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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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Closing a New Generation Gap in real estate based on Baby Boomers

Economists who predict underperformance in real estate based on Baby Boomers downsizing are overlooking another huge demographic trend. Each day about 8,000 baby boomers turn 65, and many of them wish to downsize. Given the smaller size of the Generation X or baby bust generation (those born
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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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5 questions to help you choose between a 30-year mortgage or 15 – Part 6

Do you have a strict savings plan? Choosing a 15-year mortgage over a 30-year mortgage also may be a worthwhile choice if you are not a disciplined saver. But many people may lack the discipline needed to save long-term, Cecala noted, especially in amounts that would offset what they would save
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5 questions to help you choose between a 30-year mortgage or 15 – Part 5

Are you planning on retiring soon? How close a borrower is to retiring plays a major role in whether to take out a 15-year mortgage. Typically, borrowers who take 15-year mortgages are at least 40 years old, according to Cecala. These borrowers are often willing to pay off the balance on their
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5 questions to help you choose between a 30-year mortgage or 15 – Part 3

Are you buying your first home? First-time home buyers often benefit from selecting a 30-year mortgage because the monthly payments are lower. A longer-term mortgage can make a more expensive home more affordable for a new buyer. According to Cecala, most first-time home buyers "are trying to
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For some it’s easier to get a mortgage

Make no mistake: Mortgage credit is still very tight by historical standards, and only borrowers with the most pristine credit and healthy down payments can get the lowest rates. But there are signs that the noose is loosening, if only slightly, in response to lower mortgage volume. Volume has
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Homes Sales Fall As Housing Becomes Less Affordable

Well it shouldn’t necessarily come as a surprise. Sales of previously owned homes fell 1.9% in September from a month earlier, according to the National Association of Realtors, as the summertime spike in mortgage rates pressured activity and housing affordability
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High-end house flips and Investors

Rising home prices and short supply have investors setting their sights on a new real estate play. Home flipping, loosely defined as buying and selling the same home within six months, fell out of favor during the housing recession, as falling prices left no prospect for profit. Now the market is
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Santa Fe is #17!

Readers of Conde Nast Traveler recently voted for their favorite cities* worldwide - and Santa Fe is #17! We're tied with Sidney, Australia and Victoria, Canada for the #17 spot. Pretty good company for our little town. Santa Fe was described as "pure magic;" a "heaven where souls vacation."
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