Home Buying
When millennial’s battle boomers over housing
In “Generation Priced Out,” Randy Shaw examines how boomers have blocked affordable housing in urban neighborhoods, leaving millennial homebuyers in the lurch. The baby boomer/millennial housing mismatch is well known: As boomers age, an upcoming glut of suburban and exurban homes will stand empty and unwanted, leaving both generations at a loss. Downsizing empty-nesters won’t find buyers,…
Read More5 mortgages that require no down payment or a small one
If you want to buy a house but don’t have a lot of money for a down payment, don’t lose heart. Your dream of homeownership is still attainable. Homebuyers who can’t come up with big down-payment money have options. There are mortgagesavailable for a low down payment or even no down payment. Check out five options for…
Read MoreSelf-made millionaire: Not buying a home is the single biggest millennial mistake
While opponents of homeownership claim it’s “the American nightmare,” self-made millionaire David Bach is doubling down on his faith in real estate. He thinks that not prioritizing homeownership is “the single biggest mistake millennials are making.” Buying a home is “an escalator to wealth,” he tells CNBC. Young adults in particular aren’t hopping on this escalator, and…
Read More5 Bathroom DIY Projects For Weekend Warriors
Dreaming of a bathroom update? Don’t wait until you can hire a professional to get the upgraded bathroom you desire. With some simple DIY projects, you’ll enhance your home’s value and functionality in just a weekend (or less). Project 1: Shower overhaul Many people are surprised it doesn’t take weeks for a shower update. Convenient…
Read MoreMillennials Show a Growing Preference for New Homes
Among general housing preferences, there is a noticeable upward trend in the percentage of millennials who desire a new home built for sale offered by a builder, according to a recent study by the NAHB Economics team. Between 2007 and 2018, the percentage of millennial home buyers who prefer a new home increased from 28%…
Read More6 Traits Customers Look for in a Home Builder
When it comes to hiring a building contractor, customers want to feel confident they have picked the right one … after all, they are about to entrust the builder with their home. They want to choose someone who is dependable, affordable and effective at making their dream home renovation or build out a reality. So,…
Read MoreAre you a homeowner seeking forbearance on your mortgage? Watch out for these red flags
Homeowners are asking for breaks on their mortgage payments in droves, as millions of Americans face the prospect of unemployment or reduced income because of the coronanvirus pandemic. But requesting forbearance on your mortgage isn’t foolproof. The CARES Act stimulus package requires servicers to provide forbearance — a temporary postponement of payments — to any homeowner with…
Read MoreShould You Lend Your Kids Money for a Home Down Payment?
Mortgage rates have repeatedly hit record lows in recent months, which theoretically makes it a great time to purchase a new home. Unfortunately, property values have also gone up due to high demand and limited supply. With homes so much more expensive, many first-time buyers will struggle to come up with the funds to make a down payment — even…
Read MoreMillennials, Unlike Their Parents, Are Looking at Home Buying Differently
Millennial homebuyers are becoming a “dominant force” in the high-end housing market, according to a report by Bloomberg. Millennials buying their first home will pay 39 percent more than baby boomers did in the 1980s, according to a study by Student Loan Hero. That’s causing many millennials to wait longer to buy homes, so they can save…
Read MoreHow Credit Scores are Calculated
Credit scores are so important to people’s financial lives that it’s only natural to wonder: “Just how is my credit score calculated?” You’ll be relieved to know that a lot of people don’t fully understand what determines a credit score, and that’s okay! Our team at 1st Securities has the answers, and hopefully by the…
Read More