The Federal Reserve voted to leave its short-term rates unchanged on Wednesday but it did indicate that a rise to its short-term interest rates is likely on track for later this year."The basic message here is U.S. economic performance has been good," Fed Chairwoman Janet Yellen said at a press conference following the Fed’s two-day policy meeting. "The American people should feel the steps we have taken to normalize monetary policy ... are w
A slower fall season in home buying may help more lingering home buyers to jump in.Prices are easing somewhat. For the second month in a row, the median price of an existing home dropped. It reached $253,500 in August, after reaching a record high of $263,300 in June, according to the latest data from the National Association of REALTORS®.“Median sales prices typically decline a bit heading into the fall,” says Danielle Hale, realtor.com®
Whether you're considering the heart of the city or nearby suburbs, many enjoy or depend on bikes for recreation and commuting. New technology can widen the horizon as you scope out new homes.While a number of companies make e-bikes, with electric motors that typically have a range of 30 miles or so, Delfast plans to introduce a new model with a range of well over 200 miles, potentially offering a week's worth of commutes on one charge. Curbed de
Mortgage applications dropped last week, slammed by back-to-back major hurricanes and higher interest rates. Total mortgage application volume, which includes for home purchases and refinances, dropped 9.7 percent week-over-week on a seasonally adjusted basis, the Mortgage Bankers Association reported Wednesday. Further, weekly applications were 21.5 percent lower than the same week a year ago.Broken out, applications to buy a home dropped 11 per
During September’s REALTOR® Safety Month, be sure to take precautions to protect yourself from physical harm—and to protect both yourself and your clients in today’s digital world, says Marc Gould, vice president of business specialties for the National Association of REALTORS® and executive director of REBAC.Gould warns in a recent column at RISMedia about the threats cybercrime is posing to real estate transactions. An email-based sche
More single-family homes are in the pipeline, but the industry is skeptical about whether the increase will satisfy buyer demand. Single-family production increased 1.6 percent in August to a seasonally annual rate of 851,000, the Commerce Department reported Tuesday. Single-family production is now nearly 9 percent higher than a year ago. The uptick is welcome news to housing markets that are increasingly facing severe housing shortages, but the
You don’t want to hurt your clients’ feelings. But undoubtedly there are a few things that pop up in the course of transactions that you wish sellers already knew, so that you could avoid having some awkward conversations with them. Real estate pros chime in at realtor.com® with some of the top things they wish sellers knew about selling a home, including:Your home decor isn’t always perfect for selling.“While your home may be beautifull
For the fourth time in five months, existing-home sales dropped as a shortage of homes for sale continues to plague the housing market. Strained supply levels of homes are making it that sales are unable “to break out,” according to the National Association of REALTORS®’ latest housing report, released Wednesday.Existing-home sales did see an increase in the Northeast and Midwest in August but were outpaced by sales declines in the South a
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Some well-intentioned homeowners may actually be doing more harm than good when they're completing normal household chores. Realtor.com® recently featured a list of cleaning myths that could actually reduce the value of a home. Here are a few cleaning habits to warn your clients against:Too much bleach.Homeowners may be under the assumption that bleach is the best cleaner in the bathroom. “Bleach does not clean anything,” Leslie Reichert, cl
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