What Are the Requirements for Mortgage Pre-Approval?

Documents Required for Pre-Approval of a Mortgage

A pre-approval letter is a document from a lender based on certain assumptions, stating the maximum the lender is willing to lend to purchase a home. When applying for a mortgage pre-approval, the lender typically requires information about your credit, employment, income, debts, and assets to determine your creditworthiness. Documents Needed for Mortgage Pre-Approval Here…

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Staging Tips: Sell Your Home Faster and For a Higher Price

Home Staging Tips

Staging a home will help it sell faster and for a higher price. However, home staging is more than just cleaning, straightening, and rearranging the furniture. Home staging is a way to showcase your home’s best assets to make it appealing to the broadest range of potential buyers. Think of staging as dressing your home…

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Is New Construction Right for Your Home?

New Home Under Construction

Is new construction the right way to go when you can’t find the “perfect” home? Finding an existing home can be a frustrating experience, especially when you discover that the “perfect” home just sold. According to Zillow, homes are selling faster than in previous years. In 2020, homes spent an average of 25 days on…

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Homeowners Have the Selling Power

Selling power is with the homeowner

According to the real estate brokerage firm Redfin, the average homeowner stays in their home longer than they used to. In 2010 a typical homeowner stayed eight years in a home. In 2019, the average was 13 years. Longer homeownership helps drive increased homeowner equity. It is one of the bright spots of the 2020 real estate…

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Is Working from Home Changing Homebuyer Needs?

Is Working from Home Changing Homebuyer Needs?

Working remotely has changed how Americans spend their time at home. The home office has taken on new meaning, and homeowners are no longer looking for a house with a room like the kitchen or den that can double as a home office. Spending extra time at home and the desire for more space, both…

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Median Home Prices and Mortgage Rates Climb [Infographic]

March National Housing Market Report

Highlights The March national median listing home price was over $400,000, an all-time high and an increase of 13.5% over March 2021 prices. Rising interest rates are moderating the demand for homes. As a result, mortgage applications are down 40% from March 2021. Home sellers are seeing a softening market. The share of homes for…

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January Housing Market Report

January 2022 National Housing Market Report

Nationally, the number of homes listed in January was 326,312, down an average of 9.1% compared to January 2021. However, homes continue to sell at a rapid pace. The typical home spent 61 days on the market in January, ten days less than in January 2021, and more quickly than any January going back to…

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Housing Market Report: December 2021

National Housing Market Report

The December national indicators showed improving overall housing market activity. Looming interest rate hikes prompted homebuyers to lock in mortgage rates during a typically slower time of the year. The total number of unsold homes nationwide is down 16.1% from December 2020. This is a minor improvement from November’s 16.2% decline as the inventory share…

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