According to the latest Housing Opportunities and Market Experience Survey conducted by the National Association of Realtors (NAR), homeowners agree that it’s a great time to sell a house. More specifically, 71 percent of respondents agree that it’s a good time to sell, which is a significant increase from last quarter’s 69 percent and last year’s 61 percent.
As a borrower, there are several important steps to be aware of when it comes to the home buying process. First and foremost, you should know that the process does not solely consist of finding the house of your dreams, making an offer, and moving in shortly after. Sure, you can find a home and make an offer, but that bid is actually only the first step of the closing process. There are several additional steps to take before that offer becomes an official sale. Throughout this time period, the house sale is known as “pending” or “under contract”.
Throughout the past couple of years, real estate scams have steadily risen throughout the country. With such extensive practice targeting real estate professionals, cybercriminals have perfected their phishing strategies within the industry. Their tactics now range from successfully impersonating real estate agents and title companies to hacking consumer email accounts and inquiring about future real estate transactions.
According to a recent survey conducted by the National Association of Realtors (NAR), over 75 percent of respondents believe homeownership is a significant part of their American dream. The survey also highlighted that one of the most common inhibitors to making this dream a reality was affordability, as many don’t think their incomes will cover their mortgage payments—but you don’t actually need to be making the big bucks to buy a home these days!