Latest news with #Realtor
Yahoo
14 hours ago
- Business
- Yahoo
5 States Where Homes Sell the Quickest — Should You Sell?
With the homebuying season in full swing, many owners want to know whether they should sell their homes or hold out for a better market. Most experts agree that high mortgage rates have kept the market stagnant. However, data from Clever Real Estate reveals the housing market in the U.S. differs significantly by region. In some parts of the nation, homes sit on the market for months, while in others, they are in escrow within days. Trending Now: Read Next: With the fate of rates in question, hopeful sellers will have to rely more on things like inventory to determine whether they should sell. Here are the five states where homes are selling the quickest. Massachusetts leads the nation with the fastest-selling homes on the market. According to Clever, homes in the Bay State spend an average of 22 days on the market. Low inventory is the propelling factor behind this quick turnaround. The state has a housing supply that would last only 1.9 months. For sellers, the low inventory keeps home prices high. The median home price in the state is $629,000, well above the national average of $429,000. Potential sellers may want to act fast to take advantage of the red-hot rocket. Sales in the state increased 2.57% in 2024 over the previous year. Metro areas near Boston, such as Springfield, are not only top markets in the state but also in the country, as reported by Explore More: The second fastest-selling state in the nation is Nebraska. On average, homes spend just 24 days on the market. With only two months of housing inventory, low supply is a driving force behind the hot market. While high mortgage rates may be stunting home sales in other areas of the country, sellers in the Cornhusker State continue to benefit from high demand and lower-than-average home prices that attract buyers. The median home price in Nebraska is $289,000, significantly less than the national average. Ranking third on the list, homes in the State of Washington stay on the market for just 25 days. Low housing inventory, enough for just over two months, helps to move houses quickly in the state. Buyers are not deterred by a high median home price, likely due to a higher-than-average median household income. The average home costs around $636,000, and the average household income is $94,605. While some potential sellers may hold out hope for a substantial drop in mortgage rates, the Fannie Mae (FNMA/OTCQB) Economic and Strategic Research (ESR) Group anticipates the rate will be reduced to 6.3% in 2025 and 6.2% in 2026. Home sales continue to grow in the northernmost state of Alaska. Homes stay on the market for a median of 26 days. As with the other states ranking high on the list for fastest selling, Alaskan home sellers benefit from low inventory. The state has a housing supply of just 2.4 months. Lower than average median home prices ($380,000) and higher than average median income ($86,631) help to keep the market in the state healthy for sellers hoping to sell quickly. In Kansas, homes stay on the market for a median of 27 days. The midwestern state has the lowest housing inventory of all states at just 1.5 months. Potential sellers can take advantage of the lack of supply and housing prices below the national average to entice buyers and move property quicker than 45 other states. More From GOBankingRates 8 Common Mistakes Retirees Make With Their Social Security Checks This article originally appeared on 5 States Where Homes Sell the Quickest — Should You Sell? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
5 States Where Homes Sell the Quickest — Should You Sell?
With the homebuying season in full swing, many owners want to know whether they should sell their homes or hold out for a better market. Most experts agree that high mortgage rates have kept the market stagnant. However, data from Clever Real Estate reveals the housing market in the U.S. differs significantly by region. In some parts of the nation, homes sit on the market for months, while in others, they are in escrow within days. Trending Now: Read Next: With the fate of rates in question, hopeful sellers will have to rely more on things like inventory to determine whether they should sell. Here are the five states where homes are selling the quickest. Massachusetts leads the nation with the fastest-selling homes on the market. According to Clever, homes in the Bay State spend an average of 22 days on the market. Low inventory is the propelling factor behind this quick turnaround. The state has a housing supply that would last only 1.9 months. For sellers, the low inventory keeps home prices high. The median home price in the state is $629,000, well above the national average of $429,000. Potential sellers may want to act fast to take advantage of the red-hot rocket. Sales in the state increased 2.57% in 2024 over the previous year. Metro areas near Boston, such as Springfield, are not only top markets in the state but also in the country, as reported by Explore More: The second fastest-selling state in the nation is Nebraska. On average, homes spend just 24 days on the market. With only two months of housing inventory, low supply is a driving force behind the hot market. While high mortgage rates may be stunting home sales in other areas of the country, sellers in the Cornhusker State continue to benefit from high demand and lower-than-average home prices that attract buyers. The median home price in Nebraska is $289,000, significantly less than the national average. Ranking third on the list, homes in the State of Washington stay on the market for just 25 days. Low housing inventory, enough for just over two months, helps to move houses quickly in the state. Buyers are not deterred by a high median home price, likely due to a higher-than-average median household income. The average home costs around $636,000, and the average household income is $94,605. While some potential sellers may hold out hope for a substantial drop in mortgage rates, the Fannie Mae (FNMA/OTCQB) Economic and Strategic Research (ESR) Group anticipates the rate will be reduced to 6.3% in 2025 and 6.2% in 2026. Home sales continue to grow in the northernmost state of Alaska. Homes stay on the market for a median of 26 days. As with the other states ranking high on the list for fastest selling, Alaskan home sellers benefit from low inventory. The state has a housing supply of just 2.4 months. Lower than average median home prices ($380,000) and higher than average median income ($86,631) help to keep the market in the state healthy for sellers hoping to sell quickly. In Kansas, homes stay on the market for a median of 27 days. The midwestern state has the lowest housing inventory of all states at just 1.5 months. Potential sellers can take advantage of the lack of supply and housing prices below the national average to entice buyers and move property quicker than 45 other states. More From GOBankingRates The 10 Most Reliable SUVs of 2025 This article originally appeared on 5 States Where Homes Sell the Quickest — Should You Sell? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Lifestyle
- Yahoo
Todd and Julie Chrisley to live in this southern state after presidential pardon
Todd and Julie Chrisley have returned to Nashville, Tennessee, since receiving pardons from President Donald Trump. The president issued pardons for Todd and Julie earlier this week, with the couple traveling back home to Music City after being released Wednesday from prison in Florida and Kentucky, respectively. on Thursday reported that Todd and Julie were expected to take up residence in a home in Nashville that has belonged to the family since 2016. The house sits on more than a half-acre lot in Belle Meade, a wealthy city within the Nashville area southwest of downtown. Todd Chrisley Opens Up About Life Behind Bars And His First Moments Out Of Prison It boasts over 5,200 square feet of living space, according to the outlet. Read On The Fox Business App In the kitchen, there is a sizable island for eating, reported. The home also has a wet bar. The Chrisley family paid $1.6 million for the property when they bought it, according to the outlet. Savannah, one of Todd and Julie's children, became the owner of the home about five years ago through an ownership transfer, reported. FOX Business reached out to Todd and Julie's attorney for comment on report. Savannah said in an Instagram video about Todd and Julie's pardons before her parents' return to Nashville that the family was "getting some clothes together for mom and dad, getting their room together upstairs, and I'm just speechless." Todd And Julie Chrisley Return To Reality Tv After Trump Pardon Frees Them From Prison The couple's pardons came roughly over two-and-a-half years after going to prison. They claim they were wrongly convicted. Todd and Julie were convicted of conspiring to defraud community banks out of more than $30 million in fraudulent loans as well as tax evasion and sentenced to 12 and seven years, respectively. Their sentences were later reduced. Both of them were seen out-and-about in Nashville on Thursday. Julie paid a visit to a local butcher shop, while Todd went into a Nordstrom later in the day, Fox News Digital reported. Julie Chrisley Makes First Public Outing After Trump Pardon Savannah said during a Friday press conference with her father that it has "honestly felt like such a dream to have them at home and I'm just so grateful, obviously, to President Trump, the administration, [Trump pardon czar] Alice Johnson, just everyone within the pardons office." Todd also talked about his reunion with his family. "I don't even know that I felt like it was real at that moment," he said. "And I woke up the first morning, and I was looking around, and I'm like, 'This is real, I'm home.' So I was grateful for our family to all be back in the same room, to be together, to share a meal together, to pray together, and to know that we're still in the fight together." Fox News Digital's Stephanie Giang-Paunon, Christina Dugan Ramirez and Larry Fink contributed to this report. Original article source: Todd and Julie Chrisley to live in this southern state after presidential pardon
Globe and Mail
3 days ago
- Business
- Globe and Mail
Top Real Estate in Los Altos, CA Achieves Multiple Overs, Through Strategic Home Prep and Targeted Marketing
Los Altos, CA - In today's highly competitive Silicon Valley housing market, Michael Sutton, a top Los Altos Real Estate Agent, continues to raise the bar. Leveraging smart home preparation, innovative digital marketing, and deep local expertise, Sutton recently secured multiple offers (each above asking price) on a home that, just three weeks prior, was in original condition. This sale demonstrates the powerful impact of focused preparation and strategic exposure. Sutton's approach goes far beyond traditional real estate tactics. His success lies in identifying cost-effective improvements that resonate with today's buyers – maximizing return on investment. Coupled with high-impact photography, home video, and targeted online marketing, Sutton creates the perfect combination that drives buyer interest and results. In this recent case, the home was transformed in just three weeks with a modest investment, generating five strong offers and ultimately selling for $1,500,000 – more than six times the sellers' upgrade budget. Based on Sutton's expert guidance, the sellers walked away with over $200,000 in added value, proving once again that the right strategy pays off. Known throughout the Bay Area for his deep market expertise, contractor background, and strong relationships with fellow agents, Sutton brings a decisive advantage to every transaction. As a seasoned Realtor in Los Altos and surrounding Silicon Valley communities, he provides buyers with early access to off-market properties and data-driven insights that give them the competitive advantage over the competition and guide them to confident, winning outcomes. To learn more about Michael Sutton and how he can help you achieve your Los Altos real estate goals, visit
Yahoo
3 days ago
- Business
- Yahoo
When refinancing still makes sense despite high mortgage rates
Refinancing in today's current rate environment isn't for everyone, but there are several reasons why it could be for you. People refinance for reasons beyond the rate. These include tapping equity, changing the loan type and removing a co-borrower from the mortgage. Rates aren't expected to drop much in 2025, but there could be pockets where they dip. Borrowers poised to take advantage of these dips could see some savings if they're refinancing from a higher rate. The amount of mortgage refinances has drastically slowed since the low rates of 2020 through 2022. The 30-year mortgage rate has hovered in the high-6 percent and low-7 percent range since 2023, according to Bankrate's weekly survey, with periodic crests and falls. It's likely that rates will stay stuck in this range for most of 2025, say experts surveyed by Bankrate. Yet, there are still reasons where it might make sense for you to refinance now. Let's dig into them. For most mortgage holders, refinancing right now would not lead to a lower mortgage rate. Over 84 percent of mortgage holders have a rate below 6 percent, according to a report from As a rule of thumb, you want to refinance to a rate that's at least 1 percent lower than your current rate. That's because refinancing isn't free — you'll pay closing costs, and with a 1 percent drop in your rate, it can still take one to three years to break even. For example, say you had a remaining loan balance of $390,000, and you were charged a 1 percent origination fee along with another $1,000 in closing costs. You also paid one mortgage point. At that rate, it would take you approximately 20 months to break even. As of May 28, the average rate on a 30-year purchase mortgage was 6.94 percent, according to Bankrate's weekly survey. That means you'd ideally want to refinance to a rate of 5.94 percent or below — a rate we haven't seen since 2022. Even though rates aren't dropping below 6 percent in the short-term, there may still be reasons to refinance. For instance, if you got a mortgage when rates were closer to 8 percent, like at the tail end of 2023, a refinance now could save you money. Refinancing isn't a one-size-fits-all thing. For many people, refinancing may not be a clear-cut, lower-rate decision. Here are a few examples of when refinancing in a high-rate environment might make sense. Along with overall market factors, interest rates are determined by your own personal finances. Your credit score and debt-to-income (DTI) ratio are going to impact how favorable of a rate you get. Let's say you got a mortgage at the tale end of 2022, when rates were reaching a high point, and put 5 percent down. Your credit score at the time was 650, and you had a DTI ratio of 36 percent. Because of your finances, you landed a mortgage with an interest rate of 7.35 percent. However, since then, let's say you've managed to pay down your debt and build your credit score to 750. If you're able to secure a mortgage at 6.5 percent or below, especially if you plan to stay in the home long-term, you could refinance to lower your payment. Refinancing to a different loan type may be beneficial, even if the rate isn't that much lower than what you're paying now. For instance, if you have an FHA loan, you may be paying an annual mortgage insurance premium (MIP) on top of your mortgage payment. Depending on how much the mortgage insurance is, refinancing may be beneficial to remove it. Similarly, if you have an adjustable-rate mortgage (ARM) and the introductory rate is about to end, refinancing to a fixed-rate mortgage could make your payments more affordable and more predictable. In 2020, over one million ARMs were originated, according to Home Mortgage Disclosure Act (HMDA) data. Once the intro period ends on an ARM (which usually ranges from three to 10 years), they switch to a variable rate that is often higher than the current fixed mortgage rate. This makes refinancing before the intro rate ends an appealing move. If you share a mortgage with someone else, and you need to remove them, you may want to refinance. This is pretty common when married couples get divorced. You may need to buy out the other borrower, which could be done through tapping equity when refinancing. However, it's important to know that there's a difference between removing someone from the mortgage and removing their ownership rights. You can remove a co-borrower by refinancing, but you'll still need to file a quitclaim deed to negate their ownership rights. Your home is an asset that you can tap to pay for major expenses. College tuition, home improvements, medical care — these are just a few common reasons people refinance to tap their home equity. But why would you opt for a cash-out refinance versus getting a home equity line of credit (HELOC) or home equity loan? First off, refinance rates are lower than HELOCs or home equity loans. The catch is that you'd be replacing your primary mortgage with a new mortgage that could have a higher rate. This isn't as much of a big deal if you're towards the end of your primary mortgage term or if your home is paid off. Before you opt to refinance in the current rate environment, you need to ask yourself some questions to determine your goals: What's your break-even timeline? If you're trying to refinance to lower your payment, you need to know how long it will take to realize the savings after closing costs. How long do you plan to own your home? You'll want to stay in the home long enough to break-even and realize savings from refinancing. Do you plan to refinance again if rates drop? Ask yourself — what if rates fall further in 2026 or 2027? Will you be willing to refinance again? Would tapping equity with a HELOC or home equity loan be better? If you want to cash in on your home's equity, ask yourself what the best option is. Would you prefer to refinance and replace your current rate, or would it be better to keep your current primary mortgage and get a second lien? Should you buy points? Mortgage points help lower your rate further, but you have to pay for them. This increases your break-even time, but will result in you paying less interest overall. However, if you decide to refinance again or sell the house, you may not see as much of a savings from buying points as you hoped.
