Retirees should consider factors that include living closer to family and safety issues when determining if now is the right time to downsize. NEW YORK – Your home is your sanctuary, but it’s also one of your biggest budget items. And after you retire, it may feel like more house than you need. But in … Read more
The best way to start a home search is by keeping a top 10 list of essentials and deal breakers. Also, consider your lifestyle, pets, location needs and necessary features, among other things. NEW YORK – Looking for a house to buy can be a daunting task. Buying a home is typically the most significant … Read more
New home sales in the United States dropped slightly in February but are up 5.9% from a year ago. The slight uptick in mortgage rates held back new home sales, but builder confidence remains high. WASHINGTON – Sales of newly built single-family homes in February dipped slightly for the first time in three months after … Read more
Anyone who is self-employed and receiving payments from peer-to-peer apps (PayPay, Venmo, etc.) have new tax reporting changes for the 2024 tax year. NEW YORK — Workers across different industries are increasingly receiving some or all of their income via apps. They include tutors, graphic designers, hair stylists and all kinds of independent and self-employed … Read more
Selling a home before moving into an assisted living facility presents challenges not seen in other moves. Family members can help navigate the process to make it run smoothly. NEW YORK – Families must make a number of important decisions when an aging relative decides the time is right to move into an assisted living … Read more
MIAMI — South Florida saw the highest number of condominiums selling out to developers since the pandemic. More buyouts are in the pipeline, raising questions about the future of South Florida’s skyline. Miami-Dade and Broward saw 18 condo buyouts last year, the highest number since 2019 when both counties had a total of 23 buyouts, … Read more
President Joe Biden called for a $10,000 tax credit for first-time homebuyers and the construction of two million homes during his State of the Union address Thursday. WASHINGTON – President Joe Biden called for legislation that will lower homeownership costs, build millions of new homes nationwide and reduce rental costs. Biden, in his State of … Read more
Check the paperwork and read for context. “Non-recourse” is more of a description of how a loan works than a direct term, so it could be described differently. FORT LAUDERDALE, Fla.– Question: We took out a reverse mortgage in 2011 and I thought I understood how it worked. However, having reviewed the documents, I cannot … Read more
Fannie Mae: Homeowners aged 60+ like their homes and expect to age in place. Many feel good about their retirement financial plan and view home equity as a reserve. WASHINGTON – Older homeowners aged 60-plus years like their homes, many view the equity in those homes as a financial reserve, and a significant share are … Read more
HUD and Census Bureau: In Jan., new single-family home sales rose 1.5% month-to-month to a seasonally adjusted rate of 661,000. The pace is up 1.8% from Jan. 2023. WASHINGTON – Sales of new single-family homes in January increased 1.5% to a 661,000 seasonally adjusted annual rate from a downwardly revised reading in December, according to … Read more
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