A new home appraisal rule just went into effect—the first time in 25 years that “federal regulators have increased the property value limit of the homes that require an appraisal as part of the selling process,” said REALTOR® Magazine.
The rule exempts some home sales priced at $400,000 and below from requiring an appraisal. That figure was previously capped at $250,000. “The new rules likely apply to about 40% of home sales, regulators estimate.”
Perhaps the single biggest obstacle to home ownership is coming up with enough money for a down payment, closing costs and cash reserves. While some loan programs don’t require a down payment, such as the VA and USDA programs, others
do. For example, FHA loans ask for a minimum down payment of just 3.5 percent of the sales price.
Worried you missed your window when it comes to selling your home this year? It’s true that spring and summer are the hottest (literally) seasons of the year, with more buyers out there looking to purchase a home and get settled before
school starts. Also, there is some recent data out there that says that October and December are two of the slowest months of the year for home sales.
Yes, a menagerie of pumpkins and autumn leaves gathered about speak to the time of year. But that doesn’t mean you have to turn your home into what could pass for a fall festival in order to capture the spirit of the season. Leave the
gourds behind and embrace these fall interior design trends for a chic home that oozes fall coziness.
Freddie Mac's results of its Primary Mortgage Market Survey® shows that "The outlook for a favorable resolution to the trade dispute between the U.S. and China is still
unclear, introducing some volatility into financial markets and the benchmark 10-year Treasury yield. Mortgage rates are following suit but are at near historic lows, while mortgage applications to purchase a home remain higher year over year."
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