Author: RT

Pass Along to Homebuyers: How to Get a Mortgage

Getting a mortgage can be confusing, but InvestmentZen is trying to make it easier. Pass this along to your buyers. When it comes to mortgages, most people know the basics: a mortgage is a long-term loan that lets you buy a house. As the borrower, you pay back the principal (the amount you borrowed) along with interest payments. The property you purchased serves as collateral for your loan. But if you’re looking to buy a house, you’ll need to know a lot more than these generalities. As we saw during the sub-prime mortgage crisis, too many people jumped into...

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Financial Stress Suggests Consumers are Making Impulsive Decisions in the Home Buying Process

Owners.com® 2017 home buyer study finds, in this competitive market, consumers willing to go over budget will consider, on average, spending an additional $37,809 to get into a home Owners.com, an innovative online brokerage, recently commissioned a survey of more than 1,200 consumers considering a home purchase this year. The theme of this year’s spring real estate season? Stress. In fact, according to the study, 72 percent of potential home buyers stated that they expect stress in the home buying process, with many citing financial aspects as the most concerning. Additional key findings are included below. When asked about...

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Single-Family Housing Starts Reach Highest Level since Late 2007

Nationwide housing starts rose 3 percent in February from an upwardly revised January reading to a seasonally adjusted annual rate of 1.288 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department. Single-family production increased 6.5 percent to 872,000 units — its highest reading in nearly a decade — while multifamily starts fell 3.7 percent to 416,000 units.      “This month’s gain in single-family starts is consistent with rising builder confidence in the housing market,” said Granger MacDonald, chairman of the National Association of Home Builders (NAHB) and a...

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WalletHub Releases 2017 Property Taxes by State Report

Each year, the average American household spends $2,149 on real-estate property taxes plus another $402 for residents of the 27 states with vehicle property taxes. With such high costs, it’s no surprise that about $11.8 billion in property taxes go unpaid each year, according to the National Tax Lien Association.  In order to determine who pays the most relative to their state, the personal-finance website WalletHub  released its 2017 Property Taxes by State report, which compares home and vehicle taxes across the nation and features insights from a panel of experts. 10 Lowest Real-Estate Property Taxes by State 1...

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February 2017 Foreclosure Activity Drops to New 11-Year Low

EBRUARY 2017 FORECLOSURE ACTIVITY HIGHLIGHTS: Overall foreclosure activity in February dropped to a new 11-year low, the lowest since November 2005 Foreclosure activity decreased on a year-over-year basis for the 17th consecutive month Counter to the national trend, foreclosure activity increased on a year-over-year basis in 10 states and the District of Columbia, where foreclosure activity increased 235 percent from a year ago. Foreclosure activity has increased in DC on a year-over-year basis for 12 consecutive months ending in February 2017 States with a year-over-year increase included New Jersey (up 16 percent); Delaware (up 14 percent); Louisiana (up 12...

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