Aging in place key to housing crunch for older Americans
By 2050, the population of Americans 65 and older will more than double and is expected to grow at a faster rate than any other age group, according to U.S. Census data. By that time, one in five Americans will be over the age of 65, and a new report says that growing population will […]15 years ago
Tom Kelly: Double-check mortgage interest by April 17
One of the biggest financial advantages of owning a home is the mortgage interest deduction but the amount many taxpayers submit is often greater than the allowed limit. Mortgage interest needs to be double-checked before the April 17 deadline. Why April 17 this year instead of April 15? According to the Internal Revenue Service, taxpayers […]15 years ago
Gas prices triggered housing crisis – O.S.U. economist
High gasoline prices provided the trigger that burst the housing bubble, according to JunJie Wu, an Oregon State University economist and one of the authors of a new study that blames high gas prices as the main culprit for the housing crisis that started in 2007. “The theory recognizes the role of subprime mortgages and […]15 years ago
Higher fees on FHA-insured loans kick in
The upfront insurance premium charged on FHA-insured mortgages for home purchases increased from 1 percent to 1.75 percent today (April 9), while the annual FHA mortgage insurance premiums rose by one-tenth of a percentage point. The cost of a $200,000 FHA mortgage will rise by about $24 a month, assuming the borrower includes the upfront […]15 years ago
Puget Sound home sales brisk, prices still lag
Home sales in the Puget Sound region continue to trend upward but prices lag behind, dragged down by the number of distressed properties clearing the market, the latest study from Northwest Multiple Listing Service revealed. Brokers reported 5,044 closed sales last month, improving on the 2011 total by nearly 10 percent. The overall median price […]15 years ago
Wamu buyer admits bank contributed to housing collapse
In a letter to shareholders, JPMorgan's chief executive admits that his bank contributed to the collapse of the American housing industry, but says that progress is being made to rectify the errors, HousingWire reported.
15 years ago
FHA clarifies new credit dispute rule
The Federal Housing Administration is giving borrowers a chance to provide an explanation on any disputed collection accounts in their history in order to qualify for an FHA-backed mortgage. The new FHA rule took effect April 1 and had some in the real estate community concerned that it would shut more buyers out of qualifying […]15 years ago
Five low-cost kitchen upgrades that pay off
The kitchen is the focal point in many homes. It is also the room that draws the most comparisons for home shoppers. Kitchen remodeling was up 36 percent last quarter compared with the same time a year earlier, according to the National Kitchen & Bath Association. Where did that cash go? Here are five cost […]15 years ago
Vacation, investment sales surge behind cash buyers
Sales of recent investment and vacation homes has skyrocketed with the combined market share rising to the highest level since 2005, according to the National Association of Realtors NAR’s 2012 Investment and Vacation Home Buyers Survey, shows investment-home sales surged an extraordinary 64.5 percent to 1.23 million last year from 749,000 in 2010. Vacation-home sales […]15 years ago
Under one roof: Moving back in with the parents
A growing number of families are moving in together, which sometimes means that three generations are living all under one roof.15 years ago
National foreclosures drop in February
An estimated 65,000 completed foreclosures were reported in the United States last month versus 71,000 in January and 66,000 in February 2011, according to CoreLogic. The number of completed foreclosures for the 12 months ended February 29 was 862,000. The study further determined that about 3.4 percent of all homes with a mortgage – 1.4 […]15 years ago
More consumers pay car loans before mortgages
Consumers are prioritizing their debt payments by opting to pay their car loans before mortgages and credit cards, according to an analysis by credit reporting bureau TransUnion. TransUnion analyzed the payment patterns of four million consumers who had at least one car loan, bank card, and mortgage payment. “With unemployment remaining high and real estate […]15 years ago
Most owners will spend $3,500 on improvements
Many homeowners who have no plans to move this year are opting to tackle improvement projects around the house, according to a new survey of 1,500 adults by American Express Spending and Saving Tracker. Seventy percent of homeowners surveyed say they intend to take on a home improvement project this year, and they plan to […]15 years ago
Scammers continue to hijack ads, repost elsewhere
Scammers are increasingly taking actual online listing ads of homes for sale from real estate agents’ sites and reposting them on sites such as CraigsList as rentals, duping a growing number of renters. Tug Pierson, a RE/MAX real estate professional, , says he learned of one of his for-sale listings being used in a rental […]15 years ago
Tom Kelly: Couples with separate homes not as taxing
Before the current rather liberal tax advantages for home ownership, many older people delayed or declined marriage or remarriage “for tax purposes.” That’s because each individual over the age of 55 was entitled to a one-time tax exclusion of $125,000 on the sale of a principal residence. Since many former spouses entered into a new […]15 years ago
Survey reveals most Americans still prefer to own
According to Fannie Mae’s national housing survey, most Americans across all demographic groups believe that owning a home is preferable than renting it. Out of 3,000 homeowners interviewed during the fourth quarter last year, nearly two-thirds of current renters say that they will buy a house at some point in the future. At the same […]15 years ago
Homeless reportedly being trained to squat in properties
A New York homeless advocacy group allegedly has been training homeless people how to squat in empty city properties. A board member with the nonprofit group, Picture the Homeless, is being accused of teaching at least 20 homeless people about “homesteading” and occupying a vacant property permanently. Squatting has been increasing in recent years as […]15 years ago
Credit is king: FHA taking harder line on loans
The Federal Housing Administration announced that starting April 1 it will not insure mortgages to borrowers who have an ongoing credit dispute of $1,000 or more on their file.
15 years ago
FTC files claim against bogus mortgage relief firm
The Federal Trade Commission has filed a complaint against a California-based company that falsely promised to get mortgage relief for homeowners who joined others in “mass-joinder” lawsuits against their lenders. The company used three websites, HouseHoldRelief.org, FreeFedLoanMod.org, and MyHomeSupport.org. The complaint claims the defendants masqueraded as a specialty law firm, Precision Law Center, and sent […]15 years ago
Underwater borrower turns home into billboard
Homeowners who are facing foreclosure are resorting to a unique form of assistance for their monthly mortgage payment. They're allowing an ad agency to repaint their home, converting it into a brightly colored billboard that promotes the agency, according to Northwest Reporter.15 years ago
Zillow study reveals lower than expected home prices
The latest Zillow Home Price Expectations Survey reveals that economists continue to temper their expectations about a recovery in home prices. The survey, compiled from 104 responses by a diverse group of economists, real estate experts, and investment and market strategists, records expectations about the projected path of the S&P/Case-Shiller U.S. National Home Price Index […]15 years ago
Big banks chip away at commercial property debt
Large banks have made big strides in the last three years in selling and modifying their bad loans stemming from sour commercial real estate deals and now are even starting to pick up lending once again in the sector, The Wall Street Journal reports. At the end of the fourth quarter, large banks – those […]15 years ago
