Homeowners who have embraced the “tiny home” lifestyle are discovering that it’s not so easy to find a place to put their property. Many tiny houses—usually considered to be between 100 and 400 square feet—are built on trailers with wheels so they can be towed, but zoning regulations in many cities don’t allow for temporary structures such as RVs or other movable homes. These laws also frequently specify a minimum size for a home or l
The federal government is investigating a number of predatory lending schemes targeting thousands of veterans who have Veterans Administration mortgages. Officials say the scams aim to convince borrowers to repeatedly refinance, ultimately paying more on their loans. Some lenders also are being accused of using teaser interest rates, “cash out” windfalls, and lower monthly payments, using marketing materials that sometimes resemble Department
In the midst of a devastating hurricane season, many real estate pros are finding a new role as advisers, helping members of their community find temporary shelter, matching owners of damaged property with contractors or investors, and providing general emergency information. Help from the real estate community is needed before and after a storm, whether that’s handing out information on what to do and how to protect a home or being an informat
Homeowners who earn a high income are showing a preference for the suburbs—and even the far-out “exurbs”—over downtown living. A Census Bureau analysis of the 53 largest U.S. metros shows that only 3 percent of homeowners employed full-time who make more than $75,000 annually live downtown, while 11.4 percent live in inner-ring neighborhoods. But 14 percent live in the exurbs, and 71.5 percent are in the suburbs.In 2015, a $75,000 salary
Retiring baby boomers are less likely to be mortgage-free compared to people their age in previous generations, according to Fannie Mae. That could hurt boomers’ financial security and exacerbate the housing affordability crisis.Slightly less than 50 percent of the oldest baby boomer homeowners in 2015 were mortgage-free, 10 percentage points lower than the number of Silent Generation homeowners who were in the same age group in 2000 and mortga
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More new homes are coming equipped with front porches. Sixty-five percent of new single-family homes started in 2016 included a porch, according to a Census data analysis from the National Association of Home Builders. It’s only the second time since tracking began that new single-family homes with porches have moved back above 65 percent. For comparison, in 2005, 54 percent of new homes had porches.Certain regions of the U.S. are showing high
The share of households considered burdened by high rents is dropping, according to the 2017 National Rental Housing Landscape, a report published by New York University’s Furman Center for Real Estate & Urban Policy. But that doesn’t necessarily mean landlords are slashing rents.Researchers say the reason for the drop is mostly due to the higher number of wealthier families who are opting to rent. This has allowed landlords to raise pri
Some desperate home buyers who aren’t able to save enough for a down payment are turning to crowdfunding.And mortgage lenders are making it easier for buyers to do so. CMG Financial, a mortgage provider, launched HomeFundMe, an online platform to allow borrowers to crowdfund the down payment of a home purchase without fees. The crowdfunding platform also has the backing of mortgage finance giants Fannie Mae and Freddie Mac.Saving for the down
The 30-year fixed-rate mortgage inched upwards this week, averaging 3.85 percent. It’s the highest average in six weeks, Freddie Mac reports.“After holding steady last week, rates ticked up this week,” says Sean Becketti, Freddie Mac’s chief economist. “The 10-year Treasury yield rose 8 basis points, while the 30-year mortgage rate increased 2 basis points to 3.85 percent.”Freddie Mac reports the following national averages with mortg
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