How Long Will You Live In The House You Buy?

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Choosing a house to buy takes a little bit of vision. After all, it’s easy to know what you want in a home today, but more difficult to know for sure what you’ll want years from now. Things change and your life will undoubtedly take some unexpected twists and turns. But just how long should you expect to live in …

Mortgage Rate Increase Slows Demand

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According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates increased last week across all loan categories, including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans. The increase continues an upward trend that has caused some hesitation among borrowers, especially those looking to refinance. Michael Fratantoni, …

New Home Sales Improve For The 3rd Straight Month

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New home sales increased 4.5 percent in March, beating economists’ expectations and hitting a 16-month high. The data, from the U.S. Census Bureau and the Department of Housing and Urban Development, is more evidence that home buying conditions are becoming more favorable just as buyer demand heats up for the season. The combination of a strong job market and low …

Half Of Homes Sold In Under A Month In March

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The spring home sales season is underway and there’s no better proof than new numbers from the National Association of Realtors. According to their most recent existing home sales report, 47 percent of homes sold in March were on the market for less than a month. Additionally, the average number of days properties remained on the market was 36 days, …

Realtors Say Buyers Want Green Homes

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When it comes time to decide what type of home you want to buy, there’s a lot to go over. Beyond even the financial considerations, prospective home buyers have to make choices about the style of house, the size, number of rooms, the yard, storage, etc. Then they have to prioritize their wants and needs based on just how important …

Market Outlook Sees Stability Ahead For Housing

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Fannie Mae’s Economic and Strategic Research Group releases a monthly forecast detailing what lies ahead for the economy and housing market. And though their most recent release says the overall economy will slow this year, their outlook for the housing market is encouraging for potential home buyers and sellers. That’s because the group sees stability ahead. Doug Duncan, Fannie Mae’s …

Mortgage Rate Increase Doesn’t Deter Home Buyers

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According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates rose last week but the increase didn’t stop home buyers. In fact, demand for purchase loan applications rose 1 percent and reached their highest level in 9 years. Requests for loans to buy homes are now 7 percent higher than at the same time last year. Despite the …

Builders Say Demand Is High But Costs Are Rising

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Home builders are on the frontline of the housing market. Their business depends on knowing what buyers want and when they want it. That’s why the National Association of Home Builders tracks builder confidence in the market for newly built homes. When builders are optimistic about buyer demand, they build more homes, which helps balance the market and makes conditions …

Home Shoppers Ready To Take On Renovations

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In a perfect world, we’d all be able to buy a home that fulfills our wish list, is in great condition, and already has our preferred fixtures, features, and finishes. Of course, that isn’t the way things work. Buying a house requires compromise and, in some cases, a good strategy for how to fix the things you don’t like about …

ORRA HOUSING MARKET REPORT – MARCH 2019

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Orlando’s median home price and inventory maintain upward pattern in March  The Orlando housing market enjoyed a 2% increase in median price for the month of March, while year-over-year inventory rose 5% and experienced its fifth consecutive month of increase. Sales dropped 11% compared to last year. However, Orlando home sales of all types leapt 30% compared to last month …