Invesment

Mortgage Rates Driven to Historic Lows by the Coronavirus Amp Up Homebuyer Purchasing Power

Homebuyers in Dallas and Portland, Oregon saw an increase in the share of homes affordable, while those in Phoenix and Las Vegas saw a decrease.

A dramatic drop in mortgage interest rates, driven by coronavirus fears, has given homebuyers a big boost in purchasing power in recent weeks. At the current mortgage interest rate of 3.2%, a homebuyer with a $2,500 monthly mortgage budget could afford to purchase a home priced $51,250 higher than in March of 2019 when rates were 4.4%. Put another way, as a result of the drop in mortgage interest rates, the monthly payment on

Read More

Housing Demand Holding Up Surprisingly Well, For Now

Redfin is publishing this housing-market update as a way to inform our customers, not our investors. We aim to be candid and truthful with our customers about what’s happening in the housing market, especially in uncertain times. For our investors, consistent with our past practices, we’ll report our first quarter results and provide second quarter guidance in May. Even though we’re notifying investors through a government filing about this customer update, we’re not updating, withdrawing, or affirming the first quarter financial guidance we issued on February 12, 2020. No one should try to determine our revenues based on our remarks

Read More

How to Calculate the Square Footage of Your Home – Redfin

A house that sounds roomy and spacious online may actually have 800 of its square feet contained in a four-foot-tall dirt-floor basement. What’s up with that? In Washington DC, clients are often confused at the square footage discrepancy between what’s listed and what they see on tour, and colleagues in other markets hear the same thing.

Why the conflicting information? Well, the American National Standards Institute (ANSI) guidelines on how to calculate a home’s square footage are considered the standard, but there are no official laws that govern this process. In addition, some Multiple Listing Services (MLS) report all

Read More

14 Tax Deductions for Homeowners

There are plenty of perks that come with owning a home, such as the potential to build equity and being able to make the place your own. However, one major advantage of homeownership is it can offer a range of significant tax benefits. Up to certain limits, you’re able to receive tax deductions for mortgage interest, qualifying home improvements, property taxes, and other expenses. 

So, whether you’ve just bought your first home, or you own multiple homes in Los Angeles or San Antonio or both, you may be able to benefit from a variety of deductions this tax season. In

Read More

10 Home Improvement Projects to Tackle Before Moving Into a New House

Congratulations on your new home! We all know that moving into a new house is stressful, and the last thing you probably want to do is add more things to your to-do list. However, it’s actually best to tackle some home improvement projects before all the boxes and furniture get in the way. So if you want to save money, time, and hassle down the road, here are 10 home improvement ideas to consider before making the big move.

1. Change the Locks

First and foremost, it’s important to keep your family and your new home safe. So before moving

Read More