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☀️ Real Estate’s Sluggish Summer Will Give Buyers a Jump in the Fall

High mortgage rates put the real estate market in a slump in the final month of summer—but, they could also provide a runway for buyers to jump into a less competitive market in the fall.
Homes spent 53 days on the market in August, the longest time for the month in five years, according to Realtor.com® data. There were also a staggering 19.3% of listings with price cuts, the highest level for the month in five years.

It’s not all bad news, though, and it means that buyers can now take their time shopping for a new home in the fall.

“This fall could be busier for the housing market than this season typically is, but it’s still likely to be a less competitive time, which makes it ideal for flexible buyers,” says Realtor.com® Chief Economist Danielle Hale.

And there might be a silver lining for sellers as well.

Learn more at https://www.westandmain.co/blog/real-estates-sluggish-summer-will-give-buyers-a-jump-in-the-fall

Real Estate’s Sluggish Summer Will Give Buyers a Jump in the Fall — West + Main High mortgage rates put the real estate market in a slump in the final month of summer—but, they could also provide a runway for buyers to jump into a less competitive market in the fall. Homes spent 53 days on the market in August, the longest time for the month in five years, according to Realt

⌛ Tired of Waiting for Lower Mortgage Rates? 4 Steps That Could Slash Your Rate Right Away

Homebuyers who are tired of waiting for lower mortgage rates can take concrete steps now to get a better deal on their own, according to a new report from the Realtor.com® economic research team.

Altogether, the four steps examined in the report can lower a borrower’s mortgage rate by nearly 150 basis points, or 1.5 percentage points. On a $500,000 home purchase with 20% down, that equates to a savings of $400 per month, or $4,800 annually.

Shopping around for the best rates yields the biggest average rate savings, of 86 basis points. Improving your credit score to at least Very Good (750-plus) can shave off an average of 39 basis points. And increasing your down payment to at least 20% of the purchase price, while keeping a debt-to-income ratio of less than 30%, reduces rates by a combined 22.5 basis points.

Get all the details at https://www.westandmain.co/blog/tired-of-waiting-for-lower-mortgage-rates-4-steps-that-could-slash-your-rate-right-away

Tired of Waiting for Lower Mortgage Rates? 4 Steps That Could Slash Your Rate Right Away — West + Main Homebuyers who are tired of waiting for lower mortgage rates can take concrete steps now to get a better deal on their own, according to a new report from the Realtor.com® economic research team. Altogether, the four steps examined in the report can lower a borrower’s mortgage rate by nearly

🔨🚿 How Much Does It Cost To Renovate a House? Average Home Renovation Costs for Bathrooms, Kitchens, and Beyond

Home renovations and remodeling costs may be a hard pill to swallow after shelling out the purchase price of a new home, but if you’re the proud homeowner of a fixer-upper (or even if you’re the proud owner of an older home that needs some work), you may be itching to make some updates.

And that will get you wondering: How much does it cost to renovate a house? Knowing your numbers ahead of time is crucial, lest you end up with plans that are bigger than your budget.

So, before you so much as take a peek at a tile sample, check out this detailed breakdown on how much your dream home renovation will set you back, plus average home renovation costs and your potential return on investment (ROI).

How Much Does It Cost To Renovate a House? Average Home Renovation Costs for Bathrooms, Kitchens, and Beyond — West + Main Home renovations and remodeling costs may be a hard pill to swallow after shelling out the purchase price of a new home, but if you’re the proud homeowner of a fixer-upper (or even if you’re the proud owner of an older home that needs some work), you may be itching to make some updates. And that...