Real Estate News 01/03/2024

Today’s News Synopsis:

Redfin economists expect buyers will take advantage of lower rates and more listings in the new year, after the typical holiday slowdown.

In The News:

Redfin – “Housing Market Update: Declining Mortgage Rates Lure Sellers Off Sidelines, Paving the Way For 2024 Buyers“ (12-21-2023)

“This week’s falling mortgage rates, sizable year-over-year increases in both new listings and listing consults with  Redfin agents, and surge in housing starts all suggest that 2023’s frozen housing market is thawing. Sales are likely to climb after the typical holiday lull. ”

CNBC –  “What is a balloon mortgage and is it right for you?” (12-20-2023)

“Balloon mortgages are short-term home loans that allow borrowers to make small monthly payments — or no payments at all — for several years. After that initial period is over, though, the remaining balance is due in one lump sum.”

Yahoo Finance –  “Americans ramped up spending during the holidays despite some financial anxiety and higher costs” (12-26-2023)

“Year’s end is a good time to take stock of investment-related tax strategies that may have been left on the table.”

CNBC –  “How to plan a home renovation from picking an architect to managing the build” (12-20-2023)

“An architect can help design and scope a large renovation or extension, as well as oversee the building contract.”

ThinkRealty –  “Is 100% Financing An Actual Product?”(12-13-2023)

“The objective of 100% financing is to fund the entire property purchase price and rehab costs without requiring any down payment. This means you keep as much cash in your pocket as possible to invest more in renovation projects or put in the bank.”