As mortgage rates rise, more buyers in expensive metros are turning to adjustable-rate mortgages to curb costs.But the potential savings between a fixed-rate mortgage and an adjustable-rate mortgage is narrowing. The average rate on the 30-year fixed-rate mortgage and 5/1 adjustable-rate mortgage have both jumped by about 70 basis points from August 2017 to August 2018, according to Freddie Mac. ARMs, however, still do typically offer a slightlyÂ
More households are increasingly being headed by older adults—50 or older--and that requires different types of housing to meet this aging group’s needs and preferences, according to “Housing America’s Older Adults 2018,” a new report released by Harvard University’s Joint Center for Housing Studies. The report found that more than half of the nation’s households—some 65 million--are now headed by someone at least 50 years of age
Grays, mixed metals, and farmhouse styles are some of the most popular trends for remodelers taking on sprucing up their master bathroom.The 2018 U.S. Houzz Bathroom Trends Study is based on a survey of more than 1,100 homeowners who are planning or recently have completed a master bathroom renovation. Some of the trends that emerged from the report:1. Seeing gray:Â Gray colors continue to dominate for walls and flooring in the bathroom. Gray cab
The last few years, the home improvement business has been booming as more homeowners look to spruce up their homes. But are owners getting too confident that they can do it all themselves? “Costs, pop culture, and perhaps overconfidence could be driving DIY culture,” according to a new study from NerdWallet, a personal finance website.NerdWallet’s 2018 Home Improvement Report found that younger generations are particularly gung-ho about
After a yearlong search, Amazon has chosen two East Coast cities—Crystal City, Va., and Long Island City, N.Y.—to house its new headquarters. The online retail giant is expected to announce its decision on Tuesday that it’s coming to Long Island City, a neighborhood of Queens, and Crystal City, an area within Arlington, Va., just outside of Washington, D.C.The two real estate markets have already seen their housing markets rising in anticip
Rookie buyers looking for an affordable home may purchase one in need of repair in hopes of turning it into the house of their dreams. But an extensive rehab can quickly become the stuff of nightmares.Realtor.com® contributor Erica Sweeney shares her personal story of tearing down and rebuilding her first home 11 years ago in Little Rock, Ark. The home was built in the 1940s, and the floor plan didn’t fit her and her family's lifestyle. The en
Thirty-one people have died and 200 are missing as three wildfires sweep through California, turning hundreds of homes into ash. The death toll from the fires now matches the deadliest blaze on record in the Golden State, the 1933 Griffith Park disaster in Los Angeles. An estimated 250,000 people have been forced to flee their homes.“Most of the residential area is gone—I would say 90 percent,” Jody Jones, mayor of the town of Paradise, Cal
The city where the most locals plan to stay put is Spokane, Wash. It’s also the city that is the most popular with out-of-towners who want to move in, according to a new analysis by realtor.com®. The city is about four hours inland from Seattle and is known for its affordability compared to many other Western cities. Far more buyers around Spokane are looking for homes in the city rather than outside the city, according to realtor.com®’s re
Amazon is narrowing the list of cities for its second headquarters, announcing last week that it will pick two locations for what’s been dubbed “HQ2.” The list reportedly has been narrowed to Crystal City, Va.; Long Island City, N.Y.; and Dallas.Property frenzies have been sparked in Crystal City and Long Island City in anticipation that they’ll be the chosen two. Real estate brokerage Redfin reports that online views of listings in the t
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