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Homeownership Stays Below 67%
The percentage of U.S. households that owned their homes remained at 66.9 percent in the third quarter, unchanged from the second quarter, the Census Bureau said Tuesday. The homeownership rate held steady for decades at 64 percent, but climbed to 69 percent in 2004. Since the housing bubble burst in 2006, it has declined steadily.... Continue reading→
Housing Starts Rise in September
Spending on construction rose 0.5 percent in September with home building and government projects leading the way, the U.S. Commerce Department reported Monday. Spending on home building rose 1.8 percent, but the increase was offset by spending on commercial construction, which dropped 1.6 percent. Overall, non-residential construction was at the lowest level since January 2005.... Continue reading→
Find Homes by Zipcode
Are you looking for a home in a particular ZIP code? A ZIP Code is a category for grouping mailing addresses and thus ZIP codes are not exact geographic regions. That means that ZIP Codes are only loosely tied to cities. In some cases, ZIP Codes can overlap, be subsets of each other, or be... Continue reading→
Remodeling the Laundry Room Can Add Value
Remodeling a laundry room can add a surprising amount of appeal and value to a home. Here are some key steps: Pick a decorating style. A laundry room doesn’t have to be institutional. Giving it personality increases appeal. Add convenience. Starting with a laundry detergent dispenser, make it easy to get the job done. Choose... Continue reading→
5 Traits of Today’s Home Buyers
A survey by American Lives, a consumer research firm in California, conducted a study for the trade magazine Builder to answer that question. Here are their conclusions: They are young. Most are under 45. Half said they had annual household incomes of $75,000 or less. Two-thirds are married. They are frugal. They consistently told surveyors... Continue reading→
Housing Experts Rethink Suburban Development
Two housing experts called for public policies that emphasize urban living at the expense of suburban and exurban housing in an extensive proposal in the current issue of Washington Monthly. Patrick C. Doherty, director of the Smart Strategy Initiative at the New America Foundation, and Christopher B. Leinberger, a professor at the University of Michigan,... Continue reading→
5 Steps to Remodeling Done Right
Here are five steps to developing a great relationship with a remodeling contractor. 1. Let the contractor know if you are ready to remodel or just kicking the tires. Gary Palmer, a Charlotte, N.C.-based general contractor, says seeking multiple bids is fine, but don’t waste his or her time by letting the bidding process drag... Continue reading→
Play It Straight With Marketing Services Fees
Real estate brokers marketing the use of a preferred lender, title company, or other settlement service provider should take care to avoid RESPA violations that can be incurred when marketing fees exceed the reasonable value of the services performed. These services include signs inside or outside the sales office and homes up for sale; e-mail... Continue reading→
Avoid 10 Mistakes First-Time Home Buyers Make
Buying a home can be an arduous process and it’s especially challenging for first-time homebuyers. However, with a few words of advice and some smart planning, you can get the home you want (and what can afford!) no matter if it’s your first house or fifth. First-time homebuyers can make many errors because they aren’t... Continue reading→
Mistake 10: Disregarding the future.
It’s important to pay attention to all the information you have available to you because it will help you avoid unpleasant surprises down the road. Be sure to ask questions about the property before buying. Some questions you might want to ask the current owner and/or yourself include: What kind of development plans are in... Continue reading→