There's usually a long checklist of items to go through before selling a house. After all, you want to maximize your profit and make sure your home is attractive to buyers. That's why, in addition to cleaning up clutter, planting some flowers, and touching up chipped paint, you may be considering a renovation project. But not all renovations have the same return on investment. That's why the Appraisal Institute suggests hiring an appraiser to estimate your property's value before and after a potential upgrade. … [Read more...]

Each month, Fannie Mae's Home Purchase Sentiment Index surveys Americans to measure interest in home buying and selling. The index looks at how people view the housing market, home prices, mortgage rates, their jobs, income, and expectations for the future. In February, the HPSI was relatively flat from the month before but remained near all-time highs. In fact, the survey found 59 percent of Americans believe now is a good time to buy a house and 67 percent say it's a good time to sell. Doug Duncan, Fannie Mae's … [Read more...]

The National Association of Realtors' Pending Home Sales Index tracks the number of contracts to buy homes that are signed each month. The index is a good indicator of where home sales are headed because contract signings precede closings by a number of weeks. In January, the PHSI rose 5.2 percent from the month before and is now up 5.7 percent over last year at the same time. Lawrence Yun, NAR's chief economist, says conditions are favorable for home buyers right now and it may lead to an increase in buying … [Read more...]

Spring is traditionally thought of as the start of home buying season. Harsh winter weather begins to fade and interested buyers become more active. Because of this, homeowners who hope to sell often wait for spring to list their home. But what is the best time to put your home up for sale, if you want to get the best price for it? Well, it depends on where you are in the country. Naturally, in warmer parts of the country, it comes earlier than in others. For example, late March is the best time for selling in San … [Read more...]

New home sales are an important barometer for the housing market. When they're selling quickly, home builders build more homes, which helps balance inventory and keeps home prices from spiking. In other words, if you want to know how the housing market is doing, new home sales are a good place to check. That's why new numbers from the U.S. Census Bureau and the Department of Housing and Urban Development are encouraging. Their January New Residential Sales report shows a spike in sales, which are now at their … [Read more...]

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates fell 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 drop caused a slight increase in overall mortgage demand, with refinance and purchase activity combining for a 1.5 percent improvement over the week before. Mike Fratantoni, MBA's senior vice president and chief … [Read more...]

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates were up last week from the week before, with increases seen for 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate mortgages. The rate increase caused a drop in mortgage applications, which fell 6.4 percent from the previous week. Joel Kan, MBA's associate vice president of economic and industry forecasting, says the number of … [Read more...]

Like any big decision, buying a home requires a lot of thought and consideration. You have to figure out what you want, what you need, and what you can do without. But, if you're buying a home as a couple, you also need to compromise with your significant other. Because, chances are, the two of you will have some different ideas when it comes to the type of home to buy, the features you have to have, the neighborhood you'd like to live in, and the amount you'd like to spend. In fact, a recent survey found 77 … [Read more...]

Choosing a home to buy means considering everything from whether the roof is in good condition to whether the neighborhood fits your needs and lifestyle. And, since you're unlikely to find a home that checks every box on your wishlist, you have to prioritize. Are good schools worth sacrificing the big backyard you've always wanted? Can you stand a longer commute in order to live closer to family and friends? In short, you've got to make choices about what's most important to you. One factor that seems to be a … [Read more...]

The National Association of Home Builders conducts a survey each month to measure builders' confidence in the market for newly built homes. Because a builder's business depends on being able to accurately gauge consumer interest in buying homes, the survey is considered a good indicator of housing market health. In January, the NAHB's Housing Market Index hit 75 on a scale where any score above 50 indicates more builders view conditions as good than poor. Greg Ugalde, NAHB's chairman, says conditions are favorable … [Read more...]