So far this year, Google searches related to buying a first home have surged to 44 percent of all homebuying-related search activity—up 11 percentage points compared to a year earlier, according to a new study by Chase Home Lending. This may mean you’ll want to increase content on your website geared toward first-time buyers.“I had assumed that we would start to see millennials come [into the market] in force in the next two years,” says
Many mortgage lenders are phasing out physical paperwork in favor of electronic documents. While that may make organization easier for consumers, they still find an element of peace of mind in physical documents, according to a new survey.Digital Risk, a mortgage outsourcing solutions firm, surveyed about 1,000 homeowners and 509 renters and found that while borrowers say they seek a more streamlined process to buy or refinance a home, they are l
Furniture, appliances, and remodeling projects are among the biggest expenses for new homeowners, who spend an average of $10,600 in the first year of homeownership, according to a recent analysis by the National Association of Home Builders. New owners spend an average of $3,778 on furnishings alone, according to NAHB’s analysis. Here are a few common expenditures recent home buyers made: Living room chairs and tables: $687 Dining room and kit
1. Window shoppers: Some clients will take you on a wild hunt for the perfect home, but they aren’t committed to purchasing and say they hope to buy “someday.” “Some home buyers want to see every single house that’s on the market,” even if the home doesn’t match their criteria, says Rae Wayne, a sales associate with the Bizzy Blondes team in Los Angeles. You may want to encourage these types of buyers to attend open houses so they
akurtz/Getty ImagesBuying a home—especially if it’s your first—can be a lot like losing weight in the sense that people end up doing, well, some pretty dumb stuff in the process. But while desperate dieters might waste money on “magical” weight-loss pills or silly exercise equipment (remember the shake weight?), misguided home buyers could be doing far more serious damage—like undermining their ability to purchase a house at all
EpicStockMedia/iStockBalancing trendy touches with classic appeal can be tricky in your home and even trickier in your outdoor spaces. After all, you can always repaint a wall, but no one wants to tear up their entire hedge every year.Luckily for you, we consulted with experts on the top landscaping trends that homeowners are loving right now—and that won't go out of style any time soon. So take a good look at your landscaping and decide whet
Dena Everman in Marietta, Ga., was about to close on the sale of her home of 11 years when she discovered that a family—not the buyers—had already moved in. Everman, who had moved out of the home weeks prior, encountered the occupants when she stopped by the property the day before closing to check on it one last time. The closing that was set to happen the next day on June 26 with the rightful buyers continues to be put off as Everman strug
Besides discussing the home’s layout and physical characteristics, come to your open house prepared to respond to these other common questions. Coldwell Banker recently featured some of the most common questions potential buyers may ask a real estate professional at an open house. Here’s what you need to be ready to answer:1. How many bids have you received on the home?Buyers may want to gauge the true price of the home and see how much co
The availability of building materials, particularly framing lumber, is rising on the list of concerns among home builders, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index. Twenty-one percent of single-family builders reported a shortage of framing lumber.“It is certainly concerning that we have seen such a large jump in reported framing lumber shortages in a relatively short period of time,” say
Homeowners are bracing for the July heat as they prepare for some of their steepest utility bills.Energy costs in the U.S. consume from 5 to 22 percent of families’ total after-tax income, according to a new analysis by WalletHub, a financial resource.“And lower energy prices don’t necessarily equate to savings,” WalletHub notes in its study. “Where we live and how much energy we use are a big part of the equation.”For example, elec
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