As part of an effort to increase the supply of affordable housing in New York City, the New York City Department of Housing Preservation and Development, Commissioner Louise Carroll, Settlement Housing Fund, the Community Preservation Corporation, and the New York City Acquisition Fund recently announced the first acquisition of a property through the city’s Neighborhood Pillars Downpayment Assistance Fund.
Are you smarter than a smart home? Maybe “dumb as a doorknob” is about to be a joke of the past. From doorbells, locks and blinds, the home just got smarter.
Certain home sales of $400,000 and under may soon not need an appraisal, as federal regulators are close to approving a proposal to increase the threshold at which residential home sales require an appraisal for the first time since 1994.
While the number of Millennial homeowners is rapidly increasing, a recent survey from LendEdu showed that 42% have yet to buy a house. That doesn’t mean they don’t want to. The survey delved into the many reasons Millennials have for not owning a home, from finances to simply not knowing how mortgages work.
Hurricane season is in its peak, yet one in four homeowners still say they have made no preparations. In fact, the majority of homeowners largely underestimate the cost of hurricane-related damage.
Sales of new homes fell in July, according to the Census Bureau and HUD. While July’s rate was 12.8% below June, it’s important to note that June’s figures were upwardly revised to a rate of 728,000 and remains 4.3% higher than a year earlier when it was 609,000. The correction of June’s figures is a substantial one. When the data initially came out last month, the report showed that new home sales increase 7% over May. Now, the new data shows that new home sales actually rose by more than 20% in May.
While most people who move tend to stay relatively close to where they were before, that doesn’t mean that others aren’t willing to pack up and move to a whole new city or state. New data from Realtor.com shows that the typical homebuyer may only move up to 15 miles away from home, but others are attracted to metros that offer housing affordability, strong employment and other factors.
In some markets, you can get a lot for your money. In others, well, it’s the opposite. Here are the 25 housing markets where buyers have to pay the largest percentage of their income to afford a house.
LeaseLock recently hired Ed Wolff as the company’s new chief revenue officer. In his new role as CRO, Wolff will help lead all of LeasLock’s enterprise sales, account management and marketing functions. Reichen Kuhl, founder and CEO of LeaseLock, said Wolff’s vast experience uniquely positions him to accelerate the company’s overall growth.
Toll Brothers, the largest U.S. luxury homebuilder, reported purchase agreements fell 3% nationally in the third quarter from a year earlier, and in California, where some of its priciest developments are located, contracts plummeted 36%. Toll’s average home price was $882,648 in the quarter, the company said.