In the aftermath of Hurricane Florence, a new problem is surfacing: The shrinking number of households that have flood insurance.Flood damage is not included in a standard homeowners’ insurance policy. So if a mortgage lender does not require a borrower to obtain it, the onus falls on the homeowner to seek it out. For some, the extra money to do so may make this unlikely. As of April 2017, the average annual premium for a policy through the Na
A housing market defined by rapidly rising home prices, bidding wars, a lack of inventory, and sellers with the upper hand in negotiations may be changing. “The signs are pointing to a market that’s shifting toward buyers,” says Danielle Hale, realtor.com®’s chief economist. “But in most places, we’re still a long way from a full reversal.”After all, home sales aren’t exactly tanking. Prices for existing homes were up 4.6 percen
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If you give clients a list of inspectors to contact, be sure all of those inspectors are qualified. Your buyer and the seller have a signed contract and now the inspection process begins. You tell your buyer she needs a general property inspection and her first question is, “Whom do you recommend?” It’s a good practice to give her three choices if you decide to offer that help. She picks an inspector, the inspection proceeds, and the transa
More young adults in search of affordable housing are moving to states like Ohio, Michigan, and Wisconsin. This area of the country—known as the Rust Belt—has seen its population decline in recent years, mostly from the loss of manufacturing and plant jobs. But the region could soon see a resurgence due to a swarm of millennials looking for a place to call home.It’s not just the affordable homes in the area that are luring this age group, C
As housing inventory increases and home prices begin to ease, the door to homeownership is opening for more buyers. But Freddie Mac economists aren’t optimistic that the real estate market will be able to break even with last year’s sales levels.In their September forecast, Freddie's economists point to a booming economy and job market, but point out a stalled housing market. They consider the main factors to be weaker housing affordabilit
Tom Ferry’s five step plan to finish the year strong--and start the new year even strongerIf you want to finish 2018 strong and make 2019 your best year ever, I’ve got five actions to help you crush Q4.Start by downloading your business plan bundle to help set your goals and determine the actions needed to achieve them!Step one: decide what you wantWhat do you want your business to look like when January 1 arrives? Specifically:How many esc
The fall season is cooling down more than the temperature outside; it's also putting a much-needed chill on hot housing markets, where home prices have become unaffordable to the average buyer. More than one in four home sellers dropped their asking price last month, according to a new report by real estate brokerage Redfin. With inventory starting to inch up, sellers are facing stiffer competition in the market and adjusting their price expectat
Home shoppers are unwilling to negotiate on certain amenities, and prime among them are central air conditioning and a private patio or backyard, according to a new survey of more than 1,000 homeowners conducted by remodeling site Porch.com. On the other hand, prospective buyers are less likely to consider stainless steel appliances or a swimming pool as deal-breaking must-haves.Renters and homeowners differ quite a bit in their priorities, the s
Median home prices in cities with the highest risk of natural hazards have increased an average of 40 percent over the last 10 years, according to ATTOM Data Solutions’ 2018 Natural Hazard Housing Risk Index. That compares to an average increase of 24 percent in home values nationwide over the same time period. ATTOM Data Solutions tracked the risk of natural disasters, such as earthquakes, floods, hail, hurricane storm surges, tornadoes, and w
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