Melissa Tracey

1 day ago | nar.realtor | Melissa Tracey

© ChadaYui / iStock / Getty Images Plus A young, first-time home buyer was filled with excitement to finally own a home. She had her offer accepted and secured her loan in the fast-paced, COVID-era, 2020 housing market, when home prices were climbing fast. But on the eve of closing, the $30,000 downpayment she wired vanished. A scammer had intercepted the transaction, impersonated a trusted party and diverted the buyer’s entire life savings. It took two years to recover the money.

6 days ago | nar.realtor | Melissa Tracey

Mortgage applications for home purchases—a gauge of future homebuying activity—were up 13% in the week ending May 2 compared to a year ago, the Mortgage Bankers Association reported Thursday. Mortgage rates have barely budged but home buyers appear to be jumping into the market this spring, despite elevated home prices in most markets.

6 days ago | houselogic.com | Melissa Tracey

Just one inch of water in a home can cause up to $25,000 in damages, according to the Federal Emergency Management Agency. If you’re assuming homeowners insurance will pick up the tab, you may be in for a surprise. Payment for that costly clean-up bill may end up coming out of your wallet. Many homeowners have learned the hard way that standard homeowner, condo, and renter’s insurance policies don’t cover flood damage.

1 week ago | nar.realtor | Melissa Tracey

Ariel Skelley / DigitalVision / Getty Images Homeowners are the clear winners in the housing market, continuing to experience strong appreciation as home prices remain on a steady upward march nationwide. Some markets are still seeing double-digit gains. Syracuse, N.Y., has seen the largest home price increase in the country over the past year—up about 18% annually, according to the National Association of REALTORS®’ latest quarterly report, based on first quarter metro sales data.

1 week ago | houselogic.com | Melissa Tracey

The average household needs a lot of electricity to power up. One little spark in the wrong direction could spell disaster. Each year, electrical fires cause nearly 500 deaths, nearly 1,400 injuries, and $1.3 billion in home damage, according to the Electrical Safety Foundation International. Constant dimming or flickering lights, unusual sizzling or buzzing sounds, or repeatedly tripping circuit breakers are telltale signs of an electrical problem. But some electrical problems are less evident.