Many sellers hire inspectors and appraisers to value their home prior to placing it on the market. It’s important for buyers to hire their own inspector to get an independent opinion. If a buyer orders an inspection before the sale goes through, the seller may have to resolve any issues that arise. If you forego the inspection, you inherit any problems that come with the house.
Buying a home is one of the most important decisions you can make. There are many decisions involved in choosing the right home from picking a real estate agent, to figuring out what type of home will suit your needs. You want the right sized rooms, a floor plan that fits your family, and certain home features you know you can’t live without.
Last week’s economic news included readings from Case-Shiller Home Price Indices, sales of new homes and pending home sales. FHFA increased maximum loan limits permitted for mortgages held or guaranteed by Fannie Mae and Freddie Mac. Weekly readings for mortgage rates and first-time jobless claims were also released.
The real estate market does not occupy a space outside the laws of physics. As Sir Isaac Newton so aptly theorized, “for every action, there is an equal and opposite reaction.” When applying the English physicist’s Third Law to today’s rising mortgage rates, anticipating the reaction can be valuable information if you are planning to buy or sell a home or commercial property.
Obstacles facing home builders have caught up with high builder confidence according to the National Association of Home Builders Housing Market Index for November. Builder confidence dropped eight points to an index reading of 60, which was the largest month-to-month drop in builder confidence since 2014. November’s decline in builder confidence was greater than the largest month-to-month decline during the housing crisis.