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Acquiring the Down Payment Largest Obstacle for First-Time Homebuyers

A recent survey concluded that the number one misconception and cause for dwindling first time homebuyers is being required to put 20 percent down when it comes to securing a mortgage. Other believed factors include a reduced number of houses on the market, growing student debt, and rising interest rates. Constant dialogue between industry professionals and the education of prospective buyers can help remedy this trend.

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Housing Prices Surge and Listing Times Decline During April

While April continues a 19-month trend of decline in the number of houses on the national market, down 13.3 percent, market demand continues to surge, causing rising prices and decreased median time from listing to going under contract. Many houses across the country are selling above their asking price. This trend could continue through May and June as more houses appear on the market.

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“Forever Homes” Not Forever Anymore

Fifty-six percent of homebuyers deem that “forever homes” are outdated. With changing lifestyles and shorter tenure in homes, buyers are looking to new home construction rather than a resale in order to get the exact floor plan they want. Higher interest rates are not a turn off for the present-day buyer who prefers convenience to price.

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RedVision Welcomes New VP of Operations

RedVision is under new leadership. Industry veteran Tim Padgett joins the title and real property research company, overseeing internal operations. Padgett’s experience will bring valuable input to the table.

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Real Matters Celebrates Significant Milestone

Recently, Real Matters’ senior management, Real Matters and its guests attended the market’s open ceremony. Directors, key stakeholders and supporters rang the opening bell of the Toronto Stock Exchange. This marked a new level of growth for the 13-year-old company.

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Mortgage Apps Decrease by 20 Percent Month-Over-Month

Mortgage applications for new homes decline after experiencing a peak in March. The relatively strong March may have contributed to April's low numbers. Despite steady demand for housing, homebuilders continue to face rising costs for labor and materials which will continue to moderate the pace of building.

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Buyers Question How Far Their Dollar Really Goes

Findings show that though you may be able to get a 3,500 square foot home in Indiana for $300,000, the same dollar amount will only get you 600 square feet in Washington, D.C. Getting a realistic sense of how many square feet for the dollar can be purchased before shopping will ultimately save your potential homebuyers heartache. Learn the top, and bottom, states where homebuyers can get the most space for their dollar.

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JPMorgan: Spending Rises With Predictable Rate Drops

A new JPMorgan Chase Institute report highlights the link between interest rate changes and consumer spending for homeowners with adjustable-rate vs. fixed-rate mortgages. The study, released on Thursday, could provide valuable insight to housing policy makers regarding how their actions affect the type of mortgage a homeowner chooses as well as how they impact the consumption habits of homeowners with ARMs, compared to those with fixed rates, throughout the business cycle.

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