Wealth passed down from one generation to the next provides financial security for children and grandchildren. Buying a house is one step in the process. NEW YORK – Generational wealth is financial wealth and assets that can be passed down from one generation to the next. Most people plan to pass on their wealth to … Read more
CHERRY HILL, N.J.— Despite lingering concerns around affordability and interest rates, most first-time homebuyers still feel optimistic about the housing market in 2024 and are ready to spend, according to an annual study from TD Bank. With home prices temporarily edging downward following their all-time high in 2023, according to the January Case-Shiller Index, TD’s … Read more
Selling a home before moving into an assisted living facility presents challenges not seen in other moves. Family members can help navigate the process to make it run smoothly. NEW YORK – Families must make a number of important decisions when an aging relative decides the time is right to move into an assisted living … Read more
President Joe Biden called for a $10,000 tax credit for first-time homebuyers and the construction of two million homes during his State of the Union address Thursday. WASHINGTON – President Joe Biden called for legislation that will lower homeownership costs, build millions of new homes nationwide and reduce rental costs. Biden, in his State of … Read more
A property appraisal is needed when mortgage financing is used to buy residential real estate. It acts as a market value reference point for buyers and current owners. KEY BISCAYNE, Fla. – A property appraisal is needed any time mortgage financing is used to purchase residential real estate. Often, an appraisal is ordered and everyone anxiously awaits … Read more
While easing, for-sale inventory remains tight in Florida and across the U.S. Buyers have to stay persistent and manage frustration levels during their home search. MERIDEN, Conn. – Ben Borecki and Raleighe Orszulak-Borecki, both 29, searched for about a year to find their perfect home. They visited over 20 houses and bid on five. Finally, the … Read more
FAU experts: Higher interest rates and less demand for office space are concerns. Businesses and workers moving to Sunbelt states like Fla. make them less vulnerable. BOCA RATON, Fla. – Sinking demand for office space in the commercial real estate market could lead to bank failures in parts of the country, according to two finance … Read more
WASHINGTON – Homeownership rates for racial minorities increased in 2022, with Asian and Hispanic Americans achieving historic peaks. Despite these advancements, disparities persist among racial and ethnic groups, notably with Black homeownership lagging. People of color continue to endure significant buying challenges throughout and after their home purchases, according to a report released today by … Read more
MIAMI – With the cost of homes out of reach for many families, developers in South Florida are now adding annexes to new construction, allowing relatives to live under the same roof. The extra space comes with a room or two and its own kitchen, much like those in-law quarters added to older homes. The built-in apartments … Read more
NEW YORK – In back-to-back months, Mr. Cooper and LoanDepot — two of the nation’s largest mortgage lenders — made headlines for experiencing cyberattacks that exposed the data of more than 30 million people combined. Mortgage lenders haven’t been the only recent targets. Title insurance companies Fidelity National Financial and First American Financial each experienced … Read more
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