Buying a home is a very competitive process, sometimes resulting in making offers and waiving the home inspection contingency. However, homebuyers can reserve the right to conduct an inspection to gather information while assuring the seller they will not hold them responsible for repairs. Therefore, most homebuyers should never forgo the home inspection, even when … Read more
The number of homes for sale in January 2023 grew, while the time spent on the market slowed compared to January 2022. However, the growth rate in the total number of homes for sale remained lower than active inventory because fewer homes were under contract last month than in January 2022.
There comes a time when downsizing your home makes sense. It could be having the kids embark on a life of their own. On the other hand, you may have finally decided to rid yourself of debt. Whatever your reasons may be, downsizing your home requires careful planning and consideration. Mistakes When Downsizing Your Home … Read more
The real estate industry has enjoyed constant growth over the past few decades. According to Statista, its total revenue was $9.5 billion in 2021 and could reach well over $14 billion by 2030. This 4.8% growth rate can be attributed to homeowners learning mortgage-offsetting methods like house hacking. While the concept of house hacking isn’t … Read more
Selling a home could come with some challenges, especially in today’s technologically forward environment. Homebuyers are from a younger generation who have come to expect everything to be online and available at their fingertips, and taking a tour of their dream home is no exception. In the United States alone, Statista reports around 7 million … Read more
The median home price growth rate slowed in December, dropping below 10% for the first time in 12 months. The national median home list price was $400,000 in December, down from a record high of $449,000 in June. It is the first time that listing price growth has fallen below double digits since December 2021. … Read more
If you’ve searched for homes or other real estate properties, you’ve probably heard about a Homeowner’s Association (HOA) and Property Owner’s Association (POA). There are almost 360,000 HOAs in the U.S. as of 2021. Although the terms HOA and POA are often used interchangeably, the two organizations have very different functions. What Is a Homeowner’s … Read more
Purchasing a new home can be daunting, especially for first-time homebuyers. But, perhaps the most intimidating and time-consuming stage is the home-closing process. Depending on demand, market conditions, and the season, it takes between 30 to 60 days to close on a home. During the closing period, many things can happen. In fact, some of … Read more
A mortgage escrow account is one of the terms you’re likely to come across in your home purchase process. Moreover, a mortgage escrow account comes into play after you’ve bought the house. If you’re not sure how this concept works, you’re in the right place. Keep reading to learn more. According to a Statista report, … Read more
Nationally, November’s inventory of homes actively for sale increased by 46.8% over November 2021. This growth in active listings was the most significant month-over-month increase since May 2022 and the first positive annual home inventory growth rate since June 2019.