“A limited inventory of homes on the market, combined with the extremely low cost of mortgage financing, has resulted in homes selling above asking price in many western markets,” according to ZipRealty’s CEO and president.
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The housing market is in recovery mode, but overall activity still remains near historic lows, according to the mortgage giant.
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Qualifying for a loan isn’t easy for most borrowers nowadays, but it’s particularly difficult for vacation-home buyers.
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Some states are still dealing with large numbers of foreclosures. Find out which ones have the highest foreclosure rates in the nation.
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Fixed-rate mortgages stayed mostly flat this week, remaining near their record lows and continuing to support housing demand.
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The housing recovery is still in its early stages, but some market watchers warn home prices could overheat because the pool of existing residences is contracting.
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