Real Estate

NO Earnest Money Refund

The earnest money deposit—the cash you as a buyer offer to essentially call dibs on real estate—is one of the most important and misunderstood parts of the home-buying process. Depending on location, home buyers can expect to put down anywhere from 1% to even 10% of the real estate purchase price as earnest money. You waived your contingencies In highly competitive markets, it’s...

Great Time to Buy a Vacation Rental

The U.S. short-term rental market has officially recovered demand above 2019 levels, a new report from AirDNA finds. April 2021 marks the first month since the start of the coronavirus pandemic to surpass 2019 performance. According to AirDNA, short-term rental demand increased by 66.4% in April compared to 2020 levels and 5.4% over 2019 levels. Occupancy levels also built on the...

What Are Closing Costs?

When buying a home, it’s important to have a budget and make sure you plan ahead for certain homebuying expenses. Saving for a down payment is the main cost that comes to mind for many, but budgeting for the closing costs required to get a mortgage is just as important. What Are Closing Costs? When you close on a home, a number of fees are due. They typically range from 2% to...

Looking to buy a 2nd home? Join the club!

Demand for vacation homes is rising at a record pace, despite the gradual reopening of offices across the country, according to a new report from real-estate brokerage Redfin. Wealthier families will likely have more opportunity to do their jobs remotely for the foreseeable future. — When a home buyer works with a lender to lock in a specific interest rate they must specify whether...

Why is it so hard to find a house?

The question many homebuyers are facing this year is, “Why is it so hard to find a house?” We’re in the ultimate sellers’ market, which means real estate is ultra-competitive for buyers right now. The National Association of Realtors (NAR) notes homes are getting an average of 4.8 offers per sale, and that number keeps rising. Why? It’s because there are so few...

Housing Boom No One Wanted

It's a discouraging scene: Bidding wars, soaring prices, and fears that homeownership is becoming out of reach for millions of Americans. We're in a housing frenzy, driven by a massive shortage of inventory — and no one seems to be happy about it. Why it matters: Not all bubbles burst. Real estate, in particular, tends to rise in value much more easily than it falls. Besides, says National...

This May Be the Best Month Ever to Sell a Home

Study: April is the best month to sell a home – more buyer interest, less competition, higher list prices and faster sales – and given market conditions right now that strongly favor sellers, there may never be a better time for homeowners to post a for-sale sign in their yard. SANTA CLARA – In today’s market, it seems as if it’s always a good time to sell a home because they’re selling...

How Many Homes Does the U.S. Need to Catch Up?

Why is the inventory of for-sale homes so tight? A new analysis by Freddie Mac found that supply will meet demand only if the U.S. adds 3.8M new homes. The housing need now is 52% greater than it was in 2018, just three years earlier – and it’s even worse for entry-level homes. The figures underscore the severity of the housing deficit, which is a major factor fueling the current red-hot housing...

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