Seventy percent of home owners surveyed say they intend to take on a home improvement project this year, and they plan to spend about $3,500 on sprucing up their home, according to the survey. That’s an increase of about $100 compared to last year.
Sales of investment and vacation homes* jumped in 2011, with the combined market share rising to the highest level since 2005, according to the National Association of Realtors®.
Economists have been warning that a flood of foreclosures will soon be hitting the real estate market, likely this summer. Increases in foreclosures traditionally pull down nearby home prices. So should home owners be worried?
Real estate professionals are tackling more mobile outreach markets efforts to reach clients — making sure their Web site is easy to view and use from a phone, adopting QR codes in marketing, and even creating apps that potential clients can use to access real estate information while on-the-go.
Mortgage rates were down across the board this week compared to last week, according to Freddie Mac’s weekly mortgage market survey. After posting a big jump last week, 30-year mortgage rates were back below the 4 percent mark this week, offering another boost in home affordability for buyers.
Americans are prioritizing their debt payments by opting to pay their car loans before mortgages and credit cards, according to an analysis by credit reporting bureau TransUnion.
Construction slowed dramatically in recent years but has been showing signs of picking up in pockets across the country.
Pending home sales were down slightly in February but remain notably above the pattern in the first half of last year, according to the National Association of Realtors®.
Mortgage applications for Federal Housing Administration loans soared 11 percent from the previous week as borrowers try to rush their applications in to beat the higher FHA costs that will start rolling out on Monday, according to the U.S. Mortgage Market Index report released from Mortech Inc. and Mortgage Daily.
NAR Chief Economist Lawrence Yun talks about Pending home sales, which were down slightly in February but remained notably above the pattern in the first half of last year.