According to the NAR, sales of existing homes decreased year-over-year 26.6%, and dropped 9.7% from April to May. Even though May was the third month of declines, NAR experts expect a turn around in the near future.
What To Do
Dramatic changes in mortgage rates which have declined significantly due to the coronavirus pandemic can encourage homeowners to consider refinancing their mortgage, despite this scenario, it is worth evaluating if refinancing is the best deal for you!
For the past two months pending homes sales have noticed a significant decline, however, in May they raised by 44.3% compared to April, according to the NAR (National Association of Realtors).
A rental lease is nothing different from a legal bidding contract, that is why you (the future tenant) have every right to negotiate with the landlord before signing any lease document. Keep in mind that after the ink on the leasing contract is dry, neither the tenant nor landlord has no power over suggesting changes in the contract.
For the first time since March, the total number of mortgage loans in forbearance has decreased to 8.48% from the previous week of 8.55% (Mortgage Bankers Association). Currently, there are 4.2M homeowners with forbearance plans.
The NAR (National Association of Realtors) has released earlier this week a plan with five bullets to expand down payment assistance programs, and alternative credit scoring models, plus, improve FHA loans.
Considering investing in a condo or townhouse, but not sure which one is the best fit for you? Condos and townhouses are attractive to many buyers, but the differences aren't obvious. Here are the key differences you'll want to know to make your decision.
The risks and rewards of landlordship.
How to Help Sell Your House: 10 Steps
Heres a list of how you can assist your real estate agent in marketing your home to prospective buyers, and sell it with the best results.
TL;DR: The safest ways to get a land contract is through a nonprofit housing agency, or with a real estate attorney beside you. There are plenty of predatory lenders offering these deals so stay vigilant!
Investing in real estate during coronavirus? Refinancing a loan? Then you're probably interested in mortgage rates. A word of advice: don't get frustrated with the current fluctuation.
It is a well-known fact that the U.S. economy is struggling to recover from economic damages caused by Covid-19, however, the real estate market is actually doing fine!
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