Home buyers who don’t gather more than one quote when shopping for a mortgage may be losing out on some savings to their monthly payments.Lenders can offer a wide dispersion of rates, up to 50 basis points or 0.5 percent, after controlling for factors like the borrower’s down payment and credit score. That could be the difference between a 3.5 percent versus a 4 percent mortgage rate, according to a recent study by two economists at the Consu
The U.S. homeownership rate was 63.6 percent in the first quarter of 2017, barely budging from last quarter’s reading of 63.7 percent, the U.S. Census Bureau reports.After reaching a cycle low of 62.9 percent in the second quarter of 2016, the homeownership rate appears to be stabilizing. The ownership rate, however, still remains way below the 27-year average rate of 66.1 percent.The homeownership rate increased among all age groups in the fir
For the first time in five weeks, average mortgage rates reversed course and edged up.“The 10-year Treasury yield rose about 10 basis points this week,” notes Sean Becketti, Freddie Mac’s chief economist. “The 30-year mortgage rate moved with Treasury yields, rising 6 basis points to 4.03 percent. Despite recent swings in mortgage rates,t he housing market continues to show strength—both existing- and new-home sales in March exceeded
Homeowners who sold in the first quarter realized an average price gain of $44,000 since purchase. That represents an average 24 percent of return on the purchase price, which is the highest average price gain for home sellers in terms of both dollars and percent returns since the third quarter of 2007, according to ATTOM Data Solutions’ First Quarter 2017 U.S. Home Sales Report.“The first quarter of 2017 was the most profitable time to be a
Today is Arbor Day, the perfect time to send clients information on landscaping that can boost their home’s value and reduce energy bills.The U.S. Forest Service Pacific Northwest Research Station says that planting a tree in front of a house increases the home’s sale price by an average of $7,130. So, in essence, money can grow on trees.Planting a tree on the west side of a home can reduce a home’s energy bills 3 percent within five years
Facebook is changing the way real estate agents find leadsKey Takeaways Facebook search can target leads with keywords. Facebook Ads are a gold mine for lead generation.As real estate agents, we invest a lot of time and money trying to convince people to buy what we’re selling. Unbeknownst to many of us, there are hundreds of potential homebuyers in the untapped well that is Facebook.… And almost no agents are reaching out to them.Whether the
Put in the work, get quality quotes and find a way to substantiate your valueKey Takeaways Counter offer presentations can be simple requests for price movements or they can position the other party to be compelled to adjust their position on price due to indisputable data presentation.Your responsibility includes securing the most advantageous price possible for your client. Causal counter offers may get the deal to close, but are they really ge
Do you talk about how great you are in your listing presentation? You might be doing it all wrong
A local REALTOR® association in Indiana is stepping up efforts to arm its members with safety tools and knowledge after a real estate agent in the town of South Bend was beaten and raped inside a vacant home last week. The agent, who has not been named, was taking interior photographs of a listing around 12:45 p.m. April 20 when a masked man came into the house and attacked her, according to police and media reports. The man fled the scene befor
Pending home sales took a slight dip last month due to a dearth of homes for sale, the National Association of REALTORS® reported Thursday. The South was the only major region of the U.S. to see an increase in contract signings last month.Despite last month’s national dip, pending home sales still remain elevated overall, posting the third best reading in the past year, according to NAR’s Pending Home Sales Index, a forward-looking indicator
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