Residential 6 | Paper Source Online

Millennial Homeownership Is on the Rise Despite Affordability Issues

Published by REALTOR.com | April 3, 2024 About 38% of all buyers were millennials last year, according to the National Association of Realtors. That’s up from 28% in the previous year. Millennials are finding ways to become homeowners—despite an extremely challenging and expensive housing market. About 38% of all buyers were millennials last year, according …

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It’s Now Officially Cheaper To Rent Than Buy a Home in the 50 Largest U.S. Metros

Rental Property, Residential / By W. J. Mencarow

Published by REALTOR.com | March 26, 2024 Rental prices are falling—and it’s helping to make it cheaper to be a paying tenant than a homebuyer in America’s 50 largest metropolitan areas. Rentals fell for the seventh month in a row on an annual basis, according to the Realtor.com® February rental report. Prices dropped annually by …

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This Is The Very Best Time To Sell If You Want Top Dollar For Your Home

Housing Market, Residential / By W. J. Mencarow

Published by FOX Business | March 21, 2024 Every year, one week stands out from the rest as that perfect stretch of time when it’s great to be a home seller. This year, the week of April 14–20 is the best time to sell—that is, if sellers want to see lots of interest in their …

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Mortgage Rates Could Top 7% This Spring as Inflation Ticks Up

Interest Rates, Residential / By W. J. Mencarow

Published by REALTOR.com | March 12, 2024 Homebuyers might not want to bet on mortgage rates making any big drops as the spring housing market kicks off. Inflation ticked up in February by 3.2% year over year, according to the most recent consumer price index summary. That’s the third month in a row that inflation has …

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Home Buyers and Sellers to be Spared Standard Broker Commissions Under $418 Million Settlement

Legal, Residential / By W. J. Mencarow

Published by NBC News | March 15, 2024 Consumer advocates say the National Association of Realtors’ legal agreement, if approved, could save buyers and sellers thousands of dollars and lead many buyers to forgo agents entirely. The National Association of Realtors has agreed to a landmark settlement that would eliminate real estate brokers’ long-standing commissions, …

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Home Foreclosures Are Soaring Nationwide

Foreclosure, Residential / By W. J. Mencarow

Published by FOX Business | March 15, 2024 Home foreclosures rose again in February as Americans continue to grapple with the ongoing cost-of-living crisis. A new report published by real estate data provider ATTOM found that there were 32,938 properties in February with foreclosure filings, which includes default notices, scheduled auctions and bank repossessions. That …

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Home Buyers Need 80% More Income to Buy Than 4 Years Ago

Economy, Residential / By W. J. Mencarow

Published by The Center Square | March 14, 2024 A monthly mortgage payment for a typical U.S. home has nearly doubled since January 2020 The housing market is not immune from inflationary woes as buyer’s purchasing power has significantly diminished in four years. Home buyers in 2024 need 80% more income to purchase a home …

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Biden’s $400 Monthly Homebuyer Tax Credit: A Potential Hurdle to Homeownership

Politics, Residential, Taxes / By W. J. Mencarow

Published by REALTOR.com | March 8, 2024 The White House estimates it would help almost 3 million families. President Joe Biden might have thrown a lifeline to aspiring homebuyers in his State of the Union address on Thursday evening, but some experts fear that it could result in higher home prices. The president said he would like …

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How We Bought A Home With A 2.6% Assumable Mortgage

Mortgages, Residential / By W. J. Mencarow

Published by REALTOR.com | March 1, 2024 Assumable mortgages are considered the unicorns of the loan world. Some say it’s because there’s not much in it for lenders. But these homebuyers prevailed. Here’s how, and why they’re so glad they did. Mickey Ricard and Grace Lucchese were excited to buy their first home together. But …

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New Real Estate Opportunity Brewing as Some Americans Opt to Rent

Rental Property, Residential / By W. J. Mencarow

Published by FOX Business | March 3, 2024 Being a ‘forever renter’ is attractive to millennials and empty nesters, says Post Brothers CEO As economic woes continue to pummel the housing industry, one real estate developer is finding opportunities within a new market – the “forever renters.” Post Brothers CEO and co-founder Michael Pestronk joined …

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