Two-thirds of baby boomers say they want to help their children or grandchildren with a home down payment, according to a study of more than 1,000 baby boomers age 45 and up conducted by Meredith Research Solutions for Better Homes and Gardens Real Estate.
In fact, one in five boomers surveyed say they’ve already loaned their children money, cosigned a mortgage, or given a cash gift for a down payment on a home.
Even baby boomers not considered wealthy are willing to offer help on down payments. While baby boomers who make more than $75,000 a year were found to be the most willing to offer help, 46 percent of baby boomers who make less than $75,000 per year say they also plan to help their child with a future home purchase, according to the survey. Read more
High unemployment and housing woes are forcing more Americans to stay put, new Census Bureau data shows. In fact, Americans are moving less than they ever have on record, since the Census Bureau started tracking such data in 1948.
In the last year, about 35.1 million of Americans — or 11.6 percent — moved to a new home, which is down from 12.5 percent in the previous year. The record for American mobility was 21.2 percent, reached in 1951. Read more
First-time home buyers are snagging up homes at much the same pace they were before the first-time home buyers tax credit created a buying frenzy two years ago. Indeed, for the first seven months of this year first-time home buyers have made up 32 to 36 percent of the market, according to NATIONAL ASSOCIATION OF REALTORS® statistics.
The term “starter home” seemingly refers to an entry-level property—one that is affordable yet needs tender love and care. But amidst the many homes available in today’s market, current first-time buyers want places with a little less room for improvement. In a survey of 300 consumers who purchased their first home in the last year, 87% said finding a move-in ready home is important to them.
While affordable housing prices, ample inventories, and historically low interest rates signal ‘buyer’s market’ for investors or move-up buyers in many U.S. markets, inexperienced first-time buyers may not know if the time is right to make a move into real estate. Read more
Right now, the languishing housing market offers some lingering upsides for those who have a pot of investment dollars to burn.
Home prices are low, financing is cheap and inventories are bulging.
The planets have aligned over vacation rental acquisitions.
The road’s been rocky for real estate in recent years, but that means it’s a buyer’s market and good time to grab a piece of the American Dream as a solid, long-term investment. Read more
30 year fixed mortgage rates are settling at levels significantly higher than all time lows set just weeks ago. Conforming 30 year fixed mortgage rates today are at 4.25% for well-qualified borrowers who pay a standard origination fee (points) of .07 to 1%. Current 15 year fixed mortgage rates today are at 3.75%. Read more
RISMEDIA, November 23, 2010—(MCT)—When Scott Harris and Sarah Jack did a major renovation of their 1925 Teaneck, N.J., colonial in the summer of 2009, they kept the environment in mind—for example, choosing kitchen counters made of cement and recycled glass. They thought about solar roof panels, but rejected that idea when they were told they’d have to chop down a towering tree that shades their back yard and house. Instead, they installed a green, or living, roof. The greenery absorbs and filters rainwater, as well as adding insulation, which cuts heating and cooling costs. Read more
It is a great time to buy for many would-be homeowners. The market offers historically low interest rates, as well as affordable home prices.
Here are 10 steps that buyers can take to make home dreams a reality!
1. Savings. You may already know how much monthly payment you can support (experts recommend no more than 1/3 your monthly income), but the buying process will also include upfront costs, such as a downpayment and closing costs. Read more