Partner with a REALTOR® Expertise and Ethics at Work For You

Today’s market looks very different from the one in 2008, Yun says. A preapproval letter signals to sellers that you’re a serious buyer, and it could help strengthen your offer. By comparison, financial experts often recommend households keep that share under 28% of gross monthly income to avoid becoming cost-burdened. That means the typical family spends 25.7% of their income on housing.

• View all five seasons of our video series highlighting real stories of first-time buyers as they navigate today’s housing market.
• “Whites continue to be popular, but certainly we are transitioning to warmer tones, like beiges and khakis,” says Emily Kantz, color marketing manager at Sherwin-Williams.
• Many younger buyers assume that student loans automatically disqualify them from a mortgage, but that’s not true.
• Now, as the creator of the “Contractors from Hell” website, Costello fields messages from desperate homeowners who’ve had similar experiences.

REALTORS® Abide

Listing realtors don’t sell apparently – buyers agents do (what a crock). What makes this most interesting is that in the past, real estate professionals have been reminded time and again that the Association is member centric, and finally that is no longer the case. HouseLogic seeks to be a Resource not found elsewhere on the web, helping consumers improve and maintain the value of their home, providing resources and cost savings in the process- the “Mint.com for homeowners”, says Jim Duncan. And because they don’t earn a paycheck from your loan selection, their advice about mortgages should be impartial. Let’s start with the most common type of mortgage, that workhorse of home loans — the fixed-rate mortgage.

Real Estate Resources

Lynn Ettinger has written about real estate and business for more than two decades. Following a seasonal home maintenance checklist will prioritize your time and money, familiarize you with your home’s systems, and protect your investment. First-time home buyers in particular are seeking co-buying solutions to overcome home affordability hurdles. The iconic REALTOR® logo means that you’ve found a REALTOR® – a real estate professional who is a member of the National Association of REALTORS®. LookForTheR.realtor (formerly content by HouseLogic) is a free source of information and tools from the NAR that you can use to help your clients make houselogic.com smart and timely decisions about their homes. All historical reports and data can be found in the REALTOR® Store.

• So says Arthur Teel, owner of Asheville Art Installers in Asheville, N.C. Circuit boards break, and energy efficiency numbers don’t always add up, he says.
• She gathered bids from four remodeling contractors, chose the middle-priced bid from a company that radio ads called the “No.
• Indeed, a closet renovation could offer an 83% return on the upfront cost at resale and is one of the top remodeling projects the NAR report identified.
• For example, certification by the National Association of the Remodeling Industry recognizes highly experienced remodeling professionals who are capable of planning and managing complex remodeling projects.

Ultimately, you’ll be working with your loan officer or broker to narrow these choices and find a loan that works for you and your finances. Only a select number of lenders offer USDA loans; here’s a list of USDA-approved lenders nationwide. Given the benefits, a VA loan is often the best mortgage option for people who qualify. A broad swath of people, including those with lower credit scores and income, use FHA loans. That depends on which government loan you’re looking at. If you’re not a first-time home buyer or you earn 80% or less than the median income in your area, the down payment requirement is 5%.

Whether you’re reading headlines or listening to opinions or news, checking the facts and the numbers behind them will separate facts from real estate myths and lead to more-sound real estate decisions. In addition to VA and USDA loans, many state-specific home-buying grants and first-time home buyer down payment programs are available, he says. Housing myths may leave you confused about what’s really happening in the real estate market.