Just like that, another year has gone by, well, almost. There are still a few days left and anything can happen. In the meantime, I present my latest installment of real estate and mortgage predictions for the year 2018, which I hope will be a fantastic one for all. As always, you can see my… Read More »2018 Real Estate and Mortgage Predictions
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Redfin just launched its so-called âCompete Score,â a tool designed to help prospective home buyers determine how hard itâll be to âwin a homeâ in a particular city or neighborhood. Is this the beginning of the end? The late stages of a housing market rally that began nearly six years ago depending on the region… Read More »Redfin Compete Score: How Hard Is It to Win That Home?
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Looking to move to one of the most popular Salt Lake City neighborhoods? See which areas are most searched by ApartmentGuide.com renters.
The post The 5 Most Popular Salt Lake City Neighborhoods for Renters appeared first on Apartment Living Tips – Apartment Tips from ApartmentGuide.com.
Charleston offers beaches, a thriving culture and an incredible food scene.
The post The Cost of Living in Charleston appeared first on The Rent. Blog : A Renterâs Guide for Tips & Advice.
Minneapolis might be known for cold winters, but it’s quickly becoming one of the fastest-growing cities in the country. Here are the 5 most popular neighborhoods.
The post The 5 Most Popular Minneapolis Neighborhoods for Renters appeared first on Apartment Living Tips – Apartment Tips from ApartmentGuide.com.
Explore the pros and cons of living in Los Angeles, including its sunny weather, diverse culture, high cost of living, and traffic congestion. Make an informed decision before moving to this vibrant city.
The post Is Los Angeles a Good Place to Live? 12 Pros and Cons of Living in LA appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.
Existing home sales in October were down 28.4% year over year, the largest year over year existing home sales decrease since 2007.
This week, Kim and I hired a contractor for what we hope will be the last major project on the “country cottage” we bought last summer. We’re replacing our rotting back deck and installing a hot tub. It’s an expensive (and extensive) project.
The cost hurts all the more because we’ve already poured nearly $100,000 into performing needed repairs on this property. (In fact, as you may remember, we considered forgoing the deck replacement altogether.)
Budgeting for this job led me to reflect on the costs of owning a home. Like my colleague J.L. Collins (who believes a house is a terrible investment), I refuse to join to the cult of of homeownership. Yes, I own a home — and have for 24 out of the past 25 years — but I’m under no illusion that this is a smart financial move. Kim and I want to own an acre of land in the country, which is why we bought this place. We didn’t buy it because we think it’ll make us wealthy. (It seems to be having the opposite effect!)
Today, both for entertainment and catharsis, I want to spend some time talking about the high costs of homeownership. And lest you believe the stories below simply prove that I’m a fool with money, I want to point out that my experiences seem typical. Everyone I talk to about homeownership has similar tales to tell. I’ll bet you do too!
Black Knightâs Mortgage Monitor for December highlights a continuation of recent home price declines, an overview of current loan performances, rate lock activity, and buyer use of buydowns. December saw the sixth straight monthly decline in Black Knightâs Home Price Index (HPI). The seasonally adjusted index fell 0.45 percent from November , roughly on par with the 0.48 percent average decline over those six months. The unadjusted index was down 0.87 percent. Decemberâs decline pushed the annual home price growth rate down to 5.0 percent — only 0.4 percent above its 30-year average â and the slowest home price growth rate since June 2020, near the start of the pandemic. However, if recent monthly changes are annualized, they would represent a 3.8 to 7.7 percent decline which may offer insight into where we could be headed in coming months. If the current pattern persists, the company estimates we will see the annual home price growth rate turn negative within the next three months. As always, there are substantial differences in markets. Fourteen of the 50 largest have seen declines of 6 percent or more from the 2022 peaks, with San Francisco, San Jose, Seattle, and Phoenix all falling more than 10 percent on an SA basis while one in five markets have fallen 10 percent or more on an NSA basis. Four markets, Kansas City, Indianapolis, Virginia Beach, and Louisville continue to see SA prices rise. Declining home prices, of course, mean a loss of homeowner equity and Black Knight estimates it has fallen by $2.3 trillion or 13 percent over the last two quarters . Tappable equity, the share available to borrow while still maintaining a 20 percent cushion â fell by $1.8 trillion over that span. This is an annual change of -1 percent, marking the first decline in equity available to lend against since 2012. West Coast markets are exacerbating the issue. Los Angeles, San Francisco, San Jose, and Seattle account for nearly one-third of the overall national decline over the past two quarters.