What Record-Low Housing Inventory Means for You
Total housing inventory at the end of December totaled 1.07 million units, down 16.4% from November and down 23% from one year ago (1.39 million).
What Happens When Homeowners Leave Their Forbearance Plans?
Banks likely don’t want to repeat the mistakes of 2008-2012 when they put large numbers of foreclosures on their books. This time, many will instead negotiate a modification plan with the borrower, which will enable households to maintain ownership of the home.
Owning a Home Is Still More Affordable Than Renting One
Owning a median-priced three-bedroom home is more affordable than renting a three-bedroom property in 572, or 63 percent of the 915 U.S. counties analyzed for the report.
What’s the Difference between an Appraisal and a Home Inspection?
In simplest terms, a home appraisal determines the value of a home, while a home inspection determines the condition of a home.
Will Forbearance Plans Lead to a Tsunami of Foreclosures in 2021?
Today, almost three million households are actively in a forbearance plan. Though 29.4% of those in forbearance have continued to stay current on their payments, many have not.
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Should I Wait for Lower Mortgage Interest Rates?
As vaccines become more widely available and a return to normal starts to come into view, we’ll see mortgage rates bounce off the record lows.
Key Terms to Know in the Homebuying Process
Here is a list of some of the most common terms in the homebuying process.
A Homeowner’s Net Worth Is 40x Greater Than a Renter’s
Recent data from the Federal Reserve indicates the net worth of a homeowner is actually over 40 times greater than that of a renter.
Where Are Home Values Headed Over the Next 12 Months?
The only major industry to display immunity to the economic impacts of the coronavirus is the housing market.
Homes Across the Country Are Selling Fast
According to the latest report from the National Association of Realtors (NAR), in July, 68% of homes were on the market for less than a month.