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Home and Real Estate News

Millennials Intent on Homeownership

“More than three-quarters of millennial home buyers would consider an interest rate higher than the national average of about 7%,” the study found. NEW YORK – Most millennials are prepared to take drastic measures to buy a home, with 65% saying they would pay up to a 10% mortgage rate and 23% admitting they would buy at 15% or more, according to a new study from Clever Real Estate. A combination of…

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Home and Real Estate News

Owning in Some Florida Counties Beats Renting

A recent study found that homeownership is more affordable than renting in several Florida counties despite a nationwide trend to the contrary. NEW YORK – A new report shows that median three-bedroom rents in the U.S. are more affordable than owning a similarly-sized home in nearly 90% of local markets around the nation. The 2024 Rental Affordability Report was released by property data analytics company ATTOM. The report shows that both renting…

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Home and Real Estate News

Florida Chamber: State Population to Slow in 2024

The chamber also said the housing market will begin to stabilize to a new normal, and home prices will no longer spike. TALLAHASSEE – The state’s population will grow in 2024, but not as much as the previous year, and the population demographics will shift, Florida Chamber Foundation economists and researchers said during the organization’s annual economic outlook summit. The chamber said the state will grow by 225,000 to 275,000 net new…

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Home and Real Estate News

Engaging the Single Female Buyer

Single women have different buying considerations than those of other buyers, a Harvard University study found. NEW YORK – Real estate professionals should understand female buyers to be successful, including the preference for safe neighborhoods and gated communities. The Joint Center for Housing Research at Harvard University found that women prefer condominiums, townhomes or single-family homes within a gated or structured HOA development and a focus on unchangeable safety features within each…

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Home and Real Estate News

More Properties Listed, Supply Still Short

Active listings in the U.S. climbed 4.9% in December year over year, but for-sale inventory is still below pre-pandemic levels. LOS ANGELES — The recent pullback in mortgage rates is spurring more homeowners to put their homes up for sale, though the increases so far have been too modest to return the housing market’s inventory of available properties back to pre-pandemic levels. The number of active listings, a tally of U.S. homes…

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Home and Real Estate News

Average Long-Term Mortgage Rates Rise Again

Mortgage rates climbed to their highest level in four weeks, reaching 6.66%, Freddie Mac reported Thursday. Two years ago, the average rate was 3.45%. Mortgage rates climbed to their highest level in four weeks, reaching 6.66%, Freddie Mac reported Thursday. Two years ago, the average rate was 3.45%. LOS ANGELES — The average long-term U.S. mortgage rate rose for the second time in as many weeks, climbing to its highest level in…

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Home and Real Estate News

Homebuyers Should Understand Private Mortgage Insurance

PMI is often overlooked by buyers, so they need to be aware of the potential costs that come with putting less than 20% down. NEW YORK – According to Freddie Mac, the interest rates on 30-year fixed-rate mortgages averaged 6.95% in mid-December — double the rate paid by homeowners just two years ago. Although Freddie Mac projects the housing market will improve in 2024, many homebuyers will still face an additional expense:…

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Home and Real Estate News

Who Benefits from Reverse Mortgages?

Reverse mortgages – also known as Home Equity Conversion Mortgages (HECMs) – can help homeowners aged 62 and older. MIAMI, Fla. – A Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage, is a HUD-insured financial product that allows homeowners aged 62 or older to convert a portion of their home equity into cash while continuing to live in their homes. Unlike traditional mortgages, where you make monthly payments to…

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Home and Real Estate News

The FTC Is Sniffing Out Fake Testimonials Online

By Melissa Dittmann Tracey The Federal Trade Commission can fine companies up to $50,000 per violation for fake online reviews.  NEW YORK — An endorsement or testimonial from current or past clients can help you stand out, particularly online. However, the Federal Trade Commission has some guidance for how to use them in your business. This year, the FTC released new guidance about including endorsements or testimonials in your digital marketing, including social…

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Home and Real Estate News

HUD Says It Helped 94K Families Avoid Homelessness in 2023

The latest figures from HUD also show more than 93,000 people benefited from public housing and vouchers this year. WASHINGTON – The Department of Housing and Urban Development (HUD) said it worked with public housing programs nationwide to help more than 94,000 households exit or avoid homelessness in 2023. More than 8,200 households benefited from public housing and more than 85,000 others used housing vouchers. The White House said it has made progress…

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