New Home Sales Surge to Highest Point Since 2007

New Home Sales Surge to Highest Point Since 2007

The Department of Housing and Urban Development (HUD), in conjunction with the U.S. Census Bureau released its report on New Residential Sales for November 2017 on Friday.

Homes for Sale in Davenport FL

The sales figures were seasonally adjusted and came to an estimated 733,000, an increase of 17.5 percent (plus or minus 10.4 percent) from October’s revised rate of 624,000—representing the highest level since July 2007. Additionally, figures increased 26.6 percent (plus or minus 16.6 percent) of November’s estimate a year prior, which totaled 579,000.

New houses sold in November had an average price of $318,700; the median sales price came to $377,100. The report also figures that, at the end of…

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Buyers More Positive About Housing Market

Buyers more positive about housing market

Homebuyers are becoming increasingly more positive about today’s housing market. According to Fannie Mae’s recent Home Purchase Sentiment Index (HPSI), the number of buyers who say now’s a good time to buy is up seven percentage points for the month—and is nearing its highest point on record.

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The HPSI for November weighed in at 87.8—up from just 85.2 in October and 82.2 last year. Currently, about 29 percent of consumers believe it’s a good time to buy a home.

According to Doug Duncan, Fannie Mae’s Senior VP and Chief Economist, November’s HPSI indicates the market may be in for an upturn come 2018.

“In November, the HPSI rebounded to near its all-time high,…

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Top 3 Barriers to Homeownership

Top 3 barriers to homeownership

As home prices rise and tight inventory continues, the current market has made it more challenging for American’s to reach their goals of homeownership, especially for low-to-median-income borrowers and first-time homebuyers.

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According to the Urban Institute’s Housing Finance Policy Center, there are three significant barriers to homeownership: saving for a down payment, accessing mortgage credit, and housing affordability.

In a recent report, Urban Institute breaks down these barriers, reporting data on the latest market trends of these obstacles.

One of the biggest barriers are consumers thinking they need to put more down than lenders actually require. According to the…

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Keeping Up With Home Sales

Keeping up with home sales

The November RE/MAX National Housing Report recently released, reporting that October home sales increased 2.5 percent year-over-year—keeping 2017 prices ahead of 2016.

Homes for Sale in Davenport FL

In terms of inventory, the report found that October’s supply decreased to 3.3 percent, representing the lowest for any October since the housing report began tracking data nine years ago.

Median sales prices are now $224,000, which is an increase of 3.3 percent compared to October 2016.

According to Adam Contos, RE/MAX Co-CEO, the housing market is steady and at least somewhat predictable with record-low inventory and increasing prices in markets across the country.

“With job growth and increased household…

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Why buying a home near your favorite grocery store matters

Think real estate and groceries

Buyers need to think about many factors before buying a home in Central Florida. These include price, neighborhood amenities, area schools and commute time.

New data suggests that nearness to your preferred food store should also be pondered. Shopping convenience is one perk. But a bigger one is the effect that grocer can have on your home’s value. This nearby store may affect your flipping or renting prospects, too.

Homebuying tips: how to choose your neighborhood

While this probably should not make or break your choice on where to buy, it can better inform your decision. So when scouting a home for sale, take time to learn which food stores are close by. This knowledge could pay dividends in the form of a…

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Statute of limitations on old debt: Do I have to pay it back to get a mortgage?

Statute of limitations on old debt: do i have to pay it back to get a mortgage?

Is there old debt lurking in your financial closet?

Before you apply for a home loan in Davenport FL, it's a good idea to get a copy of your credit reports. Suppose your report includes some old debt from years ago. And suppose that's timed out as a result of your state's statute of limitations on debts.

Don't "reactivate" an old collection when you apply for a mortgage

What you do next could have a huge impact on your ability to get your mortgage application approved. And it could affect your financial well-being for years to come. So read on to make sure you know how to protect your interests.

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How to get a copy of your…

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How to shop for a lower mortgage rate

How to shop for a lower mortgage rate

Lower mortgage rate: not rocket surgery

At first it seems pretty simple: If you want a lower mortgage rate, you just check a few rate sheets, and the job is done and over. That sounds good, but the reality is that such an approach is likely to leave a lot of money on the table. Your money.

Homes for Sale in Davenport FL -  How do I see today's "real" mortgage rates?

The problem with looking at interest rates alone is that a mortgage is a piece of complex financial engineering. It has a number of moving parts. If the interest rate is all you check, you could miss higher costs elsewhere in the transaction. If you really want to find lower rates, you have to look at more than the big type.

…

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How to Buy a Home Even if You Have Bad Credit

How to Buy a Home Even if You Have Bad Credit

tect your credit score by reviewing it for mistakes, so you'll be ready to start the home buying process when you find a place you love.

Experts Answer Your Top Questions About Buying a Home With Bad Credit

Your credit score is one of the crucial determining factors in whether you can qualify for a mortgage in Davenport FL. “The higher your score, the less risky you appear on paper,” says Staci Titsworth, a regional manager at PNC Mortgage in Pittsburgh, PA. If that sends shivers up your spine, keep reading. We’re here to help.

The reality is that the average U.S. household has over $15,000 in credit card debt. You’re not alone if you’re…

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Low Down Payment Mortgage Options You’ve Never Heard Of

Low down payment mortgage options you’ve never heard of

Low-Down-Payment Home Buying Gets Easier In 2017

In case you haven't noticed, it's getting easier to buy a home in Davenport FL.

Interest rates have remained low, dipping below 4% of late according to mortgage agency Freddie Mac.

Also helping: banks are rolling out proprietary mortgage programs that require almost no down payment, and in some cases, no mortgage insurance.

Lending institutions are no doubt competing for home buyer market share. While rates are low historically, they are coming up from generation-long lows in 2016, which dried up much of the refinance activity. Now, lenders are desperate for business.

Home buyers are benefiting.

With as little as 1% down, home…

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Using the internet to help you Buy a Home

Buy A House Online: Pluses & Pitfalls

When buying a home in Davenport Florida, some people just love to look at real estate -- touring model homes every weekend, "looky-looing" in open houses and making real estate agents drive them around for months. They don't want to do there home search online.

But even if that describes you, there are some things your real estate agent can't disclose -- so the Internet can still be your friend. And the amount you can save on your mortgage by shopping online is truly wonderful.

Start "Mouse Hunting" Today

With today's technology, you can click your way through almost every step of your home purchase.

Even if you love looking for houses in the back seat of a Realtor's car, tech can help with…

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