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Record Number of Homeowners Live in HOA Communities

Record Number of Homeowners Live in HOA Communities

A new housing report shows 73.9 million Americans reside in a community with a homeowners association or condominium board. That is more Americans than ever, according to the Foundation for Community Association Research. California now leads the nation with 49,200 associations, followed by Florida, with 48,500; Texas, with 21,000; Illinois, with 18,800; North Carolina, with […]

Remote Workers May Seek Retirement Housing Early

Remote Workers May Seek Retirement Housing Early

As more work is done remotely, some Americans are deciding to make an early move to their retirement locale. Many employers are offering employees the option to work from home for the rest of the year due to the COVID-19 pandemic, and some have adopted remote work as a permanent option. Freed from the bounds […]

Investors Ready for ‘Bonanza’ in Housing

Investors Ready for ‘Bonanza’ in Housing

Single-family landlord giants are expecting a surge in repossessed homes as millions of homeowners have fallen behind on their mortgage payments and may be at risk of losing their homes once eviction moratoriums end. The Wall Street Journal reports that landlords are waiting for a “potential bonanza” of distressed properties as well as the emergence […]

Home Sales Hit 2006 Levels, ‘Continue to Amaze’

Home Sales Hit 2006 Levels, ‘Continue to Amaze’

Home sales climbed in August to the likes of the 2006 housing boom days, despite the COVID-19 pandemic. Existing-home sales in each of the four major regions of the U.S. saw month-over-month and annual growth, the National Association of REALTORS® reported on Tuesday. The Northeast saw the largest monthly improvement in home sales. Housing inventories […]

Create the Most Inviting Outdoor Space

Create the Most Inviting Outdoor Space

No matter how big or small a home, terraces, porches, or backyards are skyrocketing in importance to buyers and owners. After sheltering in place from the COVID-19 pandemic, more homeowners are looking to extend their spaces to the outdoors. House hunters may be putting more weight on listings that have a yard with cozier spaces […]

‘I’d Risk COVID-19 Exposure for My Ideal Home’

‘I’d Risk COVID-19 Exposure for My Ideal Home’

A surprising number of house hunters have declared just how important it is to find their dream home during the global health crisis, even at the risk of their own health. In a recent survey conducted by Helitech, a foundation repair company, 37% of 980 buyers said they’d “risk COVID-19 exposure to obtain my dream […]

Mortgage Rates Remain at All-Time Low

Mortgage Rates Remain at All-Time Low

The 30-year fixed-rate mortgage stayed at its record low this week, offering an opportunity for home buyers to lock in the lowest rate in Freddie Mac’s records dating back 50 years. The 30-year fixed-rate mortgage averaged 3.13% this week. The mortgage market has seen a resurgence in applications for home purchases in recent weeks. “The […]

FHFA Won’t Require Lump-Sum Payment After Forbearance

FHFA Won’t Require Lump-Sum Payment After Forbearance

The Federal Housing Finance Agency, which regulates mortgage giants Fannie Mae and Freddie Mac, said Monday that it will not require homeowners who take mortgage forbearance due to financial hardship from the COVID-19 pandemic to make up the missed payments in a lump sum. The FHFA made the announcement after news stories cautioned that homeowners […]

How COVID-19 Is Affecting the New-Home Market

How COVID-19 Is Affecting the New-Home Market

The new-home market was showing a strong first quarter in 2020 until the pandemic hit. Sales of newly built single-family homes decreased 15.4% in March to a seasonally adjusted annual rate of 627,000 units, according to data released Thursday from the U.S. Census Bureau and Department of Housing and Urban Development. Sales were 9.5% lower […]

Homeowners Facing Hardship Get Mortgage Payment Leeway

Homeowners Facing Hardship Get Mortgage Payment Leeway

Mortgage giants Fannie Mae and Freddie Mac unveiled a payment deferral option for homeowners struggling to make their mortgage payments, regardless of whether the reason is related to COVID-19. Homeowners could be eligible to defer two months of their mortgage payments until the end of their mortgage, depending on their circumstance. The GSEs had intended […]