Real Estatin' the Facts

   Here's the weekly round-up of news. Check it out, save it for later, and/or share it with your friends. Enjoy! Buying a second or third home is more popular than ever Source: Bloomberg With the rise of remote working, second homes are becoming a viable option for more buyers seeking a better work/life balance. Nearly one in five respondents to a Knight Frank Global Buyer Survey said they moved since the start of the pandemic and one in three said they were more likely to buy a second home as a result of the pandemic, up from 26% the prior year. Low interest rates on home loans, pandemic-era savings and a hybrid-work revolution have made it more feasible for people, not just the ultra-rich, to live a dual lifestyle. That fundamental change in where and how people live stands to infuse second-home markets, once reliant on weekenders and seasonal visitors, with greater demand for restaurants, retail and other amenities that make urban dwelling so appealing.  Read more...  Lenders a

   Here's the weekly round-up of news. Check it out, save it for later, and/or share it with your friends.  Enjoy! More than half of Americans don’t mind commute Source: Compare.com Slightly more than half of American workers recently surveyed said they enjoy their commute to work, according to a survey of about 1,000 people conducted by Compare.com, an auto insurance website. Only 21% of those surveyed consider their commute a negative part of their day. What’s more, 91% of consumers who favored commutes said it is at “least slightly important” to have a commute for a good workday, the survey says. Most workers said it gave them time to prepare for the day, they appreciated the alone time, and it allowed them time for reflection. Also, 41% said they used that time to unwind before arriving home.  Read more...    Co-buying skyrockets in past 7 years Source: REALTOR® Magazine Millennials are pooling their finances with roommates, friends, and significant others to buy a home togethe

   Here's the weekly round-up of news. Check it out, save it for later, and/or share it with your friends. Enjoy! Signs that buyers will see good opportunities in the fall Source: Nerd Wallet Hopeful buyers who keep getting shut out may soon find better luck this fall, as several signs in the housing market point to more potential buying opportunities. For one, competition is reportedly cooling, and listings are receiving fewer offers. In September, the real estate brokerage Redfin reported that bidding wars reached their lowest level this year. Also, more listings are coming to market, offering buyers more choices, according to a Realtor.com® report showing housing inventory is at a high for 2021. Nearly one-third of the 50 largest metros saw increases in the number of newly listed homes compared to last year.  Read more...  Two million renters can afford to buy thanks to remote working Source: Zillow The rise in remote working during the COVID-19 pandemic has had at least one pos

   Here's the weekly round-up of news. Check it out, save it for later, and/or share it with your friends. Enjoy! What Americans will sacrifice to buy a home Source: Cinch Home Services Most Americans want to own a home at some point in their life, and they say they’re willing to make sacrifices to achieve it. For some, that means forgoing alcohol or vacations for a year to save. But others say they’re willing to give up having kids in order to have their dream home. About 60% of recent survey respondents say they’d prefer their dream home over 40% who said they’d prefer kids first, according to a new survey from Cinch Home Services, a home warranty firm.  Read more... Buyers consider disaster risks in purchasing decisions Source: Realtor.com About three in four recent home buyers say they factored in natural disasters when choosing a location for their new home, according to a new survey of about 3,000 consumers conducted by Realtor.com®. Seventy-five percent of recent home buyers

  Here's the weekly round-up of news. Check it out, save it for later, and/or share it with your friends. Enjoy! Americans cashing out on home equity Source: Inman With interest rates remaining low and home prices on the rise, the amount of cash-out refis has shot up 41% over the last three months, according to Black Knight Mortgage Monitor Report.  The rise in home equity — the value of a homeowner’s interest in their home, after subtracting what they owe on their mortgage — is also good news for borrowers who decided to put their mortgage payments on hold during the pandemic.  Read more...     Remote work will fuel housing demand for years Source: Benzinga A recent Zillow survey found that while remote workers were far more likely to move, approximately 40% of respondents said they did not know if or when they would be required to return to their workplace. However, more than 80% of respondents said they wanted to work remotely at least occasionally while 44% wanted to work from

   Here's the weekly round-up of news. Check it out, save it for later, and/or share it with your friends. Enjoy! Bidding wars fall to lowest level since 2020   Source: Market Watch The frequency of bidding wars on homes has dropped to the lowest level this year — the latest sign that the housing market may be cooling and reverting back to its usual seasonal patterns.  Redfin found that 58.8% of the offers on homes written by the company’s real-estate agents faced competition in August, down from 62.1% the month prior and a peak of 74.3% reached back in April. Redfin defines a bidding war as any situation where there are at least two competing bids on a home.   Budget stresses weigh on consumers   Source: Qualia Nearly a third (30%) of buyers said that, to win in a competitive offer situation, they paid more than they anticipated on their home purchase. Of those who did, 32% paid $52,000 or more over the asking price, according to the Homebuyer Sentiment Index conducted by Qualia,

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