The real estate market does not occupy a space outside the laws of physics. As Sir Isaac Newton so aptly theorized, "For every action, there is an equal and opposite reaction." When applying the English physicist's Third Law to today's rising mortgage rates, anticipating the reaction can be valuable information if you are planning to buy or sell a home or commercial property. At first blush, residential home buyers and commercial property investors might expect the "opposite" reaction to impact … [Read more...]
NAHB Reports Lowest Builder Confidence Reading Since 2014
Obstacles facing home builders have caught up with high builder confidence according to the National Association of Home Builders Housing Market Index for November. Builder confidence dropped eight points to an index reading of 60, which was the largest month-to-month drop in builder confidence since 2014. November's decline in builder confidence was greater than the largest month-to-month decline during the housing crisis. Housing Market Index readings over 50 are considered positive, but … [Read more...]
Mortgage Challenges For Self-Employed Home Buyers
It's no secret that mortgage lending institutions look favorably on steady paychecks and positive debt-to-income ratios. That can leave many self-employed prospective home buyers feeling anxious about getting approved for a mortgage. But just like the 9-to-5ers who get regular paychecks, self-employed people earning a good living can get approved with a little due diligence. The primary concern of mortgage lenders is not necessarily where your revenue comes from, it's confidence that you can … [Read more...]
Buy Or Build Your Home? 5 Factors To Consider
A home is one of the biggest investments you can make, and the American Dream for many. Most people spend significant time finding or designing their "dream home." The first decision is whether to buy or build. As of September 2018, the average sales price of a new home was $377,200, according to joint data collected from the U.S. Census Bureau and the Department of Housing and Urban Development. Existing homes sales price was approximately $258,100, according to the National Association … [Read more...]
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