Changes in Federal Housing Administration (FHA) eligibility requirements will now make many condominium units available to first time home buyers.
An FHA guaranteed mortgage is the loan of choice for many first time home buyers. Low down payment requirements, easier credit underwriting and even the availability of down payment assistance programs make FHA a popular option for first timers.
Condominiums are attractive market entry options but only 6.5% of the nation's condo units are approved for FHA lending. In an effort to provide access to affordable housing, FHA has changed their processes and now allows for review of individual condominium units with a "spot approval" review.
National Snapshot: How’s the Real Estate Market?
The U.S. unemployment rate is at a 50-year low, and consumer confidence remains high. In fact, the University of Michigan’s latest Surveys of Consumers found that Americans have their most positive personal finance outlook since 2003.1
However, if you follow national news, you’ve probably heard speculation that we could be headed toward a recession. Global trade tensions and a slow down in the GDP growth rate have sparked volatility in the stock market, leading to economic uncertainty. Given these differing signals, you may be wondering: How has the U.S. housing market been impacted? Where is it headed? And more importantly … what does it mean for me?
Will Your Remodel Budget Pay Off?
What are the best (and worse) renovations for your remodel budget?
Most new homeowners have something about their property that they want to change. And as family needs and design trends shift over time, many will eventually choose to remodel. Some homeowners make updates to their property before listing it to maximize their potential sales revenue. Whatever your reasons are for taking on a home improvement project, it’s wise to consider how the money you invest will impact your home’s value.
5 Step Strategy for Downsizing Your Home
In our “bigger is better” culture, there’s an expectation that each home should be larger and grander than the last. But life changes like divorce, kids leaving for college, or even the simple act of growing older can prompt us to find a smaller home that better suits our shifting needs and lifestyle.
In fact, the advantages of downsizing are being increasingly recognized. A “tiny house movement” has gained passionate advocates who appreciate the benefits of living simply at any age and stage of life. Not only does a smaller home typically cost less, it also takes less time and effort to maintain.1
Whatever your reasons are for downsizing, the process can seem overwhelming. That’s why we’ve outlined five steps to guide you on your journey. And in the end, we hope you’ll find that less is more … more comfort, more security, and more time and energy to spend on the activities and the people that you love.
Serious About Selling? 5 Steps to Make Your Home the Best on the Block
We all want to be good neighbors. But when it comes to selling your home, it’s not just about “keeping up with the Joneses.” It’s about outshining them at every opportunity!
If you’re looking to sell your home fast and for the most money possible, you’ll need a strategy to set it apart from all the other listings competing for buyers in your area. That’s why we’ve outlined our proven, five-step plan for serious sellers.
Use these five tactics to help your listing get noticed, win over buyers, and net a higher sales price than your neighbors!
