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Schmidt Mortgage Company Blog

Builder confidence for 55+ housing market hits record high

baby boomers looking at computer

The market for single-family homes designed for people 55 and older reached a new high in the fourth quarter of 2017. Builder confidence in the 55+ market hit a level of 71, up 12 points from the previous quarter, according to the National Association of Home Builders’ (NAHB) 55+ Housing Market Index (HMI) released February 1. This is the highest reading since the inception of the index in 2008. Worth noting is the fact that the fourth quarter’s record high was pushed largely by strong demand and not necessarily sales.  Chuck Ellison, chairman of NAHB’s 55+ Housing Industry Council and Vice President-Land

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Home Construction Up 9.7% in January

More homes were built in the first month of January, starting 2018 on an optimistic note for economic growth and real estate prices. The number of new housing units being constructed rose 9.7% in January from the previous month to an annual rate of 1.326 million, the U.S. Census Bureau/ U.S. Department of Commerce announced February 16. This marked the third increase in four months. The report indicated that builders are also planning to increase construction activity later this year. Permits to build increased 7.4% in January to an annual pace of 1.396 million. Even with this optimistic trend, economists say the

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3 Things You Might Not Know About Short Sales

Thinking of buying a home? Want to find a bargain? Short sales may be worth considering, but only if you can handle this real estate transaction’s unique challenges. Before you fall in love with a short sale and start working on an offer, take some time to familiarize yourself with the following lesser-known aspects of buying a short sale. 1.) Short sales aren’t always priced at a deep discount. (And sale price is subject to the seller’s lender’s approval) Short sale properties are homes listed at a discount, typically as a last resort method of avoiding a foreclosure situation. For

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Akron

1953 Englewood Ave.
Akron, OH 44312
Phone: (330) 798-4677
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20545 Center Ridge Road
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Rocky River, OH 44116
Phone: (440) 356-3242
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35104 Euclid Ave.
Suite 202
Willoughby, OH 44094
Phone: (440) 953-0447
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