article thumbnail

It hasn’t been this hard to buy an existing home in at least a decade

Housing Wire

As a frame of reference, a 20/1,000 turnover rate is a fairly typical for the modern housing market. Buyers of that home type had 33% fewer houses to choose from. Then, remote workers flocked to the suburbs to purchase large properties with space for adults to work from home and children to attend school from home.

Inventory 339
article thumbnail

Affordable housing inventory is limited due to foreclosure prevention efforts

Housing Wire

That key source of affordable housing inventory: distressed properties sold to third-party buyers or repossessed by lenders at foreclosure auction. My renovated homes are] reducing the number of rental properties , which in our town has become a source of demise.” This provides modern-feel homes to mostly newer homeowners.

Inventory 385
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The Pros and Cons of Buying a New Home vs. a Resale Home

Eppraisal

For all these options, however, a more fundamental question challenges buyers. These variables face every buyer when deciding between a re-sale house and a newly erected one. They can be tailored to the specifications of the buyer, though additional cost might be involved. So, buyers pay more on the front end or back end.

article thumbnail

How To Appraise Rural Properties

Appraisal Today

NOTE: Please scroll down to read the other topics in this long blog post on USPAP and Personal Inspection, GSE Appraisal Modernization, Transaction costs and values including real estate commissions, unusual homes, mortgage origination stats, etc. = Is the GSE’s “Appraisal Modernization” Really Just Mass Appraisal? By Dallas T.

article thumbnail

How to Sell Your House Fast in Chicago with Targeted Updates and Spot-on Pricing

Chicagoland Appraisal Blog

Which types of homes tend to be most attractive to buyers? Just as the housing stock in Chicago is incredibly diverse, so too is the pool of buyers. Last year was a tough market, and the only properties that were moving were the ones that were renovated,” she says. Westhoff notes that many buyers still prefer white cabinets.

article thumbnail

How For Sale by Owner Is Changing in Texas

Listing Spark

Buyers are also starting to search out FSBOs more readily because they want to pursue potential savings. Take a closer look at how FSBOs are changing in Texas and what you can do to benefit from the uptick in these property sales, both on the buy side and the sale side of the transaction. Some buyers’ agents may not prefer FSBOs.

article thumbnail

Unlocking Dreams: Embarking on the Journey of Florida Homeownership

Lamacchia Realty

This budget should account for all potential costs, including down payments, closing costs, property taxes, and homeowner’s insurance. Florida offers some financial perks to homeowners, such as the homestead exemption, which can provide significant property tax relief. But it’s not all about expenses.