Real estate professionals have some good news to share with their clients. On Jan. 1, buyers will be able to get much larger mortgages, whether they’re applying for conventional or FHA-backed loans.Each year, Fannie Mae and Freddie Mac adjust their limits for conventional, conforming loans based on changes in median home prices. For 2018, the companies are increasing loan limits nearly 7 percent, to a maximum loan amount of $453,100. That’s u
A shortage of building materials is becoming a pressing problem for many of the nation’s homebuilders. Twenty-one percent of single-family builders reported a shortage of framing lumber, according to the 2017 National Association of Home Builders/Wells Fargo Housing Market Index. Builders also reported a shortage in ready-mix concrete and trusses.The NAHB notes that the last time there was a shortage of framing lumber was in October 2004, when
Buyers looking for a home that’s perfect for entertaining will want certain property details. HomeDesignFind.com recently profiled some characteristics of the perfect home for entertaining, including:An entry hall or foyer. Make sure it’s sizable enough to allow guests to enter comfortably and to remove their coats and shoes. In addition, a covered front porch that protects visitors from the rain may be a perk.A coat closet in the entryway.
With tax reform signed into law, homeowners in areas with high property taxes are scrambling to prepay their 2018 tax bill in order to take advantage of deductions that will be severely curtailed once the legislation takes effect Jan. 1. The new tax law, which Congress passed and President Donald Trump signed last week, caps the amount of state, local, and property taxes that homeowners can deduct at $10,000.Some counties already allow for prepa
Black is making a comeback in home design, with black fixtures, appliances, and furniture emerging as hot trends for the new year. Ryan Brown of Brown Design Group in Southern California predicts that black fixtures will replace brass as the most trendy home hardware in 2018. “They look great in modern applications, as well as transitional homes,” he told realtor.com®. “And the best part is no water spots to clean off.”Matted black furni
Cold weather can put your home’s pipes at risk of exploding. Worst case scenario: Pipes can fill up with so much ice that eventually they burst and then flood a home.But there’s plenty you can do to keep your pipes safe in the winter, as a homeowner or landlord. Precautions should be ideally taken in the fall, but if you forgot, better to take steps now than none at all.HouseLogic offers the following tips for protecting your pipes from burst
Rents have been skyrocketing the past few years, and the winter holiday season can take an even bigger bite out of consumers’ paychecks. But some renters are finding they still have plenty of money left in the bank at the end of the holiday season.For example, renters in Virginia Beach, Va., and Wichita, Kan., are considered among the lucky few who still who have money left in the bank after paying the rent, buying gifts, and covering other con
Real estate professionals say that hardwood floors can pay off when it comes to selling a home. They’re a “bling feature,” particularly in living rooms and dining rooms, and in a master suite they “could help win a buyer’s offer,” Janice Caputo, a real estate pro with Coldwell Banker Real Estate Services in Pittsburgh, told realtor.com®.“Most buyers nowadays are expecting hardwood," Matt Laricy, a real estate pro with Americorp
Pending home sales eked out a small increase in November on both a monthly and annualized basis. The increase was enough to make it the highest gain in contract signings since June as well, the National Association of REALTORS® reported Wednesday.But will it last? Existing-home sales and price growth are expected to slow heading in 2018 due to the impact from altered tax benefits of homeownership affecting some high-cost areas, according to NAR.
Customers today are more educated than ever, and they expect stellar customer service, especially when dealing with an expensive, emotional, and even stressful transition like buying and selling real estate.“They know what good customer service is and they aren’t just comparing you to your direct competition,” says customer service expert and business coach Shep Hyken. “Anyone that has delivered a stellar customer service experience—in
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