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Pets can take a major bite out of your home’s resale value, The Wall Street Journal reports. Scratched doors, stained floors, and chewed-up furniture can prove costly for homeowners to repair.Homeowner Lexi Methvin knows all too well how pricey pet damage can be. Since purchasing her $1.25 million home in Basalt, Colo., three years ago, she told the WSJ that she estimates she’s spent between $25,000 to $30,000 on dog-related home re
September has proven to be the most volatile month for the 30-year fixed-rate mortgage since March. Average weekly movement on rates has fluctuated 11 basis points in that time, Freddie Mac reports. This week, mortgage rates fell after posting the largest uptick in nearly a year last week.“With both unemployment rate and mortgage rates below 4% and near historic lows, it is no surprise that the housing market regained momentum in home sale
Don't expect a lapse—not yet anyway—in the National Flood Insurance Program, the country’s largest flood insurer. The program has been set to expire on Sept. 30, but the U.S. Senate recently passed an extension that would keep the program afloat until Nov. 21. The House had previously passed the extension. The bill is expected to be signed by President Donald Trump.This extension will mark the 13th time the program—which is bill
It was a good time to be a home buyer in 2012. Homeowners who purchased a home the year prices bottomed out have earned a median of $141,000—or a whopping 261%--in home equity, a new analysis from Redfin concludes. In the majority of housing markets nationwide, the year 2012 offered home buyers the lowest purchase prices following the Great Recession.The average home that sold in 2012 has risen $110,000 in value—from a median sales price of $
Lower mortgage rates are prompting more home buyers to consider new-home construction, builders say. Sales of newly built single-family homes surged in August, rising 7.1% to a seasonally adjusted annual rate of 713,000 units, the Commerce Department reported Wednesday. This marked the second time in three months that new-home sales rose above 700,000. Further, new-home sales have now jumped 18% compared to a year ago.The latest report follows on
All four major regions of the U.S. posted growth in sales contract activity last month, led by the West, the National Association of REALTORS® reported Thursday. NAR’s Pending Home Sales Index—a forward-looking indicator based on contract signings—rose 1.6% last month, erasing last month’s decrease. Contract signings are now up 2.5% year over year, NAR reports.“It is very encouraging that buyers are responding to exceptionally low inte
Don’t count bricks-and-mortar retail out. It’s still more profitable than e-commerce, and online retailers are starting to pay attention to that, according to a new report released by CCIM Institute, a commercial investment real estate organization, and the Alabama Center for Real Estate.The industry is rapidly evolving against the threats of e-commerce that has taken the blame for the glut of bankruptcies and store closings over the past dec
Prospective first-time home buyers may need more guidance and assurance. Only 41% of first-time buyers recently surveyed say they felt prepared for the homebuying process. Forty-seven percent believe the homebuying process is “rigged” against the buyer, and 44% fear making a costly mistake, a new survey from Framework, a resource on homeownership. The company surveyed more than 600 prospective and recent first-time home buyers.Fifty-five perc
A big culprit to the ongoing housing shortage: The dwindling number of new-home construction over the last several years. A new study from John Burns Real Estate Consulting is putting it into perspective at just how much new-home construction has been lagging: The top 10 housing markets in the country are building at a rate that is 54% lower than they were 14 years ago.Markets like Chicago, Riverside-San Bernardino, Calif., and Las Vegas have bee
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