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News

24 May 2020

Another Penthouse At One Thousand Museum Has Sold For $11 Million

duPont Registry David Beckham has a new neighbor. An undisclosed New York City buyer purchased an 11,544-square-foot penthouse at the One Thousand Museum tower in Miami, Florida for $11 million. Unit 5301 spans the entire floor with five bedrooms and six and one half bathrooms. Karen Elmir with the Elmir Group, a Cevera Group brokerage firm […]

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23 May 2020

They Hate Their Homes, And They Want Out — NOW!

Inman News Real estate brokers say quarantine has convinced homeowners that they need more rooms, a backyard and plenty of kitchen space — and they want it all now. “I don’t have enough space.” “Now we can hear the neighbors’ every word.” “I need a home office now.” In the wake of being confined to […]

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22 May 2020

Luxury Snapshot: Brokers In High-End Markets Are Staying Busy

Inman News The market hasn’t fully recovered yet, but agents in luxury markets around the US told Inman that deals are still happening and activity appears to be on the rise. When the coronavirus pandemic first hit the U.S., the real estate market in Santa Clara County “went straight off a cliff.” “We knew that it was […]

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22 May 2020

DelPrete: How The Pandemic Has Impacted International Markets

Inman News Evidence suggests that once restrictions are lifted in the hardest-hit markets, new listings rebound quickly. The pandemic affected international real estate markets in strikingly different ways. Markets with stringent lockdowns saw new listings plummet by 90 percent, while other markets saw no change. And as the world begins to recover, the data suggests […]

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22 May 2020

Mortgage Rate Drops To Within One Basis Point Of All-Time Low

HousingWire The average U.S. rate for a 30-year fixed home loan is 3.24%, Freddie Mac says. The average U.S. rate for a 30-year fixed mortgage dropped to within one basis point of an all-time low this week, according to Freddie Mac. The rate fell to 3.24% from 3.28% last week, close to the 3.23% all-time low reached […]

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22 May 2020

Residential Refis Make Up 55% Of Home Loans In First Quarter

Inman News Spurred by historically low interest rates, new refinances made up about $328.5 billion in total dollar volume in Q1, up 105 percent from the same period last year.   Refinance loans comprised 55.7 percent of a total of 1.92 million home loans in the first quarter of 2020, according to Attom Data Solutions’ […]

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21 May 2020

Existing-Home Sales Wane 17.8% In April

National Association of Realtors Existing-home sales dropped in April, continuing what is now a two-month skid in sales brought on by the coronavirus pandemic, according to the National Association of Realtors®. Each of the four major regions experienced a decline in month-over-month and year-over-year sales, with the West seeing the greatest dip in both categories. […]

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21 May 2020

Time On Market Sees Largest Increase In 7 Years

Inman News Homes sat on the market 15 days longer than last year during the week ending May 16, resulting in the greatest increase in time on market since 2013, according to realtor.com. Homes sat on the market 15 days longer than last year during the week ending May 16, resulting in the greatest increase […]

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21 May 2020

Mortgage Rates Decrease

Freddie Mac Freddie Mac today released the results of its Primary Mortgage Market Survey®, showing that the 30-year fixed-rate mortgage (FRM) averaged 3.24 percent. “For the fourth consecutive week, the 30-year fixed-rate mortgage has been below 3.30 percent, giving potential buyers a good reason to continue shopping even amid the pandemic,” said Sam Khater, Freddie Mac’s […]

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20 May 2020

Mortgage Purchases Signal Housing Recovery May Be Here

Inman News Odeta Kushi, the deputy chief economist at First American, said the increase in mortgage applications is part of a long-term trend, not simply pent-up demand. The housing market seems to have calmed back to pre-pandemic levels, at least for now, according to the latest mortgage data released Wednesday by the Mortgage Bankers Association (MBA). The seasonally […]

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