Lower mortgage rates may be getting offset by higher home prices. Single-family homes and condos sold for a median price of $270,000 in the third quarter—up 8.3% from a year ago and a new high, a newly released report from ATTOM Data Solutions shows.Homeowners who sold in the third quarter earned a median profit of 34.5%—a postrecession high. They saw an average home price gain since purchase of $68,686, according to the report.The National A
Millennials are increasingly using Veterans Affairs loans to become homeowners. The number of loans backed by the Department of Veterans Affairs rose 2.3% annually in September. The uptick was led by a 14% jump in the number of mortgages for millennial veterans and active-duty military personnel, according to a report by Veterans United, one of the nation’s largest VA lenders.“There has been a question in real estate circles for years about w
When it comes to selling a home, the small tweaks can sometimes make the largest difference. From the tile grout to the smells, Apartment Therapy recently asked real estate pros to chime in with the easy-to-overlook attributes of a home that could increase a home’s value.The often overlooked areas that can make some of the biggest difference include:Clean surfaces and crevicesTake note of those baseboards and tile grout because the cleaner they
Opportunity zones have been called one of the biggest real estate tax breaks ever, but investors have been hesitant to take advantage, a new study shows. The tax breaks—which were spawned from the 2017 federal tax overhaul--aim to spur economic growth in nearly 9,000 low-income communities designated across the country. Investors who hold onto the investments for 10 years receive the greatest tax breaks. Read more: Get Up to Speed on O-Zon
Facebook has become the latest company to pledge money to help ease a housing crisis that critics blame big tech for. The social media giant on Tuesday said it would allocate $1 billion in grants, land, and loans to generate more affordable housing in California's Bay Area. The funds will be used to build an estimated 20,000 housing units for middle- to low-income households.In June, Google pledged $1 billion in land and money to build
One in five U.S. homeowners say they feel house rich but cash poor, according to the newly released Hometap Homeownership Study. The rising costs of homeownership nationwide prompted nearly 20% of 675 homeowners surveyed to classify themselves as feeling “house rich, cash poor” most of the time, according to the study produced by Hometap, a firm that provides loan alternatives for tapping home equity. Seventy-three percent of respondents say
The lights are the jewelry of a space. Swap out light fixtures to instantly update the style of a kitchen, designers say. Houzz recently featured an article offering tips on how to choose kitchen lighting. Among its insights:Layer the lights. “Light layering involves creating different shades of light, playing with shadows and using colors to highlight a room’s best features,” interior design writer Georgia Madden notes. “In the kitc
Cookie-cutter homes and apartments can look too similar to their competition, making it harder for them to stand out. But developers and designers are finding some ways that can make an abode different from the rest.“Everybody’s looking at what everybody else is doing,” Jonathan Miller, the president of Miller Samuel Real Estate Appraisers & Consultants, told The New York Times. An apartment can be “really nice and spec
When home shoppers are looking around for the best mortgage rates, they may wonder why they aren’t quoted the ones they see advertised online or by banks. Lenders usually advertise the best interest rates that are available only to their borrowers with the highest credit scores.Credit scores can have a big impact on what borrowers are quoted with mortgage rates.Forbes.com paints the following scenario in a recent article: Two neighbors are both
The split-level home—with its rooms on multiple floors—was all the rage in the 1970s, but you don’t see the style as much in contemporary homes. However, that may soon change. Google searches are revealing the split-level home is more in demand.Search interest in split-level homes has been climbing since 2004 and reached an all-time high in January 2017, according to Google data. The largest increases over the past year came during May and
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