All baby boomers will be age 65 and above by 2029, according to the U.S. Census Bureau. At that point, more than 20 percent of the U.S. population will be over the traditional retirement age.If you’re helping clients make decisions about homes that will meet their needs as they age, Hy-Lite, a U.S. Block Windows Company, has three suggestions for windows that will be suitable for homeowners aging in place.Easy-to-operate windows. Easy-to-open
Mortgage rates took a slight breather this week as borrowing costs moved lower and offset last week’s uptick.Still, the housing market is trying to adjust to rates that are much higher than a year ago. “While higher mortgage rates have led to a decline in home sales this year, the weakness has been concentrated in expensive segments versus entry-level and first-time buyer [segments], which remain firm throughout most of the rest of the countr
Rising home prices over the last few years have helped homeowners gain more equity in their homes. In the third quarter of 2018, homeowners sold for an average of $61,232 more than their original purchase price—the highest average home seller price gain since 2007, according to a newly released report from ATTOM Data Solutions. That marks a 32 percent return on the original purchase price, just shy of the recent peak set in the fourth quarter o
The average down payment for a home is decreasing, which could be good news for those looking to buy. Prospective buyers may need to save less money for a down payment, according to a new study by LendingTree.The average down payment amount for U.S. homes dropped in the third quarter by nearly 10 percent, falling from $52,480 to $47,265, the study shows. However, the overall average down payment percentages for conventional 30-year, fixed-rate
A larger number of Americans—notably fueled by millennials—entered homeownership during the summer months. The national homeownership rate rose to 64.4 percent in the third quarter—a half percentage point higher than a year ago, the U.S. Census Bureau reported this week.The increase was largely attributed to a rise in first-time buyers as more millennials entered homeownership. The ownership rate among those under the age of 35 climbed from
Home buyers may be so anxious to find a home that they aren’t even spooked if it’s rumored to be haunted. A new survey says one in three consumers say they’re willing to take a chance on a haunted home, but there needs to be something to sweeten the deal for them, according to realtor.com®’s annual Haunted Real Estate Report, based on responses from more than 1,000 Americans. However, 18 percent said a home that is haunted wouldn’t aff
You’re trying to sell a home that a former owner passed away in. Must you reveal that to home buyers, and will it give some buyers the creeps?In the majority of cases, with a peaceful death inside a home, “there’s no legal obligation in most states requiring that [sellers] disclose it,” Jason Wells, a real estate professional and attorney at Wells Law Group in Phoenix.Indeed, the majority of states do not require sellers or their real est
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Housing affordability is worsening due to higher mortgage rates, which is prompting a slowdown for what home sellers are able to get for their home. The U.S. median home price rose 4.8 percent in the third quarter, the slowest rate of annual appreciation since the second quarter of 2016, according to a new report released by ATTOM Data Solutions, a real estate data firm.“The continued slowdown in the rate of home price appreciation nationwide
More new homes are being built with patios, as homeowners show a greater craving for more outdoor space. About 58.6 percent of new single-family homes started in 2017 included a patio, according to an analysis by the National Association of Home Builders. That makes patios more common than decks (23.8 percent), but still shy of the popularity of porches (64.7 percent).The West South Central and Mountain regions of the U.S. tend to show the highes
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