What's more, the for - sale inventory of existing homes will rise
as more home owners see equity again and show more willingness to sell.
As house prices continue to increase,
more home owners who can not meet mortgage payments can sell their homes rather than default.
The mortgage giant asks
why more home owners haven't taken advantage of lower interest rates by refinancing.
She also said the government needs to
help more home owners take advantage of low mortgage rates by refinancing their loans to reduce their monthly payments.
Mortgage rates have been hovering at record lows,
causing more home owners to lock - in the low rates by refinancing their mortgages again... and again.
By Melissa Dittmann Tracey, REALTOR ® Magazine
More home owners want more space in their kitchens and are expanding the kitchen's use for more than just cooking, according to the latest findings from the American Institute of Architects» quarterly Home...
As home prices rise, banks are touting home - equity lines of credit (HELOCs), trying to
get more home owners to take equity out of their homes.
But as
more home owners look to open up the cooking experience to the whole family, they might benefit from having a prep space that can be used by kids or adults who may be more comfortable sitting.
More home owners also want to incorporate local, recycled, and renewable materials, such as stone quarried nearby and reclaimed lumber, says landscape designer Laurie Van Zandt, whose firm, The Ardent Gardener is based in Huntsville, Utah.
Home equity lines of credit have increased in popularity recently as
more home owners realized they could use their built - up equity for other purposes.
While the front yard is key to making a good first impression,
more home owners spend time out back, so sellers should be sure lawns, shrubs, trees, and amenities like a fence and air conditioning condensers are maintained.
Nationwide, new foreclosure cases and repossessions have dropped by a third since last fall as banks, as greater scrutiny over banks» foreclosure procedures and
more home owners fighting back in court has slowed the pace.
The «Mortgage Forgiveness Debt Relief Act and Debt Cancellation» is expiring at the end of the year, which could
make more home owners think twice about doing a short sale, CNBC reporter Diana Olick reports.
A rise in home prices has
pulled more home owners out from underwater with the return of equity this year, NAR notes.
Strategic defaults are growing, with
more home owners choosing to walk away from their underwater properties even though they can afford the monthly payments.
A rebound in consumer confidence and economic growth in the new year should
allow more home owners to escape the «negative equity trap,» according to CoreLogic.
Many more home owners are finding themselves in this situation due to a number of factors, including job losses, aggressive borrowing against their home in the days of easy credit, and declining home values in a slower real estate market.
The White House's plan to help
more home owners refinance their mortgage into today's ultra low rates is gathering new support, providing a lift to what had been considered a stalled proposal, The Wall Street Journal reports.
In 2007 fewer home owners wanted increases in square footage and volume,
while more home owners wanted single - story floor plans, the AIA survey says.
«The lower operating and maintenance costs of energy - efficient homes are a compelling reason
for more home owners to incorporate green features in their remodeling designs,» says Sullivan.
Source: «Builders Began More Remodeling Projects in April, But Construction Spending Near 11 - Year Low,» Associated Press (June 1, 2011) and «Renovations Lift U.S. April Construction Spending,» Reuters News (June 1, 2011) Read More ▪ 6 DIY Updates That Can Increase Home's Value by $ 10k or More
▪ More Home Owners Show an Interest in Remodeling Again
«Mortgage - burning parties are back,» says the chief economist for Quicken Loans, who
says more home owners are opting to shorten their mortgages to take advantage of record low interest rates.
That's
why more home owners are beginning to ask retailers, manufacturers, and contractors what VOCs may be in the materials, products, and furnishings they bring into their homes.
REALTORS ® in San Diego helped the city launch a campaign to
get more home owners to install solar panels on their roofs, which promotes a healthier environment — a pillar of smart growth — said attendee Amy Del Nagro - Misko, an associate broker at Century 21 Horizon.
But necessity may be the mother of invention
as more home owners have seen the basement as underutilized square footage that can be improved, and for less than adding to an upper level.
The U.S. Treasury singled out CitiMortgage Inc., telling the bank it needed to make «substantial improvement» in its loan modification efforts through the Home Affordable Modification Program and to reach out to
more home owners who are eligible to receive assistance.
More home owners want spaces for hobbies and storage, and builders are taking notice by creating larger garages for multi-use purposes.
More and
more home owners are looking for possibilities to refinance their second mortgage.
Dubbed the HGTV - effect, more and
more home owners and buyers are spending money to get the shiny, sparkling kitchens that are splashed across magazine pages and on television shows.
With HGTV pumping out the real estate porn (hey man, I love that stuff) more and
more home owners are now trying to move on and up: focusing on bigger, more expensive and grander homes.
The Institute's first - quarter 2010 Home Design Trends Survey shows that
more home owners are favoring smaller spaces that are often cheaper to maintain.
To reach our goal, 8 million
more home owners will have to be added between 1995 and 2000.
As mortgage rates plummet to three - year lows,
more home owners are refinancing to lock in lower borrowing costs.
With more family members — adult children and aging parents included — moving in under the same roof in recent years,
more home owners are pressing for zoning law changes so they can better accommodate their growing households.
More home owners are turning to technology to help them plan and complete their home remodeling projects, according to a study by Planese Inc., a cloud - based application provider in home improvement.
More home owners are seeing the return of equity (more than 2.5 million homes saw positive equity return in the second quarter alone), which has prompted more people to list their properties.
The big reason for both hues is that
more home owners are fighting against «blandification,» according to Hart - Davidson.
More home owners are jumping on the home - automation trend, so show them these gadgets that are topping everyone's wish list.
More home owners and buyers are ranking energy - efficient and environmentally friendly home features high in surveys.
A study released last week by CoreLogic showed that
more home owners were regaining equity.