2019 Will Be A Great Year For Buyers AND Sellers

by Builder Trade In Program Feb, 19

 

Many homeowners believe that rising interest rates and home prices have scared away buyers and therefore have not listed their houses for sale. However, the truth is that buyers who were unable to find a home last year are out in force, and there are even more coming!

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Home construction will be driven by pent-up demand study says

by Builder Trade In Program Feb, 19

HomeMarket Update

by Steve Randall19 Feb 2019

 

 

America's housing market is booming with home prices nationwide now back to where they were a decade ago, just before the financial crisis

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Whose Mortgage Do You Want To Pay? Yours Or Your Landlord’s?

by Builder Trade In Program Feb, 13

There are some people who haven’t purchased homes because they are uncomfortable taking on the obligation of a mortgage. However, everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

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How Co-Living Fits Into the Future of Real Estate Development

by Builder Trade In Program Feb, 13

In many areas of the country, older buildings and neighborhoods are falling to ruin. What if you could invest in these areas and not only rejuvenate the neighborhood, but increase available housing at the same time?

As a real estate developer, you can, by creating co-living buildings. Over the past few years, companies like WeWork have changed the way we imagine office spaces. Many small businesses are beginning to resemble tech companies with communal areas and weekly activities. By trading in traditional cubicles for fully furnished and inviting open spaces, employees have the necessary equipment and comfort to conduct efficient business at a fraction of the cost.

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Buyers are finally finding more discounts on new homes — but only in these cities

by Builder Trade In Program Feb, 12

As housing prices go through the roof, new homes are increasingly likely to be discounted.  Buying a new home doesn’t need to break the bank as more buyers are finding discounted properties.

Across the U.S., 25.1% of newly constructed homes had a price cut during the fourth quarter of 2018, according to a new report from real-estate firm ZillowZG, +2.58% That’s a sharp increase from the 19.2% of new homes that were reduced in price before being sold in the first quarter of last year.

Denver saw the largest share of new homes with price cuts at more than 40% during the fourth quarter.

In some of the markets where new homes discounted the most, however, the properties were hardly a bargain. In San Francisco and Los Angeles, the average price cut on a new home was 8.5%. Nevertheless, the average new home in Los Angeles still cost $2 million, even with a price cut.

Faced with high construction costs, builders chose to construct larger, more expensive properties in a bid to fetch a higher sales price. However, rising home prices have kept many would-be buyers on the sidelines in a trend that shows no sign of stopping thanks to the tight inventory across many housing markets nationwide.

To that extent, Zillow’s report could read yet another sign that the housing market is resting on a shaky foundation as 2019 kicks off.

But builders aren’t necessarily getting desperate. Indeed, home-builder confidence rebounded from a three-year low this month, according to the results of survey from the National Association of Home Builders. That could be because fewer new homes are getting built these days, which increases the likelihood that they will be sold for a price above asking.

“New home-building inched upward for most of the past few years, but about a year ago permitting activity began to pull back,” said Aaron Terrazas, a senior economist with Zillow. “With fewer new homes in the pipeline, these price cuts may prove to be a fleeting phenomenon.”

Moreover, Terrazas said the price cuts that have occurred recently are less a sign that the homes’ sellers were desperate and more an indication that appraisals were coming in lower than previously expected.

Selling Your House? Price It Right Up Front

by Builder Trade In Program Feb, 11

In today’s market, where demand is outpacing supply in many regions of the country, pricing a house is one of the biggest challenges real estate professionals face. Sellers often want to price their home higher than recommended, and many agents go along with the idea to keep their clients happy. However, the best agents realize that telling the homeowner the truth is more important than getting the seller to like them.

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Why Real Estate Builds Wealth More Consistently Than Other Asset Classes

by Builder Trade In Program Feb, 06

 

If you lived through the recent real estate and economic recessions, the very headline of this article might cause you some emotional pain. Less than ten years ago, the country was swept with an economic crisis the likes of which our generation had never seen. I personally remember driving down the street in California’s Central Valley and seeing “for sale” signs on practically one of every four houses. It felt like the market would never recover. Fast forward a few short years and now massive wealth is being built through real estate—often by average Joes.

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Mortgage Rates Rise For First Time In 2019 But Are Expected To Fall From Here

by Builder Trade In Program Feb, 05

So far this year, the 30-year-fixed has averaged 4.46%

Rates for home loans ticked up slightly but look set to fall in the coming weeks as investors gird for a slower-growth economy.

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Welcome to your Weekend!

by Builder Trade In Program Jan, 30

Waste Management Phoenix Open

Annually sporting the largest crowds on the PGA Tour, the Waste Management Phoenix Open has gained legendary status on Tour for being unlike any other golf tournament. It starts with the unbelievable golf played by the likes of Rickie Fowler, Brandt Snedeker, Bubba Watson, Phil Mickelson, and Keegan Bradley on the beautiful TPC Scottsdale and ends with the biggest galleries on Tour.

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Mortgage Delinquency Rates Fall To Historic Lows

by Builder Trade In Program Jan, 29

CoreLogic® (NYSE: CLGX), Irvine, today released its monthly Loan Performance Insights Report, which shows that, nationally, 4.1% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in October 2018, representing a 1 percentage point decline in the overall delinquency rate compared with October 2017, when it was 5.1%. This was the lowest for the month of October in at least 18 years.

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