The average down payment for a home is decreasing, which could be good news for those looking to buy. Prospective buyers may need to save less money for a down payment, according to a new study by LendingTree.The average down payment amount for U.S. homes dropped in the third quarter by nearly 10 percent, falling from $52,480 to $47,265, the study shows. However, the overall average down payment percentages for conventional 30-year, fixed-rate
A larger number of Americans—notably fueled by millennials—entered homeownership during the summer months. The national homeownership rate rose to 64.4 percent in the third quarter—a half percentage point higher than a year ago, the U.S. Census Bureau reported this week.The increase was largely attributed to a rise in first-time buyers as more millennials entered homeownership. The ownership rate among those under the age of 35 climbed from
Home buyers may be so anxious to find a home that they aren’t even spooked if it’s rumored to be haunted. A new survey says one in three consumers say they’re willing to take a chance on a haunted home, but there needs to be something to sweeten the deal for them, according to realtor.com®’s annual Haunted Real Estate Report, based on responses from more than 1,000 Americans. However, 18 percent said a home that is haunted wouldn’t aff
You’re trying to sell a home that a former owner passed away in. Must you reveal that to home buyers, and will it give some buyers the creeps?In the majority of cases, with a peaceful death inside a home, “there’s no legal obligation in most states requiring that [sellers] disclose it,” Jason Wells, a real estate professional and attorney at Wells Law Group in Phoenix.Indeed, the majority of states do not require sellers or their real est
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Housing affordability is worsening due to higher mortgage rates, which is prompting a slowdown for what home sellers are able to get for their home. The U.S. median home price rose 4.8 percent in the third quarter, the slowest rate of annual appreciation since the second quarter of 2016, according to a new report released by ATTOM Data Solutions, a real estate data firm.“The continued slowdown in the rate of home price appreciation nationwide
More new homes are being built with patios, as homeowners show a greater craving for more outdoor space. About 58.6 percent of new single-family homes started in 2017 included a patio, according to an analysis by the National Association of Home Builders. That makes patios more common than decks (23.8 percent), but still shy of the popularity of porches (64.7 percent).The West South Central and Mountain regions of the U.S. tend to show the highes
Wells Fargo is back on top with the most mortgage originations in 2017, according to new rankings released by iEmergent, an advisory firm for the mortgage industry. iEmergent ranked mortgage originators based on loan volume for 2017 for single-family homes (the list does not factor in manufactured homes, multifamily, home improvement loans, or repurchases).The following eight mortgage lenders had the highest total volume of loans originated in 20
Realtor.com® invited one of the National Association of REALTORS®’ 2018 Good Neighbors to its offices in Santa Clara, Calif., for a wide-ranging interview about her volunteer efforts on behalf of children living in poverty and women with drug addictions living on the streets.The inspirational discussion between Ryan O’Hara, CEO of Move Inc., which operates realtor.com®, and REALTOR® Necia Freeman was broadcast live Friday to Move and NAR
What income is included in the calculation of the new 20 percent business income deduction? As an independent contractor or sole proprietor, you’re eligible for the deduction—part of the federal Tax Cuts and Jobs Act enacted last year—but do you know whether to take it before or after you account for marketing and other business costs?The IRS plans to release rules by December on how to apply the tax law changes to your situation. But that
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