We will be closed Monday, September 7th in observance of the Labor Day holiday. Have a fun and safe weekend!
Everything you need to know about the title commitment! Contact your Escrow Officer to learn more. https://www.gofirstam.com/resources/real-estate-agents/what-to-look-for-on-the-title-commitment.html
Title Commitments have 3 categories of information that need to be reviewed, Schedule A, Schedule B-1, and Schedule B-2. Learn more to know what you should be looking for on the title commitment. https://www.gofirstam.com/resources/real-estate-agents/what-to-look-for-on-the-title-commitment.html
Last week, CoreLogic released their latest Homeowner Equity Insights Report, which reveals the surge in wealth created over the last twelve months through increased home equity. The report makes five key points:
Roughly 38% of all homes are mortgage-free
The average equity gain of mortgaged homes in the last year was $26,300
The current average equity of mortgaged homes is greater than $200,000
There was a 16.9% increase in total homeowner equity
Total homeowner equity reached over $1.5 trillion
If you're thinking of becoming a homebuyer this year, work with a real estate professional and get your homebuyer's guide at gofirstam.com
Source: https://bit.ly/3eS6YVY
https://youtu.be/mfriLmiIPgU
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First American Title Company - New Website
Right now, renovations may not be as vital as once were. Here are two things to keep in mind if you’re thinking of selling this season.
1. Homes for sale are in short-supply
Your best move: Work with a real estate advisor and decide which improvements are necessary, what projects will maximize your listing, and which projects aren't worth it.
2. Focus on getting a good return on your investment.
You and your real estate agent should discuss the potential return on your investment on renovation projects. Homeowners preparing to sell should avoid investing in big renovations if they won’t make that money back when they sell.
Before you renovate, contact a local real estate professional to see if it’s the best course of action. You may find out that putting your house on the market as-is will help you sell quickly, and it may result in the best return on your investment. Every home is different, but a conversation with your agent is mission-critical to make sure you make the right moves when selling this season.
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Single women bought 9 percent more homes in the fourth quarter of 2020 than a year earlier, compared with only a 5 percent increase in that same timeframe for single men, according to a report from Redfin.
Single women have constituted between 14.8 percent and 16.1 percent of total home purchases nationwide for the past nine years, making up 15.7 percent of buyers in the fourth quarter of 2020.
"Most women who were able to afford homes before the pandemic are likely still able to afford homes, and low mortgage rates — especially at the end of 2020 — have been incentivizing them to buy.”
Redfin also found women tend to purchase less expensive homes than men. The typical home purchased by single women in the fourth quarter cost $294,000, up 15 percent year-over-year. For single men, the cost averaged $310,000, up 17 percent year-over-year, and the price averaged $430,000 for couples, up 15 percent from a year ago. The median monthly mortgage payment for single women was $1,052 in the fourth quarter, compared to $1,125 for single men and $1,535 for couples, according to the report.
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