The Department of Housing and Urban Development is expected to release updated guidance Thursday on condominium financing insured by the Federal Housing Administration, a move designed to help more would-be buyers become eligible for a mortgage. Specifically, the new rules will:Extend FHA certifications on condo developments from two years to three years, reducing the compliance burden on condo boards.Allow for single-unit mortgage approvals—of
In more places, homeowners are carrying supersized mortgages. Outstanding mortgage balances rose nationwide for the seventh consecutive quarter and reached a new high of $9.5 trillion, according to first-quarter data from Experian.“While mortgage debt numbers could be a cause for concern as buyers increasingly leverage their finances to purchase homes, other signs show they are more responsible with their mortgage debt than in years past,” Ex
Montana has seen the most growth in vacation homes over the past decade, nudging out traditional choices like Florida and California, according to a new study from IPX 1031, a 1031 exchange resource.Since 2009, Montana has seen its number of vacation homes grow the most (by 63%), followed by Mississippi (58%), Idaho (56%), Nevada (51%), and Alaska (48%).Overall, the number of vacation homes has risen over the past decade nationwide, increasi
Housing shortages likely will worsen over the next year as a shift in the housing market occurs, according to a report from realtor.com®. That shift could make it tougher for home buyers to find a home to purchase, despite low mortgage rates that are making it increasingly attractive to do so.Housing inventories could likely get near record lows by early 2020, says Danielle Hale, realtor.com®’s chief economist. In June, the number of newly li
Homeowners don’t care only about how well an appliance performs. They are also placing more emphasis on its look too, finds the J.D. Power 2019 Kitchen and Laundry Appliance Satisfaction Studies. That trend will likely continue too as “HGTV diehards and Pinterest enviers work to improve their living spaces and as manufacturers expand their offerings in this space,” the study notes.“Staying at the forefront of appliance design trends while
The way the furniture is positioned in a room can have a big impact on how prospective buyers perceive the space. Apartment Guide recently highlighted some of the most common layout mistakes that designers see in a space. Here are four mistakes to avoid.Placing furniture against the walls. “Not all furniture pieces need to go against a wall,” says Tammy Price, an interior designer and owner of Fragments Identity in Los Angeles. “Actual
Finding the right property is particularly stressful for families with children under the age of 18, and choosing the neighborhood carefully is critical to their home search, according to the National Association of REALTORS®’ 2019 Moving With Kids survey, based on responses from more than 7,000 consumers.The two characteristics that buyers say they weigh the most when deciding on a neighborhood are the quality of the school district
Real estate has surpassed stocks as Americans’ favorite long-term investment, according to a nationwide Bankrate survey of about 1,000 respondents. Thirty-one percent of survey respondents named real estate as their favorite investment for building wealth that they don’t need access to for a decade or more. That is the best that real estate has performed on Bankrate’s annual survey in the last seven years. In 2018, stocks were the most popu
The 30-year fixed-rate mortgage averaged 3.60% this week, the lowest average since November 2016, Freddie Mac reports.“There is a tug of war in the financial markets between weaker business sentiment and consumer sentiment,” says Sam Khater, Freddie Mac’s chief economist. “Business sentiment is declining on negative trade and manufacturing headlines, but consumer sentiment remains buoyed by a strong labor market and low rates that wi
iProcurrently deals throughout the states of California, Texas,Florida, and New York. We continue to strive and broadenopportunities for real estate professionals and consumers. Visit iprore.com for the latestinformation and links.Click here for information onbecoming a salesperson.
This website includes images sourced from third party websites including Adobe, Getty Images, and as otherwise noted.
