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What’s Up With Housing?

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One reason for the increase is that many lenders allowed borrowers affected by Irma to skip a payment.
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The pioneering geriatrician Dr. Bill Thomas is developing the Minka tiny home to create an assisted-living model completely on seniors’ own turf and terms.
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Smart CitiesAT&T’s Smart City Vision: More Parking, Fewer Traffic Jams.
Managing traffic flow, locating open parking spots and seeing whether bridges are structurally sound are some of the potential benefits from AT&T’s latest push to power the smart city.
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The forecast predicts a growing economy and positive demographic trends, creating opportunities in the housing market despite the affordability challenges buyers will face from rising prices and mortgage rates.
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Houzz’s 2018 Kitchen Trends study revealed that homeowners are obsessed with clutter-free countertops and ingenious storage options.
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2018 Construction ForecastConstruction Industry Set for a Boom in 2018.
Job creation, increased spending, and high optimism in the construction sector suggests that 2018 will be a big year for builders. For all of 2017, construction added 210,000 jobs, a 35 percent increase over 2016.
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Owning a home always has been, and always will be, a crucial part of attaining the American Dream.
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What’s Up With Housing This Week?

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Skinny HomesSt. Petersburg’s middle-class housing dilemma may have an answer: Skinny Homes
It’s a new name for an old concept found in many other cities like Chicago, Charleston, New Orleans and Nashville. Think of a two-story gussied-up shotgun house.

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Suburbia's FutureThe American Dream of suburbia is evolving — here’s what it’ll be like to live in the suburb of the future.
Since the 50s, the American Dream of suburbia included a huge home, white picket fence, and shiny car. How will that dream change over the next decade?

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Mortgage RatesEven with Mortgage Rates Inching up, Now is Still the Time to Buy.
Though you may have missed getting the lowest mortgage rate ever offered, you can still get a better interest rate than your older brother or sister did ten years ago, a lower rate than your parents did twenty years ago, and a better rate than your grandparents did forty years ago.

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National Association of Home BuildersBuilder Confidence Hits 12-Year High…
“Builders continue to face a number of challenges, including rising material prices, higher mortgage rates, and shortages of lots and labor.”

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MortgagesWhy are there so few mortgages in Tampa Bay these days?
Along with the dramatic drop in Tampa Bay foreclosure filings has been this equally striking if less-noticed trend — a huge decline in new mortgages.

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Spring Buying SeasonWhat Can Buyers Expect in the Spring Housing Market?
Higher mortgage rates and low inventory among the things the potential buyers can expect to see.
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Housing News of Interest

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Florida Association of Realtors4 out of 5 people think homeownership a good investment.
NAHB: “Most Americans believe owning a home remains an integral part of the American Dream” – policymakers need to encourage and protect homeownership.

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Trending Bathroom PhotosTop 10 Trending Bathroom Photos on Houzz
Whether you love sleek contemporary washrooms or rustic loos, Houzz has you covered. Here are great ideas featured in the most popular bathroom photos over the past three months.

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Janet YellenThe Case for a Rate Hike Has Strengthened…
The case for raising U.S. interest rates has strengthened in recent months because of improvements in the labor market and expectations for moderate economic growth, Federal Reserve Chair Janet Yellen said Friday.
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Urban Millennials

Millennial Preferences Are Reshaping U.S. Cities
’18-hour cities’ lure millennials with better career and lifestyle options and a mix of housing, retail, entertainment and green-space options.

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PRO LogoPinellas County Real Estate Statistics for July 2016
This summer the Pinellas County Housing Market has been nothing short of sizzling. For July we see some stats start to cool off, but every indication remains that our market continues to be strong.

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Construction DetailsSuccess is in the Details: Understanding Your Product at a Micro-Level
When it comes to selling homes, our knowledge of the building process can be the difference between making a successful sale and not.

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http://www.TitleSecurityFL.com

 


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Harvard Study: 5 Reasons Why Owning A Home Makes Sense Financially

The American Dream

We have reported many times that the American Dream of homeownership is alive and well. The personal reasons to own differ for each buyer, with many basic similarities.

Eric Belsky, the Managing Director of the Joint Center of Housing Studies at Harvard University expanded on the top 5 financial benefits of homeownership in his paper –The Dream Lives On: the Future of Homeownership in America.

Here are the five reasons, each followed by an excerpt from the study:

1.) Housing is typically the one leveraged investment available.
“Few households are interested in borrowing money to buy stocks and bonds and few lenders are willing to lend them the money. As a result, homeownership allows households to amplify any appreciation on the value of their homes by a leverage factor. Even a hefty 20 percent down payment results in a leverage factor of five so that every percentage point rise in the value of the home is a 5 percent return on their equity. With many buyers putting 10 percent or less down, their leverage factor is 10 or more.”

2.) You’re paying for housing whether you own or rent.
“Homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord.”

3.) Owning is usually a form of “forced savings”.
“Since many people have trouble saving and have to make a housing payment one way or the other, owning a home can overcome people’s tendency to defer savings to another day.”

4.) There are substantial tax benefits to owning.
“Homeowners are able to deduct mortgage interest and property taxes from income…On top of all this, capital gains up to $250,000 are excluded from income for single filers and up to $500,000 for married couples if they sell their homes for a gain.”

5.) Owning is a hedge against inflation.
“Housing costs and rents have tended over most time periods to go up at or higher than the rate of inflation, making owning an attractive proposition.”

Bottom Line

We realize that homeownership makes sense for many Americans for an assortment of social and family reasons. It also makes sense financially. If you are considering a purchase this year, contact a local professional who can help evaluate your ability to do so.

Compiled by The KCM Crew… Keeping Current Matters.


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Recent Housing News

TS November 3, 2015 Coffee CornerReminder that our Coffee Corner this Tuesday (Nov 3rd) will provide all the latest “Hows & Whys” of Home Inspections and how Insurance relates to them.  Learn important information on how these items are affected by the new TRID rules.

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Multigenerational LivingWill Boomers Be Moving Back In With Their Kids?  Rising rents have been cited as a reason millennials aren’t moving out of their parents’ basements. But higher rents could force some boomers to move in with their children.

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Buy vs. RentIt is strikingly cheaper to buy a home, rather than rent, in the Tampa Bay market.

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American DreamWill Millennials embrace the “American Dream” of home ownership the way their parents and grandparents did? 

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Millennials Should Buy NowWhy millennials should buy a home today if financially able…

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Shortage of Buildable LotsBuilders say a shortage of developed lots is crimping housing construction.  Part of what’s driving the trend is overly prescriptive regulations, as well as a limited amount of liquidity available to buy lots.

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FHA rules for financing condo salesFHA rules for financing condo sales draw protest from 56 House members. FHA’s mission is affordable housing for people who need it. But ‪FHA‬ has set the [condo] system up to fail.
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http://www.TitleSecurityFL.com

 


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Recent Housing News

The American Urban DreamThe attainability of the American Dream at the metropolitan level. Intergenerational Mobility varies tremendously across cities in the United States, and these differences offer clues about which factors matter most for mobility.

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Jumbo Mortgage Tax TipsTips for Tax-Savvy Jumbo Mortgage Homeowners.
With nearly three months left in 2015, jumbo-mortgage borrowers can make tweaks to cut their tax bill in April.

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Florida RealtorsGreat News… Mortgages for ‪Multi Generation‬ Families.
A new Fannie Mae mortgage rule makes it easier for multi-generation families to buy a home because it also considers the salaries of the non-buying relatives.

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Housing Recovery?Has U.S. Housing and Real Estate Finally Recovered? Hedge fund manager, Metacapital Management founder Deepak Narula, is pretty bullish on the housing market, calling the fundamentals “very solid.”

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Housing News: A Week In Review

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American DreamThere are many reasons that owning a home makes sense. The financial reasons are powerful.

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Student Housing 2015This year looks even better for the Student Housing‬ business.

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Getting The Right MortgageGetting the Right Mortgage: Jumbo Trends
The best deal for a borrower trading up to a bigger house may differ from the one for a first-home buyer.

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Young BuyersRealtors need to serve younger clients differently… 
Older clients tend to rely on an agent’s real estate advice, but younger buyers prefer to get the info directly from a data source such as websites.

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Renters Buying Homes5.2 Million Renters Plan to Buy in the Next Year — A 25% Increase Over Last Year

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