Posts Tagged ‘home’

Home Flipping Volume Rises to 9-Year High

Posted on June 19, 2017 by Laura Lam

ATTOM Data Solutions’ Q1 2017 U.S. Home Flipping Report revealed that 43,615 single family homes and condos were flipped during Q1 2017, which was an 8% decrease from the previous quarter and a 6% decrease from a year ago. Home flips in Q1 2017 accounted for 6.7% of all single family home and condo sales during the quarter, up from 5.8% in the previous quarter and unchanged from a year ago. A home flip is defined as a property that is sold in an arms-length sale for the second time within a 12-month period.  One-third (33.3%) of all single family…

New Home Mortgage Apps Rise 3% in September

Posted on October 21, 2016 by Laura Lam

The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for September 2016 shows mortgage applications for new home purchases increased 3% relative to September 2015. Compared to August 2016, applications decreased by 7%. This change does not include any adjustment for typical seasonal patterns. “After a strong start in 2016 and despite evidence of increasing costs, mortgage applications for new homes have maintained a pace modestly above 2015 rates,” said Lynn Fisher, MBA’s Vice President of Research and Economics. “The monthly decline in mortgage applications in September is largely attributable to typical declines in building activity this time of year….

Another Round of Defaults Plague HAMP

Posted on March 16, 2015 by Saldutti

The Home Affordable Modification Program continues to disappoint.  As of Dec. 31, 1 in 3 struggling homeowners who received a loan modification through HAMP ultimately re-defaulted on those loans, a new report has found.  Meanwhile, the program that was supposed to help some 4 million families avoid foreclosure has helped only a fraction of that amount, according to a report the special inspector general for the Troubled Asset Relief Program, Christy Romero, presented to Congress.   Funded through the Troubled Asset Relief Program, HAMP was created in 2009 as a way to help millions of homeowners who had fallen behind on…

Now or Later? Prioritizing Your Debts

Posted on December 15, 2014 by Saldutti

We often hear about good debt and bad debt. That’s probably because we’d all be depressed if financial experts went around referring to bad debt and worse debt. After all, it’s challenging to live without owing somebody something. If you want to buy a house with cash, by the time you save up enough, it may be time to head to the retirement home. If you’re saving up to buy a car free and clear, you may have to spend a lot of years riding the bus. Most people get through life by borrowing money. So, sure, there’s good debt…

What Does it Cost to Live the American Dream?

Posted on July 10, 2014 by Saldutti

No idea is more central to Americans’ outlook than the American dream – the belief that with hard work and the freedom to pursue your destiny you can achieve success and provide better opportunities for your children. Historian John Truslow Adams, who coined the term, called it “the greatest contribution we have made to the thought and welfare of the world.” It has inspired millions of people from every corner of the globe to come here in search of liberty and opportunity. But the financial crisis, housing bust, and Great Recession have caused more of us to worry that the…

Recovery Aftermath: The Decline of New Households

Posted on May 22, 2014 by Saldutti

Americans are swimming in debt and that’s holding back the economy, says Cardiff Garcia, U.S. editor of financial news site, FT Alphaville. By the end of the first quarter U.S. households were $11.65 trillion in debt, according to the New York Fed. That’s bigger than the GDP of any country or region in the world except the U.S. and the European Union. The fastest growing debt category: student loans, which top $1 trillion. Pew Research reported that four in ten U.S. households (37%) headed by an adult younger than 40 have student debt. Households with student loan debt have a…

The American Dream in 2013: What Does it Mean?

Posted on October 25, 2013 by Saldutti

When you hear the word “American Dream,” what comes to mind?  Is it your 2.5 kids playing inside a white picket fence? Is it turning your business idea into a profitable company by age 30? Is it a gold watch and nap-filled retirement by age 65? In a new study, LearnVest and Chase Blueprint sought to define the American Dream today, asking people around the country what it means to them. Is it achievable? If so, for whom? And while we’re at it, in the wake of the recession, does the American Dream still exist? Here is an interesting infographic…

The New American Dream

Posted on September 09, 2013 by Saldutti

A great number of Americans are redefining the American Dream. That was the takeaway from a recent Credit.com poll, which showed that nearly 1 in 4 people between the ages of 18 and 24 defined the American Dream as being debt-free. Shockingly, that’s more than those who dream of owning a home. Once upon a time, the American Dream was a Technicolor affair, replete with two and a half thriving, college-bound kids, a dog or cat and not one, but two cars in the garage that were owned outright, or would be before they were ready for the crusher. Finally,…

Responsible Ways to Pay Down Your Mortgage

Posted on April 08, 2013 by Saldutti

So you’re interested in a mortgage where you have lower interest rates, an earlier payoff date, and smaller monthly payments. Good news: There are a number of smart and financially sound ways this can be accomplished, according to national mortgage expert and “Your Home – Your Future radio show host, Joe Gross.  “But you want to make sure that you choose one that will best fit your particular financial situation,” he adds. Although everyone’s needs and financial situations differ, there are some facts about paying off your mortgage that apply across the board.  Check out Yahoo! Homes’ list of 5…

What's It Worth?

Posted on June 14, 2011 by Saldutti

The Monetary Value Of A Happy Marriage Economists David Blanchflower and Andrew Oswald calculated the “compensation value” of life events like employment and marriage by surveying 100,000 Americans and Britons from the 1970s to the 1990s.  In terms of happiness, they found that marriage was worth an impressive $100,000 annually.  Meanwhile the psychological value of employment is worth $60,000 annually.  New York Times columnist David Brooks mentioned this study in his new book, The Social Animal: The Hidden Sources of Love, Character and Achievement. But he went a step further: People vastly overvalue work, money, and real estate. They vastly…