U.S. home purchases by international buyers are at their lowest on record, new NAR data shows. But there’s reason to believe in a comeback. Worsening housing affordability and stubborn inventory shortages are not only pushing more Americans out of the real estate market but also blocking many foreign investors from purchasing homes in the U.S., according to the National Association of REALTORS®’ newly released 2022 Profile of Internatio
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Borrowing costs tick up again as the Federal Reserve’s inflation policy has economists bracing for even higher rates in the future. Mortgage rates are showing volatility as the economy slows and recession fears take center stage. The 30-year fixed-rate mortgage rose to an average of 5.51% this week, up from 5.3% last week, according to Freddie Mac.Home buyers are facing rising costs across the spectrum. Inflation shot to a new 40-year high in J
For the week ending July 8, mortgage applications to purchase a home fell 4% compared to the previous week The average size of a home purchase loan has pulled back from its record high as demand for mortgage applications fell for the second straight week. According to the Mortgage Bankers Association, the average purchase loan size fell to $415,000 for the week ending July 8, down from $460,000 hit in March. Total mo
The real estate market is starting to show signs of cracking in some of the most expensive cities in the country, and other pricey areas should brace for a rough stretch ahead.In the early part of the year, the prevailing real estate narrative suggested that housing prices would stay buoyant because of a historic shortage of available inventory even as mortgage rates surged. But for all the signs that the market was facing headwinds, few people w
Racist housing rules no longer enforceable, but a reminder of past discrimination Under a new state law, counties must now work to purge their property records of decades-old racist language that once banned people of color from buying homes in neighborhoods across California.Starting July 1, the law also requires real estate agents and services to notify homebuyers if any such bans — called racially restrictive covenants — are known to be ti
What's in a gnome? Apparently, a lot when it comes to sprucing up the outdoors this summer. Love them or hate them, gnomes are the biggest garden trend of 2022, according to a new study(link is external) from Atlas Ceramics, the creators of the Garden Trends Index. The company analyzed annual Google searches, Instagram posts, and TikTok data to identify the hottest garden trends of the summer.Garden gnomes moved up from fifth place in l
State Sen. Anthony Portantino's request for the money out of the new state budget for a regional housing trust was approved. The future of an affordable housing trust fund among the cities of Pasadena, Glendale and Burbank took a step forward this week, as officials announced the approval of a $23 million infusion to get the fund off the ground.Under state Sen. Anthony J. Portantino’s proposed SB 1177, the money — carved out from the state’
iPro was founded on the idea of building a better living with champion real estate services. We focus on incorporating and mastering the latest technologies and perform all types of real estate transactions. Our team of professionals set a stronger standard of business and give superior results.Click here for information on becoming a salesperson.
Some people call it buying the worst house in the best neighborhood, but most nice neighborhoods work just fine – especially when houses to choose from are scarce. But either way, this equity-building strategy isn’t for the faint of heart.Back Door Entry to a Ritzy Area The theory is that lower-priced homes in upscale neighborhoods will appreciate at a higher percentage than all the other houses in the neighborhood. It’s a chance to build a
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