FRIDAY - BLACK IS THE NEW BLACK
- Cabinets 101: How to Get the Storage You Want
- Average Down Payments Rise as Housing Demand Increases
- Rising interest rates won’t hurt home prices, at first
- What role do commute times play in the Bay Area housing market?
- Buyers Bought Bigger Homes in 2015
- One in Three Regret DIYing a Home Improvement Project
- 10 Home Projects to Work On Over Your Holiday Weekend
Enjoy!
Average Down Payments Rise as Housing Demand Increases - Average down payment percentages for conventional 30-year fixed rate purchase mortgage offers rose slightly in the third quarter to an average of 17.63 percent, up slightly from 17.34 percent in the prior quarter and 16.29 percent in Q3 2014, according to the latest national down payment report released by LendingTree. The average down payment amount also rose quarter-over-quarter to $48,924, a sizeable increase from the previous quarter's average of $44,204. The average down payment for all purchase mortgages, including FHA, VA, non-prime, and jumbo mortgages in the second quarter was $49,127 or 15.41 percent.
Rising interest rates won’t hurt home prices, at first - An increase in short-term interest rates — which looks highly probable in December — could slow home-price appreciation. But in the Bay Area, tech employers will matter more than the Fed, economists say. When the Federal Reserve’s rate-setting committee meets Dec. 15 and 16, there is a roughly 75 percent chance it will raise the short-term federal funds rate for the first time in more than six years — most likely by 0.25 percentage point, according to theCME FedWatch tool.
What role do commute times play in the Bay Area housing market? - A home’s “walk score” will become more relevant, not only for proximity to restaurants and coffee but also to public transportation. Currently, BART averages about 422,000 riders a day. Imagine what it would be like if all those people were on the roads.
Buyers Bought Bigger Homes in 2015 - In almost every region of the United States, buyers are trading up and buying bigger homes than last year, according to NAR’s 2015 Profile of Home Buyers and Sellers. The report found that 42 percent of all buyers traded up in the size of their home, an increase from 40 percent in 2014. In the 2014 report, buyers reported that they were looking for homes similar in size at 31 percent compared to 29 percent in 2015. Regionally, the percentage of buyers looking for larger homes increased across the board.
One in Three Regret DIYing a Home Improvement Project - While many people choose to tackle home improvement projects themselves to save money, nearly a quarter of those surveyed said their DIY project went over budget. This was especially true for larger-scale renovations, like building a new deck or refinishing a basement. Instead, DIYers were more likely to stay within budget on smaller projects such as painting or replacing plumbing fixtures.
10 Home Projects to Work On Over Your Holiday Weekend - Make the most of your time windfall by accomplishing one of your back-burner tasks. Some of my favorites:
