Wednesday, February 10, 2021 / by Grace Katz
February 4th, 2021
Data Solutions curator of the nation’s premier property database, today released its fourth-quarter 2020 U.S. Home Equity & Underwater Report, which shows that 17.8 million residential properties in the United States were considered equity-rich, meaning that the combined estimated amount of loans secured by those properties was 50 percent or less of their estimated market value.
The count of equity-rich properties in the fourth quarter of 2020 represented 30.2 percent, or about one in three, of the 59 million mortgaged homes in the United States. That was up from 28.3 percent in the third quarter of 2020, 27.5 percent in the second quarter and 26.7 percent in the fourth quarter of 2019, despite the ongoing economic damage caused by the worldwide Coronavirus pandemic.
The report also shows that 3.2 million, or one in 18, mortgaged homes in the fourth quarter of 2020 were considered seriously underwater, with a combined estimated balance of loans secu ...
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Tuesday, February 9, 2021 / by Grace Katz
February 2, 2021 by Jennifer Eichelt
There are a lot of people who are spending more time at home these days. As the temperature starts to warm up once again, there are some homeowners who are looking for ways to upgrade the outside of their home. Even though there are some people who are looking at installing a brand new patio or deck, this can be extremely expensive. Fortunately, there are ways that homeowners can completely transform the exterior of their home without breaking the bank. Take a look at a few of the top ideas below.
Consider Adding An Outdoor Rug
First, homeowners should consider adding an outdoor runner or rug to the exterior of their home. Because this run is going to be outside, try to go with bright colors. Furthermore, there are also specific runners and rugs that have been designed specifically to stand up to the wear and tear of the outdoors. Consider adding a rug that leads from the patio door to the deck. Or, think about placing an a ...
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Tuesday, February 9, 2021 / by Grace Katz
January 26, 2021 by Jennifer Eichelt
As we move into 2021, there are a lot of people who are thinking about getting a mortgage. Even though it is a great time to look for a home loan right now, it is also important for everyone to make sure they place themselves in the best position possible to be successful. It is important to take the following steps for those who are interested in applying for a new home loan this year.
Calculate Your Budget Carefully
First, it is important to take a look at the budget carefully and find a mortgage that is affordable. Remember that the mortgage payment isn’t the only expense that comes with owning a home. It is also critical to think about real estate taxes and homeowners’ insurance, which is often included in the monthly payment that goes back to the lender. Then, do not overlook the importance of utilities. Some of the most common utilities include electricity, water, gas, cable, and internet. Before loo ...
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Monday, February 1, 2021 / by Grace Katz
One of the most frequently pondered topics in real estate is that of agent commissions. Who pays realtor fees? Why are these fees charged? Are they negotiable? Admittedly, the details of agent fees can be a bit murky. Let’s take a moment to clear things up!
How real estate agents get paid, and who really pays them
The agents who represent the seller and buyer split a commission fee (typically 5-6% of the purchase price of the home at the close of escrow. The concept of who pays the commission can be a tricky one to explain, which is why it’s no surprise some agents attempt to simplify things by telling the buyer that the seller covers the fees. That, however, isn’t entirely true.
While the payment is technically disbursed by the seller, the funds come from the money the buyer pays to the seller. It’s actually not uncommon for sellers to account for paying these commissions by factoring them into the initial listing price. Buyers essentially foot the bill for ...
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Monday, February 1, 2021 / by Grace Katz
Not all home improvement projects are created equally. For example, a finished basement in Portland is 5x more valuable than finishing a basement in Atlanta, a roughly 13% increase on the median home value versus 2.5% respectively.
The impact of a project or upgrade varies based on the market you’re in, and you’re existing home value. Some projects like adding a pool or wood floors tend to have bigger increases for more expensive homes, while projects like a kitchen remodel or adding a full bathroom tend to have a bigger increase for less expensive homes.
Let's take a look at the most relevant home improvement projects that can help increase the value of your home. Some of these tips may not increase your home’s appraised value directly, but can still be beneficial, as they can make your home more appealing to potential buyers.
Maintenance and Mechanicals
Maintenance consists of routine tasks that keep your home in good condition. Mechanicals are the component ...
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