R. Clark Smith IV

“While people make the choice to own or rent that suits them at a given point, maybe more young adults should take into account the long – term consequences of renting when homeowner- ship is an option”. Urban Institute TOP STORY: Restoring Old Homes There are a lot of reasons for buying a fixer-upper. Older … Read more

House prices are higher than before the housing market collapsed. But today “they don’t make the market vulnerable to such a downturn because these prices are mostly because of unmet demand caused by inadequate supply.” Urban Institute TOP STORY: Lessons Learned? It has been over 11 years since Bear Stearns and Lehman Brothers failed and … Read more

recent survey found that 55% of U.S. homeowners with a child under age 18 said they considered their child’s opinion when they bought their home. Among Millennial parents 74% admitted their kids’ opinions were a factor in their choice.

“Fixed-rate mortgage rates have dropped 0.6% since November 2018 and today are lower than they were a year ago,” said CoreLogic Chief Economist Frank Nothaft. He predicts the slowdown in home prices will continue, estimating that home prices will increase by 3.4% in 2019, compared with 2018’s average of 5.8%. You may use our Mortgage … Read more

“New-home size falls prior to and during a recession as homebuyers tighten budgets, and then sizes rise as high-end homebuyers return to the housing market in relatively greater proportions.” Robert Dietz, NAFIB chief economist TOP STORY: The All Important Appraisal Remember the old expression about buying a pig in a poke? For the uninitiated, it … Read more

After softening for much of 2018, the housing market remains stable after a boost from lower mortgage rates and slowing home price growth. FreddieMac.com TOP STORY: Understanding Mortgage Interest Rates It has been years since it seemed necessary to think much about interest rates. There has been the once-a-month ritual of watching and worrying over … Read more

Throughout 2018, 28-31% of non-owners…… said an improvement in their financial situation would be the top reason that would encourage them to buy a home in the future. 26-30% of non-owners said a change in lifestyle-such as getting married, starting a family or retiring-would be the primary reason they would make a future home purchase. … Read more

“Look at rising mortgage – rates to play an even greater part in affordability, slowing the market for sellers and impacting buyers. Home prices are still expected to rise, though at a much slower rate than we’ve become accustomed to. Realtor.com forecasts home prices to increase by 2.2% nationally.” Forbes.com TOP STORY: “Once Upon a … Read more