Mortgage financing giants Fannie Mae and Freddie Mac are reportedly considering providing financing to buyers of manufactured homes soon in a pilot program.The government-sponsored enterprises say they want to look at easing the burdens of low-income borrowers who may turn to factory-built homes to curb housing costs, according to a draft report released Monday where Fannie and Freddie addressed affordable housing challenges. Fannie and Freddie s
Luxury real estate buyers may find bargains in the U.S. compared to the rest of the world. The U.S. is hardly the most expensive when it comes to home prices in its luxury market.Instead, China takes the world crown in that arena for the fastest-rising prices in luxury residential real estate around the world. Luxury home prices in Guangzhou, the capital of the southern province of Guangdong, rose a whopping 36.2 percent from March 2016 to March
With home prices on the rise, more home values are climbing up above water, but in a few cities, the number of seriously underwater homes is still alarming.Profile of Seriously Underwater HomesThe following are some characteristics of properties that are seriously underwater, according to ATTOM Data Solution’s report. 8% of properties with an estimated market value of $100,000 or less were seriously underwater; 9.3% of properties valued between
Soaring home prices aren't denting investors' appetite in many markets. "We are seeing more investors and new investors," says Steve Hovland, director of research at HomeUnion, a real estate investment marketplace. "The Fed has really been helping us out. Interest rates are not as high as they have been in past cycles. Commercial real estate is overheated. The bull stock market has been running for a long time, so investors are looking to diversi
Kitchen upgrades have overtaken bathroom updates as the remodeling project homeowners want most, according to the National Association of Home Builders' Remodeling Market Index report covering the first quarter of 2017. Bathroom renovations previously held the number one spot, but kitchen redos barely pulled ahead in the most recent report.NAHB's survey showed these are the most common jobs for remodelers: Kitchen remodeling: 81% Bathroom remodel
Several states are offering homeownership assistance programs to recent college grads that may help them receive thousands of dollars toward the purchase of a home. In New York, Gov. Andrew Cuomo recently announced the "Graduate to Homeownership" program, which provides assistance to first-time buyers who have graduated in the past two years from an accredited college or university with an associate's, bachelor's, master's, or doctorate degree. P
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Homeowners with a bad credit score can expect to pay double—in some cases, even nearly triple—what owners with solid credit pay for their home insurance, according to a new state-by-state study by insuranceQuotes.Policyholders with fair credit pay an average of 36 percent more than those with excellent credit, the study found. When a consumer's credit is poor, premiums can more than double, increasing an average of 114 percent.“Many consume
Renters want to make a place their own and fit their style, but it may cost them their security deposit.“If you decide to paint the walls while you are there, you must return them to their original color or the landlord is within their rights to use the deposit to pay for it themselves,” Trent Zachmann of Renters Warehouse told realtor.com®.Most landlords treat unapproved modifications and improvements made by renters the same as accidental
New-home construction is now taking place at around 1.2 million units annually, a welcome pickup to many buyers following years of slumps after the Great Recession. But a tight labor market means the workers have yet to return, and that lack of labor is increasing construction costs.When construction activity gained steam in 2012, the problem started to surface, and it has increased ever since, according to industry reports.“The share of builde
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