US homeowners are nearly twice as willing to sell if their mortgage rate is 5% or higher, but just one in five mortgaged homes meet that criteria. For those who have a mortgage rate of at least 5%, 38% said they’re planning on selling their homes, according to a quarterly survey by Zillow. Just 21% of holders with rates below...
Most people feel they pay too much in property taxes. But there are ways you can lower them. Let’s look at the 5 steps you can take to lower your next property tax bill. Request your property tax card The local assessor’s office has on file all of the necessary information about your property. And you can request a copy of your tax card with this information from them. On the property tax card,...
"A rolling loan, they say, gathers no loss." Commercial mortgages function differently than residential loans. Investors borrow for shorter periods and structure loans with large balloon payments at the end. They're designed to be refinanced. It's not that market participants have forgotten the lessons of the global financial crisis that followed the 2000s boom, it's...
A Friendly Reminder of the Importance of the Florida Hometown Heroes Housing Program and changes effective July 1, 2023 The Florida Hometown Heroes Housing Program makes homeownership affordable for eligible community workforce. This program provides down payment and closing cost assistance to first-time, income-qualified homebuyers so they can purchase a primary residence in the community in which they...
Commercial Real Estate (CRE). Keeping a list of the various struggles in CRE today. As they say, location location location. San Francisco has a problem right now but there are other locations as well. This week, Westfield and Brookfield Properties announced they had stopped making payments on a $558mn loan secured against San Francisco's sprawling downtown...
Are you planning to sell your house? If so, you may be surprised to hear just how much buyers value energy efficiency and eco-friendly features today. This is especially true as summer officially kicks off. In fact, the 2023 Realtors and Sustainability Report from the National Association of Realtors (NAR) shows 48% of agents or brokers have noticed consumers are interested in...
A home is a big investment, so it’s important to understand all the expenses that come after buying a home. One expense homeowners forget about is property taxes. Property taxes can be a significant annual expense that can affect you for years after your purchase. So it’s important to know what your property taxes will be and how it works. How are property taxes calculated? Property taxes are...
A sharp downturn in commercial real estate performance could have a big impact on the banking sector, but not big enough to destabilize the financial system, according to analysis from one of the top real estate economists in the country. More than 300 banks have enough commercial real estate loans on their...
Is a Housing Bottom Already In? The severe contraction in the US housing market over the past year looks like it may be coming to an end, and the bottoming-out is raising hopes that the country could avoid a recession altogether. That’s because historically, housing has been a critical driver of the broader business cycle. Low interest rates can boost demand...
One-quarter of homes for sale in Austin, Texas, (25.8 percent) have lower estimated monthly housing payments than they would have if they had been for sale a year ago, according to a new report from Redfin. That’s a higher share than any other major U.S. metro area and more than triple the nationwide share of 7.1 percent. Seattle is close behind, at 23.6 percent, followed by San...