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New Year, New Home? 9 Myths About Buying a New-Construction House That Actually Aren’t True

Realtor.com

Getty Images Many first-time homebuyers might shy away from the prospect of buying a brand-new home, assuming: It will cost too much. While purchasing new construction is indeed different from purchasing previously owned property, many misconceptions abound about new builds. New construction homes are more expensive.

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5 Reasons Not to Skip a Home Inspection

RIS Media

HomeTeam Inspection Service of Kentuckiana Owner Brad Lawler explains why potential buyers should never skip a home inspection, even when housing inventory is scarce. “Waiving an inspection can open a buyer up to unforeseen costs down the road that could have otherwise been avoided.” ” 2. .”

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I’d list my home, but where would I move?

Housing Wire

For most agents, that’s the end of the conversation, ending the possibility of taking a new listing as well as facilitating the buyer side. Build a home instead of chasing after the scarce resale inventory 30% of available homes are new construction, so there are several advantages to this option. Next, the house is new.

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8 reasons we won’t have housing inventory armageddon any time soon

Real Trends

The bottom line, they won’t be flooding the market with new construction. Some 50% of homeowners who have mortgages enjoy more than 50% equity. In the Great Recession, homeowners owed more than homes were worth, with no equity, and more likely, negative equity. Are distressed sales headed to your market?

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Things Builders Should Know About Spec Home Loans

Realty Biz

Development financing for larger new construction projects and alternative financing approaches should also be considered. A spec home is a newly constructed residential property built by a developer or builder without a buyer already in place. What is a Spec House? The definition of a spec house is straightforward.

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Consumers’ Housing Market Perceptions vs. Reality

Broke Agent Media

BAM Key Details: The results of a new Opendoor survey reveal an inconsistency in housing market expectations, along with areas where buyers and sellers can meet in the middle. Data from a new Opendoor survey is shedding some light on how buyers and sellers see the housing market, what their top concerns are, and what they can agree on.

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Renting vs Buying in Birmingham, AL: Which is Right for You?

Redfin

Building equity Owning a home provides a unique opportunity to build equity over time. Equity represents the difference between the market value of your property and the remaining balance on your mortgage. If you’re considering buying a home in Birmingham, it’s important to know the median sale price for a home is $255,000.

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