
What to know about buying a house with solar panels
It’s an eco-friendly idea, but be aware how it affects your home’s financing, closing and future costs.
Median price is a term used frequently in real estate. Bankrate explains its meaning.
Median price is the middle point for real estate prices. It is not the same as the average price. The median price is the price in the very middle of a data set, with exactly half of the houses priced for less and half priced for more.
Median price is a better indication than average price of a property’s value and the local real estate market. Real estate professionals refer to the median price rather than the average price because it is less affected by outliers or properties that skew the perceived values in a particular housing market. A house that sells for far more or far less than most houses in the area will skew an average price.
Looking at median prices helps a buyer make an educated decision on where and when to buy a house. Rising median prices indicate a seller’s market, while falling median prices indicate a buyer’s market.
Use Bankrate’s calculator to help you determine how much house you can afford to buy.
To find the median price, look for the price in the middle of this list, which is $500,000. In this instance, the median price and the average price of $464,285.71 are not too far apart. Looking at median prices can alert a buyer to properties that are overpriced for the local market.
Have you decided on a home to buy? Check out Bankrate.com’s nationwide lender network to find the best mortgage rates in your area.
It’s an eco-friendly idea, but be aware how it affects your home’s financing, closing and future costs.
Counter-offers are a key part of the homebuying process. Here’s what to know.
They let the sun shine in. But be aware of this new tech’s pros and cons, and how they differ from solar panels.
Don’t spend time or money on things that prospective buyers don’t care about.
Some may surprise you. Here are workarounds, if you’re renovating or building.
You can choose the hard way to add a floor to your home. Or you can pick the harder way.
Home values in San Diego have increased by 19 percent in the last year. Here’s what to know if you’re ready to sell.
Sunny San Diego is a popular — and expensive — place to call home.
In a sobering trend for homeowners, natural disasters like hurricanes and wildfires are becoming more frequent.