The Nevada Partners & Culinary and Bartenders Housing Partnership has placed over 560 union families into homeownership since it was created in 2008 and provided approximately $4,000,000 in down payment assistance and closing costs.
Key Elements of the Program Include:
1. The down payment assistance loan up to $20,000 has a 0% interest rate.
2. You do NOT have to pay back the loan until you sell, transfer or refinance.
3. You must live in the house you buy (no second homes or vacation homes).
4. You must NOT have owned a home within the past three years.
5. You must contribute up to 3% of the purchase price.
6. Your combined household income can't be greater than $76,680 for a 1-2 household.
But some markets have yet to fully recover from the crisis
The U.S. housing market has gained back all $9 trillion in value lost during the 2007 recession, according to a recent Zillow report. Furthermore, the average U.S. home is now worth $55,200 more than it was at the bottom of the housing bust.
Zillow says West Coast markets have fared the best since 2007, thanks to robust job growth and low inventory that has pushed home values up. On the other hand, The Sand States (California, Florida, Arizona and Nevada), excluding California, have yet to fully recover from the disproportionate impact the housing bust had on them.
The median home in San Jose and Las Vegas dropped $190,000 in value during the recession, but today, homes in Las
There are so many home insurance companies out there that choosing the right one can be a challenge for most people. That’s because most of them offer almost the same services, but differ on details such as prices and the level of coverage. To help you out, here are 5 tips to choosing the right home insurance.
Understand what the policy will cover
This may sound surprising but most people have no idea what their home insurance covers. For you to choose the right home insurance, you need to understand what is usually covered. That’s because when you understand this, you will be in a position to negotiate for better terms, as well as get a separate insurance for the things that are not covered. Besides, with a good understanding
December existing-home sales dipped 3.6 percent month-over-month, but the year was still the best since 2006
Existing-home sales decreased 3.6 percent to a seasonally adjusted annual rate (SAAR) of 5.57 million in December — dipping from a downwardly revised 5.78 in November, the National Association of Realtors (NAR) reported today.
This month’s sales pace is 1.1 percent above December 2016 and is the strongest sales pace in 11 years.
A healthy economy drove buyer demand in 2017
The median existing-home price for all housing types in rose 5.8 percent to $246,800, making December the 70th month in a row to see year-over-year gains.
Total housing inventory fell 11.4 percentage points month-over-month to 1.48 million homes
The final quarter of 2017 was full of market-moving headlines, including a rise in the short-term Fed Funds Rate, which is the rate at which banks lend to one another overnight, along with the passage of the Tax Cuts and Jobs Act.
The tax bill energized markets, pushing U.S. Stocks to record highs. The rally was further bolstered by a solid economy and a strong labor market.
Historically, when Stock prices improve, Bond prices and the home loan rates tied to a type of Bond known as Mortgage Backed Securities often worsen. Despite the recent Stock-friendly news, home loan rates remained just above all-time lows.
If you’re planning on selling your home or you’re thinking about buying a new home, the listing price is one of the most important factors for success in either case. For the buyer, the listing price matters because a buyer wants to get the best home at the best price. For the seller, setting an appropriate listing price is often the difference between selling their home, and having it sit on the market longer than desired.
Before you settle on a home or a listing price for the home you’re selling, it is important to evaluate the listing price against certain factors to ensure the price is fair and adequate. Here are five listing price considerations to keep in mind when buying or selling a
Homeowners aren't selling, and the prospect of rising rates could encourage them to 'lock-in' and stay put
Mortgage rates are expected to rise this year, aggravating the already-vexing problem of not enough existing homes on the market, according to a panel of economists speaking last week at the International Builders Show in Orlando.
Among the experts there was no consensus on rates other than that they are poised to increase. But Frank Nothaft, the former chief economist at mortgage giant Freddie Mac who now wears the same hat at CoreLogic, pointed out that those homeowners with mortgages at lower than the prevailing rate are thinking twice about putting their homes up for sale. “Realtors call it the lock-in effect,” he said.
Smart home technology is growing rapidly—it’s expected to be a $130 billion industry by 2020. Predictably, millennials are leading the smart home charge, but all demographics are enjoying the powerful features these devices can offer.
What exactly is a smart home device? These are connected devices that combine artificial intelligence (AI) and Wi-Fi connectivity to help automate or streamline features and tasks in homes. Examples include smart lighting to automate your lights, smart speakers to control other devices and smart TVs that stream media and learn what you like to watch.
To help you better serve your clients, here are some of the key things buyers and sellers should know when it comes to smart home devices.
