You’ve found the right house, your offer is accepted, and you’re anticipating closing day. But then your lender calls with bad news, a survey reveals a property line dispute, or closing costs turn out to be thousands higher than you expected. Suddenly, your deal is at risk. Debbie Rice, Owner and Lead Transaction Coordinator with ...
A house listed for $599,000 in Wayne, New Jersey, recently drew a line of buyers out the door. When offers closed, it sold for over $700,000, more than $100,000 above the asking price. Far from being an outlier, this kind of bidding war has become the norm in northern New Jersey’s residential market. While much ...
After several years of rising home prices, Jacksonville homeowners are rethinking their next move. Instead of selling, many are choosing to become landlords, a trend that is adding new inventory to the city’s rental market. Property manager Joseph Keshi, founder of Keshman Property Management in Jacksonville, reports that more owners are opting to rent out ...
After a period of caution in 2023 and early 2024, banks are returning to construction lending, opening new opportunities for technology platforms that address the sector’s complex documentation and collaboration needs. The renewed activity is prompting both lenders and developers to reconsider how technology can close the gaps where information breaks down, funding stalls, and ...
Three years ago, buying a home in St. Augustine required waiving inspections, submitting offers without seeing the property, and competing against multiple bidders. Today, the pace has slowed. Buyers are taking time to evaluate homes, ask questions, and negotiate terms — marking a return to a more typical market dynamic. After a period of intense ...
The idea that high interest rates are keeping first-time buyers out of Bergen County’s housing market misses the real obstacle, according to Gina Gerszberg, broker salesperson at Douglas Elliman Real Estate. While rates get most of the attention, Gerszberg says the real hurdle for new buyers is the size of the down payment needed to ...
Soaring land acquisition costs, infrastructure expenses, and permitting fees are adding $50,000 to $60,000 to the cost of every new home in the Orlando area before construction even begins, according to Brenden Rendo, Real Estate Broker at NextHome. These upfront costs are reshaping the economics of entry-level housing in Central Florida, pushing realistic starting prices ...
While mortgage rates remain the focus of most real estate coverage, a separate affordability crisis is emerging in Hampton Roads as insurance premiums and property taxes climb sharply. These increases are raising monthly housing costs by 11-12% — even before factoring in interest rates — creating a structural affordability problem that lower rates alone cannot ...
Regulatory pressure is pushing lenders to resolve troubled commercial loans, prompting some highly leveraged property owners to sell and creating opportunities for cash buyers. For the past several years, commercial real estate lenders and borrowers have relied on loan modifications and maturity extensions to delay recognizing losses on struggling properties. This practice, widely known as ...
The average age of first-time homebuyers in St. Petersburg, Florida, has reached 40, reflecting limited affordability and constrained inventory that continue to discourage younger buyers. Jake Maisner, COO and Partner at Jac Smith Group with Keller Williams St. Pete Realty, says that despite a recent uptick in listings following the fall 2024 hurricanes, the new ...
Utah housing officials warn that structural problems in mortgage financing are pricing most residents out, even as new construction increases. According to Steve Waldrip, Senior Advisor for Housing Strategy and Innovation in Utah’s Office of the Governor, traditional mortgage systems now serve only a narrow slice of the population, and the gap is widening. “In ...
Lenders across Long Island are now treating accessory dwelling units, including basement apartments and mother-daughter setups, as income-generating assets rather than liabilities. According to Perry Pappas, team leader of The Perry Pappas Team with Coldwell Banker American Homes, the shift in underwriting standards is changing how buyers qualify for mortgages and how sellers market their ...
Financing problems, not appraisal gaps or high rates, have become the leading cause of failed residential real estate deals in Houston. According to Anja Drewes Neidhardt, owner and broker at Anja Drewes Properties, the main culprit is lender incompetence, with critical documentation issues surfacing just days before closing. Rate Shopping Houston home sales are increasingly ...
Appraisal-required repairs in as-is sales are derailing a significant number of entry-level home purchases in North Alabama, according to Nina Soden, associate broker at The Soden Team of Legend Realty. Soden reports that financed deals under $250,000 are falling through at higher rates, with property condition emerging as the main obstacle. Many homes at this ...
Foreclosures in Arizona are increasing after years of minimal activity. More homeowners are falling behind on payments, and more properties are entering the foreclosure process. While the situation is not yet a crisis, the trend marks a shift in the Arizona housing market that both buyers and sellers should take note of. “We’re not seeing ...
