For most Americans, a home purchase is the biggest purchase of their life and thus requires taking on a large amount of debt. The average mortgage debt can vary considerably from state to state.“Cost of living and home prices are a big factor,” says Greg McBride, chief financial analyst at Bankrate. “The cost of living impacts how much you can save for something like a down payment, and home prices impact how much you have to borrow.”Weal
In just a few months, home shoppers may begin to see a drop in the number of homes for sale, which could lead to the return of bidding wars and quicker home sales, a new report from realtor.com® predicts.Realtor.com® researchers predict a major shift to occur in the housing market that will affect buyers’ bargaining power well into 2020. With high demand for the limited number of homes for sale, buyers may need to be braced to pay higher home
Facebook has been facing federal agencies that claim it has allowed real estate companies to discriminate against users when displaying ads, but now New York is launching its own investigation into these accusations.New York Gov. Andrew Cuomo says he’s ordered the New York Department of Financial Services to investigate whether Facebook permitted state-regulated advertisers serving housing ads on its site to discriminate against prospective res
Most Americans believe they’ll need an average of $1.7 million to retire, according to a new study from Charles Schwab. Researchers analyzed 1,000 401(k) plan participants across the country.“The bulk of folks do not get there,” Nathan Voris, a managing director at Schwab Retirement Plan Services, told CNBC.More than half of respondents surveyed say they are contributing 10% or less of their salary to their 401(k), which is the largest sour
What are people searching for on the internet when it comes to home design? Google released a new report that breaks down the most popular searches by several design categories for the home. Coastal-inspired living rooms, ranch style homes, and blue hues appear among some of the most curious trends in Google searches. Google’s Home and Garden Trends report compiled the biggest search trends over the past year. Here’s what the report found:Mos
City ordinances and homeowners associations present many guidelines you must follow. Homeowners can face fines for violating rules and laws, such as not obtaining the proper permit for a remodeling project or not performing regular upkeep on a property. MSN recently highlighted several surprising things that homeowners also can get in trouble for, including:Obstructed address number. You should make sure their landscaping isn’t hiding the addre
Short-term rental properties are popping up in more neighborhoods across the country as homeowners look to cash in on an extra income stream. But is an Airbnb, Vrbo, HomeAway, or other short-term rental good for a thriving neighborhood?The STR industry has posted significant growth over the last five years. Airbnb, as of October 2018, reported more than 5 million hosts and $2.7 billion in profit. But property owners recently surveyed by Porch.com
Mortgage products that haven’t been widely used since before the Great Recession are making a comeback. The volume of loans with alternate documentation has more than doubled in the last two years among loans included in mortgage-backed securities, according to a report from Fitch Ratings.The alt-doc loans have performed well since the housing crisis, but Fitch analysts say they’re still concerned about the uptick. “Although alternative doc
A supportive cohousing community focusing on seniors who identify as LGBT broke ground last November in Durham, N.C., and is scheduled for completion in April 2020.The Village Hearth Cohousing development will include 28 single-story accessible homes on a 15-acre wooded site, 15 minutes from downtown Durham. The homes will range in size from 650 square feet to 1,150 square feet, and they will be attached in quads for energy and con
Mortgage rates barely budged this week, keeping borrowing costs low for summertime home shoppers. Mortgage rates continue to hover near their 2016 averages. “We’re seeing a tug of war happen as the fixed-income market flashes warning signs while the equities market continues to march higher with optimism,” says Sam Khater, Freddie Mac’s chief economist. “The data suggests the economy is weakening but is still on very solid ground, with
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