Nation Takes Aim at Veteran Homelessness

Nation takes aim at veteran homelessness

Just last week, the city of San Francisco opened up a new veterans housing complex, giving 722 local veterans homes. According to Mayor Ed Lee, the city will open another 128 be the end of this year.

On a larger scale, Senator Richard Burr (R-North Carolina) and Sen. Jon Tester (D-Montana) recently introduced the Homeless Veterans Prevention Act, a bill that would allow veterans to take their children along when using assistance housing. In the past, most housing programs only allowed veterans themselves in housing units, a shortcoming that made it hard for parents—particularly women—to participate.

In September, the Five Star Institute will do its part toward ending veteran homelessness by hosting its…

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First-time Buyers Account for 60 Percent of Home Purchases

First-time Buyers Account for 60 Percent of Home Purchases

The share of first-time homebuyers continues to rise, now accounting for almost half of all GSE purchase loans and more than 80 percent of FHA loans, according to the May 2017 Chartbook, released by the Urban Institute’s Housing Finance Policy Center on Wednesday.

According to the Chartbook, 47.1 percent of all GSE purchases loans were first-time homebuyers in February 2017, while a whopping 82 percent of FHA loans came from first-timers. When combined, about 60 percent of all purchase loans for the month of February were from first-time buyers—just below the 2009 peak of 63 percent.

For the first time in 10 years, the creation of new-owner households outpaced new-renter households. The…

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Home Prices Hit New Peak

Home Prices Hit New Peak

After the 59th straight month of appreciation, home prices have hit another peak, according to the latest Home Price Index (HPI) report released by Black Knight Financial Services on Tuesday. The national HPI now sits at $272,000.

Home prices also hit new peaks in eight states, including Indiana ($151,000), Massachusetts ($381,000), New York ($371,000), North Carolina ($207,000), Pennsylvania ($222,000), Tennessee ($194,000), Texas ($234,000), and Washington ($360,000). Prices hit new peaks in 15 major metro markets, too, including Boston, Dallas, Houston, Los Angeles, San Francisco, Seattle, and more.

Since the start of 2017, home prices have jumped 2.3 percent. Between February and March, they rose 1.3 percent, and over…

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8 Ways to Test Out a Home Before Making an Offer

8 ways to test out a home before making an offer

When in the bathroom of a prospective home, check the water pressure and how fast the water heats up.

From testing the shower to scoping out storage space, here’s how to investigate important features that you can’t judge from a listing.

While that newly renovated condo looks great in photos, what’s really behind that Chicago, IL, real estate listing could be too good to be true. When it comes to assessing a potential new home, the savvy buyer knows to relentlessly sleuth for any hidden problems. Like you would at a car dealership, test drive your potential future home for important features that easily go unnoticed. 
That…

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Immigration’s Affect on the Housing Market

Immigration’s affect on the housing market

Every year, the United State’s real estate market is becoming more culturally diverse. According to Alex Nowrasteh, immigration policy analyst from the Center for Global Liberty and Prosperity, stemming from immigration, the interest from foreigners alone will strengthen home sales activity and price. The National Association of Realtor’s (NAR) Danielle Hale, managing Director of housing research, was joined by Nowrasteh at the 2017 Realtors Legislative Meetings and Trade Expo to discuss the current and future impact foreign buyers have on the U.S. Housing Market.

According to Nowrasteh and the 2015 American Community Survey, of the roughly 321.4 million residents in the U.S., 278.1 million are native, and…

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High Down Payments Alter Young Homebuyer Priorities

High Down Payments Alter Young Homebuyer Priorities

According to the latest Merrill Edge® Report, 63 percent of millennials are looking to achieve the amount of savings or income necessary to live their desired lifestyle, whereas most (55 percent) Gen Xers and baby boomers are instead saving to leave the workforce.

What the survey found is that millennials are more focused on personal achievements, such as dream jobs and travelling, than “traditional,” long term life milestones, such as marriage and parenthood.

“This spring’s report shows us even more differences between how millennials and their parents view and save for the future,” said Aron Levine, head of Merrill Edge. “Young adults tell us they are willing to do whatever it takes to…

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Home Prices Still Rising, Inventory Still Dropping

Home Prices Still Rising, Inventory Still Dropping

On Wednesday, at 9 a.m. EST, the Federal Housing Finance Agency (FHFA) will release its House Price Index (HPI) for March. The Index covers single-family housing, using data provided by Fannie Mae and Freddie Mac.

Previously, the FHFA reported in its February HPI that home prices rose 0.8 percent month-over-month. In the report, January’s former unchanged index was revised to a 0.2 percent increase.

On a seasonally adjusted national level, prices are now nearly 10 percent higher than their March 2007 peak. Prices have seen a compound annual growth rate of 3.5 percent since 1991, 3.4 percent since 2000, and 6.2 percent since 2012.

Out of all nine census divisions, the Mountain region saw the…

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Homes are Shrinking Again

Homes are Shrinking Again

New single family homes are have been shrinking, according to the National Association of Homebuilders (NAHB).

According to Q1 2017 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area was slightly lower at 2,389 square feet. Average (mean) square footage for new single-family homes declined to 2,628 square feet.

According to the data, home sizes reached a plateau in 2015 and 2016 after experiencing a steady rise post-recession, but have started to drop off since. The current average home size is 2,624 square feet, 10 percent higher than the cycle low. The median size is 14 percent higher, at 2,402 square feet.

NAHB

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Falling Housing Inventory Stock is Troubling

Falling Housing Inventory Stock is Troubling

National Association of Realtors, a trend that continued into April.

"The inventory is reaching historic lows. It's never declined faster than it did last month. It's freaking us out—it's affecting our business; it's limiting our sales," said Redfin CEO Glenn Kelman, on CNBC. "We're going to be fine in terms of market share, but I think the overall industry for the first time is seeing sales volume really limited by the inventory crunch."

Data from Redfin shows that homes in April sold the fastest since 2010, and sold 10 days faster than a year previously. Many homes, one in four, sold above their list price. Kelman puts the blame partially on an unwillingness to sell, as many homeowners choose to…

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5 Reasons to Look Up the Address While House Hunting

Be a Detective: Google the Address When House Hunting

It doesn't hurt to be a little curious — especially when you're searching for a new home.

Search-engine sleuthing is worth the effort to unearth the niceties — and perhaps negatives — when searching for your new home.

There’s probably not a day that goes by that you don’t Google something — the weather, a foreign phrase, directions, or news, just to name a few. With all the information Google can provide through its bird’s eye view, not Googling your address is practically a crime — especially when you’re searching for a new home (whether you’re house-hunting for a waterfront home in Fort Lauderdale, FL, or looking for a ranch house in Houston, TX). Here’s what you could find.

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