A new program allows employers to help workers' down payment on a home, similar to how companies contribute to a 401(k).HomeFundMe, a Fannie Mae and Freddie Mac-approved down payment crowdfunding platform, allows borrowers to crowdfund their down payment from several sources, including their employer. CMG Financial, a mortgage banking firm, created the HomeFundMe program. Employers can contribute directly to employees’ HomeFundMe accounts to
Despite rising prices, buying a home makes more sense than paying increasingly high rents in more than half of the U.S. Buying a median-priced home is more affordable than renting a three-bedroom property in 240 of 447—or 54 percent—of U.S. counties analyzed, according to a new report released by ATTOM Data Solutions, a real estate data firm.Renting a three-bedroom property requires an average of nearly 39 percent of weekly wages across the
The cryptocurrency bitcoin is increasingly coming into play in real estate transactions across the globe. One recent listing describes a 9,000-square-foot beachfront Malibu home on the market for $45 million, and the owner says he’s willing to accept bitcoin as part of the payment from a buyer.“I’ve been interested since [bitcoin] started, and I’m always watching what’s going on,” Wei Tzuoh Chen told CNBC. “It’s going to be the
In some situations, it might make sense to actually increase the list price to get buyers’ attention, according to a new article at realtor.com®. The article provides several scenarios where increasing the asking price may be justified on a home for sale, including:Market conditions have changed since the home was first listed. When comparable properties start selling for more than the list price, raising a home’s price may actually garner
Technology has been a disruptor in the real estate industry, as more customers head online. But while it may cause many brokerages to rethink how they do business, technology has proven a huge differentiator as well, David Marine, senior vice president of marketing at Coldwell Banker, said during the session “Every Company is a Tech Company” at CES 2018 in Las Vegas on Wednesday.“Technology has helped the real estate industry better compe
The lack of affordable and buildable lots is hampering housing production, according to a survey released by the National Association of Home Builders this week at the NAHB International Builders’ Show in Orlando, Fla.Seventy-nine percent of prospective buyers say they can only afford half the homes in their markets.“These potential buyers see a problem with housing availability,” says Rose Quint, assistant vice president of survey research
With steep competition, some buyers are scrambling to come up with larger down payments to gain a competitive edge.“In many purchase situations, there are multiple offers, and the buyers who have the bigger down payment are more likely to win out,” Daren Blomquist, ATTOM Data Solutions’ senior vice president, told The Wall Street Journal.The median down payment for home purchases that were financed in the third quarter of 2017 soared to a
California Association of REALTORS® CEO Joel Singer led a panel of industry experts Wednesday in search of ideas for how to move the multiple listing services industry forward. “Can this current structure survive?” Singer asked after outlining the many issues MLSs face, from technology to competition and changing consumer behavior. “Should this current structure survive, if it doesn’t alter?”Art Carter, CEO of California Regional Mult
Denver is utilizing its overflow of high-end rental apartments to house teachers, medical technicians, and others who are unable to afford skyrocketing rents in the city, The Wall Street Journal reports. Average rents in Denver have surged 30 percent over the past five years, according to MPF Research.City officials and other organizations in the area are unveiling a program, the Lower Income Voucher Equity program (or LIVE Denver), that will
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