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Urban home values growing faster than ‘burbs in Midwest

Housing Wire

A Zillow report released Thursday shows urban home values in Midwest cities — namely, St. Louis, Cincinnati, Cleveland, Kansas City, Columbus and Indianapolis — have risen faster than suburban home values over the past several months. Today, both sellers and buyers expect to handle a majority of the process online.

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Buyers rush to lock mortgages as rates move fast and furious

Housing Wire

Mortgage origination activity rose last month despite rapidly rising mortgage rates as prospective buyers sought to lock in their loans. While cash-out refinance activity, which has been somewhat insulated due to strengthening home values, rose a mere 1.6% Presented by: Stewart Title. during the same period.

Buyers 370
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Millennials struggle to compete with boomers for homes

Housing Wire

From 2009 to 2019, the share of recent buyers who are 60 years and old grew 47% , while the share of recent buyers ages 18-39 fell by 13%. From 2009 to 2019, the share of recent buyers who are 60 years and old grew 47% , while the share of recent buyers ages 18-39 fell by 13%. Presented by: Doma.

Buyers 539
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Reverse purchase financing: The financing option no one is talking about

Housing Wire

This cohort accounted for 1,950,000 properties — equating to 39% of total homes purchased! 1 With over 12,000 Americans turning 65 every day in 2024, this burgeoning market will undoubtedly continue to bring more buyers and sellers to the table over the next decade. Yet staggeringly few are aware of its existence.

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Zestimate to double as Zillow’s iBuying offer

Housing Wire

The “Zestimate,” Zillow’s catchy ( and soapy ) name for estimated home values, will sometimes be used as the initial offer Zillow plans to pay to purchase a home, the company said on Thursday. Zillow’s own estimated home value is to guide the company on a “limited subset of homes” in 20 markets.

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Biden tax credit to rehab homes is finally unveiled

Housing Wire

Presented by: Altisource. President Biden also announced the Neighborhood Homes Tax Credit, which would incentivize the rehabbing of outdated homes. Investors who acquire and renovate older homes could claim the credit on their federal tax returns, as long as the home is sold to and occupied by an eligible buyer.

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Millions will enter housing market in 2021: Zillow

Housing Wire

“The pandemic has catalyzed purchases by millennial first-time buyers, many of whom can now work from anywhere.” Presented by: Propertybase. Approximately 80% of those surveyed said they would like to view a virtual home tour and a digital floor plan before buying, if they were shopping for a home.