Almost anyone who has searched for a house recently knows there are not enough houses for sale. One simple number defines the problem: In October 2017, the nation had a 3.9-month supply of existing homes for resale. That means, at the pace seen then, it would have taken 3.9 months to sell all the homes on the…
The housing picture is likely to improve in 2018: Home prices are expected to climb, but not as fast More houses could be for sale toward the end of the year, giving home buyers a greater selection to choose from Homeowners will have more equity to borrow from Yet in other ways, 2018 might continue…
A hot new scam targets home buyers: down payment wire fraud. Hackers send bogus emails, telling buyers where to wire the down payment money. The stolen money disappears. The home buyer ends up with an empty bank account and a broken heart. Hundreds of millions of dollars have been stolen this way. But you can avoid that…
Title insurance: It’s another one of those mysterious fees buried inside the pile of paperwork you’ll receive at your loan closing. Who knows what it’s all about? All you’ve figured out is that lenders require a policy for their protection, and either you or the seller will have to pay for it — and then you’ll…
A home purchase brings together so many things under one roof: dreams, shelter, status, maybe a passport to better schools and neighborhoods. And one more thing: It gives you a forced savings account. It does that by letting you build home equity, which is the difference between your home’s market value and what you owe on…
Real estate can be confusing at first, largely due to the many different terms and phrases you have to know and understand. To make it a little easier to grasp, here’s a simple explanation of five common real estate terms. Pre-Approval Letter A pre-approval letter is a statement from the bank that basically estimates how much…
When you’re looking for a home, the right neighborhood is one of the most important factors to consider. Here are five things that make for a great neighborhood. Schools This one seems pretty obvious, but it bears repeating. Good schools are essential to a good neighborhood. Quality schools ensure that families will continue wanting to…
Moving is tough for everyone. Organizing, packing, and leaving behind familiarity can be exhausting and overwhelming. Here’s a list of five things you should do before moving to help make your move a little bit smoother. Leave Clutter Behind Moving can be a great opportunity to clear out some of your clutter and get rid…
Touring a home during an open house is a common step in the home search process. Here are five things you should keep an eye out for while in an open house. Windows and Doors If the windows and/or doors are lopsided, it could be a signal of problems with the foundation or just poor…
Buying a home can be nervewracking, especially if you’re a first-time home buyer. Not only is it probably the biggest purchase of your life, but the process is complicated and fraught with unfamiliar lingo and surprise expenses. To make the first-time home buying journey a little less stressful, NerdWallet has compiled these 25 tips to…
