Tech companies this year have been committing billions to responding to housing shortages in the Golden State. Apple is the latest, announcing this week that it would allocate $2.5 billion to help address the housing availability and affordability crisis in California.Homeownership in the Bay Area is at a seven-year low. Sixty-three percent of millennials surveyed earlier this year said they were considering moving out of California due to high h
Escalating home prices over the past eight years have propelled equity to record highs nationally, CoreLogic reports. Homeowners in nearly every state in the country have seen their equity grow. The West is seeing the largest growth. For example, Idaho homeowners gained an average of $22,000 per borrower; Wyoming owners saw a $20,000 gain; and Nevada owners saw a $17,000 increase, according to CoreLogic’s Home Equity Insights report.Only three
Homeownership may be key to achieving early retirement. A growing movement called “FIRE,” which stands for “Financial Independence, Retire Early”—an idea outlined in author Joe Dominguez’s 1992 bestseller Your Money or Your Life—lays out a way to retire early in your 30s or 40s. The plan focuses on stowing away 40% to 70% of your income, and then making smart investments to grow it. “Owning a home helps you build equity,
From landscaping to exterior finishes, there are plenty of ways to make your listing a standout in curb appeal. Houzz, a home remodeling website, recently showed off a few high-impact ways to boost a home’s exterior aesthetic.Paint the front door. Put a fresh coat of paint on the front door, which is what potential buyers will be seeing first. Also, consider an entirely new color for the front door to get attention. Black is a tr
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For the third consecutive week, the interest rate for the 30-year fixed-rate mortgage increased. The rise came despite the Federal Reserve cutting its key benchmark rate for the third time this year. The Fed’s interest rate often influences mortgage rates.However, home buyers are still taking advantage of historically low mortgage rates, Freddie Mac reports. “Purchase activity continues to show strength, indicating obvious homebuyer dema
While low mortgage rates have made it cheaper to buy a home, finding the right property remains a challenge for home buyers, realtor.com® reports in its October 2019 housing report. Would-be buyers are finding that a worsening inventory shortage is heating up competition in the housing market this fall.“Owning a home continues to be a priority for buyers as we head into the cooler months of the year,” says George Ratiu, realtor.com®’s sen
For the second time in as many years, Ben Caballero, broker-owner of HomesUSA.com in Dallas, has broken the Guinness world record for the highest number of home sales in a single year. He sold 5,801 homes in 2018—exceeding $2 billion in sales volume—which translates to an average of more than 100 home sales a week, or nearly 16 every single day of the year.Caballero also won the Guinness title last year after selling 3,556 homes in 2016. He b
From shiny kitchen cabinets to wooden ceiling beams, several home design trends aim to liven up neutral interiors in the new year. Home remodeling website Houzz recently asked designers to chime in about what design trends they expect to grow more popular over the next few months. Here are a few trends they flagged.High-gloss kitchen cabinetry. Flat-panel cabinets with a high-gloss finish are gaining popularity, Kimmie Rokahr, a designer wit
A surge in first-time home buyers is expected to hit the housing market over the next three years. About 8.3 million first-time buyers are projected to enter the mortgage market between 2020 and 2022, predicts a new report from TransUnion. That marks a jump from the 7.6 million first-time buyers that were added in the previous three-year period between 2016 and 2018.However, plenty of housing market challenges persist for new buyers, including hi
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