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What’s Up With Housing?

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Some buyers want a newly built home, but today’s tight inventory of existing homes is pushing even more to consider construction. Building a home, however, comes with different challenges, such as greater difficulty finding a willing lender.
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Inventory of homes for sale is still well below the 6-month supply needed for a normal market and supply will ‘fail to catch up with demand’ if a ‘sizable’ supply does not enter the market.
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According to the recent JPMorgan Chase Business Leaders Outlook survey, which showed that about 91 percent of owners of the state’s small- and medium-sized businesses expect local economic conditions to be favorable in 2018.
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Rents have steadily increased and are showing no signs of slowing down. If you are faced with making the decision of whether or not you should renew your lease, you might be pleasantly surprised at your ability to buy a home of your own instead.
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“Even considering the recovery from the financial crisis, we are experiencing a boom in home prices.”
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Conference Board: Despite recent stock market volatility, consumers expressed greater optimism about short-term prospects for U.S. businesses and labor markets.
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Interesting Housing News

 

Independence Day

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Quicken LoansDid you know that Quicken Loans now offers 1% down mortgages?
They’ve been flying under the radar with its 1% down mortgage, which it began nearly six months ago.
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Florida Association of RealtorsHave a Lower Credit Score?  Apply For a Mortgage.
It seems illogical: Lenders say they’ll now approve loans to buyers with lower credit scores, but the average score of people actually approved continues to rise.
There’s no reason to be a no-show in the home purchase market if you know where to target your application.
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BREXITBREXIT: What’s the FIXIT for U.S. Home Buyers and Sellers?
The UK’s exit from the EU almost certainly guarantees interest rates will remain low (and possibly go lower) over the next few months. The cost of money may never be better for a potential buyer.
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Vacation Home BuyersWhy 2016 could be the year Canadians start buying more US vacation homes…
Home prices are rising faster in Canada than they are in the US, and the National Association of REALTORS® says more Canadian buyers will snap up stateside vacation properties as a result.
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Rent or Buy?The Age Old Question: Rent or Buy?
Potential home buyers must decouple “investment” from “consumption” in order to make the best decision for themselves.

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