Guardian Residential Lending Industry News, May 23-30, 2019

Guardian Residential Lending Industry News, May 16-23, 2019
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In the Know: A Roundup of This Week’s Local and National Real Estate Stories 

Mortgage rates fall, Tacoma is the nation’s hottest housing market and the Brady Bunch house is back…


The 30-year fixed-rate mortgage averaged 3.99% this week (HW, May 30)

Mortgage rates fell below 4% this week to the lowest level since January 2018…



Tacoma, Washington, is the nation’s hottest housing market this spring (Seattle Times, May 24)

After years as an oasis of affordability, Tacoma is rapidly losing its status as a refuge for homebuyers priced out of places like Seattle.

One big reason: those priced-out Seattle homebuyers.

According to a new report by Redfin, the Tacoma metro area has now overtaken Seattle as the hottest housing market in the country in several key measurements.

Among those metrics: 49.7% of homes sold in Tacoma in May went for more than the asking price, compared to 37.8% in Seattle and 23.8% nationally, according to a Redfin analysis of local data from the Multiple Listing Service.



LendingTree: Student loan debt is driving Millennials to buy fixer-upper homes (HW, May 24)

88% of homebuyers with student loan debt consider purchasing a fixer-upper



Case-Shiller: Despite economic growth, home price gains continue to lag (HW, May 28)

Expert says, home prices are rising almost twice as fast as inflation



Priced out of the housing market, more Americans move to the “exurbs” (HW, May 29)

Welcome to the exurbs: remote areas just beyond the more affluent suburbs that have seen a wave of activity from builders and home shoppers.

According to a recent report by the National Association of Home Builders, the exurbs were the only regions that saw an annual increase in single-family permits in the first quarter of 2019.



This is why dropping your list price can earn you a scarlet letter (HW, May 29)

Expert says dropping your home price also reduces its appeal

“Fair or not, buyers judge a home by how many days it has been on the market. A home that has been on the market for more than a few weeks has a scarlet letter on it, and buyers will wonder why no one else wanted to buy it,” Fairweather said. “Dropping the price can help get your home onto the radar of some buyers who are searching for homes priced just below the original price, but you likely won’t be able to regain the appeal of a newly listed home.”



Just For Fun

A very groovy renovation after Brady Bunch house escapes wrecking ball (HGTV)

The iconic home is the star of “A Very Brady Renovation,” an HGTV series showcasing its restoration in two seasons with a total of 20 episodes that are slated to begin airing later this year. If you can’t wait, there are behind-the-scenes short videos, “Building Brady,” already available for viewing on the show’s Facebook page.



Thanks for reading!