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If you’re gearing up to buy a home, there’s a bitter pill you’ll have to be prepared to swallow. You don’t just have to pay for the house itself.

You’ll also need to open your swiftly slimming wallet for a myriad of costs, fees, and taxes—the infamous closing costs. They encompass a wide variety of fees that average between 2% to 7% of your home’s purchase price. So for the purchase of a $400,000 home, your closing costs could add up to anywhere from $8,000 to $28,000. As we said, be prepared.

After the stress of house hunting and the anxiety of the offer, you might feel like you can’t handle yet another hurdle. But closing costs are an inevitable (and unavoidable) part of the purchase process. Happily, there’s often wiggle room—at least on the costs that could be covered by the seller. Learn about what goes into your closing costs—and, even more important, how to whittle them down to size.

Inspection and appraisal fees

You won’t have much luck lowering appraisal fees. The lender selects the appraiser, so you’ll likely be stuck paying their costs without much room to negotiate.

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The numbers: Mortgage demand rose over the past week, despite news of bank closures and an uncertain economic outlook.

Demand for mortgages rose 6.5% in the latest week as rates dropped slightly.

Demand rose for both purchases and refinancing. That pushed the market composite index—a measure of mortgage application volume—up, the Mortgage Bankers Association (MBA) said Wednesday.

The market index rose by 6.5% to 214.5 for the week ending March 10 from a week earlier. A year ago, the index stood at 496.5.

ChatGPT can be a useful tool, but it spits out a lot of bad advice, writes Bernice Ross. In Part Two of the series, find out what seller information the AI gets wrong.

Builder confidence rose 2 points in the latest National Association of Home Builders' Housing Market Index, but economists fear lending challenges in the wake of bank failures this month.

Economists revealed to Intel how mortgage rates and inflation will bring the spring homebuying market back toward historical norms and become the new sales benchmark for years to come.

Coldwell Banker Chief Operating Officer Liz Gehringer told Inman a diversity push is helping grow the company even in a slower market. She also touted the return of international buyers as the pandemic winds down.

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Finally.

You put your signature on the closing paperwork. You’re happy with your loan … well, as happy as you can be, considering the magnitude of the debt you just accepted. Stress dreams have mostly subsided, barring the occasional vision of some movers dropping your grandmother’s curio cabinet, shattering this priceless antique while they run off with your money.

Moving can be a pain in the you-know-what. That’s why we’ll share some expert tips and tricks to make the process as easy and pain-free possible.

Do repairs and painting first

Before moving in, take a trip through your new home with a critical eye. Look for any necessary improvements that can be completed before you bring your stuff in. Is the bedroom wall a nasty shade of taupe? Is the hardwood floor scuffed and dirty? Before your movers start lugging in boxes and placing heavy furniture, get it done.

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Madonna is looking to unload her SoCal property once again, after trying to sell it last year for nearly $26 million.

The nine-bedroom, 11-bath mansion is now available for $23.5 million. Could this lower price be Madge’s magic number?

It would certainly net her a nice profit, as she bought the Hidden Hills, CA, property from fellow pop star Abel Tesfaye, aka The Weeknd, in April 2021 for $19.3 million.

The popular neighborhood is also home to some of the Kardashians and Los Angeles Rams quarterback Matt Stafford.

A three-bedroom house in Houston, a penthouse condominium in Blacksburg and a 1928 Tudor Revival home in Minneapolis.

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Jennifer Lopez and Ben Affleck are reportedly looking at a $64 million mansion in Pacific Palisades, CA.

According to TMZ, the married couple canceled the $34 million purchase of a nearby house and are said to be now considering this larger and pricier one.

This lavish home, which is said to be owned by the Milken family, is still an active listing for sale on Realtor.com®.

The A-listers have been reshuffling their real estate portfolio of late. Just last month, Lopez put her massive Bel-Air spread on the market for $42.5 million. Affleck also let go of his Los Angeles spread last year.

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How much house can you afford? Knowing you want to buy a home is one thing. Knowing how much of a mortgage payment you can handle is quite another.

Too often, dreams and reality collide in an anxiety-producing mess. You yearn for a comfortable four-bedroom Colonial, but given your income and credit card debt, the best monthly loan payment you can manage would get you a two-bedroom bungalow in a sketchy party of town.

So how do you pinpoint a house where your monthly mortgage payment makes sense and won’t drive you deep into debt? Allow us to help you paint your payment profile picture and find that magic number.

Why your mortgage payment depends on your income

Getting a ballpark estimate of how much house you can afford starts with looking at your income, or how much money you’re pulling in.

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Calling all sellers. Do you want a quick home sale at a higher price, even in this troubled real estate market? Then open your calendar to April, uncap a bright yellow marker, and highlight the week of April 16–22. This seven-day stretch was identified by Realtor.com® as the best week to list your home in 2023.

Just how much extra cash can a seller potentially pocket and how fast can a home go from a new listing to the closing table?

During the best week to list, home prices are expected to be $8,400 higher than the typical week—and a whopping $48,000 above early 2023 prices. Real estate listings are expected to receive 16.4% more views than in the typical week.

And while spring is generally considered prime selling season, demand is likely to surge in the third week of April, with homes predicted to move off the market 18% quicker than an average week.

In this quaint Hunterdon County community, ‘everybody is interested in the good things in life.’

In this quaint Hunterdon County community, ‘everybody is interested in the good things in life.’

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