What ‘Great Bones’ Really Means

“This house has great bones.” As a real estate professional, you’ve heard the phrase countless times. You’ve probably even uttered it more than once. But what do we really mean when we say a house has great bones? It’s a feature that all buyers want, but few can define. Understanding how … [Read more...]

The Impact Immigrants Have on Real Estate

The impact immigrants have on U.S. real estate is growing, as 13 percent of the nation’s population—about 42 million people—hails from foreign countries, according to the National Conference of State Legislatures. “Immigrants are a big driving force for housing markets across the nation,” … [Read more...]

Flooded Homes Can Be Fixed But…

As Hurricane Harvey moves off the coastline of Texas, it's leaving massive flooding in its wake that has destroyed homes and businesses. More Harvey Coverage REALTORS® Promise to Send Help to Texas Tips for Filing an Insurance Claim Harvey Sparks Flood Insurance Disaster Until the floodwaters … [Read more...]

3 Remodeling Mistakes That Hurt Resale Values

“Projects that take a home significantly beyond community norms are often not worth the cost when the owner sells the home,” says Scott Robinson, president of the Appraisal Institute. “If the improvements don’t match what’s standard in a community, they’ll be considered excessive.” … [Read more...]

Living Rooms Are Heading Upstairs

Upper-level living rooms are becoming a sought-after space among homeowners, The Wall Street Journal reports. Homeowners are finding these second-floor lounges can be cozier spaces than living areas on the first floor—and can offer more privacy, too. Upper-level living rooms—sometimes labeled … [Read more...]

HARP Extended Through 2018

The Federal Housing Finance Agency announced that it is extending HARP, a popular government refinancing program, through Dec. 31, 2018. The Home Affordable Refinance Program was to expire on Sept. 30. While the FHFA has once again extended the deadline by another 15 months, this time it plans … [Read more...]

New Program to Help Buyers Bypass Appraisals

Mortgage giant Freddie Mac has announced a new program allowing some home buyers to skip a traditional appraisal, which could lower the fees the buyers pay and speed up the closing process. Freddie’s Automated Collateral Evaluation (or ACE) will determine a property’s collateral risk by culling … [Read more...]

More Buyers Putting Down Less on a Home

A 20 percent down payment is no longer the norm. In the past year, 1.5 million borrowers purchased their homes with down payments of less than 10 percent, according to Black Knight Financial Services. That marks a seven-year high. A growing number of home shoppers are financing more than 90 percent … [Read more...]

Buyers Want Bigger Yards Over Bigger Homes

A property that offers a great outdoor space is taking a higher priority among home buyers. In fact, home shoppers recently surveyed said they would be willing to sacrifice some space from a larger house in order to get a bigger yard. More than half of 1,000 buyers recently surveyed—or 56 … [Read more...]

Are Open Floor Plans Losing Appeal?

Open floor plans, which typically combine the kitchen, living room, and dining room in one large, open area, have dominated home design trends in recent years. But now, buyers may be starting to shun this type of layout, The Wall Street Journal reports. Read more: These Doors Can Modernize Your … [Read more...]