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Real Estate

Survey: American Dream Varies by Gender, Age

NAR Daily News Magazine - October 12, 2017 - 11:00pm

Homeownership transcends gender and age differences as the highest ranking element of the American dream. But a report shows other...

Categories: Real Estate

Home Haunted? No Problem, New Survey Shows

RisMedia Consumer News - October 12, 2017 - 2:35pm

Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ now at blog.rismedia.com:

Would you ever live in a haunted home? A new survey from realtor.com® shows most folks won’t shy away from a spooky space—so long as the price is right.

In September, realtor.com surveyed more than 1,000 online respondents. The verdict? Thirty-three percent were open to living in a haunted house, 25 percent might be, and 42 percent are not open to the idea.

So what factors impacted these results? Let’s explore:

  • Forty percent of respondents indicated that they need a price reduction in order to choose a haunted home over a non-haunted home;
  • 35 percent require a better neighborhood;
  • 32 percent need larger square footage; and
  • 29 percent would do so if more bedrooms are involved.

Who minds a few spooky spirits if there’s a third bedroom, amiright? From the survey, 47 percent of participants indicate they would live in a home where someone died, 27 percent said they might, and 26 percent said they would not.

The survey also showed certain paranormal activities are preferred over others. Forty-eight percent of those surveyed didn’t mind a few cold or hot spots in their home, whereas 45 percent could get down with unexplainable noises, and 39 percent are willing to tolerate strange, freaky feelings in certain rooms. Thirty-five percent of folks could deal with shifting shadows, but only 20 percent were alright with levitating objects or the sensation of being touched.

Of those surveyed, 28 percent believed they already have lived in a haunted house, with 14 percent unsure and 58 percent quite sure they’ve never been haunted.

What do you think? Would you be willing to room with a ghoul for more square footage, a lower price tag or a finished basement?

View more from the survey.

For more information, please visit www.realtor.com.

Zoe Eisenberg is RISMedia’s senior content editor. Email her your real estate news ideas at zoe@rismedia.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Home Haunted? No Problem, New Survey Shows appeared first on RISMedia.

Categories: Real Estate

Buyers Aren’t Spooked by Haunted Houses

NAR Daily News Magazine - October 11, 2017 - 11:00pm

With inventories so tight, many consumers say they’re even willing to live in a haunted house. 

Categories: Real Estate

Study: City Living May Make You Healthier

NAR Daily News Magazine - October 11, 2017 - 11:00pm

Downtown may offer the healthiest living conditions for residents compared to those in the suburbs, according to a new study. 

Categories: Real Estate

Why Seller Clients Need a Counseling Session

NAR Daily News Magazine - October 11, 2017 - 11:00pm

Prepare your selling clients and ensure their best experience early on by holding a seller counseling session.

Categories: Real Estate

Millennials Not Ashamed to Live at Home

NAR Daily News Magazine - October 11, 2017 - 11:00pm

The stigma for living at home with parents is fading as the trend grows more common among 18- to 34-year-olds. 

Categories: Real Estate

‘YIMBY’ Movement Urges Affordable Housing

NAR Daily News Magazine - October 11, 2017 - 11:00pm

Young adults are forming a new movement known as YIMBY—“yes in my backyard”—as they advocate for more affordable...

Categories: Real Estate

Rent Price Hikes Are Getting Smaller

NAR Daily News Magazine - October 11, 2017 - 11:00pm

The markets where rents increased the most quickly in 2016 have slowed down by the most in 2017, according to data from Axiometrics.

Categories: Real Estate

Wildfires Threaten Thousands of Calif. Homes

NAR Daily News Magazine - October 10, 2017 - 11:00pm

So far, at least 17 people have died and more than 20,000 people have been forced to evacuate due to fast-moving wildfires in the state. One firm...

Categories: Real Estate

How Big a Gamble Is a Condemned Home?

NAR Daily News Magazine - October 10, 2017 - 11:00pm

It could be the deal of a lifetime or your client’s worst nightmare. But just because a house has been condemned doesn’t mean it...

Categories: Real Estate

As Rates Rise, Loan Demand Softens

NAR Daily News Magazine - October 10, 2017 - 11:00pm

Mortgage applications dropped across the board last week as interest rates surged to their highest levels since July.

Categories: Real Estate

Does Your Community Have a ‘Great Place’?

NAR Daily News Magazine - October 10, 2017 - 11:00pm

The American Planning Association recently announced the country’s 15 Great Places for 2017. Find out if your town can claim a street,...

Categories: Real Estate

Amazon Teeters Into Selling Homes… Kind Of

NAR Daily News Magazine - October 10, 2017 - 11:00pm

Shoppers on Amazon's online marketplace can now score prefabricated tiny homes via third-party resellers.

Categories: Real Estate

Owners, Appraisers More Eye-to-Eye on Prices

NAR Daily News Magazine - October 10, 2017 - 11:00pm

For the fourth consecutive month, the gap between homeowner and appraiser opinions on property values narrowed. Still, homeowners tend to believe...

Categories: Real Estate

Most Common Contingencies Buyers Request

NAR Daily News Magazine - October 9, 2017 - 11:00pm

The most common contract contingencies in August were related to the buyer obtaining financing, the homes passing inspection, and appraisal...

Categories: Real Estate

Couple Sues Neighbors for Copycat House

NAR Daily News Magazine - October 9, 2017 - 11:00pm

These Toronto homeowners raise the question of whether the design of your home is protected under copyright laws.

Categories: Real Estate

Mortgage Fraud Is Back on the Rise

NAR Daily News Magazine - October 9, 2017 - 11:00pm

See why it’s likely to only get worse.

Categories: Real Estate

3 Ways Your Site Turns Off House Hunters

NAR Daily News Magazine - October 9, 2017 - 11:00pm

Make sure your website isn’t turning off potential buyers with its search functionality. 

Categories: Real Estate

Buyers Upbeat About Future Inventory

NAR Daily News Magazine - October 9, 2017 - 11:00pm

Fannie Mae’s Home Purchase Sentiment Index matched an all-time high in September, as consumers show optimism for buying and selling. ...

Categories: Real Estate

Crowdfunding Your Way Into a Home

RisMedia Consumer News - October 9, 2017 - 2:11pm

Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ now at blog.rismedia.com:

Crowdfunding has appeared in the real estate industry in a variety of forms: house flip investing, mortgage payoff and down payment support. High fees and legality issues have made it difficult for the popular funding method to be taken seriously within U.S. real estate markets.

A new crowdfunding platform—HomeFundMe—was recently launched by CMG Financial, a privately-held mortgage banking firm. This could be a game changer, since it’s the first crowdfunding service approved by Fannie Mae and Freddie Mac.

Here’s what CMG financial says about HomeFundMe:

  • No fees for using the service (Anything deposited into HomeFundMe can be used towards the buyer’s down payment.)
  • Better loan terms, more buying opportunities and the possibility of getting rid of or lowering mortgage insurance
  • Potential to receive a grant ranging from $1,000 to $2,500 in exchange for completing required homebuyer education or housing counseling.
  • Matching donations ($2 for every $1) up to the grant limits once the counseling is completed

While over 100 people have already used the platform, Fannie Mae and Freddie Mac have only approved the service on a trial basis until June 2018. The mortgage giants are keeping a close eye on results before giving it their stamp of approval.

There are a few caveats, of course. Borrowers must first be pre-approved for a mortgage by CMG Financial in order to use the crowdfunding service, which is limited to $7,500 in gifted funds. The loan must also be a Fannie Mae- or Freddie Mac-approved loan (their 30-, 20- and 15-year fixed loans are eligible, as well). In addition, borrowers must earn less than their area’s median income in order to qualify for matching contributions/grants.

This method will force borrowers into CMG Financial’s rates and fees. Millennial and Gen Z buyers, who are most likely to use such a service because of challenges in obtaining a down payment, will not be able to shop around for the lowest rate—a huge snag that may turn off borrowers from the crowdfunding service.

While other services charge fees and may complicate loan processing, borrowers will have to compare costs, as they may be able to save by using an alternative lender.

Here are some other crowdfunding options:

  • HomeFunded: 5 percent usage fee on total funds and 2.9 percent for processing each transaction
  • GoFundMe: 5 percent usage fee per donation and 2.9 percent plus $0.30 for processing each transaction
  • FeathertheNest: 5 percent usage fee per donation and 2.9 percent plus $0.30 for processing each transaction
  • Honeyfund: No usage fee and 2.8 percent plus $0.30 for processing each transaction

Keep in mind that these services may come with additional gifting restrictions in the lending world. Most Fannie, Freddie and FHA loans only allow gifted down payment funds from family and close friends. Loan processing may also be more time consuming if using these services, and you stand the chance of being rejected by lenders.

Crowdfunding may be a quicker way of amassing down payment reserves, but it can be a complicated process—extending your mortgage commitment dates or even threatening your loan approval. It may, however, be a useful option for borrowers who are dealing with high student loan or other debt payments and can’t afford to save.

If given final approval, HomeFundMe may open the door to a widespread financial backing of crowdfunding services in the real estate industry.

Liz Dominguez is RISMedia’s associate content editor. Email her your real estate news ideas at ldominguez@rismedia.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Crowdfunding Your Way Into a Home appeared first on RISMedia.

Categories: Real Estate