Adjustable-rate mortgages, one of the main culprits of the housing crisis, are back in vogue. But banks say this time is different. Financial groups are sweetening terms to entice customers to take out these loans, known as ARMs, whose rates can jump after a few years. Some ARMs are cheaper, when compared with fixed-rate mortgages, than they have been in more than a decade. The tactics are reminiscent of the period before the 2008 crisis, when ARMs exploded in popularity as banks and mortgage brokers touted … [Read more...]
Archives for March 2014
Buying a Home 38% Cheaper Than Renting – But How Risky Is It?
March 17, 2014 by Leave a Comment
Though the gap is narrowing, buying costs less than renting in all 100 large U.S. metros. But uncertainty about future home price appreciation means buying isn’t always a safe bet. Homeownership remains cheaper than renting nationally and in all of the 100 largest metro areas. Rising mortgage rates and home prices have narrowed the gap over the past year, though rates have recently dropped and price gains are slowing. Now, at a 30-year fixed rate of 4.5%, buying is 38% cheaper than renting nationally, versus … [Read more...]
Everything a Man Space Needs
March 16, 2014 by Leave a Comment
Power recliner? Check. Bar and pool table? Of course. Get the comfy hangout you deserve with these masculine-leaning finds With college basketball’s March madness upon us, we thought it would be the perfect time to give a nod to the man caves of the world. They will be in big demand this month when sports enthusiasts gather around the tube to see if their teams win or lose. After all, there is a payday on the line for the person who scores the perfect winning bracket.Man spaces come in many forms: the masculine … [Read more...]
Generational Differences Drive Housing Preferences?
March 16, 2014 by Leave a Comment
Younger home buyers tend to view their home as a strong investment, more so than older buyers who tend to view their homes as a match to their lifestyle, according to the 2014 NAR Home Buyer and Seller Generational Trends study, based on a survey of more than 8,700 responses from buyers and sellers. The survey provided an in-depth look at the generational differences of recent home buyers and sellers. The largest group of recent buyers is millennials, those under the age of 34, who comprised 31 percent of … [Read more...]
Open House Marketing: 4 Things Sellers Should Avoid
March 16, 2014 by Leave a Comment
Most of us are all too familiar with the television channel HGTV (Home & Garden Television) with its lavish home remodels and spunky hosts. Although it has given the common man both firsthand glimpses into the ins and outs of home maintenance and great tips for buying and selling a home, it has also provided a dramatic exaggeration of real-life residences and homeowners. And when it comes to open houses, the TV entertainment may have on display fine art showings and free-flowing Champagne. Even though … [Read more...]
Phoenix-area home prices projected to stabilize in ’14
March 16, 2014 by Leave a Comment
Home values climbed across metro Phoenix again in 2013, and many neighborhoods saw double-digit increases. More than half of all the ZIP codes in Maricopa and Pinal counties posted their biggest annual increase in home prices since the crash, according to The Arizona Republic's latest Valley Home Values Report. The median sales price was $205,000 on Dec. 31, compared with $164,000 in December 2012. Prices also rose 35 percent in 2012, meaning prices are back to about 2003 levels for most people. Overall, … [Read more...]
