With rising home prices, more state lawmakers are proposing legislation to help home shoppers tackle the down payment obstacle. More states this year have considered or are considering passing laws to allow for tax-saving down payment accounts to aid first-time buyers.Three states authorized such accounts this year: Iowa, Minnesota, and Mississippi. Colorado, Montana, and Virginia already have such accounts in place.The established down payme
Consumer optimism in the housing market is growing—but it may be short-lived as tax reform looms.In Fannie Mae’s latest Home Purchase Sentiment Index, the share of respondents who say now is a good time to buy a home increased 7 percentage points from October to November. The share of respondents who say now is a good time to sell a home rose 4 percentage points and is up 21 percentage points year over year. Americans also expressed a greater
Congress approved a two-week extension for the National Flood Insurance Program late last week, keeping the program afloat until Dec. 22, but the National Association of REALTORS® continues to push legislators to do more—and fast.Beyond December, the program may be granted another short-term extension as part of a resolution to keep the government operating. That would give lawmakers more time to pass long-term NFIP reform and reauthorization.
Following on the heels of the Federal Housing Finance Agency, the Federal Housing Administration announced that it will increase its loan limits in most areas of the country in 2018. The FHFA had announced new limits for loans eligible for purchase or guarantee by Fannie Mae and Freddie Mac on Nov. 28.In high-cost areas of the country, the FHA’s ceiling on loan limits will rise from $636,150 to $679,650, according to the Department of Housing a
The national homeless population increased for the first time since 2010, bumping up 0.7 percent year over year in 2017, according to the Department of Housing and Urban Development. The West Coast was mostly responsible for the increase thanks to particularly tight housing markets in cities such as Los Angeles and Seattle, HUD’s data shows.“In many high-cost areas of our country, especially along the West Coast, the severe shortage of afford
Wildfires in Southern California showed resistance to containment efforts Sunday night, growing larger and forcing more homeowners to flee their houses. From San Diego to Los Angeles, an estimated 800 homes have been completely destroyed since the blazes—now the fifth largest in the state’s history—first started on Dec. 4. The fires have scorched 230,000 acres, prompted more than 200,000 residents to evacuate, and with more than 86,000 home
Home buyers from Great Britain have been focusing on purchasing single-family homes in the U.S., according to the U.S. Census Bureau’s Survey of Construction. They’re targeting markets across the country, with at least one city in nearly every major region seeing a marked uptick in activity from British investors, according to Investorist, a global B2B sales platform. Investorist reveals those cities, along with factors that make them an attr
Attention REALTORS Join with iPro by the New Year and receive our Fast-Track Marketing Package including 1000 Free Custom Business Cards, a Quality Name Badge, Buyer and Listing Presentations, a Custom Agent Website and more. All free of charge!For more info go to iprocareers.com.
Some home buyers are drawn to the smallest home on the block. A new survey by Houzz, a home remodeling and design website, sought to find out why these homeowners prefer residences that are often 1,000 square feet or less.Homeowners of small homes say relaxing and keeping the space clean is “easy” in a small home, according to the survey, which was based on 216 respondents who say they live in a small home.Homeowners also say there are many
As home prices rise, investors are getting more jittery about home flipping.Single-family homes and condos flipped in the third quarter yielded an average gross flipping profit of $66,448 per flip, according to ATTOM Data Solutions’ Q3 2017 U.S. Home Flipping Report. That is down from 51.2 percent a year ago, and it marks the lowest average gross flipping ROI since the second quarter of 2015, according to ATTOM Data Solutions, a real estate dat
This website includes images sourced from third party websites including Adobe, Getty Images, and as otherwise noted.
