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What’s Up With Housing?

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Wall Street is witnessing the best bull market in homebuilder stocks in years.
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71% of prospective homeowners – largely millennials – believe it’s a good time to buy a home, and 63% remain steadfast in their ideal preferences for a home.
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There’s an interesting program being introduced by Lennar Home Builders and Eagle Home Mortgage.
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Amazon.com will now ship a 320-square-foot shipping container home, complete with appliances, bath fixtures and hookups — just add it to your cart.
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Willing to endure things that go bump in the night for a better real estate deal.
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More Than Half Of All Buyers Are Surprised By Closing Costs

Closing Costs

According to a survey conducted by ClosingCorp, over half of all homebuyers are surprised by the closing costs required to obtain their mortgage.

After surveying 1,000 first-time and repeat homebuyers, the results revealed that 17% of homebuyers were surprised that closing costs were required at all, while another 35% were stunned by how much higher the fees were than expected.

“Homebuyers reported being most surprised by mortgage insurance, followed by bank fees and points, taxes, title insurance and appraisal fees.”

Bankrate.com gathered closing cost data from lenders in every state and Washington, D.C. in order to share the average costs in each state. The map below was created using the closing costs on a $200,000 mortgage with a 20% down payment.

More Than Half of All Buyers Are Surprised by Closing Costs | Keeping Current Matters

Keep in mind that if you are in the market for a home above this price range, your costs could be significantly greater. According to Freddie Mac,

“Closing costs are typically between 2 and 5% of your purchase price.”

Bottom Line

Speak with your lender and agent early and often to determine how much you’ll be responsible for at closing. Finding out that you’ll need to come up with thousands of dollars right before closing is not a surprise anyone is ever looking forward to.

via Keeping Current Matters


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What’s Up With Housing?

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Not only is homeownership something to be proud of, but it also offers you and your family the ability to build equity you can borrow against in the future.
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A disaster declaration in the just-expanded 37 Florida counties will aid local gov’ts and allow HUD to help with federal housing needs, such as foreclosure relief.
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Do you know what your house is worth? Have you stayed put because you are nervous you won’t have enough equity to buy your dream home?
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This report gives the results of a survey of REALTORS® on the effectiveness of home staging.


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What’s Up With Housing?

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Survey: A top reason 1 out of 3 millennials buy a first home is to provide a yard for their dog. As a motivator, it outranked marriage and raising children.
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ROI of Sustainability is More Complex Than You Think.
The value of energy efficiency and sustainability can prove to be greater, more lucrative or more complex than it appears on the surface.
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In the second quarter of 2017, the Florida housing market had more closed sales, higher median prices and more pending sales, according to Florida Realtors.
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Florida Leads Nation in Foreign Residents Buying and Selling.
Foreign investors want to buy in Florida, but they also want to sell Fla. property when the income potential is right – and many Canadians think that time is now.
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It might not be “Plan A,” but some Millennials that return home after college are turning it into a positive stay by saving enough cash to buy homes.


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What’s Up With Housing?

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The bill working its way through Congress has “significant improvements,” including a commitment to protect current owners from substantial rate increases.
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For the sixth consecutive month, May home prices venture into record territory.
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The CFPB recently loosened rules, and agents now have easier access to the closing disclosure providing certain private information is removed. However now, as before, the lenders decide how to handle it.
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According to Bankrate’s latest Financial Security Index Poll, Americans who have money to set aside for the next 10 years would rather invest in real estate than any other type of investment.
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For the second time in six weeks, a company connected to the same lawyer stood poised to profit from a Pinellas County foreclosure auction that confused even experienced real estate investors.
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It’s cheaper to rent than own a home in 11 states, but Florida’s average monthly rent, $1,543, is still higher than the cost of an average monthly mortgage: $1,376.


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What’s Up With Housing?

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The latest County numbers are in for June and they show that the market continues to hold strong, including the highest Closed Sales figure for the Single Family Homes segment since at least 2009.
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Instead of dormitory-style buildings, flexible mass-produced housing pods might offer a way to sidestep zoning code barriers and get people off the streets.
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What do Americans click most on home remodeling websites? Currently, they’re drawn to modern, high-end finishes, spa-like bathrooms and chic industrial features.
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Once in the top five nationally for foreclosure filings, the Tampa Bay area no longer makes even the top 25.
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Lower Mortgage RatesMortgage rates drop below 4%.
After two weeks of increases that took the 30-year fixed-rate mortgage to 4.03%, it dropped back this week to an average 3.96%.
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What’s Up With Housing?

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Five Ways to Talk to Your Customers about Smart Home Technology.
The smart home market has seen general interest, but also a lot of confusion. Here’s what to keep in mind.
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Florida’s consumers were a bit more optimistic in June.
“Overall, Floridians appear to be more optimistic. Most of the increase is due to the positive perceptions of consumers’ current and future personal finance situation.”

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HUDHUD awards Florida $822K in housing counseling grants.
24 Florida organizations will get money to help buyers prepare to become homeowners, with additional money going to agencies that serve multiple states.

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5 Signs a 30-Year Fixed-Rate Mortgage Is Not for You.
A 30-year fixed-rate mortgage is the gold standard—but for some buyers, it doesn’t make sense. Let’s see if this loan is right for you.
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Affordable housing developments in low-income, minority communities are shown to have multiple positive effects.