Mortgage applications dropped last week, slammed by back-to-back major hurricanes and higher interest rates. Total mortgage application volume, which includes for home purchases and refinances, dropped 9.7 percent week-over-week on a seasonally adjusted basis, the Mortgage Bankers Association reported Wednesday. Further, weekly applications were 21.5 percent lower than the same week a year ago.Broken out, applications to buy a home dropped 11 per
During September’s REALTOR® Safety Month, be sure to take precautions to protect yourself from physical harm—and to protect both yourself and your clients in today’s digital world, says Marc Gould, vice president of business specialties for the National Association of REALTORS® and executive director of REBAC.Gould warns in a recent column at RISMedia about the threats cybercrime is posing to real estate transactions. An email-based sche
More single-family homes are in the pipeline, but the industry is skeptical about whether the increase will satisfy buyer demand. Single-family production increased 1.6 percent in August to a seasonally annual rate of 851,000, the Commerce Department reported Tuesday. Single-family production is now nearly 9 percent higher than a year ago. The uptick is welcome news to housing markets that are increasingly facing severe housing shortages, but the
You don’t want to hurt your clients’ feelings. But undoubtedly there are a few things that pop up in the course of transactions that you wish sellers already knew, so that you could avoid having some awkward conversations with them. Real estate pros chime in at realtor.com® with some of the top things they wish sellers knew about selling a home, including:Your home decor isn’t always perfect for selling.“While your home may be beautifull
For the fourth time in five months, existing-home sales dropped as a shortage of homes for sale continues to plague the housing market. Strained supply levels of homes are making it that sales are unable “to break out,” according to the National Association of REALTORS®’ latest housing report, released Wednesday.Existing-home sales did see an increase in the Northeast and Midwest in August but were outpaced by sales declines in the South a
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Some well-intentioned homeowners may actually be doing more harm than good when they're completing normal household chores. Realtor.com® recently featured a list of cleaning myths that could actually reduce the value of a home. Here are a few cleaning habits to warn your clients against:Too much bleach.Homeowners may be under the assumption that bleach is the best cleaner in the bathroom. “Bleach does not clean anything,” Leslie Reichert, cl
Entrepreneurs in Seattle have come up with an idea to help aspiring home buyers overcome the down payment obstacle: They’re offering down payments to those willing to be an Airbnb host for up to three years, renting out a room in their new homes.Loftium is providing prospective home buyers with up to $50,000 for a down payment, but the buyer must be willing to continuously list an extra bedroom on Airbnb for one to three years. Homeowners al
The Midwest is attracting more single and unmarried women who are choosing to put down roots and buy a home in the region, according to a new analysis by Owners.com. Cincinnati topped its list, followed by Kansas City, Kan., and Kansas City, Mo."There is a noticeable shift toward more single women entering the real estate market, particularly given lower unemployment rates, rising incomes, and the value placed on homeownership," says Phil Karp, s
Real estate associations and firms are rushing to help thousands of displaced hurricane victims find temporary housing in the Houston area. The Houston Association of REALTORS® launched a housing section on its website to help victims of Hurricane Harvey find a temporary place to live. The site allows real estate professionals, property owners, landlords, and property managers to post homes they agree to make available. Some of the homes poste
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