The misconception about down payments continue to hinder millennials from the possibility of owning a home.An outlook study conducted by United Shore Financial Services along with Michigan State University found out that a whopping 96 of its respondents became more interested in purchasing a home after finding out that down payment could actually be the…

Why CMAs, appraisals and listing prices arent always important nbsp; Key Takeaways Many buyers mistakenly listen to the advice of friends and family before consulting an agent. A home is always worth what the highest bidder is willing to pay. With an extreme shortage of housing inventory plaguing many markets across the country, manynbsp;homeownernbsp;wannabes are…

The median value of US homes has increased to $198,000 according to data from Zillow.The increase in April is 1 above the peak of 2007 ($196,600) and the year-over-year rise was 7.3 as tight inventory saw increased competition in many markets.However, comparing current conditions to a decade ago, Zillowrsquo;s chief economist Dr Svenja Gudell dismissed…

Agents can save sellers time, money, liability and hassle Key Takeaways: FSBOs are more costly than homeowners realize — including lower sales prices and hidden fees. Selling a home is a complicated transaction — sellers and buyers alike can get burned with FSBOs. Time costs money — a FSBO costs the seller valuable time, and…

Home prices in the U.S. increased 6 percent in the first quarter from a year earlier as competition heated up for a scarcity of listings. Prices rose 1.4 percent on a seasonally adjusted basis from the previous three months, the Federal Housing Finance Agency said in a statement Wednesday. In March, prices climbed 0.6 percent…

Buying a house can be both an exciting and simultaneously stressful experience. Onenbsp;reason the home buying process tends to be so stressful for many consumers mdash; besides the fact that itrsquo;s probably the biggest purchase yoursquo;ll ever make mdash; is the rigorous qualification process involved in gettingnbsp;approved fornbsp;a mortgage. If yoursquo;re preparing for a mortgage…

Nationwide, US homeowners could spend up to $15,190 in hidden costs when selling their home, according to a new analysis from Zillow and local services marketplace Thumbtack.These hidden costs could come as a surprise, as 63 of todayrsquo;s sellers are selling their homes for the first time.Home improvementsldquo;More than eight out of 10 home sellers…

Existing-home sales are poised to see their best year in a decade, but low supply and affordability still threaten to keep the homeownership rate down, according to the National Association of Realtors.Lawrence Yun, chief economist for the NAR, recently presented his 2017 midyear forecast. According to Yun, the first quarter saw the best quarterly existing-home…

Deciding between a VA loan or a conventional loan may seem easy. No money down, no mortgage insurance, a better interest rate mdash; a VA mortgage wins hands down, right? But when you consider things like thenbsp;VA funding feenbsp;and perhaps putting enough money down on a conventional mortgage to forgo mortgage insurance, the choice may…

Theres a definite lack of housing inventory, and part of it can be attributed to sellers staying put Key Takeaways Most sellers are also hoping to buy, so they are facing the same market constraints as buyers. Housing supply has not kept up with demand because building has become increasingly expensive. Rising mortgage rates and…