Young adults strapped with student debt are delaying buying a home an average of seven years, according to a joint study by the National Association of REALTORS® and American Student Assistance released Monday. The average student debt load among survey respondents—who are millennials between the ages of 22 and 35—is $41,200, which is higher than their average annual income of $38,800, the study shows.Eighty percent of the more than 2,000
Price: $3,995,000Size: 4 Beds / 3 Baths / 5,357 Sq Ft Living / 177,376 Sq Ft LotBuilt: 2002Imagine an estate with surroundings that instantly transport you to the vineyards of Tuscany. This Italian-inspired Villa is a custom built residence amidst a tranquil setting and beautiful natural landscape. Tucked in Silverado Canyon, it is hard to imagine you are in the heart of Orange County within 10 minutes of many surrounding cities. The Villa has 4
The Senate confirmed the nomination of Pam Patenaude as deputy secretary of the Department of Housing and Urban Development, a choice the National Association of REALTORS® and other real estate groups say will be good for homeownership. Patenaude previously served at HUD as its deputy secretary for field policy and management from 2001 to 2007 and later as assistant secretary for community, planning, and development. She then became president of
The fertility rate in the U.S. has dropped to the lowest level on record, and with fewer households having children, consumers’ real estate needs are changing.In 2015, slightly more than 70 percent of households had no children living at home, a three-percentage-point increase from 2011, according to the Census Bureau’s American Housing Survey. Broken out by age group, those ages 25 to 29 and 35 to 44 who didn’t have children in their hous
Mortgage rates mostly held at last week’s year-to-date lows, offering another opportunity for borrowers to take advantage of savings.“Following a sharp decline last week, the 10-year Treasury yield rose 11 basis points this week,” says Freddie Mac chief economist Sean Becketti. “The 30-year mortgage rate, however, remained unchanged at 3.78 percent. If Treasury yields continue to rise, mortgage rates could see an increase in next week’s
The real estate industry has been pouring in donations to go toward supporting storm victims affected by catastrophic flooding from Hurricanes Harvey and Irma. Over the past two weeks, individual and state and local association donations to the REALTORS® Relief Foundation have totaled $1.2 million. The National Association of REALTORS® also announced this week that it would give an additional $600,000 contribution to the RRF.The RRF says 100 pe
REALTORS® took their concerns over tax reform proposals to Capitol Hill on Wednesday, with Iona Harrison, chair of the National Association of REALTORS®’ Federal Taxation Committee, warning the Senate Finance Committee that they limit or nullify the tax incentives for homeownership. Harrison said the proposals would actually raise taxes on millions of middle-class homeowners and reminded senators that a drop in home values following tax refor
If you’re ready to move forward with flooring but are uncertain about which direction you should go, these simple facts about the differences between solid hardwood flooring and engineered hardwood will have you landing on solid ground.1. Installation TimeIf time is of the essence, your clients may want to consider engineered hardwood. This option comes prefinished in the color of choice, and the planks easily click into place. No need to hire
Which states offer retirees the most bang for their buck? SeniorAdvice.com developed a special scoring system to identify and measure livability for seniors based on financial factors, like tax rates, cost of living expenses, average income, and senior living costs.The following five states landed at the top of SeniorAdvice.com’s rankings as the most senior-friendly for retirement finances:1. Wyoming2. Virginia3. South Dakota4. Alabama5. Louisi
Houston’s catastrophic flooding from Hurricane Harvey doesn’t appear to be a deterrent for the area’s housing demand.The brokerage firm Redfin says that its agents already have 45 home buyers ready to purchase homes where the storm hit. They said that only eight buyers backed out because of the storm. Showing requests rebounded just a week after the storm, the firm says.But the impact of the flooding likely will have an effect on home price
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