Yajnesh Rai

10 States With Highest Property Tax Rates | Realtor Magazine

The average annual property tax in the U.S. was $3,296 in 2016, with an effective tax rate of 1.15 percent, according to a new report released by ATTOM Data Solutions. The report encompasses a 2016 property tax analysis of more than 84 million single-family homes.

The effective tax rate, according to ATTOM Data Solutions, is the average annual property tax expressed as a percentage of the average estimated market value of homes in a geographic area. ATTOM Data Solutions identified the following 10 states as having the highest effective property tax rates in 2016:

1. New Jersey: 2.31 percent
2. Illinois: 2.13 percent
3. Texas: 2.06 percent
4. New Hampshire: 2.03 percent
5. Vermont: 2.02 percent
6. Connecticut: 2 percent
7. Pennsylvania: 1.89 percent
8. New York: 1.88 percent
9. Ohio: 1.68 percent
10. Rhode Island: 1.64 percent

“Ohio, in recent history, has among the highest average property taxes in the nation, even though housing is among the most affordable,” says Matthew Watercutter, senior regional vice president and broker of record for HER, REALTORS®, in Dayton, Ohio. “Typically, the more populated urban and suburban counties have a higher effective tax rate than their more rural counterparts. This issue affects the affordability of housing, as property taxes do affect the ratios for potential buyers. By continually raising property taxes to support schools, as well as other infrastructure in lieu of other funding sources such as sales tax—which generates revenues from property owners as well as non-property owners—property taxes limit a buyer’s ability to purchase as well as the property’s ability to appreciate in value.”

Among the 217 metro areas with populations of at least 200,000, ATTOM Data Solutions reported these areas as having the highest effective property tax rates:

1. Binghamton, N.Y.: 3.10 percent
2. Rochester, N.Y.: 2.99 percent
3. Rockford, Ill.: 2.96 percent
4. Atlantic City, N.J.: 2.77 percent
5. Syracuse, N.Y.: 2.67 percent

First-Time Home Buyer Checklist: Have You Done Them All? | realtor.com®

Think you’re ready to buy your first home? Congrats! That’s a big step—and one where it’s wise to know for sure you’ve got all your ducks in a row first. To help you figure that out, here’s an all-in-one first-time home buyer checklist with everything you should make sure you have covered before you set off on your hunt—or, if not, consider this a prime opportunity to get started.

Step No. 1: Find a real estate agent

Most rookie home buyers begin their house search online by browsing listings, says Linda Sanderfoot, a real estate agent at Coldwell Banker in Neenah, WI. She says that’s a mistake for a couple of reasons.

First, you might be looking at homes that are outside your price range—and “you don’t want to fall in love with a home that you can’t afford,” says Sanderfoot. More important: You’re embarking on this quest on your own when you should be letting a seasoned professional guide you through every step of the home-buying process. Bonus: It’s no cost to you as a buyer to use an agent, so you’re getting free advice by using a real estate agent—no strings attached.

 

You can research real estate agents in your area on websites like ours. Make sure to scrutinize agent reviews—paying close attention to years of experience, number of homes sold, and what neighborhoods the agent specializes in.

Sanderfoot recommends interviewing two to three agents before signing a representation agreement with one.

Step No. 2: Talk to a mortgage lender

Although some experts recommend buyers do this before finding a real estate agent, there’s a significant benefit to talking to an agent first: “You need to shop for a lender locally, and real estate agents know which local lenders are trustworthy and which aren’t,” Sanderfoot says.

Therefore, ask your agent for two to three lender recommendations. Talking to multiple lenders will enable you to fully assess your financing options with no obligation to pick until you’ve found one that’s right.

The goal is to get pre-approved for a home loan. To do that, you’ll need to provide the lender with a significant amount of paperwork, including bank statements, pay stubs, W-2 forms, 1099 forms, and tax returns. If the lender decides to offer you pre-approval, you’ll receive an estimate of what size loan you would qualify for and approximately what interest rate you’d get.

Pre-approval is typically good for 90 to 120 days; however, “it’s easy to renew it if the borrower’s financial picture doesn’t change,” says Richard Redmond, broker associate at ACM Investor Services, a private lender in Larkspur, CA, and author of “Mortgages: The Insider’s Guide.”

A good mortgage lender will also be able to help you determine which type of loan is right for you.

Step No. 3: Improve your credit, if needed

When you meet with a mortgage lender, the lender will pull your credit score. Although a perfect credit score is 850, all scores 760 and above are considered to be in the best credit score range—meaning you would qualify for the most competitive interest rates. (For comparison, a good credit score is from 700 to 759, a fair score is from 650 to 699, and a score of 300 to 649 is considered poor.) Your credit score is calculated based on a number of factors, including your debt payment history, debt-to-credit utilization, and length of credit history.

If you find that your credit score is subpar, you may be able to take steps to boost your score. Just keep in mind that you won’t improve a credit score overnight. Indeed, you may need to postpone your house search for a few months in order to mend your credit.

Step No. 4: Determine where you want to live

To focus your house hunt, you’ll need to decide where you want to settle down. If you don’t have your heart set on a particular neighborhood, think about what areas are best suited for your commuting needs, school requirements, proximity to family and friends, and overall lifestyle.

“What do you do at night? What do you do on the weekend? Your habits can help you determine where you should live,” says Sanderfoot.

Need help digging up information? At realtor.com/local, you can enter a town, neighborhood, or ZIP code to find out more about the area, like the median home price and quality of public schools.

Step No. 5: Don’t damage your credit

When you’re in the process of buying a home, you need to walk the straight and narrow with your finances. Why? Because your loan doesn’t get fully approved until it goes through underwriting—which could take place just a few days before closing. To keep your credit score stable, you’ll want to avoid taking on new debt (e.g., getting an auto loan), opening new credit cards, neglecting student loan payments, or falling behind on credit card payments.

Mortgage Rates Surprise By Nearing 2017 Low | Realtor Magazine

The 30-year fixed-rate mortgage dropped lower for the third consecutive week and neared its low for 2017, Freddie Mac reports in its weekly mortgage market survey.

“The 10-year Treasury yield was relatively unchanged this week, while the 30-year mortgage rate fell 4 basis points to 4.1 percent,” says Sean Becketti, Freddie Mac’s chief economist. “After three straight weeks of declines, the 30-year mortgage rate is now barely above the 2017 low. Next week’s survey rate may be determined by Friday’s employment report and whether or not it can sustain the strength from earlier this year.”

Freddie Mac reported the following national averages with mortgage rates for the week ending April 6:

• 30-year fixed-rate mortgages: averaged 4.10 percent, with an average 0.5 point, falling from last week’s 4.14 percent average. Last year at this time, 30-year rates averaged 3.59 percent.
• 15-year fixed-rate mortgages: averaged 3.36 percent, with an average 0.5 point, dropping from last week’s 3.39 percent average. A year ago, 15-year rates averaged 2.88 percent.
• 5-year hybrid adjustable-rate mortgages: averaged 3.19 percent, with an average 0.4 point, rising from last week’s 3.18 percent average. A year ago, 5-year ARMs averaged 2.82 percent.

Townhomes Are Having a Moment Again | Realtor Magazine

Townhomes are now the fastest-growing segment of the single-family housing construction market, according to the National Association of Home Builders. Construction of townhomes surged 17.8 percent from 2014 to 2015. That is compared to a 10 percent increase of construction of detached single-family homes and a 12.1 percent increase in co-op, condo, and apartment construction in that time period.

Last year, townhomes comprised about 12.4 percent of all new construction in the single-family home market, according to U.S. Census Bureau data.

First-time buyers are being drawn to these rows of attached single-family homes. About a quarter of current homeowners or potential buyers say they plan to buy a townhouse this year, according to a survey conducted by realtor.com®. That made townhomes the most popular form of housing, after detached single-family homes.

Townhomes and row homes tend to sell for much less than detached single-family homes. The median price for a townhouse was $198,000 in September, about 12 percent less than detached single-family homes, according to data from realtor.com®.

“Townhouses are indeed the affordable solution to expensive land in more and more urban areas,” says Jonathan Smoke, realtor.com®’s chief economist. “For many people, it can be the most affordable way to buy a home and to get into a more desirable neighborhood…They should be gaining in popularity as [more] people realize they’re more affordable alternatives to renting.”

Plus, there’s plenty of appeal to these types of home, which tend to be located in trendier, more walkable areas near good schools, retail, and employment and transit centers, Smoke says. Townhomes also don’t tend to carry a lot of outdoor maintenance for homeowners who are looking for less yard work.

Builders tend to like townhouses too, since they occupy less space than detached homes, which allows builders to construct more of them on smaller lots, notes Robert Dietz, NAHB’s chief economist.

Have Rents Finally Hit the Peak? | Realtor Magazine

The pace of rising rents is slowing in many of the priciest markets and is now spreading to other parts of the country. That’s good news for renters, especially those who are looking to save more to buy a house one day.

Rents nudged up by 0.4 percent from February to March, according to data from Apartment List. Data from Abodo shows rents increased only 0.2 percent on one-bedroom apartments from March to April.

“There’s a large number of new apartment buildings and units which are now available,” says Sam Radbil, spokesman for Abodo. The added inventory “means prices are going to come down.”

There were about 285,000 more rental units available in 2016 than 2015.

“Oftentimes, trends like rent price decreases start on the coast or in the large markets, and those tend to trickle down,” Radbil says.

Rents in Silicon Valley’s San Jose, San Francisco, and New York are cooling slightly. Lower rents are now also being seen in the many Midwest and Rust Belt areas, notably Des Moines, Cleveland, and Kansas City, Kan.

In some high-priced markets, renters appear to be hitting the limit of what they’re willing to pay. Real estate pro Shahida Menjabeen with Keller Williams Bay Area Estates in Los Gatos, Calif., says more renters are becoming buyers or moving farther away from the priciest hubs to escape the higher rental costs.

“Two or three years ago, people were willing to pay anything to get into an apartment because there were a limited number,” Menjabeen says. “We already hit the threshold of what people are willing to pay for rents.”

For example, renters are moving from places like San Francisco and heading to Stockton, Calif., about 80 miles away. Median prices have risen in Stockton about 12.5 percent over the past year on two-bedroom apartments, according to Apartment List. Still, a median $1,000, two-bedroom apartment is still less than a quarter of what it would cost in San Francisco.

Also, more renters are leaving Seattle and heading to Tacoma, Wash., about an hour away, to find median rents about $1,000 cheaper. They’re also heading away from Dallas to Arlington, Texas, about 30 minutes away, where rent is about $750 less, according to Apartment List.

Buying a Home? Do It While Rates Are Still Low – ZING Blog by Quicken Loans | ZING Blog by Quicken Loans

Do you have your eye on that charming two-bedroom ranch? Maybe you’re looking at that four-bedroom colonial with the granite countertops in the kitchen.

No matter your taste, if you’re ready to buy a house, it makes a lot of sense to act as quickly as possible. Although rates aren’t quite as attractive as they’ve been at other times over the past decade, it’s important to realize that they’re still on the low end when looked at in the context of history. You might as well jump on the opportunity while you have the chance.

If you’ve paid even the slightest attention to the advertisements from any mortgage lender, you hear it said all the time that low rates don’t last forever. It may start to sound like a song on constant repeat, but it’s the truth.

We’ll go over why it’s reasonable to expect that mortgage rates will go up somewhat in the near future. Then, for those of you who like doing the math, we’ll talk about what the rate increases could mean in terms of dollars and cents.

Rates Are Low, but It Won’t Last Forever

There are a couple of big factors that have the potential to impact mortgage rates in the coming months and years, in addition to economic data itself. The U.S. central bank plays a key role.

Short-Term Interest Rates

Rates are still very low. Lower interest rates mean consumers can borrow money for things like cars and homes more easily, and all that spending has a positive impact on the economy. It’s also easier for businesses to grow and hire more people.

With that said, the Federal Reserve just raised short-term interest rates for the second time in the last several months. These short-term rates affect the cost for banks to borrow money. Although there isn’t a direct correlation, the longer-term rates given to consumers for things like mortgages and car loans tend to go up as lenders pass on the cost to consumers.

 

Why wouldn’t the Fed choose to keep rates low forever? As it turns out, it’s a bit of a balancing act. If it’s easy to get money, the money you have is no longer worth as much. It can also cause too much growth too fast. This leads to bubbles and wild swings in prices.

The Federal Reserve has signaled its intention to raise interest rates two more times this year. When that happens, mortgage rates could very well go up.

Short-term interest rates are just one of the ways the Fed affects mortgage rates. It also has an impact when it opens up its wallet.

The Fed and the Mortgage Market

The Federal Reserve also purchased a ton of mortgage bonds as a means of helping the economy recover from the most recent recession. We’ve talked at length about how the mortgage market works in other posts, but I’ll briefly summarize here.

When you close your loan, it’s insured by entities like Fannie Mae, Freddie Mac, the FHA or the VA. Once that happens, lenders often package loans with similar characteristics like credit score, down payment or amount of equity, and term length together with other loans in something called a mortgage-backed security (MBS). Making the mortgage bonds available to investors allows the lender to quickly gain more funds to continue to make loans rather than potentially waiting 30 years for a payoff.

The trading of MBS has a direct impact on mortgage rates. When people are in the mood to buy mortgage bonds, mortgage rates are lower because the return on the bonds can be lower. If the economy is doing well and people are in the mood for the riskier but higher yielding stock market, they would likely sell mortgage bonds. Yields, and therefore rates, would have to push higher in order to attract investors.

In order to stimulate the economy, the Fed chose to buy a ton of fixed-rate mortgage bonds in order to keep rates low and encourage people to buy. Since they’ve so far reinvested the returns into new mortgage bonds, they own about $1.77 trillion worth of MBS and are the biggest buyer in the market.

At some point, the Fed is going to sell these bonds in order to give itself a little more flexibility to respond in the event of another recession. Unless several bond buyers pick up where the Fed left off, rates and yields would go up.

Making Sense of Dollars and Cents

We can talk until we’re blue in the face about rates going up, but what does it actually equate to in terms of your pocketbook? To get an idea of the impact of higher rates, let’s take a moment and do the math.

For the purposes of comparison, we’re assuming a $200,000 loan amount on a 30-year mortgage in Michigan. Costs may vary slightly due to regulation depending on where you live. The only thing we’ve changed up in each case is the interest rate. If you’d like to put in your own numbers, check out our amortization calculator.

Depending on the loan you get, rates are currently in the low- to mid-4% range. Let’s start with a rate of 4.375%. On a $200,000 loan amount for a 30-year term, you would have a $998 monthly payment and pay $159,485.48 in interest over the life of the loan.

It’s worth noting that when you’re talking about a home loan, a small rate increase does make a difference. If that rate goes up to 4.5%, the payment increases by $15 per month. Although that may not be a whole lot, it adds up to more than $5,000 worth of extra interest over the life of the loan.

Let’s say rates increase to 5.5%. The monthly payment would be $1,135.58. You would pay $208,808.13 in interest. If rates were to push up to 6%, the mortgage payment would go up by about $60, and there would be another $22,000 increase in the amount of interest you paid.

Of course, you have to make sure you’re ready to buy. Make sure to see if you have room in your budget and get a preapproval, but if you can, it makes a lot of sense to buy now while rates are still pretty low.

If you’re ready to take the leap and get into a new home, you can get a preapproval through Rocket Mortgage today. If you’d prefer to get started over the phone, you can call (888) 980-6716.

Some of this interest rate stuff can be hard to wrap your head around. If you have questions, leave them for us in the comments, and we’ll get you the answers.

Tips to Make the Home Buying Process a Breeze • RealtyBizNews: Real Estate News

Chances are, the roof over your head is the single biggest and most important purchase you will ever make, and certainly the most expensive. Whether you are a young couple looking for their starter home or a recent retiree ready to downsize and find something more appropriate, you should approach the home buying process with the seriousness it deserves. Buying a home is not like buying any other product. For one thing, you could be living with the consequences of your choice for the next 30 years, the amount of time it will take you to pay off the mortgage. For another thing, the average price of a new home is well into the six figures, so you will be putting a great deal of your own money on the line. Before you can find the home of your dreams, you need to prepare yourself, and your bank account. Here are some tips to get you started.

 

Credit
Before you call a real estate agent or attend a single open house, you need to make sure lenders will like what they see when they look at your credit. If you already know your credit score, you are one step ahead of the process. If not, finding that score should be your first course of action. You can download it for free from any of the major creditors. Once you know your credit score, there are things you can do to improve your standing. From paying down debt to reducing your credit card use, the actions you take now can make buying a home easier.

Mortgage
With your credit as good as it can be, it is time to get pre-approved for a mortgage. Unless you are independently wealthy, buying a home will mean taking out a mortgage, and getting pre-approved will give you one less thing to worry about. A pre-approval letter can also give you extra negotiating power when it comes time to make an offer. When fielding multiple offers, the seller may gravitate to the one with the guaranteed financing, and that can be good news for you.

Agent
Finding a real estate agent you can trust will also factor heavily into your success, so seek out a professional who understands the neighborhood where you want to live. Focusing on neighborhood expertise is very important since buying into an up-and-coming location can give you additional appreciation down the line. Denver real estate attorney, Don Eby says having an agent with law experience can help you make a more informed decision as well.

Review
Last but not least, you need to protect yourself with the right advice. Before the offer has been made and accepted, it is important to have a professional review the paperwork. Hiring an attorney to review the contract and other documents is an essential part of the home buying process, and one that will make your life easier now and for 30 years to come.

Make sure you know how to make your first home purchase and do the simple tips here to make the whole thing a little more manageable.

How to Avoid Buying the Wrong Home in a Hot Market

Many homebuyers are finding themselves in an unusual situation this spring: They have enough money and are preapproved for a mortgage, but can they actually secure a house?

The number of homes for sale in February fell for the 21st straight month compared with the previous year, with only a 3.8-month supply at the current sales pace, according to data from the National Association of Realtors. A six-month supply is considered a balanced market. The supply of homes for sale is even tighter at the lower price ranges.

That creates a major challenge for homebuyers, especially first-timers. If a prospective buyer isn’t careful, he could end up jumping at anything just to get a house, only to realize later that he bought a home that’s not right for his family.

“I feel that a lot of my purpose in the search process is making sure they don’t buy the wrong house,” says Dawn Rae, broker-owner of Florida Buyers’ Advocate in St. Petersburg, Florida. “If you can’t trust the person who is guiding you, you could buy the wrong house.”

Rae, who is the president of the National Association of Exclusive Buyer Agents, says the advice of a good agent who represents your interests is especially important in today’s tight housing market.

Her first recommendation for prospective buyers is to do significant research before they view homes. That includes deciding what features they want, what they can reasonably expect to get for their budget and what neighborhoods are acceptable.

“The more prepared you are, the more enjoyable it will be — and you’ll end up getting a home you’ll enjoy,” says Connie Durnal, a Redfin agent in Dallas.

She advises her clients to get as far along in the mortgage process as they can and write a draft cover letter to the seller so they can prepare a purchase offer quickly. With those issues out of the way, they can focus on choosing the right home.

“By relieving all this pressure, they’re not all wound up. They’re not bounding all over the place,” Durnal says. “It really lets them focus on the home.”

Rather than worrying about the process, prepared buyers can concentrate on whether the house fits their needs: Is it the right neighborhood? Is it the right size? Does the layout work for their lifestyle? By honing in on these issues, buyers are less likely to make a mistake and more ready to move quickly when they find the right home.

“If they have studied the market ahead of time … they will be more confident when they’re there, and they do see something that matches their parameters,” Rae says.

The market is moving quickly, which requires quick decisions from buyers and often submission of an offer as soon as they see a house they want. “The best houses are selling in three to five days, with multiple offers and even bidding wars,” says Victor Quiroz, of Berkshire Hathaway HomeServices California Properties in Southern California. But that doesn’t mean would-be buyers should settle.

[See: 8 Home-Selling Buzzwords That Annoy Consumers.]

“There’s always more housing coming to market,” Quiroz says. “Understand there will be more next week.”

Here are eight ways to avoid buying the wrong house in a competitive market.

Work with a trusted agent. Using an agent can give buyers an edge because the agent has access to information from the multiple listing service that buyers won’t find online. An agent can also help prospective buyers prepare their strongest offer. Line up your agent at the beginning of your search. If the agent doesn’t want to help you discuss you options before you’re ready to buy, find another agent.

Know what neighborhood you want. Explore and drill down into neighborhoods before you start seriously looking at houses. If schools are important, know the boundaries of the districts you want. Test the commute time from locations you’re considering. Don’t just research online, but also visit and talk to neighbors. Once you’ve chosen the neighborhood, you can narrow the search to the specific house.

Know the market. Know what types and sizes of homes are common in your preferred neighborhoods. This will help you know, when you see a listing or tour a home, whether you can expect a similar home that meets more of your needs to come along later. You also want to know how fast homes are selling, whether they are going for over asking price and what the sale price per square foot is, though your agent can help you with the numbers.

How rising interest rates could affect homeowners | Saturday Business | columbiatribune.com

These days, all potential homebuyers are thinking about rising interest rates.

Why? Because, the Federal Open Market Committee, or FOMC, just voted to raise short-term interest rates in early March, and the market is anticipating additional increases in 2017 and 2018.

It is important to understand that longer term mortgage interest rates are not directly set by the FOMC, but they are indirectly affected by the decisions of the committee members, who are members of the Federal Reserve Banks.

 

The goal of the Federal Reserve System is to manage monetary policy, creating an equilibrium of supply and demand that signals a healthy economy and market stability. They want to avoid significant inflation or deflation by setting targets and taking action on short-term interest rates to promote stable prices.

These short-term rate changes are much more likely to impact you through higher credit card interest rates, car loan interest rates and the prices of other goods and services. What should you be considering in this raising rate environment?

One of the most important factors is how long you intend to own a home. Most home buyers in our local market will either move up to a larger home or move away within the first five to seven years. Many prospective home buyers do not realize that an adjustable rate mortgage might offer them a pretty significant initial savings over a long-term fixed rate mortgage loan. That may seem counterintuitive in a rising rate environment but it can be a great choice if you know you’re not going to be in your home long term.

 

If you own a home already and previously locked into a long-term fixed rate mortgage, there are several other ways that an increase in short-term interest rates can affect you. If you have a home equity line of credit, it is usually tied to the published Wall Street Journal prime rate, which is directly impacted by the movements that the Federal Reserve is projecting.

The most important thing to remember is that, even with these rising rates, mortgage rates are still incredibly low. Just like any major financial decision, financing your new home is one that should be researched and customized to fit your unique situation and budget. I highly recommend you figure that part of the equation out with a local lender before you even start shopping.

Deborah Graves is a senior vice president at Central Bank of Boone County, where she manages the mortgage loan department. She has been with the bank for more than 20 years.

3 House-Hunting Tips for Car Owners | Realtor Magazine

In all the hustle and bustle of searching for a new home, it’s easy for your clients to overlook how and where their car is going to live. But there are important factors for house-hunters to consider when it comes to their vehicles—namely those related to safety, security, and convenience—that may impact how they feel about potential homes or neighborhoods.

Here are three handy tips you can share with buyers that have cars so they can get the most out of their new place.

1. Make sure the parking situation works.

Whether a home’s parking space is in a private garage, a residential parking garage, a carport, or simply on the street, it’s always a good idea to know where the car will spend its down time. Private garages usually offer the most security when it comes to protecting against car thieves and bad weather, while carports and some parking garages are more open to the elements.

If street parking is the only option, keep in mind that a car’s at a significantly higher risk of getting damaged—whether it’s dings from other cars, vandalism or theft, or broken glass and storm damage. Taking preventive measures (like installing antitheft systems and covering your car while it’s parked, for instance) can do a lot in the way of safeguarding a vehicle from both cosmetic and more serious damage.

And if street parking is a must, be sure to ask about any necessary parking permits and what their prices and conditions are. Know which days the street sweepers come by so tickets and fines can be avoided. Have your clients get familiar with the neighborhood so you can more easily identify alternate (and the most convenient) places to park if your usual options fall through.

2. See what the commute would be like.

While house hunting, it’s important to take note of possible routes both to and from the workplace. Does the house require taking strictly local streets to work or does it have freeway access to help make things simpler? And even if the house does have the convenience of a freeway commute, be mindful of the severity of rush hour in that area.

Pro tip: Get to know the gas stations on the way to work and other highly frequented places like the grocery store, school, and dry cleaner. It’s useful to know where the nearest station is when running low on fuel and to see which locations tend to offer the best gas prices. Your buyers can plug their new ZIP code into the Fuelcaster gas price predictor tool to find the best bargains in the area.

3. Get a car insurance quote for the neighborhood.

Before moving, it’s wise to get a few car insurance quotes with the potential address. Sound a bit strange? It can actually be really insightful, especially if the premium increases or drops significantly regardless of insurer. Car insurance rates are affected by a number of factors, one of them being the garaging address.

If the new neighborhood has a higher auto theft rate, you could see higher car insurance premiums due to the increased risk. Likewise, if your clients are moving away from an area with higher crime or crash frequency or if their new home has a garage, they could see their rates go down. Essentially, getting car insurance quotes can tell them a little bit about the area they’re considering moving to.

They’ll need to contact their insurer anyway, and once they’ve decided on a home, it’s smart to ensure they have the right coverage and limits in place to properly protect their vehicles.