Buydowns, rate lock fees can be powerful negotiation tools
In this high-interest rate, low-inventory environment, creative financing tactics can help agents and their clients seal the deal.
July 7, 2023
Dave Gallagher
Director, News Reporting
Dave's journalism career spans 24 years covering business, the economy and real estate in Northwest Washington. He's also a numbers nerd, examining data to spot emerging trends in industries. Having started his career as a sports writer, he's a lifelong baseball and soccer fan and recently discovered pickleball. He grew up in Yosemite National Park and earned his journalism degree at Humboldt State University in northern California.
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- Mortgage rates reach a new high for 2023At 6.81%, the weekly average for a 30-year fixed-rate mortgage is the highest level seen since last fall, when rates spiked above 7%.July 6, 2023
- Housing market's 'about face' upended expectations for 2023Inventory levels aren't following their typical pattern, reversing predictions for the second half of the year.July 1, 2023
- 'Mounting pressure' on industry as MLS agrees to settle commission suitMLS PIN has agreed to pay $3 million and stop requiring sellers to offer buyer-broker compensation, a practice at the core of two other major lawsuits.Updated July 11, 2023
- Hanna CEO chooses 'disruptive' path to retain listing controlHoby Hanna recently made waves by pulling listings from IDX — a move that effectively keeps Howard Hanna Real Estate listings off of competitors’ websites.June 30, 2023
- Mortgage rates tick up as economy continues to show strengthThe 30-year fixed-rate mortgage averaged 6.71% this week, snapping three straight weeks of declines.June 29, 2023
- Zillow shutters closing and title divisionIn an email to clients, the company announced it is ending Zillow Closing Services because it isn’t the “tech-forward and integrated product” customers need.June 28, 2023
- It’s a good time to be selling (and buying) new homesNew home sales are up 20% year-over-year, according to the U.S. Census Bureau, and lower median prices could help first-time buyers.June 27, 2023
- Home prices are on the reboundThe latest Case-Shiller Index found that after falling in the second half of 2022, home prices have been trending up since January.June 27, 2023
- Want more pizzazz in your listing? Zillow's latest tool aims to deliverListing Showcase, a ShowingTime+ product, is designed to provide a more "immersive" experience for buyers and give listings agents an edge.June 27, 2023
- New platform allows agents to add hyperlocal data to websitesNeighborhood Navigator, created by property data company ATTOM, gives real estate professionals a new way to provide clients with detailed community info.June 26, 2023
- California 'engineered' its housing crisis — now it's trying to fix itState Senator Scott Wiener blames California's housing woes on decades of "terrible policy decisions," but he says legislation can help turn things around.June 25, 2023
- Homeownership, affordability gaps persist as prices remain highHarvard's annual housing report found little change in the racial homeownership gap as prices rise and supply stagnates, but federal programs may help.June 23, 2023
- Little movement in mortgage rates signals a slow summerRates dipped only slightly this week in Freddie Mac's survey, inching down from 6.69% to 6.67%.Updated July 5, 2023
- Revised forecast a sign that spring was more showers than flowersRealtor.com previously predicted home prices would rise 5.4% by the end of 2023 but now expects a 0.6% decline.June 22, 2023
- Nearly 1 million new homes are in the pipelineSingle-family housing starts hit an annualized rate of 997,000 in May, up significantly from earlier this spring but still down year-over-year.June 20, 2023
- Lose the white paint — the mood of the day is grayThe latest paint color analysis from Zillow finds that buyers are willing to pay more for a home with dark gray and earth-tone walls.June 20, 2023
- Homeownership on the rise for lower-income householdsThe percentage of below-median income households that own a home has climbed significantly, hitting 53% in the first quarter of 2023.June 17, 2023
- 'What-if' scenarios in the commissions lawsuits, and how to prepare for themAs several buyer agent compensation cases work their way through the court system, it’s time for brokers and agents to come up with a plan.June 16, 2023
- Mortgage rates hold relatively steady after inflation reportThe 30-year fixed-rate mortgage averaged 6.69% this week in the Freddie Mac Survey, down just a hair from last week’s 6.71%.June 15, 2023
