Conventional loans are a popular type of loan for home buyers, offered by private lenders and requiring a down payment of 3-5% and decent credit. These loans come in two main varieties - conforming loans with a maximum loan amount set by the government, and non-conforming loans with no limit. Borrowers should consider their individual situations to determine which type of loan is right for...
25% of homeowners plan to buy new homes in the next two to five years. Homeowners may wait a min of two years to avoid capital gains tax. They also may rely on the equity in their current home for their next purchase....
Experts predicts ↓ 35% drop in office values by 2025 due to rising interest rates and reduced demand. Structural shifts in remote work and reduced physical occupancy contribute to the decline in office space demand. Vacancy rates have increased, leading to negative rental growth and falling net operating incomes....
The August Rental Activity Reports from RentCafe show a shift in renter preferences, with The Bronx rising three spots to #6, Queens jumping six spots to #13, and Manhattan climbing one spot to #37. This is due to decreases in listings and increases in page views, favorited apartments, and specific searches. These trends demonstrate changing housing dynamics and evolving urban landscapes. Continue...
If you're a homeowner needing to move, you may have considered using your current home as a short-term rental or Air BnB property rather than selling it. A short-term rental (STR) is often offered as an alternative to a hotel, and it's become a popular investment in recent years. While a short-term rental may seem appealing, the reality of being responsible for one may be tough to...
Wisconsin leads in property investment interest, with 459.4 monthly searches / 100K people....
The state of Georgia has launched a program called Georgia Mortgage Assistance which allows eligible residents to receive grants up to $50,000 to help pay off their mortgage. The program is funded by the American Rescue Plan Act of 2021 and applications are now open. There are three different ways the program can assist recipients, including mortgage reinstatement, reducing the total mortgage loan...
For first-time homebuyers, understanding and navigating the pre-approval process can be a daunting task. However, with the right knowledge and preparation, it can be a smooth and efficient process. The top 10 tips for first-time homebuyers include understanding the importance of pre-approval, checking your credit score, determining a budget, gathering necessary documentation, researching lenders,...
Smart home products and systems are increasingly influential in attracting buyers across different price points. >34% of likely buyers would pay a few thousand dollars extra for a smart home compared to a non-smart home. ~85% of buyers consider smart home features important, with ~40% expecting to pay no additional cost....
Homeowners who are looking for ways to access cash in their home without having to refinance to a higher rate than what they currently have can explore their home equity options. These include home equity loans, which come with lower interest rates than other credit types and a tax deduction on the interest paid, and HELOCs, which have variable interest rates and allow borrowers to deduct up to 80% of...
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