Marco Santarelli

MARCH 22, 2025

Gone are the days of “no-doc” loans and reckless lending practices. Sellers in Overbuilt Markets: Areas with an oversupply of new construction or apartments may experience price declines and longer listing times. The housing market in many areas is still undersupplied. What's a Buyer to Do?

Marketing

Marco Santarelli

MARCH 26, 2025

The good news is, lower mortgage rates help push new-home sales higher , and we've seen a bit of that recently. While the increase might not be as dramatic as some hoped, the slight dip in rates combined with limited existing home inventory has given the new construction market a little boost.

Sales

Rochester Real Estate

NOVEMBER 5, 2015

The best new construction advice is to ask to review the warranty early on. Importance of builders’ warranty when buying a new home A builder’s warranty is essential when purchasing a new or recently constructed home. Doing so can ensure a smooth process and the best chance of approving your claim.

Purchase and sale agreement

Redfin

JUNE 17, 2025

Time to prepare: a bumpable status gives you a window to get pre-approved and prepare a strong offer. Submit a pre-approval letter: Show sellers you’re financially ready and serious by including a pre-approval with your offer. At that point, the listing updates to pending or active.

Backup offer

Marco Santarelli

MAY 26, 2025

Regional differences are playing a huge role: Region Price Trend Key Factors My Two Cents Northeast Stronger price gains Income growth, severe shortage of homes (Forbes) This region has older housing stock and less new construction, making any available home highly contested. That's a big, scary number.

Equity

Housing Wire

APRIL 5, 2024

. “Attractive homes are moving fast, so those looking to buy this spring should get their finances in order now, including getting pre-approved for a home loan. The housing train is slowing down just enough to give more first-time buyers an opportunity to hop on board,” Divounguy said.

Pre-approval

Housing Wire

MAY 10, 2023

It shows about 50 people waiting in line at an open house in Mount Laurel, New Jersey. In much of suburban New Jersey, where new construction is rarer than cheap Bruce Springsteen tickets, the pandemic-era conditions never left. But it’s bad for everyone else, agents and loan officers included.

Loan Officer

Housing Wire

SEPTEMBER 22, 2022

We do not see new construction returning in a meaningful way any time soon. Kurt Carlton, President of New Western. “We do not see new construction returning in a meaningful way any time soon. Our macro-outlook is that demand for housing will remain out of balance with supply for the mid to long term.

Mortgages

Realtor.com

JANUARY 2, 2023

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.

New Construction

HomeLight

JUNE 27, 2022

You’re looking at new construction as an option for your new home and love the idea of buying a brand-new house that has never been lived in before. However, you want to arm yourself with the tools and insider information so you don’t get too carried away with the new build. The dos of buying new construction.

New Construction

HomeLight

AUGUST 31, 2021

If so, then the 203k loan may offer a way to finance your plans, but first, you’ll need to know both what this loan is and how to get a 203k loan. . In addition to 12 years of experience as a real estate agent, Forney has personal experience using a 203(k) loan to purchase and fix up his first home.

Loans

HomeLight

AUGUST 31, 2021

Don’t let the pristine facade or shiny appliances of a model home deceive you: buying new construction will be as complex as any old real estate transaction, if not more so. These are all areas where a knowledgeable buyer’s agent who’s got lots of new-build experience and local builder connections can be invaluable.

Agents

Marco Santarelli

APRIL 20, 2024

New Construction: While not a major short-term solution, an increase in new home construction activity could eventually contribute to a more balanced inventory level. The overall supply is likely to remain below pre-pandemic levels. However, competition might still exist, especially for desirable properties.

Marketing

Realty Biz

SEPTEMBER 23, 2023

Understanding the mortgage process, including prequalification and pre-approval, is also essential. Buyer agents can provide valuable support in various situations, such as buying a new home or purchasing a foreclosure. It is essential to prepare for the mortgage pre-approval process.

Purchase and sale agreement

Marco Santarelli

MAY 11, 2024

Home Equity Softening, Not Disappearing The report highlights a slight decrease in the percentage of homes considered “equity-rich,” where the loan value is less than half the estimated market value. Rising interest rates, which have climbed back above 7% for a 30-year loan, are likely culprits. in the last quarter.

Mortgages

Realty Biz

DECEMBER 27, 2021

For instance, the examples above are for loans at the full amount shown. Down payments lower the amount loaned and therefore the monthly payment. This can open the possibility of buying new construction which is expected to focus mostly on houses larger than 2,000 square feet. Roy, hang in there.

Pre-approval

Rochester Real Estate

NOVEMBER 5, 2015

What Builders Should Know About Spec Construction Loans In New York Spec houses have become a common term in real estate and construction. We will explore the ins and outs of spec homes and examine the critical topic of spec house loans. New builders must understand their financing options.

Construction

HomeLight

AUGUST 16, 2022

A Pew Research Center analysis of data from 44 advanced economies found consumer prices have risen substantially in nearly all of those countries since the pre-pandemic era. So, to help you navigate in this new world where everything costs more, we’re arming you with the latest information about: what is causing inflation.

Marketing

Marco Santarelli

DECEMBER 12, 2024

Government-Backed Loan Programs: The availability of programs like VA and FHA loans makes it easier for certain populations to buy homes in these markets, leading to increased homeownership. This translates to a strong demand for housing due to frequent relocations and the presence of VA loan benefits.

VA loan

HomeLight

MARCH 13, 2023

New construction surge contributing to competition for buyers. They may want to avoid the 6% interest rate of a loan by buying with cash. Certainty: With a pre-offer walk-through, a cash home buyer can typically provide a firm cash offer that comes with few, if any, contingencies. “The No pre-qualifying for a loan.

Sales

Redfin

APRIL 21, 2023

The state has seen a significant increase in new construction, with builders developing homes in both urban and suburban areas to meet the demand for housing. Get pre-approved from a lender Before you start looking for a house in Florida, you first need to pre-approved for a mortgage.

Pre-approval

Louisville Homes

SEPTEMBER 9, 2022

If you plan to get a loan, make sure that you get your pre-approval before you start looking. Understand that investment loans are more costly than loans for your primary residence. Even with new construction , it always pays for a buyer to have their own Realtor. Team Up with a Realtor.

Due diligence

Marco Santarelli

AUGUST 17, 2020

We’re not going to tell you where to go to find a real estate investment loan or good building contractor; you can find recommendations in those areas almost anywhere. Zillow Home Loans, Zillow’s affiliated lender, provides mortgage pre-approval and financing. Best Real Estate Website – NoradaRealEstate.com.

Purchase and sale agreement

Marco Santarelli

AUGUST 3, 2024

Not Saving Enough for a Down Payment: Many assume a 20% down payment is mandatory, but with options like FHA loans, you might be able to secure a mortgage with a smaller down payment. How to Avoid: Compare Rates from Multiple Lenders: Contact multiple mortgage lenders to compare interest rates, fees, and loan terms.

Closing costs

Realty Biz

AUGUST 29, 2023

Understanding the Construction Process When embarking on the journey of building a new house, it is crucial to have a solid understanding of the construction process. Buying new construction can be exciting but quickly become a nightmare.

Construction

HomeLight

FEBRUARY 3, 2022

This eliminates the processing of a buyer’s loan and home appraisal, which are typically the two most time-consuming steps in the home sale process. It’s also good practice to screen buyers for pre-approval or proof of funds before they view the home to cut back on useless showings. According to Dec.

Staging

Marco Santarelli

APRIL 24, 2025

I think this hesitation stems from a few key factors: High Mortgage Rates: These have been stubbornly high, hovering around the 7% mark for a 30-year fixed loan. Redfin's data breaks it down pretty well: The South: In many Southern markets, there's been a surge in new construction and investor activity.

Marketing

HomeLight

NOVEMBER 21, 2022

Gila adds that FSBO sellers should list their home at fair market value , especially when competing with new construction in South Carolina that offers high incentives for buyers as well as real estate agents who provide Realtor® bonuses and buy-down interest programs or closing costs paid by sellers. Require everything in writing.

Purchase and sale agreement

Marco Santarelli

AUGUST 18, 2020

Many variables could potentially impact the value of a home in Boston in 2020 (or any other market) such as big changes in the distressed, new-construction, or luxury home segments. We’ve already mentioned the height law and the challenges faced by getting anything approved even with the mayor behind it. Pre-COVID stats.

Marketing

HomeLight

APRIL 26, 2023

Graham says the next step is to ask for a pre-approval letter from a reputable mortgage company that you’re comfortable with. You don’t want to find out two days before closing that the loan didn’t come through and the deal falls apart after you’ve already moved out of your house. Require everything in writing.

MLS

Housing Wire

OCTOBER 2, 2024

Educate your buyer clients about financing While many homebuyers can benefit from a 30-year, fixed-rate conventional mortgage , other borrowers might need access to other loan programs with more lenient guidelines. Know the basics about each major home loan program and financing terms and options. Should they consider new construction?

Pre-approval

Marco Santarelli

JULY 29, 2020

Many variables could potentially impact the value of a home in Portland in 2020 (or any other market) such as big changes in the distressed, new-construction, or luxury home segments. Under potential listings, there are about 5 Foreclosed and 105 Pre-Foreclosure homes. Additionally, there are 180 homes for rent.

Marketing

Housing Wire

FEBRUARY 14, 2025

Pasadena goes big The City of Pasadena announced this week that it’s launching the second round of its accessory dwelling unit ( ADU ) loan program. The new round comes as Pasadena recovers from property losses sustained during the LA wildfires. You can almost get them pre-packaged. Last year, California Gov.

Pre-approval

Zillow Market Reports

NOVEMBER 22, 2023

In this report, we take a deeper look at new construction buyers — household decision makers that own their primary residence and moved to a new construction home they purchased in the past two years. Sampling & Weighting Results from this survey are nationally representative of new construction buyers.

New Construction

Housing Wire

JUNE 5, 2024

Is there new construction in your market? Know mortgages You don’t have to know what your favorite loan originator does, but you do need to know enough to advise your clients about different types of loans and which lenders may be the best match for them. • What is a portfolio loan and who should utilize one?

Pre-approval

Marco Santarelli

OCTOBER 18, 2024

New Construction: While not a major short-term solution, an increase in new home construction activity could eventually contribute to a more balanced inventory level. The overall supply is likely to remain below pre-pandemic levels. Final Thoughts: This new landscape presents both challenges and opportunities.

Marketing

Marco Santarelli

MAY 23, 2025

It also reinforces the importance of getting pre-approved for a mortgage to understand what you can realistically afford. Exploring different loan programs and down payment assistance options could also be beneficial. For First-Time Buyers: You might need to save even more for a down payment and closing costs. John Sim from J.P.

Marketing