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.  Buyers view record low number of homes before purchasing Source: National Assn. of REALTORS® Last year, home buyers viewed a median of eight homes before purchasing — the lowest number on record, according to research from the National Association of REALTORS®. That’s fewer than in 2009 and 2011, when housing inventory was more plentiful and buyers viewed a median of 12 homes before buying. Among the median eight homes viewed by buyers, three were viewed online only with the help of virtual and video tours as well as virtual open houses, according to NAR data.  READ MORE... Upgraded building codes help reduce wildfire risk Source: Market Watch Upgrading California’s building codes reduced the average risk of structural loss in a wildfire by roughly 40% for homes built in 2008 or later, as compared with a home built in 1990, researchers from University of California, San Diego

   Here's the weekly round-up of news. Check it out, save it for later, and/or share it with your friends. Enjoy! HUD gives owner-occupied buyers early chance Source: Federal Housing Administration In an effort to make more HUD-owned properties available to owner-occupants and non-profit organizations, the Federal Housing Administration doubled its exclusive listing period on certain HUD single-family and real estate-owned homes that will give owner-occupant buyers more time to bid on the properties ahead of investor competition. The extended exclusive listing period for bids will begin on March 1. Individuals, families, HUD-approved nonprofit organizations, and government entities will then have 30 days to review new listings of single-family homes on HUD’s REO sale site, HUD HomeStore. That is up from a 15-day exclusive period that is currently in place.  READ MORE...   2021 CA housing market posts best performance in more than a decade Source: CALIFORNIA ASSN. OF REALTORS® Calif

   Here's the weekly round-up of news. Check it out, save it for later, and/or share it with your friends. Enjoy! New single-family homes are getting bigger Source: National Assn. of Homebuilders The pandemic has prompted more Americans to want to supersize their homes. The median single-family square floor area as increased to 2,337 square feet as of the third quarter, while the average (mean) square footage of new single-family homes rose to 2,541, according to the latest Census Bureau data, as reported by the National Association of Home Builders.  READ MORE...  Single women outpace male counterparts in homebuying Source: OC Register Over the past 40 years, single females have made up the second-largest demographic among U.S. homebuyers since 1981, steadily overshadowing single males, according to the National Assn. of REALTORS®. Married couples make up the largest share of homebuyers. In the year ending in June, divorced, widowed and never-married women accounted for 19% of all

   Here's the weekly round-up of news. Check it out, save it for later, and/or share it with your friends. Enjoy! What to know if you’re thinking about buying a home soon Source: Market Watch With mortgage rates near historic lows and housing prices on the rise, potential homebuyers may be wondering whether they should buy now. Experts say to stop trying to time the market looking for the perfect time to buy and instead, focus on your personal circumstances. For instance, if you plan to be in the home for 5 years or more, buying instead of renting likely makes the most sense. But understand what you can truly afford, and don’t get caught up in the real estate frenzy.  READ MORE...  How the pandemic changed the housing market  Source: Marketplace As with many other industries, the pandemic accelerated technological change in real estate. Going forward home buying will be different from what we were once used to. For instance, home searching will be much more high-tech, such as using

   Here's the weekly round-up of news. Check it out, save it for later, and/or share it with your friends. Enjoy!  Baby boomers playing a larger role in housing market Source: Zillow Baby boomers are taking part in the housing market at a much higher rate than they had in 2009. Buyers over the age of 60 jumped 47% from 2009 to 2019. In the same time frame, those between the ages of 18 to 39 dropped 13%, according to Zillow. With an aging population helped by an improving economy, individuals of every age group over 30 were buyers at higher rates in 2019 than those same age groups in 2009. Zillow said the 2008 recession played a role in the lower number of Baby Boomers participating in the market during 2009 as well as a decrease in construction.  Read more...  Mortgage delinquencies fall to lowest level since pandemic Source: CoreLogic With homeowners keeping up with their mortgage payments or arranging for loan modifications with their service providers, the overall delinquency ra

   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