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Renovations And The Cost Of Selling

It isn't just the home's buyer who has to settle up at the end of the closing process, sellers have costs too. In fact, according to one recent estimate, the average seller spends $15,000 before they hand over the keys to their home's new owner. A big part of that is closing costs, agent commission, and any repairs required following the home's inspection. But another chunk of that is renovations done before the sale. In fact, a large majority of homeowners fix up their homes before putting them on the market. Things like having the home painted, cleaned, and staged can add up ...

May 30th, 2017 | housing market, Housing Outlook, Housing Shortage, Mortgage Rates, New Home Buyer, Renovations And The Cost Of Selling

Today's Typical Home Sells In Less Than A Month

Home buyers are out in large numbers this spring. Proof of that can be found in the most recent sales report from the National Association of Realtors. Their monthly tally of how many previously owned homes sold the month before found that the typical home for sale was on the market for just 29 days in April, down from 34 days the previous month. That's a strong indication that buyer demand is outpacing the number of homes for sale this spring. And that's saying something, especially since April saw a 7.2 percent increase in for-sale inventory by the end of the month. In other words, t...

May 26th, 2017 | housing market, Housing Outlook, Housing Shortage, New Home Buyer, Today's Typical Home Sells In Less Than A Month

Rents Are Increasing In the Suburbs Too!

There are two groups commonly associated with renting. One is young people. The other is people living in urban centers. Conjure up an image of the typical renter and you'll probably end up imagining someone in their 20s living in a downtown apartment building. The suburbs, on the other hand, have been traditionally thought of as the place you move to when you're ready to settle down and buy a house. However, new numbers tell a different story. In fact, the latest data shows rental costs are actually rising faster in the suburbs than in cities. Why? There are a couple of reasons. First...

May 25th, 2017 Rents Are Increasing In the Suburbs Too!

Housing Outlook Sees Reason For Optimism!

 Over the past few years, a pattern has emerged:The economy slows during the first quarter then begins to rev up during the second quarter. Now, according to Fannie Mae's Economic & Strategic Research Group, we may be on pace to see the same thing this year. But what will that mean for the housing market and hopeful home buyers and sellers? Well, according to Fannie Mae's chief economist, Doug Duncan, it means things will continue to move forward – although gradually. “Positive demographic factors should continue to reshape the housing market, as rising employment ...

May 24th, 2017 | New Home Buyer, Housing Outlook, Mortgage Rates, Housing Outlook Sees Reason For Optimism!

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