If you’ve ever met a farmer, particularly one from a dry part of the world, you know they always keep at least one eye on the sky. They are constantly watching the weather, divining from even the slightest change in wind direction or temperature what the chances of rain might be.
The housing market has surged in the past year or so, and it shows no signs of slowing down. Homes are disappearing off the market faster than they have in years, and they are selling for more than before. According to a recent Realtor.com study, October 2021’s median listing price was $380,000. That’s a 22% increase since the start of the COVID-19 pandemic. In such a quick-moving atmosphere, buyers have had to adjust their expectations a bit.
As renters look for a lifestyle change that offers more space and privacy, communities of single-family houses built for the purpose of renting have become the hottest trend in housing. 2021 was a record year for single-family rental home construction, with 6,740 new built-to-rent homes completed. And the trend is growing rapidly: twice as many homes are now under construction, for a total of nearly 14,000 set to open their doors to renters beginning this year.
The Consumer Financial Protection Bureau (CFPB) announced last week that it will begin examining the operations of post-secondary schools, such as for-profit colleges, that extend private loans directly to students. The CFPB is issuing an update to its exam procedures including a new section on institutional student loans, the organization reported.
On average, 48.59% of people seeking a home equity loan or HELOC across the nation’s 50 largest metros cited making home improvements as their primary reason. This is according to a new report by LendingTree that analyzed home equity loan (HELOC) offers made by lenders to LendingTree users through the entirety of 2021.
When a homeowner uses the LendingTree platform to look for a home equity loan or HELOC lender, the company asks the user to select one of five reasons why they’re seeking the money. Those reasons are:
By now, you’ve probably heard a bunch of predictions for the 2022 housing market, but a question burning in many real estate professionals’ minds is: what is going to help you win this year?
Buffini & Company founder & chairman, Brian Buffini, had a few thoughts on the matter when he joined RISMedia president, founder and CEO, John Featherston, to discuss what real estate professionals need to focus on to succeed in this year’s housing market.