As the new year approaches, the idea of buying a home might be on your mind. It’s an exciting goal to set, and it’s never too early to start laying the groundwork. One crucial step to prepare for homeownership is building a solid credit score. Lenders review your credit to assess your ability to make payments on time, pay back debts, and more. It’s also a factor that helps determine…
$390B of commercial Real Estate debt matures by 2025, requiring refinancing. Delinquency rates rise for loans backed by rent-stabilized buildings, impacting the Real Estate landscape. Fidelity analysis suggests sound fundamentals in commercial Real Estate, except for offices.
Some Highlights If you want to buy a home, you may not need as much for your down payment as you think. There are various loan options for qualified buyers with down payments as low as 3.5% or even no down payment requirement. There are also thousands of programs available to help homebuyers with their down payments. With the right resources, your down payment may be more within reach than…
Has your house been sitting on the market a while without selling? If so, you should know that’s pretty unusual, especially right now. That’s because the supply of homes available for sale is still far lower than what we’d see in a normal year. That means buyers have fewer options than they usually would, so your house should be an oasis in an inventory desert. So, if homebuyers have limited…
If you’re thinking about moving, it’s important to know what’s happening in the housing market. Here’s an update on the supply of homes currently for sale. Whether you’re buying or selling, the number of homes in your area is something you should pay attention to. In the housing market, there are regular patterns that happen every year, called seasonality. Spring is the peak homebuying season and also when the most…
If you’re looking to buy a home, your down payment doesn’t have to be a big hurdle. According to the National Association of Realtors (NAR), 38% of first-time homebuyers find saving for a down payment the most challenging step. But the reality is, you probably don’t need to put down as much as you think: Data from NAR shows the median down payment hasn’t been over 20% since 2005. In…
There’s no denying mortgage rates and home prices are higher now than they were last year and that’s impacting what you can afford. At the same time, there are still fewer homes available for sale than the norm. These are two of the biggest hurdles buyers are facing today. But there are ways to overcome these things and still make your dream of homeownership a reality. As you set out to make…
Low inventory favors sellers, discouraging buyers amid high mortgage rates and soaring home prices. Modest home price growth and a continued seller's market due to a new norm of higher rates in 2024 is anticipated. Projections of 3-4% price rise face challenges with limited inventory, resulting in a 3.4-mo supply, potentially stalling sales growth.
Second home owners often overlook estate taxes, but it's vital to understand the financial impact. Owning a second home out of state can trigger additional estate tax obligations for heirs. Estate tax, separate from income tax, is typically due within 9-mo after death.
On a $381K house with a 20% down payment, the loan amount would be $304.800. With 6% interest rate monthly payment would be $1,827. That number jumps to $2,028 with a 7% interest rate.