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Affordable Housing

The most recently published posts in the Affordable Housing category
Lesson 1 How is my credit score calculated? 1. Payment History ( 35% of credit score) 2. Debt Level ( 30 % of credit score) 3. Age of credit ( 15 % of credit score) 4. Mix of credit ( 10% of credit score) 5. Credit Inquires ( 10% of credit score) ...
Read Post [Posted on 10/24/2014 By Angela Angell]
Despite the jump in the latest median single-family home price — $220,600, up from around $160,000 just a few years ago, according to the National Association of REALTORS® — the large price gains are not denting affordability.Even with home prices climbing, home ownership remains affordable because low mortgage rates have helped to offset the price gains, writes Lawrence Yun, NAR’s chief...
Read Post [Posted on 10/23/2014 By John Askins]
Know a fixed rate from a floating rate? Homeowners in 13 states now have the freedom to pick their energy supplier. But before you sign that new contract, do some research to make sure you're really getting the best deal. Image: Liz Foreman for HouseLogic ...
Read Post [Posted on 10/22/2014 By Vanita Cooper]
Social Security is the largest source of retirement income for many retirees, but how far those checks will stretch depends on how much you’ve earned in Social Security benefits as well as where you live.For retired workers, the average Social Security benefit was $1,294 per month at the end of 2013, which equates for a couple to be about $31,056 in annual Social Security benefits (also ad...
Read Post [Posted on 10/22/2014 By John Askins]
Despite what just feels like the right answer, buying a home can be significantly cheaper than renting one. It’s one of those rare cases where, if you stop and make common sense judgments about the factors at play, the ‘just feels like’ conclusion is the opposite of the one common sense leads you to. Much of the reason has to do with short-term versus long-term considerations (buying a h...
Read Post [Posted on 10/21/2014 By Connie Inmon]
Many retirees have been struggling to qualify for a mortgage, finding their post-retirement monthly incomes aren’t sufficient enough to get a loan under today’s tough underwriting standards. The problem was particularly pronounced for retirees who were still making payments on car loans, credit cards, or home equity lines of credit and who found they were unable to qualify under today’s low “debt-...
Read Post [Posted on 10/20/2014 By John Askins]
The average price for a home in Houston has increased by nearly $94,000 over the past decade.In 2004, the average price for a Houston home was $175,800. Today, that price has increased more than 50 percent to $269,440, according to data from the Houston Association of Realtors and the Real Estate Center at Texas A&M University.In recent years, home prices have skyrocketed in Houston, squeezing...
Read Post [Posted on 10/15/2014 By Susan Arnoldy]
After a lifetime of living and working among people of all age groups, many retirees move to communities where they can live primarily among their peers, seeking towns where those age 65 and older make up the largest percentage of the population. We then narrowed the search to one place in each state to give the list some geographic diversity.Karen Lovegrove, 71, lives almost exclusively among oth...
Read Post [Posted on 10/15/2014 By John Askins]
Owe more on your Fannie Mae- or Freddie Mac-guaranteed mortgage than your home is worth? Uncle Sam is giving you until the end of 2015 to use the federal Home Affordable Refinance Program to refinance your underwater home loan.HARP, part of the Making Home Affordable Program, was set to expire Dec. 31, 2013. U.S. Treasury Department officials extended the program until Dec. 31, 2015, c...
Read Post [Posted on 10/14/2014 By Marla Lewis]
“It doesn’t matter how good you are in the property management business, there’s always something you’re can get sued for,” Lori Burger, CPM and the Institute of Real Estate Management’s 2014 president. Part of it is just the nature of the business: Balancing relationships and contractual agreements with both property owners and renters can leave property managers open to litigation fro...
Read Post [Posted on 10/14/2014 By John Askins]
If income growth is key for greater household formation, housing analysts say some recent progress on the salary front may soon unleash pent-up housing demand among younger adults.While all age groups, except for those above age 65, continue to experience lower incomes than in 2007, according to a U.S. Census Bureau Current Population chart, analysts say a notable change that started last year is ...
Read Post [Posted on 10/11/2014 By John Askins]
Apartment rents and occupancies are near record highs as demand increases, particularly among former home owners who have faced foreclosure and are now forced to rent than buy. Rising rents are appearing even in the hardest hit cities, such as Orlando, Detroit and Phoenix, that have faced some of the highest unemployment rates and biggest losses in housing values, The Wall Street Journal reports...
Read Post [Posted on 10/11/2014 By John Askins]
More than half of renters who wish to buy a home say they are unable to because they’re not able to save enough for a down payment, according to Trulia’s American Dream survey. Lack of a down payment proved to be the biggest obstacle for young adults (18-34 year olds), as 62 percent cite it as the reason they have been unable to buy a home. Among those aged 35-54, the bigger concern was qualifyin...
Read Post [Posted on 10/11/2014 By John Askins]
Home prices continue to rise nationwide, albeit at a slowing pace. Including distressed sales, home prices rose 6.4 percent year-over-year in August, according to CoreLogic's latest Home Price Index.All 50 states showed year-over-year home price gains, with nine states soaring to new highs. Those states were: Texas Colorado Iowa Louisiana Nebraska North Da...
Read Post [Posted on 10/10/2014 By John Askins]
Renters are increasingly saying that if a rental unit doesn’t allow a pet, they don’t want it. A survey by Apartments.com found that 43 percent of those surveyed say they are current pet owners and more than a quarter say they plan to get a pet within the next year. Even among those who aren’t pet owners, 34 percent still say they want to have the option and enjoy living in a pet-friendly building...
Read Post [Posted on 10/10/2014 By John Askins]
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