According to Redfin, the typical U.S. home seller pays a 2.55% commission to the real estate agent hired by their home’s buyer. That’s down from an average of 2.62% in January 2024. Commissions have been gradually declining over the last few years, from an average of 2.89% in 2013 to 2.66% in 2023. But news…
Based on Freddie Mac’s latest Primary Mortgage Market Survey, the U.S. 30-year fixed-rate mortgage averaged 6.86 percent as of June 27, 2024. Sam Khater “The 30-year fixed-rate mortgage continues to trend down, hitting the lowest level in almost three months,” said Sam Khater, Freddie Mac’s Chief Economist. “By historical standards, the economy is in good…
According to the National Association of Realtors, U.S. Pending home sales in May slipped 2.1 percent. The Midwest and South posted monthly losses in transactions while the Northeast and West recorded gains. Year-over-year, all U.S. regions registered reductions. The Pending Home Sales Index (PHSI) – a forward-looking indicator of home sales based on contract signings…
Our buyers closed two weeks ago. They had only been complaining about a smell on the basement stairs, even though the contract post-inspection only required us to clean the brand-new carpet and fix some electrical issues. Nothing about remedying a smell. The carpet cleaner they chose even said it just smelled like a typical concrete…
I’m looking at a small vacant lot in Maryland, being sold as 1 of 5 other vacant lots. They are all builder owned. The deed does not describe any restrictions regarding improvements, and the builder does not require the buyer to use him for any new construction. It’s advertised ‘No HOA.’ Is it possible for…
Set to close in 5 days in NJ. Today our real estate attorney said the seller is backing out. Apparently they didn’t like something they saw in their new-build home (cracked foundation) so they cancelled their purchase and decided not to sell their current house. 100% of our escrow will be returned, sellers verbally offered…
Why are closings in New York City so painstakingly slow? We have been in contract since May 4. A simple condo sale. The buyers have their mortgage guarantee letter, 47 days after the contract, and we still wait for a closing date, while our sellers in NJ impatiently awaiting our closing date. We hear stories…
I was the top bidder in an auction, but a few days before it was set to close, the auctioneer informed me that the seller had accepted a private bid and ended the auction early. Surprisingly, the auction website shows the same bid amount as mine. I asked the auctioneer and they told me they…
When it comes to selling your home, staging and decorating can play a crucial role in making a good first impression on potential buyers. Here are some tips to help you make your home look its best: Declutter: One of the most important things you can do is to declutter your home. Remove any excess…
Buying a fixer-upper can be an attractive option for many homebuyers, as it allows them to purchase a home in a desirable area at a lower cost. However, there are both pros and cons to buying a fixer-upper that should be carefully considered before making a decision. One of the biggest advantages of buying a…
As the holiday season is vastly approaching, many people start to think about buying or selling a home. While this time of year can be busy with festivities and family gatherings, it’s also a great time to take advantage of the real estate market. For those who are looking to buy, there are often great…
The process of buying or selling a home can be overwhelming and confusing, especially with the large sums of money and complex rules involved. But don’t worry, because a skilled realtor can be your knight in shining armor, helping you navigate the chaos with ease. These real estate superstars are like walking encyclopedias. They possess…
When it comes to buying a home in Nevada, one of the most important decisions you’ll make is choosing the right mortgage. There are several different types of mortgages available, each with its own advantages and disadvantages. Here are a few of the most common types of mortgages available in Nevada: Fixed-rate mortgage: This type…
Northern Nevada has been experiencing a population boom, and boy, has it shaken up the housing market! One of the most eye-popping changes is the rise in home prices. With demand way up high, the supply is lagging behind, causing prices to skyrocket. It’s been tough for first-time buyers to find affordable homes, but homeowners…
Ready to take on the housing market and score your dream home? Here’s the playbook to help you brave the chaos and come out on top! First up, figure out your budget, including all the sneaky expenses like closing costs, property taxes and maintenance. Crunch those numbers to get a realistic figure of what you…
Based on Freddie Mac’s latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 7.49 percent as of October 5, 2023. Sam Khater “Mortgage rates maintained their upward trajectory as the 10-year Treasury yield, a key benchmark, climbed,” said Sam Khater, Freddie Mac’s Chief Economist. “Several factors, including shifts in inflation, the job market…
According to AAA, two months following the devastating wildfires in Maui, most of West Maui will begin to reopen to visitors on Sunday, October 8, 2023. The tragic wildfires killed 97 people and destroyed much of the historic town of Lahaina. The loss of life, property, cultural and historic sights, and livelihoods has led to…
