This saying is especially applicable with real estate transactions. Even those that have bought or sold several homes rarely do it often enough to keep up with all the complexities of a real estate transaction. For most people, buying a home is one of the largest purchases (and financial commitments) they will ever make. You need to make sure that...
Millennials. Many were raised during the housing crisis and the recession. Their childhood experiences in a down market has shaped their outlook on home ownership. At least, that was the prevailing belief. A few years ago, it looked as though the millennial generation was rather uninterested in buying a home. In 2013, NAR was releasing reports showing a gradual, year-to-year, conspicuous...
You bet it does! At the most basic level, it provides shelter and security to families. But, there is a lot more to it than that, and here are some facts about homeowners from the National Association of Realtors, Federal Reserve Board, and the US Census Bureau: They are more likely to vote, They volunteer their time more frequently for charitable causes, They...
Mark Trenka chair of the Colorado Association of REALTORS Legislative Policy Committee testified before Colorado law makers earlier this week regarding Colorado's construction defects law. This big hurdle prevents building more entry-level housing, and is a defect in state law that exposes home builders and homeowners to a high risk of expensive, time-consuming litigation. It has created a climate that puts the chill on new...
All real estate licensees are not the same. In Colorado every real estate broker is licensed by the State, but only those licensees who are members of the National Association of REALTORS® are properly called REALTORS®. By joining the REALTOR® Association, members have agreed to subscribe to a strict Code of Ethics and are expected to maintain a higher level of knowledge...
According to many sources, oil price drops can be good for housing. But, there are some downsides. Here’s our analysis. Written by Steve Murray, REAL Trends publisher If you’ve been to the pump lately, you’ve surely had sticker shock in a good way. Another positive thing about oil price drops is that, experts say, it’s a good thing for the housing market....
More than 68 million single-family and condo households, about 87 percent, would qualify for down payment assistance available in the county where they are located. That's why CAR, in partnership with Down Payment Resource, has made available a portal through which both members and prospective homeowners can research their eligibility for various down payment assistance program based on property information, household...
Colorado Housing and Finance Authority (CHFA) announced this week that it is now offering its down payment assistance for homebuyers in the form of a non-repayable grant. The program will provide qualified borrowers with down payment and closing-cost assistance for up to 5 percent of the purchase price of a home.With Colorado home prices having increased by six percent in 2014...
Marijuana is becoming legal in more states, which may make it tougher for landlords seeking to enforce their own bans. As the movement to legalize marijuana blazes through the nation, landlords and building managers may be wondering whether the right to ban the drug from their properties is going up in smoke. The truth around the issue is a bit hazy. State...
Reduction to increase credit affordability and reflectsimproved economic health of FHA WASHINGTON – As the nation’s housing market continues to improve, U.S. Housing and Urban Development Secretary Julián Castro today announced the Federal Housing Administration (FHA) will reduce the annual premiums new borrowers will pay by half of a percent. This action is projected to save more than two million FHA homeowners an average of $900 annually and...