THE BABY BOOM GENERATION STARTED REACHING the traditional retirement age of 65 in 2011. The reverse mortgage industry had long been preparing for a dramatic increase in demand in long-anticipated wave of new retirees. But just as Boomers were beginning to retire, Wells Fargo, Bank of America and MetLife Bank — the top three reverse […]
Making $ense of Real Estate: More affordable homes is a good thing
THE CALIFORNIA ASSOCIATION OF REALTORS RECENTLY RELEASED the third quarter results of the Housing Affordability Index, the most fundamental measure of the health of housing in California, and the results show continuing good news for the prospects of California real estate. The statewide index rose to 36, meaning roughly 36 percent of households could afford […]
Making $ense of Real Estate: A leg up for 1st-time buyers
FOR MANY YOUNG PEOPLE, the dream of homeownership seems to be elusive if not impossible. Numerous studies and surveys indicate that increasing numbers of young families are putting off the idea of buying a home. The median age of home buyers is on the rise and the percentage of younger families buying their first homes […]
Making $ense of Real Estate: Rebuilding communities together
MOST PEOPLE HAVE HEARD OF HABITAT FOR HUMANITY, the organization that builds homes and helps low-income families become home owners. I had the opportunity to volunteer last week with a similar organization but with a very different mission. Rebuilding Together primarily serves folks who are already homeowners, helping them in the renovation and modification of […]
Making $ense of Real Estate: Interesting turn of events
EVERYONE HAS BEEN EXPECTING INTEREST RATES TO INCREASE for many months now, so why did they take a sharp turn down over the last couple of weeks? And where are they headed next? Interest rates are tied to the global economy. The Federal Reserve loosens the money supply to keep rates low and tightens the […]
Making $ense of Real Estate: Retirement planning
RETIREMENT IS SOMETHING to which most of us look forward and are hoping will be a long period of many active and healthy years. As the boomers age, they are being faced with two issues. The first is assisting their elderly parents and then figuring out their own plans for retirement. Fortunately, there are resources […]
Making $ense of Real Estate: First of more to come?
WHEN THE HOUSING MARKET CRASHED AND SHATTERED THE GLOBAL ECONOMY, Americans were mad as hell at Wall Street and the banks for getting us into the mess. As a result, Congress enacted the Dodd-Frank Wall Street Reform and Consumer Protection Act. To implement the reforms called for in the act and to provide enforcement, a […]
Making $ense of Real Estate: The finger pointing continues
AS THE ECONOMY SLOWLY GRINDS ITS WAY TOWARD RECOVERY, the housing market continues to improve, but evidence shows that the pace of home sales and value appreciation is slowing. One critical element in a healthy housing environment is low- and moderate-income buyers. These home buyers are typically younger and often purchasing their first home. Many […]
Making $ense of Real Estate: How to sell
AS THE REAL ESTATE MARKET COOLS and begins to find a level of normal, some folks who are looking to sell are finding that their homes are sitting on the market for weeks without even a nibble, while others sell within days — and with multiple offers. Why do some homes sell quickly while others languish […]
Making $ense of Real Estate: Defining ‘normal’
Recent data show the rapid pace of home price appreciation slowing. According to the CoreLogic Home Price Index report, values were still improving in July but at a more moderate pace of 7.4 percent when compared to July 2013. Values were up 1.2 percent in July when compared to June. Home values nationwide are now […]