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Affluent Homebuyers will give up Space for Amenities

The vast majority of luxury homebuyers used an agent, are willing to give up square footage for an amenity they want and wouldn’t live in a home that isn’t tech-friendly, according to a survey commissioned by Better Homes and Gardens Real Estate.

The online survey of 500 affluent homebuyers, conducted by Wakefield Research between May 20 and June 4, also showed that most luxury homebuyers believe homeownership is a more sound investment than the stock market, would rather live in a “smart” home than a “green” home, and would rather have an upgraded home than more square footage.

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Alternative Ways to Come Up With the Down Payment on a Home

Saving Money

To successfully purchase a home today, you will need a down payment of at least 3.5 percent of the purchase price. Gone are the days of no down payment alternatives, down payment assistance and seller-offered programs to come up with the money needed to buy a home. Instead, let’s look at the five ways you can come up with a down payment to seal the deal.

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Smoking Snuffs Out Home Prices

A recent study of real estate agents in Ontario, Canada, found that smoking can reduce a home’s resale value by 20 percent. The study was commissioned by Pfizer Canada, a pharmaceutical manufacturer.

Selling the home can pose quite the challenge too. Eighty-eight percent of the agents surveyed say that it’s more difficult to sell a home where the residents were smokers.

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1113 E Guiberson St, Kent, WA 98030

New Price!

3 bedrooms; 2.5 bathrooms; 2210 square feet

1113 E Guiberson St

It’s true! This lovingly maintained and updated home in desirable Scenic Hill has a view of downtown Seattle, including the Space Needle! The huge wall of windows in the living room overlook the large backyard and provide the view. You will enjoy vaulted ceilings and large, light and bright rooms. This home also features fresh paint, new carpet, floors and designer touches through-out. The bedroom + 3/4 bath downstairs are ideal for guests. The master suite has a walk-in closet and deck access. A must see!

View the detailed listing information and photos…

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Singles Make Up Quarter of All Buyers

More Americans are opting to live alone, with single buyers making up a quarter of all home purchases last year, according to the National Association of REALTORS®. In the U.S., there are 33 million one-person households, and living solo is becoming an international trend, MSN Real Estate reports.

Why are so many living alone? People are marrying later, divorcing more, and living longer, sociologists say.

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What IRS Recognition of Gay Marriage in every state Means for Real Estate

One of the principle legal questions left in the wake of the United States Supreme Court’s decision striking down key portions of the Defense of Marriage Act (United States v. Windsor) was the tax impact it would have on same-sex spouses. That is, would the IRS now recognize the marriages of same-sex spouses who live in any state, or only in those states that legally recognize same-sex marriages?

For example, if a same-sex couple was married in Massachusetts (which recognizes same-sex marriage) but lives in Florida (which does not recognize such marriages), would the IRS consider them married?

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Experts’ Top Home Improvement Projects for a Booming Housing Market

Toolbox

More consumers are dusting off their cordless drills, tape measures and jigsaws, or at least are shelling out for paint, spackle or flooring products. Home remodeling is on an upswing, according to the National Association of the Remodeling Industry. A byproduct of rising home sales during this past year, new homeowners are spending more at big-box stores such as Lowe’s and Home Depot for their DIY projects. Home sellers are also adding to the increased sales at home improvement stores as they spruce up a home before putting it on the market. TV programmers, meanwhile, have been paying attention — and adding new home-improvement series or renewing old ones.

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August Housing Barometer Details Recovery Phase 3

Each month, Trulia’s Housing Barometer charts how quickly the housing market is moving back to “normal.”  They summarize three key housing market indicators: construction starts (Census), existing home sales (NAR), and the delinquency-plus-foreclosure rate (LPS First Look). For each indicator, they compare this month’s data to (1) how bad the numbers got at their worst and (2) their pre-bubble “normal” levels.

In July 2013, all three measures improved: construction starts and existing home sales rose, while the delinquency + foreclosure rate notched downward.

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Second Chance for Foreclosed Home Owners

Home

The Federal Housing Administration is giving some former home owners another shot at home ownership. The FHA sent a letter to mortgage lenders stating that it would offer mortgage insurance to borrowers who once filed for bankruptcy, or who lost their homes through foreclosure or short sale during the recession.

Still, potential borrowers must show they can meet all other FHA requirements and that they are no longer financially constrained. Borrowers also will have to undergo housing counseling and FHA is requiring lenders to verify that at least a year has passed since the foreclosure or “economic event” that caused the foreclosure or bankruptcy.

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All-Cash Deals on the Rise

Money

As mortgage rates creep up and stringent lending standards continue to make it difficult for many home buyers to get loans, all-cash deals are accounting for more and more home sales completed in the U.S.

RealtyTrac data released recently shows that 40 percent of all home sales in July — including single-family homes, co-ops, condos and townhomes — were made without a loan being recorded, up from 35 percent in June and 31 percent in July 2012.

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