Mortgage demand crashed last week, despite a decline in interest rate hikes and a stronger start to the year in January. Total mortgage application volume tumbled 9 percent for the week ending Jan. 27, compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index on Feb. 1. “Mortgage rates declined for the…
Mortgage Demand Crashes, America’s 3rd Biggest Homebuilder Posts 41 Percent Drop in New Home Orders
February 1, 2023
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The Four Critical Components of Homeowners Associations (HOAs)
Dear Monty: We are considering buying a home in a homeowners association. The agent calls it an HOA. We have heard both positive and negative reviews about the concept. Are homeowners associations a good idea? Monty’s Answer: There are many homeowners associations. Estimates vary, but the U.S. Census Bureau has published data on the number…
Real Estate Versus Gold Investment: Which Is Better?
When considering retirement investments, most people stick to the stock market and invest in stocks, bonds, and mutual funds. Gold and real estate provide alternative options for retirement investing. Both gold and property offer instant diversification from the stock market. As with traditional assets, you can invest in paper alternatives to physical gold and real…
Tennessee Population Grows as Residents Flee More Liberal States
January 28, 2023
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Peace and quiet are major factors why people are moving from more crowded states like New York and California for smaller-yet-growing states like Tennessee, but other reasons have accelerated peoples’ move to the area. In interviews with The Epoch Times, three individuals who moved to small towns in the Southeast region of Tennessee over the…
Housing Market Shows Signs of Life as Pending Home Sales Rise for First Time in 14 Months
January 27, 2023
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The U.S. housing market showed a sign of early recovery, as pending home sales of rose for the first time in 14 months. Pending home sales rose 2.9 percent in December, the first month-over-month increase since October 2021, according to data from Redfin on Jan. 25. The decline in pending sales also eased for the…
Los Angeles County Extends COVID Eviction Ban Again, Following City of LA
January 25, 2023
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Following in the footsteps of the Los Angeles City Council earlier this week, the Los Angeles County Board of Supervisors has voted to extend the COVID-19 era emergency protections for renters—this time for for another two months. The protections were set to expire on Jan. 31. Under the emergency order, tenants eligible for such protection…
Twenty-Five Percent of Homebuyers Looking to Shift to New Metro Areas Due to High Cost of Housing: Report
January 25, 2023
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Roughly a quarter of Redfin homebuyers looked to move to a different metropolitan area in the fourth quarter of 2022 owing to home affordability issues, with places like Sacramento, Las Vegas, and Phoenix topping the list of destinations. In fourth quarter 2022, 24.6 percent of Refin users wanted to shift to a new metro area,…
Nine Reasons to Adopt Real Estate Technology
Dear Monty: At some point in the next few years, we will sell our home. We have been here 25 years and raised our kids here. My wife and I have resisted modern technology. We get along fine with paper road maps. I have an old flip phone, but my work is outdoors, and my…
Using Home Equity Credit? What Not to Do
January 23, 2023
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A home equity line of credit (HELOC) uses your home’s equity to finance a variable interest-rate loan. You wouldn’t have the money upfront like you would a conventional loan. Instead, you draw against your line of credit. With a HELOC, your home is your collateral. There are times a HELOC is a worthwhile mechanism. But…
Will More Chinese Buyers Flood US Real Estate Market as China’s Borders Reopen?
The first time since the beginning of the pandemic, China’s borders have recently reopened, allowing tourists and potential international homebuyers to travel freely throughout the globe. And according to Juwai IQI, one of the largest global real estate platforms with almost 13 million monthly consumer engagements, the United States is the second most popular home-buying…
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