The average age of first time home ownership in the United States in the last 10 years has varied from 30 to 32 years of age, depending on the economy (Economists Outlook). My guess is that it might also depend on the area of the country people reside in. Certainly buying a house in rural Iowa is...
According to the media, now is the perfect time to buy a house. Or –wait a minute—wasn’t 2010 the perfect time to buy a house because prices were so ridiculously low and interest rates were low too? No, no, no, 2005 was the perfect time to buy a house, because if you waited any longer, you were...
If you own a home or are planning to buy a home, you’ve likely heard the terms real estate appraisal and real estate assessment. Those new to the housing market may assume that they are the same thing, but they are actually different because they are calculated in two different ways and are used...
Everyone seems to be living in suspended financial hibernation these days. The economy has been in the toilet for quite some time now, but if history teaches us anything, chances are it will bounce back at some point down the line.
Will you be prepared?
Saving for an emergency fund is a critical move...
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The housing market is beginning to rebound ever so slightly, so now might be the time to enter the housing market for the first time or to buy a rental property. Thanks to the housing crisis, though, buying a home isn’t simply a matter of finding a place...
If you are in the housing market, choosing what home to buy is not your only big decision. You will also have to think carefully about the type of mortgage you will take out. While most people think of the two most popular types of mortgages, fixed rate and adjustable, there are other types of mortgages...
Five U.S banks agreed to a $ 25 billion government settlement. This deal between the government and the banks accused of abusive mortgage practice may help a million borrowers. The result is a record state-federal settlement that will deliver wide, but not deep, relief to U.S. homeowners.
This deal...
The U.S. housing market might have some good news, Reuters reported on Sunday. It seems that for the first time since 2005, U.S. residential construction might be expanding a little next year. It might, in turn, add a little to GDP growth in 2012. It would add not much, of course, but it would complement...
Like it or not, your credit score can affect where you are hired, how much money you pay in interest over the course of a loan and whether or not you can even qualify for a loan. Since the start of the Great Recession and the housing market downturn, it is increasingly difficult to even obtain a loan. ...
Home prices are still falling. A new report on home prices, that just came out this week, indicates that the more those prices fall, the more American home owners fall into negative equity. It means that those home owners are unable to sell their property for enough to pay their real estate agent and...
For the next eighteen years, once a day in the United States, a Baby Boomer will turn 65. It will take almost two decades for this shift to occur because that epic post-World War II generation is 77 million strong. This transition has wide ranging socio-economic significance, not the least of which is...
If you pay attention to the media pundits who claim to know something about the state of our economy (and the housing market in particular) then you have probably heard that now is a terrible time to attempt to remortgage your home. For starters, keep in mind that these are the same people who were unable...
The dream of home ownership is one that plagues many adults. Paying into a rental, month after month, may be cheaper in the short term, but over the long haul you can begin to feel like you’re simply flushing money down the toilet that could be going towards an investment in your future. But buying...
Mortgage applications are on the rise, driven in large part by homeowners looking to refinance.
For America’s veterans, that’s just another signal that now is the time to capitalize on a VA refinance.
Demand for refinancing loans last week hit its highest level since the first week of June,...
