Homebuyer purchasing power pushes the recovery

This Market Chart presents a comprehensive overview of homebuyer purchasing power vacillation over the last two decades of declining rates, and predicts future trends as mortgage rates rise. Data courtesy of Freddie Mac and Standard & Poors The perfect home requires perfect timing Your client’s ability to buy a home depends on more than just…

The MID truth test

This article examines the arguments for protecting the mortgage interest tax deduction (MID), reveals who truly benefits from the subsidy and questions both its viability and actual use as a marketing tool by real estate brokers and agents. They doth protest too much One of the most contentious debates in the real estate industry is…

HAMP’s extended reach again falls short of homeowner relief

In order to fill vacant homes, real-estate investors who purchased a rental home during the housing bubble will soon be offered mortgage aid. This is the first time the Home Affordable Modification Program (HAMP) has been extended to include landlordsowning a one-to-four unit property which they do not occupy. Starting in May, SFR landlords may qualify for a maximum of four federally…

IS GEN Y STAGNANT, OR SIMPLY WATCHING AND WAITING?

Generation Y (Gen Y) is not moving — or so calculations based on recent U.S. Census Bureau data indicates. This trend among young adults has continued from the 1980s to today’s Gen Y, with increasing numbers of young adults remaining in their home states rather than moving to pursue loftier opportunities as previous generations did.…

Boomers postpone retirement, agents be ready

Baby Boomers continue to put off retirement, and their financial insecurities are also being felt across succeeding generations as more people face job uncertainty and the need to deleverage from their piles of debt. Only 14% of American workers are confident they will have enough money to retire comfortably, according to the 2012 Retirement Confidence Survey…

Escrow, the time for performance

This article discusses the purpose of an escrow to ensure that the expectations of the parties and terms of the transaction are met. This article is part of our Fundamentals of Real Estate Practice series. The execution of a purchase agreement Escrow is a process employed to facilitate the closing of a transfer of real…

Multi-family rentals spark real estate investment

Are you seeing an increase in multi-family housing investment in your market? The income property outlook has been dour since the Great Recession – with the exception of multi-family housing.  Jobs are not yet offered by businesses or governments sufficient to fill up unused industrial, office or retail space. Homeownership rates have decreased as foreclosures and shortsales continue…