Home Buyers

Tag: real estate

Five Important Things to Consider When Renovating Your Home

While it would be nice to think that you can simply find your dream home on the market, one that doesn’t need any repairs or improvements, the fact is that almost any property you can find will need renovations at some point. However, if you are not careful, your renovations could cost you more than just the price of hiring a contractor. Here are five important things you should consider when you are renovating your home:

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As Home Prices Rise, House Listings Follow to Meet Demand

Home prices have risen to their highest point since 2008, due in part to an overwhelming amount of demand compared to the amount of houses available for sale. However, that may be changing, as more people have started putting their homes up for sale on home listings to meet this rising demand. As a result, this could have the effect of helping to cool what some see as an overheated housing market.

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Demand For Adjustable Rate Mortgages (ARMs) Doubles

According to a recent report by the Mortgage Bankers Association, demand for adjustable rate mortgages (also known as ARMs) has doubled over the past three months, making up 9% of all new mortgage applications. This comes at a time when the number of people seeking mortgages overall has fallen, and when interest rates are rising. Some fear this could be the sign of the market cooling in the near future, which may result in prices starting to fall.

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Existing Home Sales Fell in April, But Prices Continue to Rise

The number of existing homes being sold fell in April, even as home prices continue to rise. According to the National Association of Realtors, the number of home sales fell to the lowest level it has been since before the beginning of the pandemic. At the same time, though, there are many people looking to become homeowners, only to find there is simply not enough available inventory to go around.

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