By Kerry Smith NAHB’s monthly survey of builders’ attitudes recorded higher pessimism every month in 2022. The Dec. reading was down 2 points to 31, the lowest reading since 2012. WASHINGTON – Builder confidence in the market for newly built single-family homes posted its 12th straight monthly decline in December, dropping two points to 31, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). It’s the lowest confidence reading since mid-2012, with the exception of the onset of the pandemic in the spring of 2020. The index goes as high as 100 with 50 representing
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Stocks mainly pay when they appreciate and bonds via coupons, but real estate offers five profit centers, such as income, tax savings and principal paydown. NEW YORK – If you invest in stocks or bonds, you may be more accustomed to one way of getting paid. For stocks, typically you’ll only get paid from stock price appreciation. For bonds, you’ll typically only get paid from the coupon payments (similar to net rental income of rental properties). Since 2000, government bond yields have averaged 2-4%, while corporate bonds have averaged 4-6%. Bonds can also appreciate and depreciate in price if the
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By Gary M. Singer Check your documents, but generally, the association is responsible for what is inside the walls, the exterior of the building, and the common areas. The unit owner is responsible for the inner wall and what is inside their apartment. Q: We had a water leak below the slab at our condo. We filed a claim with our insurance company which is paying for the repair. Our condo association won’t pay my deductible. Many residents have told me that since the leak was outside the condo, the association is responsible for the entire cost. What do I
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Other up-and-coming home trends: outdoor rooms, edible gardens, and … mirrored walls. Plus, the “renovation generation” is here, and they’re not scared of a hammer. SEATTLE — Move over, chef’s kitchens. Functional outdoor space is the new must-have for 2023 home buyers. Zillow® data find backyards are now being mentioned 22% more often in for-sale listings compared to last year, suggesting this once-overlooked area will be one of the most sought-after spaces in the coming year. 11 Home Features That Help You Sell Fast Thinking of upgrading your home before you sell? Here are the features buyers want most. Download the
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By Walt Danley Follow these strategies to help you set realistic goals and expectations based on a thorough assessment of your previous year.  Resolutions to Help You Rock the First Quarter Start the year off right and set yourself up for success by implementing these 10 tactics. Download the infographic ► Agents who persevere in the coming year will be those who have taken steps to prepare amid the uncertainty. The first step is to set realistic, clearly defined goals based on an in-depth assessment of the previous year. Questions to ask include: What beneficial skills did I develop? Where
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By Kenny Parcell The pandemic opened a new world of online educational and training opportunities for Realtors that can help them keep up with the changing market. Be You, Only Better — Raise Your Personal Bar With the C2EX Program Looking for a way to stand out as a trusted real estate professional? Sign up for NAR’s Commitment to Excellence program. Learn more ► Real estate agents have a wealth of resources available to navigate the post-pandemic market, including online courses to keep abreast of the latest technology tools and market research. Acquiring a new designation or certification offers another
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By Matt Ott Freddie Mac: The average 30-year fixed rate mortgage slipped to 6.31% from 6.33% previously, declining for the fifth straight week. It was 3.12% a year ago. WASHINGTON (AP) – The average long-term U.S. mortgage rate declined for the fifth straight week, even as the Federal Reserve just raised its key borrowing rate for the seventh time this year and signaled there were more to come in 2023. Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate inched down to 6.31% from 6.33% last week. A year ago the average rate was 3.12%. The average long-term rate reached 7.08% as recently as
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By Paul Wiseman and Stan Choe Inflation may be slowly easing, but Wall Street is spooked by Fed policymakers’ signal it will raise their key rate to a 5%-5.25% range in 2023 – and keep it there. WASHINGTON (AP) – After scaling 40-year highs, inflation in the United States has been slowly easing since summer. Yet the Federal Reserve seems decidedly unimpressed – and unconvinced that its fight against accelerating prices is anywhere near over. On Thursday, stock markets buckled on the growing realization that the Fed may be willing to let the economy slide into recession if it decides that’s what’s needed to
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By Dan Weil With affordability a current driver for both housing demand and supply, some analysts expect Midwest housing markets to draw buyers’ attention in 2023. CONYERS, Ga. – Single-family home and condo prices peaked in May. Buyers are looking for bargains after the boom. You’re undoubtedly well aware that housing prices have fallen in recent months, but did you know that condo prices are dropping less than single-family home prices? The median single-family home price crested at a record high of $452,518 in May and then slid 8.5% to $414,000 in October, according to a study from Point2 looking at the biggest 100 U.S. cities. The firm is
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By Tom Butler Lawmakers finalized three bills that, among other things, eliminate one-way attorney fees, nix assignment-of-benefit options and further depopulate Citizens Ins. TALLAHASSEE, Fla. – The Florida Legislature wrapped up their special session on Wednesday after passing three bills. “If you had to sum up the major outcomes of the insurance reform bill in a single sentence, it would indicate that the bill will curb the massive amounts of lawsuits that are driving up premiums, stabilize reinsurance coverage and shrink the state-backed Citizens Property Insurance Corp.,” Florida Realtors® Vice President of Public Policy Andy Gonzalez said after the session ended.
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