Falling Housing Inventory Stock is Troubling

National Association of Realtors, a trend that continued into April.

"The inventory is reaching historic lows. It's never declined faster than it did last month. It's freaking us out—it's affecting our business; it's limiting our sales," said Redfin CEO Glenn Kelman, on CNBC. "We're going to be fine in terms of market share, but I think the overall industry for the first time is seeing sales volume really limited by the inventory crunch."

Data from Redfin shows that homes in April sold the fastest since 2010, and sold 10 days faster than a year previously. Many homes, one in four, sold above their list price. Kelman puts the blame partially on an unwillingness to sell, as many homeowners choose to rent out their home to keep their mortgage instead.

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Household Debt Reaches Recession-Level Highs

On Wednesday, the New York Federal Reserve released its Q1 report on household debt and credit. According to the report, total household debt totaled $12.73 trillion in Q1 2017. This means that household debt has finally surpassed its $12.68 trillion peak reached during the recession in 2008. This is a $149 billion quarterly increase.

“Almost nine years later, household debt has finally exceeded its 2008 peak but the debt and its borrowers look quite different today. This record debt level is neither a reason to celebrate nor a cause for alarm. But it does provide an opportune moment to consider debt performance,” said Donghoon Lee, Research Officer at the New York Fed. “While most delinquency flows have improved markedly since the Great Recession and…

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5 Reasons to Look Up the Address While House Hunting

Be a Detective: Google the Address When House Hunting

It doesn't hurt to be a little curious — especially when you're searching for a new home.

Search-engine sleuthing is worth the effort to unearth the niceties — and perhaps negatives — when searching for your new home.

There’s probably not a day that goes by that you don’t Google something — the weather, a foreign phrase, directions, or news, just to name a few. With all the information Google can provide through its bird’s eye view, not Googling your address is practically a crime — especially when you’re searching for a new home (whether you’re house-hunting for a waterfront home in Fort Lauderdale, FL, or looking for a ranch house in Houston, TX). Here’s what you could find.

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Financial Planning: 4 Reasons to Buy a House Today

Homeownership will always be a part of the American Dream. There are advantages to owning your own home (educational, health, social) that far transcend any economic impact. However, we want to look at several of the financial advantages of homeownership in today’s post.

1. Buying is Cheaper Than Renting

The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States. The report reveals that:

“Interest rates have remained low, and even though home prices have appreciated around the country, they haven’t greatly outpaced rental appreciation…Nationally, rates would have to reach 9.1% for renting to…

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Can You Get A Mortgage With Fair Credit?

Mortgage With Fair Credit: Yes, It's Possible

Many people with fair credit think they can't get a mortgage. After all, those with fair credit are not among the credit score elite -- those individuals with credit scores of 800 or more.

Instead, fair-credit borrowers are likely to have some late payments and maybe even a missed payment or two.

But there is some good news: You can get a mortgage with fair credit.

In fact, savvy lenders may be very interested in your business.

Click to see today's rates (May 5th, 2017)

Fair Credit Explained

Before you can figure out how to get a mortgage, you must understand what “fair credit” really means. This is a problem because the definition of fair credit is fuzzy. Like beauty, it's in the eye…

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The Lowdown On Downpayment Grants

Downpayment Biggest Obstacle For First Time Buyers

A recent survey by Trulia concluded that the top challenge for would-be homebuyers is the downpayment requirement.

Over half of potential buyers claimed saving a downpayment was a bigger issue than credit scores, income needed or housing prices.

Downpayment grants can help you meet this challenge.

Click to see your low-downpayment loan eligibility (May 5th, 2017)

Downpayment Assistance (DPA) Helps First Time Buyers

Downpayment grants are designed to help eligible buyers bridge the gap between their savings and the required downpayment for a mortgage.

This money doesn’t usually have to be repaid.

If you're in the market for a home and struggling, here's what you need to know…

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3 Little-Known Facts That Help Military Home Buyers

Veterans Capitalize On Unique VA Loan Features

Home buyers often ask which type of loan is best for them.

FHA loans offer low downpayments, and the HomeReadyTM mortgage allows buyers to qualify based on income from all members of the household.

But for those who have served in the military, the best loan option is usually the VA home loan.

It is the only home loan that offers the unique combination of zero downpayment, no mortgage insurance, and rates that run more than a quarter percent lower than conventional rates.

Because the VA loan is unique, it incorporates features not found in any other loan type. These features are sometimes unfamiliar to home buyers, and that’s okay. Buyers don’t need to be experts on VA loans to enjoy…

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Southeast a Popular Spot for Rental Investors

Rental property investors are shifting their efforts toward the Southeastern U.S., with Florida, Texas, and Georgia making up the bulk of acquisitions, according to an RMBS research report released by Morningstar Credit Ratings on Friday.

According to the report, the shift is due to changing securitization trends—as well as investors being more selective in their purchases.

“In the infancy of securitized single-family rentals, institutional investors could acquire distressed properties at discounts through bulk purchases and auctions,” MorningStar reported. “However, a generally improved housing market, including sustained house price appreciation, has resulted in fewer of these buying opportunities. Thus, institutional investors must add assets…

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How To Buy A House: 5 Home Buying Mistakes To Avoid

Knowing What You Shouldn't Do

Owning a home is one of the most effective wealth-building tools available to the everyday consumer.

It's no wonder that first-time home buyers are out in force. One-in-three home sales today are to first timers, and many more are queuing up to be homeowners in 2017.

But when you've never done something before, it's difficult to know what you shouldn't do. Sometimes, new buyers make mistakes.

Fortunately, the mistakes, even if made, don't mean disaster. But if you can avoid them, you should.

Following are five common mistakes for first-time buyers -- and experienced ones -- to skip when you buy a home.

Click to see today's rates (May 5th, 2017)

1. Jumping The Gun

Don’t go shopping for property…

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Buying A Condo With An FHA, VA, Or Conventional Loan

Low-Maintenance Living At A Reasonable Price

Buying a condo provides a number of advantages to home buyers.

First-time buyers can enter the housing market at a lower price point with condos.

Both new and repeat buyers enjoy more free time not spent on yard maintenance and outdoor projects. And many condominiums are available within major employment centers, making commutes easier.

But financing a condo is a little different than getting a mortgage for a single-family home.

Conventional loans from Fannie Mae or Freddie Mac, as well as VA and FHA home loans, must meet the corresponding agency's guidelines.

These entities back ninety-four percent of condominium mortgages according to the housing research arm of Urban Institute. Chances…

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