If you liked 2017 real estate markets, you will love 2018. Buyers will need time, patience and persistence to find the right home this year. Owners who have been waiting for the right moment to sell might make their move now. Prices are leveling off in markets where home prices have outdistanced.
The three-year shortage of homes for sale is continuing this year, driving prices even higher. In many markets, they have reached a tipping point where hard-working, dual-income families cannot afford to become homeowners. Steadily rising mortgage rates coupled with prices driven by shortages are making conditions more difficult for buyers.2018 Opened With a Whimper
Retirees are the wealthiest demographic in America. More than 60 percent of households headed by people over 65 have assets worth at least six figures and more than 10 percent are into the seven figures. Many aging workers fear they can’t buy a home after they retire because they will be living on a fixed income. Some downsize before they are ready, selling the home they have lived in for many years and rushing the decision to buy a retirement home while they are still bringing home paychecks.
Qualifying for a mortgage after retirement is a little different than it is for buyers who are employed full-time. Retirees need to demonstrate to lenders that they can access [...]
You can access your retirement account, whether it is an IRA or a 401K plan, for the hard cash you need to make a down payment on a home, but there will be costs. Most plans will penalize you if you withdraw funds before you reach the age of 59 and a half. You will also be required to pay income tax on the funds you take out.
Are you better off in the long run buying a home now even though you have not saved enough for a down payment and have to access your retirement savings, or should you wait until you have enough to make a down payment, even if it takes a year or more? These days both mortgage interest rates and home values are rising steadily, putting pressure on [...]
Due to the rise of affordable smart products and the Internet of Things (IoT) in the last couple of years, it seems like almost everybody has some sort of smart technology in their home. Although the actual number of users is more like 1 in 6, the conversation about smart homes has turned mainstream.
When it comes to safety, however, don’t expect your Google Home, Amazon Echo, or Apple HomePod to notify you of a damaging situation on its own. But when these devices are connected to other technologies, the possibilities are endless. And so are the potential effects that technology could have on your homeowners’ insurance policy.
Picture this. You’ve [...]
If you are looking for ways to increase the value of your home for the 2018 market then look no further! Here are four materials that you can use to improve your house now:Choose a Green House Siding
Fiber cement siding is a great material to use that is very sturdy. Proven to be able to withstand high-winds, including hurricane-force winds, using this material on your home will surely up the value of your home. Fiber cement siding will protect your home from fire with its fire-resistant properties but will keep your house warm when you need it the most. It is also resistant to insects, moisture, and UV rays.
This sturdy material withstands the effects of harsh [...]
Adjustable rate mortgages are mortgages where the interest rate changes during the life of the loan. The most popular structure consists of a short period where the rate is fixed and attractively low−sometimes much as a full percentage point below comparable fixed-rate mortgages. At a date in the future − usually five to ten years − the interest rate resets. Often rates are linked to an index, like the prime rate, or the S&P 500, and after the reset, rates are usually significantly higher.
Adjustable-rate mortgages, or ARMs, were popular during the housing boom twelve years ago. Lenders created a variety of ARM structures to meet the demands of a buying public that had [...]