Home sellers expect to spend about $18,500 on expenses, but the actual cost is more than $67,000, according to a new report from Clever Offers, a platform owned by Clever Real Estate. The report found that on average, recent sellers spent: $21,024 on pre- and post-listing repairs and improvements $14,204 on seller’s agent commission $13,691 […]
$67K to sell a home? Consumers drastically underestimate the costs Read More »
Household income in the U.S. rose slightly in 2024, but the picture looks very different depending on where you live. The national median income reached $83,730 last year, up 1.3% from 2023, according to a new report from online fintech company SmartAsset. That modest increase failed to keep pace with the roughly 3% inflation rate,
Household income climbs in some big cities, outweighed by inflation in others Read More »
Speaking to thousands of real estate professionals at Coldwell Banker’s Generation Blue Experience 2025, company president Jason Waugh told agents that today’s market — despite volatility — represents one of the greatest opportunities of their careers. “We’ve been through three years of a contracting or flat market,” Waugh told attendees at Las Vegas’ Fontainebleau. “It’s
The Federal Reserve (the Fed) meets this week, and expectations are high that they’ll cut the Federal Funds Rate. But does that mean mortgage rates will drop? Let’s clear up the confusion. The Fed Doesn’t Directly Set Mortgage Rates Right now, all eyes are on the Fed. Most economists expect they’ll cut the Federal Funds
What a Fed Rate Cut Could Mean for Mortgage Rates Read More »
Efforts to abolish or deeply reform property taxes are gaining momentum in multiple states — including Ohio — where impassioned debate has cited potential funding shortfalls for local services, seniors being prices out of homes and further effects on the housing market. Howard Fleeter, an economist with the Ohio Education Policy Institute who has worked
Ohio property tax debate intensifies Read More »
U.S. real estate investors bought about 52,000 homes in the second quarter, the lowest level for that period since 2020, according to a report from Redfin. Purchases were down 6% from a year earlier — the largest drop since late 2023. Redfin, which analyzed purchase records across 39 major metropolitan areas, defines an investor as
Investor home purchases hit lowest second-quarter level since 2020 Read More »
Mortgage rates remain below the 50-year average, but most homebuyers see them as unusually high — a perception that is driving stress, delaying purchases, and reshaping major life decisions, according to a nationwide survey conducted in August. The survey of more than 1,000 buyers, released this week by Tomo Mortgage, highlights the gap between economic
Homebuyers strained by costs, confused about mortgage market Read More »
You’ve been waiting for what feels like forever for mortgage rates to finally budge. And last week, they did – in a big way. On Friday, September 5th, the average 30-year fixed mortgage rate fell to the lowest level since October 2024. It was the biggest one-day decline in over a year. What Sparked the
Mortgage Rates Just Saw Their Biggest Drop in a Year Read More »
The homeownership rate among Black Americans fell to 43.9% in the second quarter of 2024, the lowest level since late 2021, according to Redfin. That was down from 45.3% a year earlier and marked the steepest annual decline since the third quarter of 2021. By comparison, the Hispanic homeownership rate rose slightly to 48.8% from
Homeownership among Black Americans drops to 4-year low Read More »
California has become the first U.S. state to require homeowners selling older properties in high-risk wildfire zones to disclose not just a house’s vulnerabilities, but also steps taken to reduce those risks. The new mandate took effect in July and applies to houses built before 2010 – when the state strengthened building codes to withstand
Wildfire warnings accompany California’s older home sales Read More »