Real estate pros are quickly submitting offers for clients as the buyer frenzy, unusual for the winter season, continues.Sales have slowed slightly from the high levels recorded this fall. Pending home sales slid in November by 2.6% compared to those in October, according to the National Association of REALTORS®’ Pending Home Sales Index, released on Wednesday. November’s decline marked the third consecutive month for monthly decreases in pe
As home prices surge, some areas are offering pockets of affordability with several homes under $100,000. In fact, in November, there were about 50,100 single-family listings priced at $100,000 or less across the country, according to realtor.com®—often low-priced properties located in smaller to mid-sized cities or in nearby suburbs and rural areas.But buyers are struggling to snag one of these affordable homes as lenders pivot toward more fi
New York state has a tough new eviction law that will make it harder for landlords to evict tenants who can’t pay their rent. But the new law also includes provisions making it harder for banks to foreclose on smaller landlords—those with fewer than 10 rental units—who are having their own financial difficulties.Legislators called a special session this week to pass the measure, and New York Governor Andrew Cuomo quickly signed the bill, pu
Disinfecting took on new prominence in 2020. Keeping bad germs out of your listings and office became critical in the pandemic. Americans learned more about the proper ways to disinfect this year.For one, cleaning may be what you have traditionally done for prepping listings prior to 2020. Cleaning is all about aesthetics and a home looking spotless and ridding it of dirt. But sanitizing and disinfecting went mainstream in 2020. This is reducing
On Sunday night, President Donald Trump signed a $900 billion COVID relief package that authorizes rental assistance, stimulus checks to individuals for $600, loans for struggling small businesses, and more.The president had delayed signing the bill for several days after Congress approved the relief package early last week. Trump had disagreed with extra unrelated COVID relief spending measures contained in the bill and had urged more money than
New-home sales decreased from October to November as high buyer demand and several building headwinds continued to press on builders’ ability to catch up. Sales of newly built single-family homes dropped 11% in November compared to the previous month, according to the latest new-home sales data released by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.Despite the monthly dip, new-home sales are still 20.8% high
The pandemic is accelerating a multigenerational household trend: Family members are bringing their older relatives into their household, young adults are moving back home, and families are pooling their financial resources due to a job loss or as a way to conserve money and accommodate more members of their family.Housing experts believe the multigenerational trend will last for some time—and may be here to stay.About 16% of buyers have opted
As the pandemic wears on, more homeowners are looking to spruce up their nests by searching for home design inspiration online.Houzz, a home remodeling and design resource site, recently analyzed the most popular home design searches of the year to determine the most popular trends during the pandemic began. The two standout trends relate to the outdoors and creating cozy getaways at home.Looking at searches from May to July, Houzz found that use
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More Americans are taking out mortgages this year, the level of which is on pace to top that of the housing boom in the 2000s. And borrowers are saving hundreds of dollars per month by locking in the lowest mortgage rates in history.In the first nine months of 2020, lenders issued $2.8 trillion in mortgage loans, according to Inside Mortgage Finance. As mortgage rates continue to break record lows, homeowners and buyers are rushing
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