The equity of homeowners ages 62 and older has reached an all-time high, according to the latest index reading from the National Reverse Mortgage Lenders Association report. Seniors saw their housing wealth grow by 2.7% or $104 billion in the first quarter of this year, reaching a $7.14 trillion record.The increase in elderly homeowners’ wealth was mostly attributed to an estimated 2.4%, or $110 billion, increase in senior home values.As older
The living room is one of the most popular and central areas in a home. And a few easy updates can instantly transform it into an inviting space.Apartment Therapy recently interviewed interior designers to learn some of the latest trends in living room design. Here are a few trends they noted:1. Offer up a more relaxed vibe.The living room is getting less formal in its design, moving away from some of the modern straight edges that have been
1. Planting trees too close to the home.Homeowners may not realize how big a tree will grow as it matures and plant it too near the property. “Plant them several feet away from your home so their limbs won’t rub against your home,” Melissa Okabe, a real estate professional at Alta Properties in Los Angeles, told Apartment Therapy. “Overhanging limbs can also damage the roof, and spreading roots might damage the foundation.”2. Failing at
While housing affordability has been getting a hand from lower mortgage rates, it wasn’t enough to lift new-home sales last month.Sales of newly built single-family homes underperformed in what is traditionally the busiest time of year in the housing sector. New-home sales dropped 7.8% to a seasonally adjusted annual rate of 626,000 units in May, the U.S. Commerce Department reported Tuesday. The number represents signed contracts, not closings
Government officials in some cities want to make it easier and less expensive to raise homes near coastal areas that suffer from repeated flood threats.Flooding is a threat to low-lying coastal communities. Federal flood insurance premiums are rising, and many believe they will continue to do so over future years.“The seas are rising … The flood maps continue to get updated, and more homes are in coastal high hazard areas,” Brandi Gabbard,
Fannie Mae and Freddie Mac, the sponsored government enterprises that support the bulk of U.S. mortgages, are making it easier to buy a manufactured home, but observers say not enough of the public may be enticed.A year ago, Fannie Mae debuted a program that essentially regards high-end manufactured homes the same as on-site homes when it comes to financing. Freddie Mac followed suit in the spring. Fannie and Freddie hope that by offering more re
Metros that were once overlooked are proving to be popular places for LGBTQ consumers to live in, according to a new survey from realtor.com®. San Francisco continues to take the top spot, but members of the LGBTQ community are increasingly choosing places that also have strong antidiscriminatory laws and policies in place.“The LGBTQ community will identify a town or neighborhood and will turn it into a safe haven for thems
The U.S. Supreme Court ruled on Friday that property owners can challenge government access to their land, which some view as a major victory for property rights.The court’s ruling stemmed from a case involving a Pennsylvania woman, Rose Mary Knick, whose land the town of Scott Township used in 2013 to access an old burial ground. Knick didn't grant the town permission to come on her property, and she sought damages in court for what she viewed
The era of real estate-focused reality television is encouraging too many homeowners to put aesthetics before function in their remodeling projects, industry experts note in a recent Forbes.com article. For example, the trend toward no-door kitchen cabinetry, which has been made popular by home improvement shows, isn’t a smart choice for a homeowner who isn’t a neat freak or who doesn’t have matching dishes.“Everyone wants a kitchen or ba
As homes age, more homeowners are looking to remodeling to spruce up their properties. Of the nation’s stock of 137 million units, nearly 80% are at least 20 years old, and 40% are at least 50 years old.Freddie Mac says its new mortgage product is to help home buyers finance or refinance fixer-uppers. Eligible buyers will be able to finance the purchase of their home and the cost of renovations into a single-close mortgage.“Research indicates
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