Today's market is tough for many prospective homebuyers, with mortgage rates on average around 6-7%, and a shortage of homes for sale pushing up prices. However, for some buyers, now can still be a great time to buy. Plus, you can start building equity in your home and plan to refinance in the future. Continue to full article...
Rising interest rates and economic uncertainty have created challenges for borrowers. Mortgage brokers and agents play a crucial role in guiding clients through these challenges and providing financial advice. It is essential for mortgage professionals to prioritize building relationships and offering advice rather than focusing solely on transactions....
When deciding whether to move or remodel a home, many factors should be considered, such as the cost of materials, the cost of hiring a contractor, the need for specific features, and the location of the home. Researching home prices and neighborhoods in the area can help determine if it is better to move or remodel. Continue to full article...
A new analysis suggests that office buildings won't recover from pandemic-related value reductions until around 2040. The prolonged recovery is attributed to the shift of people away from city centers and the adoption of remote work practices....
Baby boomers often fail to negotiate their mortgage rates, missing out on potential savings. Negotiating a lower interest rate can save thousands of dollars over the life of the loan. Strategies for negotiating a lower rate include shopping around, improving credit scores, and paying down debt....
This article provides tips for finding and working with cash home buyers as an alternative to the traditional process of selling a house. It suggests researching potential buyers, getting multiple offers, and looking for flexibility and convenience when choosing a buyer. It also advises seeking advice from a realtor or property attorney to ensure a fair and competitive offer. Continue to full...
Georgians would need 9.4-yr to save up for a 10% down payment on the typical home. This would require saving 5% of the median household income every month. To achieve a 20% down payment, homebuyers would need to save 10% of the median household income in the same time frame....
In July 2023, the avg price of a house in Georgia was $320K, ↑ 1.3% yearly. In the Atlanta metro area, the avg home price was higher than the state avg, with $377K....
The shift to hybrid or remote work has led to a 50% vacancy rate in downtown office buildings in the US. Converting vacant office towers into residential spaces is seen as a solution to the housing shortage. However, demolishing existing office towers and building residential multifamily properties from scratch is more cost-effective....
In response to the Bank of England raising interest rates at their fastest pace since gaining independence, many households with mortgages have seen their monthly repayments increase by 50%, from £600 to £900 overnight. This has put many households at risk of becoming cash-flow insolvent, and government schemes are in place to adjust repayments and provide liquidity. Looking to the future, wages will...
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