Tuesday, December 18, 2018 / by Carlos J Higareda
December 17, 2018
© Nora Carol Photography - Moment/Getty Images
The Federal Housing Administration has announced that most of the country will see an increase to loan limits in the new year. The loan limit for lower-cost areas will be set at $314,827—or 65 percent of the national conforming loan limit of $484,350. In high-cost areas, the new FHA limit for 2019 will increase to $726,525, up from $679,650. The new loan limits will take effect Jan. 1.
The FHA sets single-family forward loan limits at 115 percent of median home prices, which is subject to a ceiling on limits. For the past few years, the FHA has been increasing loan limits in a greater number of counties. In 2016, the FHA raised loan limits for 188 counties. In 2019, 3,053 counties will see an uptick in FHA loan limits. View the FHA’s letter on 2019 forward mortgage limits.
“FHA Loan Limits to Increa ...
Saturday, December 15, 2018 / by Carlos J Higareda
December 14, 2018
The biggest pest of 2018? Bedbugs.
The second annual Terminix Entomologists’ Almanac took a look at the biggest pest trends from the past year based on social media chatter and internet queries. Bedbugs clinched the title for the second year in a row.
Americans searched for information about bedbugs more than 6.7 million times this year—more so than any other pest. Terminix, a national pest control company, says it has seen a steady increase in bedbug infestations since the 1990s.
Terminix revealed the following as 2018’s biggest pests of the year:
Terminix also released findings of the pest-laden places in 2018, based on search data per capita.The states with the most pest problems and searches in 2018 are:
1. Distri ...
Wednesday, December 12, 2018 / by Carlos J Higareda
December 11, 2018
More and more phishing scams are targeting real estate professionals and their clients, attempting to dupe you out of money. There are several steps to take to make sure that you and your clients aren’t the next victims.
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The National Association of REALTORS® issued an all-member alert on Sunday warning members of the latest email phishing attempt targeting the industry. The email appeared to be under the REALTOR® Party banner and solicited members to help “Support Diana” with a financial donation through a GoFundMe page. NAR warned that the email was not from the association or the REALTOR® Party. NAR says it will never solicit donations for personal or individual charities.
The latest is part of a string of phishing scams targeting the real estate industry in business email compromise that focus on ...
Friday, December 07, 2018 / by Carlos J Higareda
December 6, 2018
Secured financing is the key to how many homeowners are paying for home upgrades, according to a new survey from home remodeling website Houzz and Bank of America. Owners who used secured financing were able to fund much larger home improvement projects, too, at nearly three times the median spending of those who paid for renovations with cash only ($32,000 versus $13,000), the study showed.
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More homeowners are turning to the equity they’ve accumulated in their homes. Those with mortgages have seen their home equity more than double since 2011. HELOCs—home equity line of credit—are the most common form of secured financing. HELOC originations totaled $157 billion in 2017, which is more than 60 percent of consumer real estate–secured financing, according to the study. Consumers surveyed said the top motivations for using a HELOC were ease o ...
Thursday, December 06, 2018 / by Carlos J Higareda
December 5, 2018
Buyers are spending significant time trying to find the perfect home. Fifty-four percent of active buyers say they’ve been trying to find the right home for three months or longer, according to the National Association of Home Builders’ Housing Trends Report poll.
Buyers say the biggest delays that are stretching out their home search is they can’t find a home at an affordable price (49%), followed by not being able to find a home with the desired features they want (40%) or in their ideal neighborhood (38%).
© National Association of Home Builders
But most of the prospective buyers surveyed say they refuse to give up and will keep looking until they find the right home. The NAHB survey found that buyers who are unable to find a home over the next few months plan to do the following:
61% will continue looking until the “right” home opens up in a preferred location
37% will ex ...