Check the paperwork and read for context. “Non-recourse” is more of a description of how a loan works than a direct term, so it could be described differently. FORT LAUDERDALE, Fla.– Question: We took out a reverse mortgage in 2011 and I thought I understood how it worked. However, having reviewed the documents, I cannot … Read more
Fannie Mae: Homeowners aged 60+ like their homes and expect to age in place. Many feel good about their retirement financial plan and view home equity as a reserve. WASHINGTON – Older homeowners aged 60-plus years like their homes, many view the equity in those homes as a financial reserve, and a significant share are … Read more
HUD and Census Bureau: In Jan., new single-family home sales rose 1.5% month-to-month to a seasonally adjusted rate of 661,000. The pace is up 1.8% from Jan. 2023. WASHINGTON – Sales of new single-family homes in January increased 1.5% to a 661,000 seasonally adjusted annual rate from a downwardly revised reading in December, according to … Read more
Homebuyers say energy-efficient features are home “must-haves” because they save money, improve resale value and help people lead healthier lives. WASHINGTON, Penn. – Consumer efforts to be more eco-conscious are more and more noticeable. For proof of that, one need look no further than the increase in vehicle charging stations. Such stations are more accessible … Read more
More inventory potentially hitting the market paired with stabilizing interest rates allows buyers some breathing room, NEFAR president says. JACKSONVILLE, Fla. – According to Northeast Florida Association of Realtors data, the median price for a single-family home increased over $23,000 between January and December last year, with the median price ending the year at $384,750, … Read more
FAIRFIELD, Ohio — The idea to start a business that converts shipping containers into affordable homes started around a fire pit. Sandra Whitley and Allison Lyons never did light the fire, but the idea first discussed over the summer had been burned into motivation and then became reality. “It started this summer, but it really … Read more
The modest drops in rates may make refinancing more attractive to some homeowners, but others are opting to stay on the sidelines. CHICAGO – After the federal government’s most recent report on inflation showed signs of stabilizing, homeowners with mortgages at high interest rates are among those hoping the lending market will follow suit. While … Read more
Homeowners are increasingly coming to terms with higher interest rates and aren’t waiting to sell, Redfin found. NEW YORK – A growing number of homeowners with low interest rate mortgages aren’t waiting to move until rates have dropped. Rather, they’re increasingly opting to move into new homes and take on higher interest rate mortgages, according … Read more
Active listings in the U.S. climbed 4.9% in December year over year, but for-sale inventory is still below pre-pandemic levels. LOS ANGELES — The recent pullback in mortgage rates is spurring more homeowners to put their homes up for sale, though the increases so far have been too modest to return the housing market’s inventory … Read more
MIAMI – What if state-owned Citizens Property Insurance Corp. became the go-to provider of windstorm coverage for all personal and commercial property owners in Florida who want it? State Rep. Sheldon Roach, who lost his home in Hurricane Ian in September 2022, says it’s an idea worth exploring. “My belief is that Florida eventually and … Read more
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