Depending on where you live, saving for a down payment can take several years of financial planning. For example, in some markets, it may take the average person nearly a decade to save enough to buy a home. In California, that especially rings true.California is home to four of the five cities on a recent list by SmartAsset of the places where it takes the longest to save for a down payment: San Francisco, Los Angeles, San Jose, and San Diego.Sm
Reverse mortgages for purchases have been around a while but they stand to see more use as younger baby boomers hit retirement age. The mortgages are backed by FHA and they let households buy a home without having to make monthly mortgage payments. Instead, buyers put up a fairly sizable down payment and finance the rest with the reverse mortgage. The monthly payments then come out of the reverse mortgage each month, freeing up money for househol
Internet users don't tend to have a lot of patience. For example, 79 percent of users will search for another site to complete a task if your website is not optimized, according to an ExperienceDynamics' study. A broken link or even the slightest delay could be enough to get them to move on.A great website can help draw more business to you; a bad one could be costing you business. Better Homes and Garden Real Estate's blog, Clean Slate, recently
The 65-plus population is expected to surge from 48 million to 79 million in the next 20 years. Yet, the availability and affordability of housing to meet this blooming population is inadequate, according to a recent Harvard Joint Center for Housing Studies report.The report shows that only 3.5 percent of today’s housing contains the following three key elements of “universal design”: zero-step entrances, single-floor living, and wide halls
U.S. home prices are within a mere 0.3 percent of reaching a new national peak, reports Black Knight Financial Services Inc. The firm’s latest Home Price Index, which reflects November 2016 residential real estate sales. The new study shows that home prices have risen 5.7 percent since the start of 2016.Home prices reached new peaks in six of the country’s 20 largest states and eight of the 40 largest metros, the report read.The following cit
Buying a home is much more than just paying a mortgage bill. Once you factor in association fees, property taxes, utility bills, and home maintenance, owners are often facing a much steeper price that is hundreds of dollars more.Help your buyers get an accurate estimate of how much ownership will truly cost them. Here are a few of the common expenses they’ll want to add to their budget, along with estimations of costs (note: costs can vary dram
The U.S. has the most cities with affordable housing in the world, according to the 13th Annual Demographia International Housing Affordability Survey: 2017.The study measured the affordability in 406 metro markets in nine countries globally (Australia, Canada, China, Ireland, Japan, New Zealand, Singapore, the U.K., and the U.S.)U.S. cities occupied all top 10 slots in the most affordable housing rankings. Here are the cities that topped the wor
This last week's plunge in mortgage applications was at least partially triggered by a large drop in government-insured loans. Overall applications for FHA loans dove 13 percent last week, after the Trump administration's first housing policy move. The Department of Housing and Urban Development suspended the reduction in Federal Housing Administration mortgage insurance premiums set to take effect Jan. 27.The quarter-percentage point reduction i
Your clients have a lot to think about on moving day, but it's important that they have more than just organizing and unpacking on their to-do list, according to The Red Cross. The group recently featured several items home buyers should think about when settling in to a new house.Create fire escape plans and meeting places.The plan should include two ways to exit the home and set two different meeting places for family members. One might be a me
Women may on average earn less than their male counterparts, but single females are buying up homes at more than twice the rate of their male counterparts.Single women accounted for 17 percent of home buyers in the U.S. last year, compared to just 7 percent of single men, according to the National Association of REALTORS®. This housing gender gap has existed for awhile but it continues to widen for a variety of reasons, according to Jessica L
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