by Anthony | May 23, 2022 | Existing Home Sales, First-Time Buyers, Housing, Inventory Shrinkage
The median listing price grew by 15.9% compared with 2021, representing the 22nd straight week of double-digit gains. Even in the light of higher mortgage rates, the trajectory of the prices for existing homes did not let up. While consumer confidence fell a bit,...
by Anthony | May 18, 2022 | Closing Services, First-Time Buyers, How to's, Real Estate News, Settlement Services
5. Title When purchasing a home, the purchase is not simply about the hard assets or the building itself; the buyer is actually purchasing the legal rights to the land upon which the home rests. These legal rights are described as the title, which is the legal ‘slate’...
by Anthony | May 16, 2022 | Business Tips, First-Time Buyers, Housing, How to's, Real Estate News
1. Loan Pre-Approval – AKA the Pre-Approval Buyers in this very tight market need to go through a vetting process called pre-approval. This form of financial vetting clarifies to the seller, the seller’s agent and the buyer’s agent that the prospective buyers can...
by Anthony | May 13, 2022 | First-Time Buyers, Housing, How to's, Inventory, NJ Real Estate News, Real Estate News
One thing is for sure: there is no sure. Inventory shortages, higher mortgage rates, inflation, and a whole lot of uncertainty is impacting this market on a daily basis! Right now, there is a redirect of a certain percent of buyers due to the accelerated prices over...
by Anthony | Apr 18, 2022 | 2022, Construction, First-Time Buyers, Housing
According to reports, as of February 2022 there were nearly 800,000 single-family homes under construction in the United States. This represents a 28% increase over 2021 according to US government figures. Despite the rising mortgage rates, and the general shortage of...
by Anthony | Mar 24, 2022 | 2022, First-Time Buyers, Mortgages, Real Estate News
As mortgage rates hit an average of 4.6% on a fixed 30-year mortgage, experts are concerned that the rise in rates will impact overall sales of properties. Still, demand for homes remains historically very strong as January home sale prices increased by 19%...
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