August, 2020

Inside an Impeccable New Home in Beverly Hills

Sotheby's International Real Estate

based master architect William Hefner is known for his proficiency in both traditional and modernist styles and for his devotion to translating classic details for sophisticated contemporary living.

Design 110

The Top Reasons People Are Moving This Year

Keeping Current Matters

Today, Americans are moving for a variety of different reasons. The current health crisis has truly re-shaped our lifestyles and our needs. Spending extra time where we currently live is enabling many families to re-evaluate what homeownership means and what they find most important in a home.

Design 248
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A Quarter of San Francisco Home Sellers Are Dropping Their Prices, the Highest Rate on Record

Redfin

San Francisco has seen a greater increase in price drops than any other U.S. metro, with the share of sellers slashing prices more than doubling from a year ago as the pandemic drives homebuyers out of the Bay Area.

Sales 112

As eviction moratoriums end, what will happen in Pennsylvania, Nevada, Florida and California?

Housing Wire

According to Census data, approximately 21% of renter households are behind on rent payment, and it’s estimated that up to 40 million renters could face eviction over the next few months after federal eviction moratoriums expired in late July.

Renting a Room in Your House: What to Know

RIS Media

If you have a spare room in your home, renting it out can be a way to earn extra to pay the mortgage.

Refinance Appraisal vs Purchase Appraisal: Is There a Difference?

HomeLight

Picture this: You’ve been in your home for a few months, and lately, it seems like you’re getting more and more junk mail encouraging you to refinance your mortgage. And it seems like it might be a good deal, so you do a little research into what you need to do.

More Trending

Why Is It so Important to Be Pre-Approved in the Homebuying Process?

Keeping Current Matters

You may have heard that pre-approval is a great first step in the homebuying process. But why is it so important? When looking for a home, the temptation to fall in love with a house that’s outside your budget is very real.

Homes Flying Off Market at Record Pace—46% Accept an Offer Within 2 Weeks

Redfin

Key takeaways for the 4-week period ending August 2: A record-high share of homes are selling fast: 46% of homes sold within the first two weeks on the market, the highest level since at least 2012 (as far back as our data on this measure goes).

Sales of large homes skyrocket as homeowners seek more space

Housing Wire

Homebuyers who are juggling work and school from their home want more space, triggering an increase in the number of sales of large homes. According to Redfin , sales for large homes were up 21.2% year over year nationwide in July, compared to a 10% increase for medium-sized homes and a 2.3%

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10 First-Time Home Buyer Blunders To Avoid

Lighter Side of Real Estate

Homeownership is one of the central tenets of contemporary life. Most of us dream of a familiar, comfortable place to call our own, and buying a home is a rite of passage into adulthood, and into our own piece of the American Dream.

Canadian Households Have Deferred Payments On Debt Worth $247 Billion

Better Dwelling

Canadians have a metric buttload of debt, and a lot of it’s not being paid, according to a big three credit bureau. TransUnion data shows the balance of accounts on payment deferrals is now over a quarter trillion at the end of Q2 2020.

Don’t Forget Your Wardrobe! How to Pack Clothes for Moving Day

HomeLight

It’s taken what seems like an eternity to finally get to this point. The offer has been accepted , the home inspection is complete, and the documents have been signed. Now, it’s time to start packing your belongings so you can finally start moving into your brand new abode.

Homes Are More Affordable Right Now Than They Have Been in Years

Keeping Current Matters

Today, home prices are appreciating. When we hear prices are going up, it’s normal to think a home will cost more as the trend continues. The way the housing market is positioned today, however, low mortgage rates are actually making homes more affordable, even as prices rise. Here’s why.

Capital Gains Tax On Primary Residence Is Coming

Toronto Realty Blog

TorontoRealtyBlog. My goodness, remember this blog post? The Friday Rant: When Will People Say “Enough?” ” That was March of 2019, yet it feels like yesterday. 95 comments from readers ensued, and they were mixed, to say the least.

Equity 109

Is the FHFA about to delay the refi fee?

Housing Wire

According to reporting by the Wall Street Journal on Saturday, the Federal Housing Finance Agency has been communicating with mortgage industry groups about delaying the implementation of a fee which would add a 0.5% surcharge to refinance mortgages sold to Fannie Mae and Freddie Mac starting Sept.

David Larock: Why CMHC president Evan Siddall went rogue

REM Online

The following content may have been republished here without the author's permission. The original post can be found at the following URL: David Larock: Why CMHC president Evan Siddall went rogue.

This Week’s Top Stories: Canada Is The G7’s Biggest Real Estate Bubble, and Toronto Rental Inventory Soars

Better Dwelling

Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canada Doubled Down On Real Estate In 2005.

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2020 Bidding Wars: How to Win

RIS Media

At the start of the pandemic, the housing market nearly screeched to a halt. When most states moved to mandatory quarantining and strictly enforced social distancing, agents were, rightfully, concerned with the future of real estate.

Sales 106

Current Buyer & Seller Perks in the Housing Market

Keeping Current Matters

Today’s housing market is making a truly impressive turnaround, and it’s also setting up some outstanding opportunities for buyers and sellers. Whether you’re thinking of buying or selling a home this year, there are perks today that are rarely available, and definitely worth looking into.

Homebuyer Interest in Rural Areas Rises, With Prices Up 11% in July

Redfin

There’s more demand—and less supply—for rural and suburban neighborhoods than cities as the pandemic influences homebuyer preferences. Still, prices are up 6.7% in urban areas.

Sales 106

U.S. home sales and median price soar to a record in July

Housing Wire

Existing-home sales jumped 25% in July from June, beating the prior record of a 21% gain set a month earlier , as low mortgage rates fueled demand for real estate. Sales of single-family homes, townhomes, condominiums, and co-ops rose to a seasonally adjusted 5.86

Sales 286

Home purchase contract signings surge 5.9% in July

The American Genius for Real Estate

[REAL ESTATE BIG DATA] Positive NAR reports encourage strong homebuyer return into the housing market following pent-up demand. The post Home purchase contract signings surge 5.9% in July appeared first on The American Genius Real Estate.

Canada Doubled Down On Real Estate In 2005. Now It’s The Biggest Bubble The G7 Has Ever Seen, and It’s Getting Bigger

Better Dwelling

Canadians know real estate prices have grown quickly, but most have no idea how it compares to the world. US Federal Reserve Bank of Dallas (US Fed) data shows how home prices evolved since the Financial Crisis.

Banks 106

When a property is damaged prior to closing

REM Online

The following content may have been republished here without the author's permission. The original post can be found at the following URL: When a property is damaged prior to closing.

Three Ways to Win in a Bidding War

Keeping Current Matters

With so few houses for sale today and low mortgage rates driving buyer activity, bidding wars are becoming more common. Multiple-offer scenarios are heating up, so it’s important to get pre-approved before you start your search.

Refinancing just got more expensive, thanks to this new fee

The Mortgage Report

A new fee will be added to conventional mortgage refinances on September 1. Will this mean higher refinance rates? For some, it's likely. Conventional Loans Mortgage News Mortgage Rates Refinance

Loans 105

Late-term mortgage delinquencies rise on forbearances

Housing Wire

The number of seriously delinquent mortgages, meaning payments overdue by 90 days or more, soared to a 10-year high during July in a tally that counts forbearances. There were 2.25

Buyers Continue to Flood Markets Despite Inventory Shortage

RIS Media

The bidding wars may continue into the fall, according to data from realtor.com®’s Weekly Recovery Report for the week ending Aug. The week reached a 106.6 Housing Market Recovery Index—a 1.8-point increase over last week and 6.6. points above the pre-COVID baseline of January 2020.

This Week’s Top Stories: Bank of Canada Using Billions To Prop Up Mortgages, Toronto and Vancouver New Condo Sales Plummet

Better Dwelling

Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Bank Of Canada Pumping Billions Into Mortgage Liquidity To Prop Up Real Estate Canada’s central bank has pumped billions into the mortgage market, in attempt to prop it up. As of July 22, the Bank of Canada held $7.95

Banks 105

COVID-19 pandemic hasn’t dimmed enthusiasm for buying a home, says report

REM Online

The following content may have been republished here without the author's permission. The original post can be found at the following URL: COVID-19 pandemic hasn’t dimmed enthusiasm for buying a home, says report.