Realtor.com

JANUARY 2, 2023

Getty Images Many first-time homebuyers might shy away from the prospect of buying a brand-new home, assuming: It will cost too much. While purchasing new construction is indeed different from purchasing previously owned property, many misconceptions abound about new builds. New construction homes are more expensive.

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HomeLight

JUNE 27, 2022

You’re looking at new construction as an option for your new home and love the idea of buying a brand-new house that has never been lived in before. However, you want to arm yourself with the tools and insider information so you don’t get too carried away with the new build. The dos of buying new construction.

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New Construction Construction Pre-approval Inspection 105

Marco Santarelli

MAY 11, 2024

Local factors like job markets, industry presence, and the pace of new construction can significantly influence housing trends within a particular state or even a metropolitan area. If it ignites a surge in activity, fueled by pent-up demand or a dip in mortgage rates, it could propel prices back up.

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Mortgages Marketing Equity Pre-approval 109

Marco Santarelli

APRIL 20, 2024

Soaring home prices fueled by historically low mortgage rates created a frenzy of buyer activity. Mortgage rates are likely to remain elevated compared to historic lows, impacting affordability for some buyers. We'll explore what's in store for home prices , mortgage rates , and housing inventory.

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Marketing Pre-approval New Construction Fixed-rate mortgage 105

Marco Santarelli

JANUARY 15, 2025

Job Growth vs. New Construction: A vibrant job market attracts new residents, but if there aren't enough new homes being built, competition will surge, which can put upward pressure on home prices. It's not always about the biggest jump, but rather sustainable, steady growth.

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Marketing Pre-approval Sales New Construction 98

Marco Santarelli

JUNE 23, 2024

Mortgage Rates May Dip While mortgage rates remain elevated compared to pre-pandemic levels, there are signs that they may start to come down. This could lead to a renewed surge in buyer activity, particularly from first-time buyers who have been particularly impacted by high mortgage rates.

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Realtor.com

DECEMBER 8, 2022

Mortgage rates were low, then soared to a 20-year high of 7.08% before dipping again. Can’t-miss tip: Many homebuyers pass over the importance of getting pre-approved for a mortgage before starting a house hunt. Of course, home shoppers still had to contend with high prices and soaring mortgage rates.

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HomeLight

AUGUST 31, 2021

Don’t let the pristine facade or shiny appliances of a model home deceive you: buying new construction will be as complex as any old real estate transaction, if not more so. These are all areas where a knowledgeable buyer’s agent who’s got lots of new-build experience and local builder connections can be invaluable.

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Agents New Construction Purchase and sale agreement Construction 128

Realtor.com

JULY 9, 2021

The couple lived in a third-floor apartment with their two children in a pre-war building they loved on Manhattan’s Upper West Side. We kept it in the pre-war style of the building, so we maintained its spirit, but everything is modern and new.”. We wanted the apartment to be our own and to reflect what we like,” she said. “We

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Marco Santarelli

NOVEMBER 14, 2024

Mortgage Rate Volatility: Mortgage rates have been fluctuating, causing some buyers to hesitate before making a purchase. This kind of news can make people nervous about the economy's future and their ability to afford a home. New construction: An increase in new homes can put downward pressure on prices.

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Marketing Pre-approval Mortgages New Construction 109

HomeLight

AUGUST 31, 2021

Many mortgage lenders will not finance the purchase of a home that needs significant repairs. Only lenders that have been approved by the FHA can offer 203(k) loans. Interest rates on 203(k) loans are as much as 1% higher than for other FHA mortgage loans. All repairs must be planned, specified, and approved in advance.

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Loans FHA loan Pre-approval Finance 104

Marco Santarelli

SEPTEMBER 1, 2024

Interest Rates : Current mortgage rates are significantly impacting buying power and affordability. Recent updates show that mortgage rates in California are on the rise, hovering around 7% as of September 2024. Emerging Areas : Suburban locations like Vallejo, Benicia, and certain parts of San Jose offer more affordable options.

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Marketing Pre-approval Construction Renovation 98

Marco Santarelli

MAY 7, 2024

A recent survey by the New York Fed has sent shivers down the spines of aspiring homeowners. The survey paints a picture of consumers anticipating a dramatic rise in mortgage rates, potentially reaching a staggering 10% within three years. in mortgage rates within the next year, followed by an even steeper climb to 9.7%

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Mortgages Pre-approval Construction New Construction 52

Realty Biz

SEPTEMBER 23, 2023

Understanding the mortgage process, including prequalification and pre-approval, is also essential. Buyer agents can provide valuable support in various situations, such as buying a new home or purchasing a foreclosure. It is essential to prepare for the mortgage pre-approval process.

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Purchase and sale agreement Pre-approval Agents Pre-qualification 70

Realty Biz

DECEMBER 27, 2021

You can expect price hikes to be smaller but that doesn’t mean the mortgage payment you could lock in January will be the same as the mortgage payment available in July. Freddie Mac says 7% and the Mortgage Bankers Association is leaning towards a 5.1% However, the challenges will be a little different. gain in 2021.

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HomeLight

FEBRUARY 8, 2021

But in spite of the steep prices in housing overall, monthly mortgage payments in Orange County still clock in at $301 less in 2020 than in 2019 , thanks to low mortgage rates. The city of Irvine is famous for its laid-back California Modern homes, breezy Mid-century Modern homes, and a surplus of new construction.

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Pre-approval New Construction Agents Development 105

HomeLight

AUGUST 16, 2022

A Pew Research Center analysis of data from 44 advanced economies found consumer prices have risen substantially in nearly all of those countries since the pre-pandemic era. So, to help you navigate in this new world where everything costs more, we’re arming you with the latest information about: what is causing inflation.

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Marketing Pre-approval Equity New Construction 110

Marco Santarelli

DECEMBER 18, 2024

Mortgage Rate Volatility: Mortgage rates have been fluctuating, causing some buyers to hesitate before making a purchase. This kind of news can make people nervous about the economy's future and their ability to afford a home. New construction: An increase in new homes can put downward pressure on prices.

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Marketing Pre-approval Mortgages New Construction 96

Real Trends

DECEMBER 12, 2022

Prediction 1: The affordability crisis will stabilize as home prices post the first year-over-year decrease in over a decade and mortgage rates decline, settling somewhere in the mid-5% to low-6% range. Prediction 3: New construction will focus on multifamily rental properties.

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Marco Santarelli

DECEMBER 16, 2024

Mortgage rates were higher, and home prices were considerably lower than they are today. A lot of current homeowners have low mortgage rates think 3% or even lower from when the rates were at rock bottom. Affordability Issues: It's not just the mortgage rates. New Home Sales as a Bright Spot: Here's a bit of good news.

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Sales New Construction Construction Pre-approval 52

Marco Santarelli

MAY 23, 2024

In March, the average rate for a 30-year fixed mortgage hovered around 6%. Some large builders have tried to ease the burden for buyers by offering to buy down mortgage rates. However, as Peter Boockvar , a CNBC contributor, points out, “the entire new build industry is selling new homes at a pace below the 5-year average.”

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Sales Pre-approval New Construction Construction 52

Marco Santarelli

AUGUST 17, 2020

And Zillow helps you to find mortgage lenders, once you find a property you want to buy. Zillow Home Loans, Zillow’s affiliated lender, provides mortgage pre-approval and financing. Are there mechanics liens or a mortgage against the property? It can connect renters and landlords, as well. Pic Credits: Auction.com.

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Purchase and sale agreement Investor Land MLS 115

Marco Santarelli

DECEMBER 12, 2024

Improved Housing Inventory: With mortgage rates potentially stabilizing and homebuilders increasing production, the housing inventory situation is gradually improving. New construction also plays a role in adding more inventory, creating a healthy market dynamic. This is a crucial element for families with school-aged children.

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VA loan Marketing Pre-approval FHA loan 52

Marco Santarelli

AUGUST 3, 2024

Many first-time buyers underestimate the true cost of homeownership, overlooking the hidden expenses beyond the mortgage payment. Not Saving Enough for a Down Payment: Many assume a 20% down payment is mandatory, but with options like FHA loans, you might be able to secure a mortgage with a smaller down payment.

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Closing costs Inspection Pre-approval FHA loan 52

HomeLight

MARCH 21, 2023

In addition, Leonard points out that builders can be incentivized to negotiate to clear new construction inventory at the end of the year, offering deals in December that are no longer available in January. This can influence the mortgage rate you might qualify for. Select a mortgage company to work with.

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Agents Pre-approval Closing costs Sales 105

HomeLight

FEBRUARY 3, 2022

A cash buyer will offer the entire amount for the house with no mortgage or other type of financing involved. It’s also good practice to screen buyers for pre-approval or proof of funds before they view the home to cut back on useless showings. With advanced planning, new construction is another option. “If

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Staging Pre-approval Agents Proof of funds 105

HomeLight

MARCH 13, 2023

New construction surge contributing to competition for buyers. Certainty: With a pre-offer walk-through, a cash home buyer can typically provide a firm cash offer that comes with few, if any, contingencies. No pre-qualifying for a loan. iBuyers see opportunity in Austin. How much will Austin cash house buyers pay?

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Sales Investor House Flipping Pre-approval 95

Marco Santarelli

NOVEMBER 12, 2024

Mortgage Rate Volatility: Mortgage rates have been fluctuating, causing some buyers to hesitate before making a purchase. This kind of news can make people nervous about the economy's future and their ability to afford a home. New construction: An increase in new homes can put downward pressure on prices.

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Marketing Pre-approval Mortgages New Construction 52

Realty Biz

AUGUST 29, 2023

Understanding the Construction Process When embarking on the journey of building a new house, it is crucial to have a solid understanding of the construction process. Buying new construction can be exciting but quickly become a nightmare.

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Construction Inspection Design Land 92

Redfin

APRIL 21, 2023

The state has seen a significant increase in new construction, with builders developing homes in both urban and suburban areas to meet the demand for housing. Get pre-approved from a lender Before you start looking for a house in Florida, you first need to pre-approved for a mortgage.

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Pre-approval Closing costs Title Loans 59

Marco Santarelli

AUGUST 18, 2020

Even with the pause in the market this spring, home values have not been severely impacted in a negative way, which is good news for home sellers. While mortgage rates are pushed lower by the recession caused by the economic shutdown, banks are managing their risk by requiring you to have near-perfect credit. Inventory is tight.

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Marketing Purchase and sale agreement Investor Sales 124

Redfin

JULY 10, 2023

According to a new Redfin study, the average rent price in Austin is $2,951, while the estimated median monthly mortgage cost is $3,801. Stable monthly payments Buying a home with a fixed-rate mortgage means that your monthly mortgage payments stay the same over the duration of your mortgage.

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New Construction Closing costs Equity Purchase and sale agreement 48

HomeLight

NOVEMBER 21, 2022

Gila adds that FSBO sellers should list their home at fair market value , especially when competing with new construction in South Carolina that offers high incentives for buyers as well as real estate agents who provide Realtor® bonuses and buy-down interest programs or closing costs paid by sellers. Require everything in writing.

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Purchase and sale agreement MLS Pre-approval Agents 102

HomeLight

DECEMBER 14, 2021

has been experiencing a nationwide inventory shortage as the result of new construction hurdles and low interest rates, it’s more likely that you’re in a seller’s market than buyer’s market. Ensure any buyer who books a tour is pre-approved for a mortgage or has proof of funds. Because the U.S.

Staging 98

Staging Agents Proof of funds Pre-approval 98

Marco Santarelli

APRIL 29, 2021

For buyers, the mortgage rates are still low as compare to last year. The percent of delinquent mortgages in San Jose is 0.3%, which is lower than the national value of 1.1%. The percent of San Jose homeowners underwater on their mortgage is 1.6%, which is higher than San Jose-Sunnyvale-Santa Clara Metro at 1.5%. Prior Month.

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Marketing Investor Residential Sales 126

HomeLight

FEBRUARY 28, 2021

The average monthly mortgage payment of a homebuyer in Cumberland County is $1,138 , according to National Association of Realtors®’ data. If you’re chasing new constructions, getting into Portland’s outskirts is usually the strategy. That’s quite a bit higher than the Maine median home price of $225,000.

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Inspection Pre-approval Renovation Development 90

Toronto Realty Blog

SEPTEMBER 23, 2022

Condominium cancellations were rampant in the pre-construction industry and people were starting to get pissed. From the article: On June 23, 2021, Green Urban advised all buyers that because it had not received the required approvals from the town of Tillsonburg or the County of Oxford, the contracts were being terminated.

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Construction Purchase and sale agreement Industrial Development 59