Prisons and military bases are commonly located outside small, rural towns and often are the biggest employers and economic drivers in their areas. But that’s been a double-edged sword—until now.Prisons and military bases currently count toward an area’s population, putting many communities over the threshold of eligibility for Rural Housing Service programs. A town with a population greater than 35,000 isn’t considered rural under RHS gu
The latest home design craze embraces the cozy—think fuzzy blankets and extra throw pillows. This style is called “cwtch,” and its expected to grow as a popular housing trend in 2019.Cwtch (pronounced “kutch”) means a cuddle, a hug, or a hiding place. It’s replacing hygge, another cozy design trend that made waves in home decor over the past two years.“I think of that rainy day when you just want to curl up and read a
For the second consecutive month, existing-home sales rose, as three of the four major U.S. regions saw an increase in sales last month, the National Association of REALTORS® reported Wednesday.Total existing-home sales—which are completed transactions for single-family homes, townhomes, condos, and co-ops—rose 1.9 percent from October to a seasonally adjusted rate of 5.32 million in November. Sales, however, are still down 7 percent from a
Millions of consumers may soon see a boost to their credit scores, which could help when applying for a mortgage. One of the largest credit-reporting firms in the U.S., Experian PLC, announced it will give consumers the option to have their cellphone and utility payments factored into their credit scores early next year. About 46 million consumers who have limited credit data could instantly see an increase to their credit scores from the new dat
More consumers are getting skittish about the housing market. Only 34 percent of consumers say they strongly believe now is a good time to buy, down from 43 percent a year ago, according to the National Association of REALTORS®’ Housing Opportunities and Market Experience Survey, based on a survey of more than 2,700 households.“Consistently fast-rising home prices well in excess of income growth over recent years have left buyers frustrated
Fewer new single-family homes entered the pipeline in November as housing affordability concerns continued to hinder inventories, the Commerce Department reported Tuesday.Housing starts increased 3.2 percent in November to a seasonally adjusted annual rate of 1.26 million units, but the increase was all due to an increase in multifamily starts—apartment buildings and condos. Multifamily starts rose 22.4 percent last month, while single-family h
Though your clients can gain an advantage by continuing their home search in December, many buyers and sellers will put their real estate aspirations on hold until after the holiday season. You can use this downtime to remind customers of your local market expertise so they’re ready to make a move when it’s time to jump back in. However, you want to be mindful of how you reach out to customers. To avoid becoming a nuisance during this bu
The first-time buyers surveyed, on average, went over budget by $3,615 in their first year of homeownership. Within their first-home budget, they spent the most money on new appliances, a new roof, a new furnace or air conditioning, and landscaping. Forty-eight percent of first-time buyers said they did not set aside enough money for their first year of ownership.“Purchasing a first home is not only expensive but can be emotionally exhausting,
Usually, home buyers don’t know what to expect when budgeting and planning ahead for the costs of homeownership. There are some smaller fees mixed into a home purchase that can get overlooked, but they still add up. HouseLogic.com recently featured some of the lesser-known fees to homeownership that buyers should budget for, including:Home inspection Typical cost: $300 to $500A home inspection can help buyers spot any structural or other c
Budget-conscious home buyers may have a tough time finding the right property, as only 30 percent of listings on realtor.com® are priced below $200,000—down from 53 percent in 2012, according to a recent analysis of the online portal’s data. But there are some surprising cities that still offer plenty of cheaper options for hungry house hunters.House hunters on the East Coast and in the Midwest may have the greatest number of choices, but th
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