Most buyers want move-in ready, but they’ll have a wider selection with fixer-uppers, and an FHA 203(k) loan can roll upgrade/repair costs into their first mortgage. NEW YORK – When you buy a home, there are usually a few repairs to pay for. Buyers who want to take on a real fixer-upper might be facing … Read more
NAR calls rent caps “putting a Band-Aid on a bleeding artery.” The increase cap could impact about 1 in 4 U.S. units that have Fannie Mae/Freddie Mac-backed mortgages. WASHINGTON – A coalition of 17 senators sent a letter to the Federal Housing Finance Agency (FHFA) on Monday requesting a way to limit rental increases in … Read more
Contrary to national numbers in July, Fla. sentiment fell 2.1 points as residents worried about the U.S. economy and planned to cut back on spending. GAINESVILLE, Fla. – July consumer sentiment among Floridians dropped 2.1 points to 66.8, a drop from a revised figure of 68.9 in June, according to the University of Florida’s monthly … Read more
Robert Matthews will serve 65 months for scamming more than 60 foreign investors between 2012 and 2018, convincing each to invest at least $500K in his projects. BRIDGEPORT, Conn. (AP) – A one-time millionaire real estate developer with past ties to corrupt Connecticut politicians was sentenced to more than five years in prison on Monday … Read more
“We all get along great” isn’t much help if there’s a disagreement about guests, repairs or maintenance. A lawyer can pre-solve problems before issues arise. NEW YORK – Homebuyers purchasing vacation homes with family or friends face unknown risks, such as disputes about guests, repairs and maintenance. It can unravel the arrangement and even lead … Read more
Nationally it’s 13%, but in Fort Lauderdale it’s 28% – the highest in the U.S. In Miami, a first-time buyer needs to earn 25% more than they did a year ago. SEATTLE – A first-time homebuyer must earn roughly $64,500 per year to afford the typical U.S. “starter” home, up 13% ($7,200) from June a … Read more
Homeowners with mortgage rates too low to give up aren’t listing their homes, pushing buyers to the new-home market – an economic boon for builders. NEW YORK – High interest rates are actually making new homes easy to sell by compounding a shortage of available real estate. Existing home sales have slowed because fewer owners … Read more
Why do long-time homeowners rent when they can afford to buy? For more and more older adults, it’s simple: less responsibility with more money to spend. PLACERVILLE, Calif. – Jack called me last week to say he and his wife Jill wanted to sell their home in El Dorado Hills. They have been longtime friends … Read more
Politics can hurt home sales if a neighbor’s yard flag pushes views offensive to a potential buyer – but flags can help if buyers agree. SEATTLE – People buy homes in neighborhoods, and the area surrounding a property listing carries a lot of weight with buyers who hope to fit into their new community. A … Read more
People need a roof over their heads, making “home” a life necessity – and also, on the side, a good investment. As a result, buying sooner is better than later. DAVENPORT, Iowa – For the vast majority of Americans, their home is their greatest lifetime investment. But as in all investing, timing is everything. The … Read more
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