Reserve has affirmed that it would maintain its policy on interest rates for
a "considerable time," and the central bank also
said it would further reduce its monthly bond purchases starting in
October, to $10 billion worth of longer-term Treasuries and $5 billion
worth of mortgage-backed securities.The
statement by the Fed's policymaking Federal Open Market Committee (FOMC...
Reverse mortgages are an increasing option that baby
boomers turn to as they age to cover living expenses, but heirs may get
stuck with the final bill, The New York Times reports.
“In the future, more homes passed on to children will come with a
bill attached – the balance due on these equity loans,” The Times reports.
Reverse mortgages allow home owners 62 and older to borrow money
While you’d like to get the best price for your home, consider our six reasons to reduce your home price.If you don't receive any offers for a few weeks, check out other comparable houses on the market and what they're going for. Image: Liz ForemanHome not selling? That could happen for a number of reasons you can’t control, like a unique home layout or having one of the few homes in the neighborh...
Understanding how appraisals work will help you achieve a quick and profitable refinance or sale.If you think the appraisal value of your home is too low, you can seek a second opinion. Image: David Sacks/Lifesize/Getty ImagesWhen you refinance or sell your home, the lender will insist that you get an appraisal—an opinion of the value of your home based on what similar homes in your area have sold...
Before you put your home up for sale, understand how the right comparable sales help you and your agent find the perfect price.A house is comparable to yours in price if it's in the same neighborhood, on a similar street, and in the same school district. Image: image100 Photography/VeerHow much can you sell your home for? Probably about as much as the neighbors got, as long as the neighbors sold t...
A new report from Texas Tech University shows how the Permian Basin is
now one of the biggest oil and gas producers in the world with an
economic impact felt across the country. The report, by energy economics professor Bradley Ewing, was commissioned by the Permian Basin Petroleum Association.
Ewing and his team found that the region has the highest rig count of
any basin or region in t...
Recent news has been encouraging for the overall growth of the U.S. economy during the third quarter, as consumer
credit, excluding mortgages, rose $26.0 billion in July to a total of
$3.24 trillion, according to Federal Reserve data. The
higher-than-expected annualized growth rate of nearly 10% from June was
the largest in three years and indicates stronger consumer spending,
REMAX Housing Blog: “We
all have fantasy images of our dream house. These images may be hard
to let go of when buying
especially when all you can afford are homes that, well, let’s just
say need some TLC.That’s
when it’s important to keep in mind that the fixer-upper you’re
looking at could have the potential to someday become your dream
house. It’s just one advantage fixer-...
The Federal Housing Finance Agency announced that it wants housing
finance giants Fannie Mae and Freddie Mac to provide greater support to
low-income mortgage borrowers and refinancers.
FHFA, which is the regulator for Fannie Mae and Freddie Mac, outlined
goals for 2015-2017 aimed at advancing that goal. It wants to ensure
that low-income families account for 23 percent of the GSE’s pur...
Once former home owners, who have experienced a foreclosure, get a better handle on their credit, how long do they have to sit on the sidelines until they can secure future financing to buy a home again? An article in The New York Times notes “there are plenty of asterisks and conditions” when it comes to how long a borrower must wait after a “significant derogatory event,” like a foreclosure...
Carrying student loan debt is making it more difficult for many young
professionals to qualify for a mortgage. Recent college graduates with
student loan debt who want to own a home will need to earn about
one-third more annually — or $8,969 more — than those who are debt-free,
according to new research by the real estate data firm RealtyTrac.“To overcome the additional debt from student l...
Home prices in a given area tend to increase when the stock valuations of nearby publicly traded companies go up, according to a new Redfin study. For every $1 billion increase in stock value of locally based companies, the median sales price of nearby homes increases by $4,400, the study found.
Redfin analyzed home prices and stock valuations of 824 public companies across 19 metros over the las...
Though the housing market is trucking along, that doesn't mean real
estate scams have gone away. Home owners have been duped out of an
average of $4,000 to $5,000 from scams, but even five-figure losses
aren’t uncommon for those who have fallen prey to fake loan
modifications and other housing fraud. Forbes highlighted three
of the most common real estate scams today:1. Rental scams...
Million-dollar homes aren’t escaping foreclosure, or the hefty price discounts that often come with it.
The number of homes in foreclosure that have mortgages that are $1 million or higher are nearly twice as high now as they were in 2007, representing about 2.3 percent of all homes in foreclosures, according to RealtyTrac.
"We're seeing evidence in our data that the high-end mark...
With improved equity comes higher costs for property taxes and insurance. Here’s how to manage them smartly.Let out a sigh of relief, homeowners. Home prices are on the rise, which is great if you’re thinking of putting your house on the market. Just keep in mind that rising prices might mean rising bills, too. Image: Liz Foreman for HouseLogicIf you’re like most homeowners, rising home prices mea...