mac’s chief economist. “The 30-year mortgage rate moved in tandem with Treasury yields falling 8 basis points to 4.12 percent, the second decline since the presidential election. The December jobs re

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Millennials Are Missing Out on Home Equity

The delay of millennials into homeownership will likely affect their finances for years to come. Real estate wealth has proven to be a major contributor to the financial wealth of previous generations.Indeed, “the most impactful contributor to consumer wealth since the great financial crisis has been growth in home equity,” says Brad Friedlander, managing partner at Angel Oak Capital Advisors. “Similarly, there has been a growing wealth gap

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Lenders Aim for 21-Day Closing Window

In an era of bloated closing times, some lenders are looking to quicken the pace it takes to get a buyer to the settlement table. Some lenders are retooling operations and aiming to close a loan within 21 days.For example, national retail lender CrossCountry Mortgage Inc. in Brecksville, Ohio, is committing its staff to aim to close a purchase loan from application to funding within 21 days."When you look at contracts, they are typically written

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The 10 Safest Cities in the U.S.

The safest cities in the country tend to also have strong employment, top-notch school districts, and a higher quality of living, according to a new report released by NeighborhoodScout.“The same trend continues to play out across the country, one that highlights a contrast between coveted bedroom communities and struggling inner and industrial-satellite cities,” says Andrew Schiller, CEO and founder of Location Inc. and NeighborhoodScout.

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REALTORS: 5 Ways to Up Your Facebook Popularity

Many real estate professionals leverage Facebook for keeping in touch with clients. It’s no wonder why: Facebook has more than 1 billion daily active users. But with so many posts competing for your network’s attention, how do you get them to notice you and engage with you more?Forbes.com columnist Mike Templeman recently offered up several ideas, including:Share more content: Gather and share the best content related to your industry from ot

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REALTORS: Help Clients Keep Rising Rates in Perspective

Since the presidential election, mortgage rates have risen from 3.5 percent to about 4.2 percent, increasing the borrowing costs of would-be home buyers.The rates are rising on the expectations of greater business activity and a stronger economy. But the good economic prospects may come at a price to home buyers.Nevertheless, make sure your clients keep perspective. In the 1970s, the average 30-year fixed-rate mortgage was 8.9 percent; in the 198

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MILLENNIAL BUYERS: We’ll Compromise

Millennial first-time homeowners are showing more willingness than previous generations to complete do-it-yourself projects around the house or wait until they can afford to make the improvements they desire, a new survey by Better Homes & Gardens magazine shows. Fifty percent of those surveyed say that at move-in, their current home’s conditions require some degree of repair or remodeling.They’re showing some compromise in their first ho

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How Old Is Your State's Housing Stock?

The nation’s housing stock is quickly aging. The median age of an owner-occupied home rose to 37 years in 2015, up from 31 years a decade ago, according to the latest data from the 2015 American Community Survey. As of 2015, more than half of the housing stock in the U.S. was built prior to 1980. Thirty-eight percent of the homes were built prior to 1970. Meanwhile, homes constructed after 2000 comprise 19 percent of the housing stock.“This h

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Where Land Surpasses Property Values

In some markets, the land is more valuable than the home that stands on it.Case in point, in San Francisco’s Sunset District, a fire destroyed a home for sale leaving it inhabitable. Despite that, last February, the home sold quickly for just under $1 million. Seven months later, the home was transformed into a four-bedroom home and sold for $1.77 million.In San Francisco, land is a premium, and buyers often pay more for the land than the home

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VALENTINE: Give a Unique Gift this Valentine's Day!

Now's the time to start on your own personalized song for your Valentine. Consider this unique gift that y'all will enjoy for a lifetime!Currently on sale for only $49! Includes custom written lyrics along with a vocal and guitar (at minimum) recording burned to CD and framed. Place your order before it's too late!

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