A new program being piloted in west Denver sets out to help low-income homeowners build accessory dwelling units, or “granny flats,” onto their homes to then rent out and earn extra money as landlords. The program hopes to add more affordable units will help to address the area’s housing shortage.Mortgage financing giant Fannie Mae is funding the program, selecting it as one of three “innovative ideas” submitted by city officials this y
Borrowers saw a slight cool down in mortgage rates this week following last week’s seven-year high. The 30-year fixed-rate mortgage dipped for the first time after five consecutive weeks of increases, averaging 4.71 percent.But the higher rates may be deterring some would-be home buyers. “The strength in the economy has failed to translate to gains in the housing market as higher mortgage rates have contributed to the decrease in home purchas
U.S. home prices in the third quarter were at the least affordable level since the third quarter of 2008—a 10-year low, according to ATTOM Data Solutions’ Q3 2018 U.S. Home Affordability Report. Researchers calculate affordability based on the percentage of income needed to purchase a median-priced home compared to an area’s historic averages.Seventy-eight percent of the 440 U.S. counties analyzed had homes that were less affordable than th
Even if they’re part of an entertainment activity, you can still take tax deductions on your business meal expenses, the IRS clarified in temporary guidance issued this week. The real estate community has been anticipating this clarification, which REALTOR® Magazine reported on last week.The tax reform law, which was enacted at the start of the year, ended deductions for business-related entertainment, amusement, or recreation but created u
The number of homes for sale in the country is starting to flatten, which realtor.com® researchers say is signaling a “crucial inflection point for the inventory crisis.” Inventory has decreased slightly by 0.2 percent from a year ago, but is poised for an increase in the months ahead due to an 8 percent increase in new listings. This marks the largest annual jump since 2013, according to a new report from realtor.com®.“After years of rec
Homebuilders have been pointing to a severe labor shortage of contractors that are prompting project delays and new-home prices to rise. Could they turn to robots to make up for the shortage of workers?Japan’s Advanced Industrial Science and Technology Institute is showing off a humanoid bot called HRP-5P that can complete several construction tasks, such as installing drywall by hoisting up boards and fastening them in with a screwdriver. The
Consumers can have a lot of assumptions about the housing market. Some of those beliefs may cause them to miss out on a great house. HouseLogic.com recently featured some of the biggest misconceptions that buyers have, including:1. Assuming you need 20 percent for a down payment. Buyers who may be waiting to save 20 percent for a down payment on their home purchase may end up missing out. About 60 percent of home buyers actually put down less t
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Hogweed is popping up in more backyards, and environmental agencies are warning of the dangers of coming into contact with it. For those who do, the giant weed can reportedly give you blisters, cause third-degree burns, and even permanently blind you if you get in your eyes.The towering weed may look unassuming. Realtor.com® describes it as looking similar to Queen Anne’s lace. However, it can grow up to 14 feet high and it can reproduce quick
If you’re wondering whether heroes still exist in a world where greed and power seemingly reign supreme, we found five.The National Association of REALTORS®’ 2018 Good Neighbor Award winners have shown incomparable dedication to improving the lives of people in their communities and beyond, stepping in to provide aid in desperate situations when no one else could or would. They’ve waded through toxic floodwaters in Puerto Rico to pull Hurr
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