The market share of adjustable-rate mortgages is slowly rising and will likely gain more popularity as fixed-rate mortgages increase over the coming year, says Archana Pradhan, CoreLogic’s senior professional economist, on the company’s Insights blog.The current market share of ARMs has fluctuated between 5 and 13 percent. They rise when fixed-rate mortgages increase and fall when those rates fall. In the first quarter of this year, ARMs ac
Outdoor fire pits and fireplaces are the hottest landscaping trend for fall, according to a survey from the National Association of Landscape Professionals. The association surveyed more than 5,000 of its landscaping professional members.Here’s what topped the NALP’s list of the five hottest outdoor trends for fall:1. High-tech fire pits: Fire pits today can be automated and programmed to turn on and off at certain times or controlled fr
Some singles are opting to use the money they had reserved for their future wedding to buy a home. After all, the money saved for a wedding could amount to a big chunk of change that could make for a sizable down payment on a home.The average cost of a wedding in the U.S. at the start of this year was $25,961, according to a survey by the Wedding Report.Carrie Graham, 35, in Austin, Texas, is among one of those singles who has decided homeownersh
The mortgage-backing government entities announced that they will offer mortgage forbearance for at least 90 days to borrowers in the Houston area affected by Hurricane Harvey. In some cases, this could be extended for up to a year.Storm victims with Fannie Mae, Freddie Mac, and Federal Housing Administration–backed loans will not have to make their monthly payments. They will face no penalty fees. Interest on their loans, however, would still
Contract signing mostly stalled last month as housing shortages across the country continued to hamper home sales, the National Association of REALTORS® reported Thursday. The West was the only major region of the U.S. to see an uptick in pending July home sales.Overall, NAR’s Pending Home Sales Index—a forward-looking indicator based on contract signings—dropped 0.8 percent to a reading of 109.1 in July. The index is now 1.3 percent lower
Denver, Dallas and Nashville are leading the wayKey Takeaways A little more than 48 percent of homes nationwide have exceeded their pre-recession value. In Denver, Dallas, Nashville, Portland, Raleigh, Louisville and San Jose, more than 90 percent of homes are now worth more than they were in 2007.According to Zillow’s July Market Report, nearly 50 percent of homes nationwide have regained or exceeded their 2007 pre-recession value.In seven of
Focus on the sellers’ underlying concernsKey Takeaways If you aren’t able to identify a seller’s underlying concerns from the objections they offer, ask open-ended questions to draw them out.Despite what you may have heard, handling objections effectively isn’t about mastering scripts. To overcome objections consistently, agents must be able to think on their feet and apply appropriate strategies.Instead of trying to memorize specific r
Instead of trying to sell something, solve something for your prospects, and you’ll immediately see a spike in businessHow do successful real estate agents keep taking their growth to the next level without working themselves to borderline insanity or heavily increasing their marketing spend?Well, it all comes down to five success principles. These five principles will lead you to where you want to be, no matter where you are.1. Solve probl
Keep communication open and honest for easier deals and a more pleasant experience for everyoneWalking into a meeting with a client who has different expectations and conflicting opinions is a nightmare for any real estate agent. How can we identify those situations quickly? What part does empathy play in securing that sale?Apply business skills personally Knowing the basics of communication theory is a key skill, not just for real estate, bu
When real estate agents are posed with the question of whether clients should buy or rent, what's the right answer?With millennials’ preference toward a mobile lifestyle, the question of “buy versus rent” is prevalent among a demographic that constitutes a large segment of our first-time homebuyers.Furthermore, baby boomers are confronted with the same question for varied reasons that include a newfound desire to be mobile and investing
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