General

General

Half of all Renters Spend 30% or More Income on Housing

Freddie Mac reports that residents of apartment communities that include five or more rental units currently make up 15 million U.S. households — a figure that is expected to climb with shifting demographics and housing preferences. Such factors as demographic trends, household formations, and
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Brokerages are attracted by perks of ‘Cloud Office’

Virtual real estate brokerage models have been around for years, but because they fail to meet the social and collaborative needs of agents, they often are found to be isolating and uninspiring. Real estate agents fax documents to someone whose name they may not know and who they may never meet,
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Higher Home Prices Lead to More Sales

If home prices edge higher, the housing market will see higher home sales, according to a new paper by two senior economists with the Federal Reserve Bank of San Francisco. The economists note that it’s not that the higher prices entice buyers as much as the higher prices entice owners to sell
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From Negative Equity 2.5M Mortgages Emerge

More home owners are edging above water with their mortgages: 2.5 million U.S. properties emerged from underwater or negative equity in the second quarter, according to CoreLogic. The total number of residential properties with a mortgage with equity stands at 41.5 million. However, some home
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Home Ownership Barriers Vary by Age

Many Americans are still facing obstacles in buying a home. But depending on the age group, the biggest hurdle can be quite different, according to the Country Financial Security Index, which measures Americans’ sentiments on personal financial security. For example, members of Generation Y as
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Under HAMP more Homeowners are Receiving Principal Reductions

As of September, more than 1.2 million homeowners have received a permanent modification through the Home Affordable Modification Program (HAMP), according to Treasury Those granted permanent relief through HAMP are saving approximately $547 on their mortgage payments each month--almost a 40
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The Richest Real Estate in the World

The title “world’s richest piece of real estate” may conjure up images of Rodeo Drive, the French Riviera or New York City’s Fifth Avenue, but it may actually be located in … Botswana. According to Debswana, a mining conglomerate jointly owned by De Beers and the Botswana government,
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5 questions to help you choose between a 30-year mortgage or 15 – Part 4

Are you looking to refinance? If you already have a mortgage and would like to refinance, now may be a good time. Cecala noted that if your current payments on a 30-year mortgage are high enough, you might be able to refinance into a 15-year mortgage and make similar monthly payments while
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5 questions to help you choose between a 30-year mortgage or 15 – Part 2

Can you afford to pay off the mortgage in 15 years? Although a 15-year mortgage offers a lower rate relative to a 30-year mortgage, thereby allowing borrowers to pay interest for only half as long, a 15-year mortgage comes with a higher total monthly payment. This is because the principal must
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New home buyers could be dissuade by rising mortgage rates

A sharp rise in mortgage rates over the last few weeks means it may be too late for some homeowners to benefit from a refinance. This just as thousands were gaining equity in their homes and finally becoming eligible. At the same time, the still-low rates are encouraging some renters to buy
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