South Florida On The Market

A new report shows that the current economic climate was a factor in the large increase of multi-generational households. A new poll by Generations United shows that 66 percent of adults believe the economy has influenced more family members to share a roof, and 21 percent reported that they think it was the only factor. The number of Americans living in multi-generational households jumped 10 percent since 2007, with a record 51.4 million individuals of all ages living in said households, according to the source. The survey reports that 40 percent of polled adults reported that job loss, a change in job status or underemployment as a reason, while 20 percent said healthcare costs prompted the formation. Fourteen percent reported that foreclosure or other housing loss initiated the change. Additionally, many agreed that there should be more government programs and policies in support of multi-generational households, while 63 percent said that social security plays a vital role in t

The housing market has shown to be improving steadily from recent reports, and while the winter is typically known as a bad time for sellers, Inman.com says it could be the best. The source says that homeowners with property already on the market should keep it on and homeowners debating listing should go for it. Sellers don't often put their homes on the market at the end or beginning of the year, so as the amount of competition dwindles down, a new home on the market could be appealing for potential buyers. The source suggests that the home be move-in ready, as potential buyers are most likely looking for an easy move during the holidays. Additionally, current mortgage rates and low average home prices are often very appealing to potential buyers. According to the source, the supply and demand of homes plays a large role in the odds that a home is ready to be on the market, while the health of the local housing market is always more important than the national market.

Results from Freddie Mac's Primary Mortgage Market Survey show that fixed mortgage rates have met or are near all-time-lows. The 30-year-fixed matched the average all-time record low of 3.94 percent for the week ending December 15. This number is down from last week when it averaged 3.99 percent and much lower than last year's reported 4.83 percent. A new record was set for 15-year-fixed mortgage rates, at 3.21 percent. This is down from last week's average of 3.27 percent and 4.17 percent reported this time last year. The previous record was recently set in October of this year. The 5-year-adjustable-rate mortgage also set a new all-time record low at 2.86 percent. "Mortgage rates were at of near all-time record lows this week amid a rough environment for housing," said Frank Nothaft, Freddie Mac's vice president and chief economist of Freddie Mac. Many economists predict that the continuance of low mortgage rates and new record-lows will help convi

1. Location counts. You've probably heard the old real estate joke about "location, location, location," but the point still bears repeating. Location is crucial. How far are you really willing to commute to your place of employment? How good are the local schools, shopping centers, public transportation, seniors services and other public amenities? Will your new home be next to a vacant lot or a commercial property? Even a picture-perfect dream home can be a mistake if it's in an undesirable location, and a poor-location home can be a particularly bad choice if you anticipate reselling the home within a few years. 2. Make a list . Do you (and your spouse, if you're married) really know what you need and want in your home? You'll save yourself many hours of shopping (and potentially arguing) if you make a list ahead of time. Zero in on the features you must have, would like to have, definitely don't want and would prefer not to have. Your goal is to fin

1. The purchase When buying your own home, most of the expenses are not tax deductible. But there is one exception that is worth finding. The IRS says you can deduct interest in the year that it is paid, and that is usually part of each monthly loan payment. In addition, if the day you purchase is on any day other than the first of the month, you will likely pay a charge for "daily interest" between the day of closing and the end of the month. Look on line 901 of your HUD settlement statement. Much more importantly, the IRS says that, in most cases, loan discount points and origination fees are tax deductible to the buyer, regardless of who pays them. Look at lines 801 and 802 of your settlement statement and see if you hit the jackpot. This is a particularly unusual deduction because you get the benefit even if the seller paid your closing costs. And because origination fees of 1% and more are common, this can amount to a lot of cash. 2. Mortgage interest In genera

If you are a first time homeowner, or are purchasing a home after a major life change such as marriage or having children, what should you consider to be sure your new home can grow with your changing family? The time and effort that go into purchasing and decorating a new home, not to mention finding it in the first place, means that you’ll want to ensure that your home will be right for you and your family for years to come. So what should you look for in your new home so that it will give you enjoyment and be functional both now and in the future? Size Though a cute two-bedroom home may be right for a newlywed couple, this type of space will likely soon be outgrown if there are any children in your future or if you and your spouse like to entertain. You will also want to consider the number of bathrooms and the facilities in them. Having only one toilet or shower can certainly put stress on a growing family. Features Special features of a home, such as a finished basement, cen