Owning a home is the original American dream. It's the old frontier spirit, wanting to claim your own tuft of the New World. Then again, these days it also makes perfect economic sense. Experts estimate that all of the homes in the United States alone are worth a combined $14 trillion. That goes a long way to explain why a housing boom has been sweeping the globe.
Where there is a boom, though, there may be a bust. Read any headline from your local newspaper, and you'll se
Seventy-five percent of Americans still aspire to own a home and consider home ownership a major life goal, according to a new poll of non-home owners aged 22 to 50 conducted by Integra Realty Resources, an independent real estate valuation firm. Despite a housing crisis that saw housing prices drop in many markets, Americans’ enthusiasm for home ownership hasn’t lessened, according to the study. The survey found that non-home owners under the age of 30 are even more positive
Bargain home prices have jump-started sales on second homes, but more purchasers are opting to buy properties much closer to their primary residence. In the past, second-home buyers tended to buy properties out-of-state or were lured to vacation homes near far-flung resorts and tourist destinations. But second-home purchases these days seem to be more restrained, as more purchasers opt for vacation spots that are within a relatively short drive of where they live. Moreover, t
More sellers who are tired of their home lingering on the market or don’t want to have to take a loss on their home are opting to become landlords instead. For example, according to an article at NPR, one couple describes owning a two-bedroom bungalow in Oakland, Calif., which they purchased for $500,000, that was appraised recently at $260,000. When a job relocation was sending them across the country, they decided to rent instead of sell. But becoming a landlord isn’t an ea
Well, there’s at least one big Wall Street banker that’s betting on the United States becoming a “rentership” society: Morgan Stanly. Is the US moving toward rentership from ownership? Treat time for institutional investors to snap up distressed single-family homes and turn them into long-term rental units. The company says the properties don’t compete with the classic apartment rental property, so investors don’t have to worry about cannibalizing their multifamily rental inv
1. Investigate local, state, and national down payment assistance programs. These programs give qualified applicants loans or grants to cover all or part of your required down payment. National programs include the Nehemiah program, www.getdownpayment.com, and the American Dream Down Payment Fund from the Department of Housing and Urban Development, www.hud.gov. 2. Explore seller financing. In some cases, sellers may be willing to finance all or part of the purchase price of
Four years into the housing crisis, myths about foreclosure still litter the minds of even the smartest of real estate consumers. When it comes to matters as high stakes as your home, confusion can cost you thousands - or even your home. Whether you’re a buyer looking at foreclosures, a homeowner struggling to keep your home or a seller concerned making sure your home can compete with the foreclosed homes on your block, these foreclosure myths are prime for the busting, with
Interest rates are at all time lows and nationwide (US), home values are down 25 percent from their peak, meaning affordability is greater than ever. So, is now a great time to buy? It can be. But, before you start home shopping, ask yourself these 4 important questions: Can I really afford to be a homeowner? No question about it, owning a home is expensive. Not only is it ideal to put 20 percent down in order to secure financing with good rates and avoid Private Mortgage Ins
Whether you're buying or selling, it's important to choose representation that meets your needs in the transaction.
You have choices when selecting representation in a real estate transaction. Here are five tips for understanding which type of legal relationship with a real estate professional, called an agency relationship, will best protect you when you buy or sell a home. 1. Buyer's agency When you're buying a home, you can hire an agent who represents only you, called