Author: Scott Gibbons

Families come in all shapes and sizes and with all different kinds of members, and for those that include a pet, finding a place to call home comes with a few more considerations. According to a new report from the National Association of REALTORS®, 81 percent of Americans take their pets into consideration when deciding on their next living situation. In fact, 89 percent of those surveyed said they would not give up their pet because of a housing restriction or limitation. And if a home is not ideal for an animal, one-third of pet owners would not even put in an offer on a home…. Read More
Source: REALTOR News

For many new homeowners the year they buy their own home will also be the first year they do not take the standard deduction when doing their taxes. It can be confusing to know what is eligible for itemization and what is not. Most homeowners will end up itemizing their loan costs and fees, mortgage interest, property taxes and private mortgage insurance. New homeowners should also consider itemizing all of the stuff they donated before moving as a charitable deduction. Many homeowners file their taxes on their own with little outside help, however, if the owner has a home office or their… Read More
Source: REALTOR News

According to NAR’s Profile of Home Buyers and Sellers, 87 percent of non-homeowners believe they need a down payment of 10 percent or more to buy a home. However, the same report shows that the median down payment for first-time buyers has been 6 percent for the last three years. This means renters who believe homeownership to be financially out of reach may have options. Potential buyers should concentrate on improving their credit score and managing their debt level.

Story Springboard:… Read More
Source: REALTOR News

In one of his first acts, President Donald Trump reversed a quarter point decrease in the Federal Housing Administration mortgage insurance premium. The reduction in premiums would have decreased monthly payments for thousands of new, low- and moderate-income borrowers.

NAR President William E. Brown released this statement in response to the reversal: “According to our estimates, roughly 750,000 to 850,000 homebuyers will face higher costs, and 30,000 to 40,000 new homebuyers will be left on the sidelines in 2017 without the cut. We’re disappointed in the decision but… Read More
Source: REALTOR News

As with any profession, REALTORS®, members of the National Association of REALTORS®, are a diverse group; there are members of both sexes, of all generations, and with varying amounts of experience. According to NAR’s 2016 Member Profile, however, there have been shifts in some of these groups. For example, the report shows a drop in REALTOR® median age from 57 last year to 53 this year, the lowest that number has been since 2008 (when the median age was 52). Related to that, the typical REALTOR® reported a median of 10 years of experience in real estate,… Read More
Source: REALTOR News