High demand for homes for sale mixed with low inventories is prompting bidding wars. Thirty-seven percent of properties that closed in March sold at or above the list price, according to the March 2018 REALTORS® Confidence Index Survey. That's higher than a year ago, when 35 percent of properties sold at or above the list price.“Buyer demand continues to outpace the supply of homes being listed for sale in the market, sustaining the upward p
Civil rights advocates have filed a lawsuit against the Department of Housing and Urban Development, accusing the agency of not following a rule intended to prevent segregation. The federal lawsuit names HUD Secretary Ben Carson.In January, HUD postponed an Obama administration rule—the Affirmatively Furthering Fair Housing rule—that required communities that receive funding from the agency to submit fair housing assessments. Those assessment
Homeowners are less likely to get a rude awakening when going through the mortgage process, according to the latest Quicken Loans Home Price Perception Index. Owners’ perception of home values are now the closest to being in line with appraisers’ than in more than three years.In April, appraised values were just 0.33 percent lower than what homeowners expected. Further, only five of the 27 metro areas analyzed in the index had appraisals lowe
Remodelers report that growing labor shortages are delaying projects and increasing the amount they have to charge homeowners, according to the National Association of Home Builder’s Remodeling Market Index survey for the third quarter of 2017. Those needing a carpenter may find the most trouble; 91 percent of remodelers reported shortages of labor in carpentry work.More than half of remodelers surveyed reported shortages in 12 of the 15 remode
Mortgage rates dropped last week, but that didn’t seem to push homeowners or home buyers to take advantage. Total mortgage applications—for home purchases and refinances—dropped 0.4 percent for the week. Volume is now 6 percent lower than a year ago, the Mortgage Bankers Association reported Wednesday.Refinance applications, which tend to be the most rate-sensitive, dropped 1 percent last week and are now 18 percent lower than a year ago. M
About MeganI am a Long Beach local. I work with excited first time buyers, families moving up or down and homesellers in the Long Beach, Compton, Carson, Lynwood, Gardena, Downey areas. I'm happy to help you.iPro currently deals throughout the states of California, Texas, Florida and New York. We continue to strive and broaden opportunities for real estate professionals and consumers. Visit www.iprore.com for the latest information and li
Millennials who delayed homeownership following the Great Recession are now finally entering the market in bigger numbers. They comprised 36 percent of home buyers last year, up from 32 percent in 2013, according to the National Association of REALTORS®. But they’re trying to make up for lost time by skipping over the starter, entry-level home and heading right into buying larger, pricier homes that they plan to stay in longer, USA Today rep
California is on the brink of making solar standard on every new home built in the state. The California Energy Commission is set to vote on Wednesday on new energy standards that would require most new homes to have solar panels installed starting in 2020.If approved, solar installations will skyrocket in the state. Currently, just 15 to 20 percent of new single-family homes have solar facilities, Bob Raymer, technical director for the Californi
For homeowners considering a move, some experts are recommending they get a home maintenance inspection before they list their home for sale. Such an inspection can provide a full picture of any repairs that need to be done before they become negotiating points in a transaction. A home maintenance inspection is similar to a home inspection that is done by buyers, says Frank Lesh, president of the American Society of Home Inspectors. A licens
Optimism for selling a home has helped propel a housing confidence index by Fannie Mae to an all-time high last month. Fannie Mae’s Home Purchase Sentiment Index rose 3.4 points in April to a record 91.7. Last month’s survey posted increases in five of six components that set out to measure Americans’ perceptions of the housing market. Consumers were also upbeat about home prices, job security, and their own personal finances.“The lates
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