Two recently released reports reveal that the American public is starting to feel much better about the U.S. economy.
As all consumers are feeling more optimistic, more young adults are moving out of their parents’ basements and into a residence of their own. The recent Census report shows that new household formations skyrocketed in 2014.
Millions of Americans who lost their homes during the foreclosure crisis are now poised to become homeowners again.
That’s according to a new report from RealtyTrac, which estimates that 7.3 million so-called “boomerang buyers” will return to the U.S. housing market over the next eight years.
Millennials deep down may be suburbanites after all. In recent years, economists and demographers have argued that members of Generation Y will have a longer love for city living in smaller living quarter than their predecessors. But a newly released survey by the National Association of Home Builders discounts that, suggesting that what millennials really want is a single-family home outside of the urban center – just like other generations.
Buying is still more affordable than renting in the majority of U.S. housing markets, according to a new analysis. A study conducted by RealtyTrac factored in 2015 fair market rental data recently released by the U.S. Department for Housing and Urban Development for three-bedroom properties in 543 counties nationwide with populations of at least 100,000. Buying a median-priced home was found to be more affordable than renting a three-bedroom property in 68 percent of the counties tracked.
Overall, in 473 of the counties tracked, the fair market rent for a three-bedroom property in 2015 will require 27 percent of median household income, on average. For comparison, buying a median-priced home will require an average of 25 percent of median household income, based on median sales prices in November, the study found.
Watch this very informative video about Zillow!
First-timers can be eager to jump into home ownership. But real estate experts say they see them committing the same mistakes, time and time again. Here are some of the most common ones, as identified by experts in a recent CNBC article…
With mortgage rates still near historical lows, why aren’t more home owners making a move? Housing analysts blame student loan debt, overly strict lending standards, and lost equity as the leading culprits behind a sluggish housing recovery. But what do home owners say?
Mortgage information site HSH.com surveyed 786 home owners at the end of 2013 about their experiences when it came to finding and financing their home. The top six biggest hurdles to home ownership were identified as…
First-time home buyers have it tough. The supply of homes for sale is tight, and lenders are tightfisted.
Student debt, at an all-time high of nearly $30,000 per grad, is getting in the way of saving for a down payment, says David Stevens, president and CEO of the Mortgage Bankers Association. But it’s a great time to get your foot in the door.
“Interest rates remain the envy of even your grandparents,” says Keith Gumbinger, vice president of mortgage publisher HSH.com. First, make your finances sparkle.
Both parties have to come together in a transaction, and real estate professionals sometimes find themselves wedged in the middle of buyer and seller disagreements. Some sellers may accuse the home buyers of being too pushy with their demands.
Bankrate.com recently highlighted several ways that homebuyers have been annoying some sellers.
The American household has changed – big time. More and more, people get married later in life, if at all. Many even go from married to single and back multiple times throughout their lives. This all means that more and more people are buying homes while single. Many unmarried folks are buying homes to live in on their own, while others are looking for homes to live in with their children, parents or other partners – past, present and future.
If you’re embarking upon the process of buying a home on your own, here are a few things to factor into your thought process and your action plan…
Managing The Real Estate Details 