The number of homeowners over 60 years old are more likely to have a mortgage today than 35 years ago. Why? Basically, it comes down to older generations taking advantage of the equity in their home. The three reasons quoted for influencing older households to carry a mortgage into retirement:
- Financial planners advising on the benefits of a mortgage in retirement planning.
- Tax incentives and mortgage interest rates being “deductible from income taxes at the federal level and in most states.”
- Home equity is a primary source of wealth for those without pensions, with low incomes, and who are less affluent.
Highlight of the report: they don’t appear to be stressed over their mortgage.
Time to sell a home depends on more than just supply and demand in the area, it also depends on the home being correctly priced and competitively priced. In less terms, it’s all up to you. It might be a seller’s market in most areas but appealing to buyers still plays an important role. Getting greedy with price could turn away potential buyers and the longer a home is on the market, the more buyers grow wary. Don’t discount staging a home if you’re looking to sell fast.
Builders remain confident in September thanks to a stable and low unemployment rate, growing economy, rising incomes, and increasing household formations. Expectation: boosted demand for new single-family homes. Challenges: rising material costs, moderately higher interest rates (emphasis on moderate because they’re still quite low compared to history), and “burdensome regulations”.
The Best Places to Live in America for 2018 is in but the median household income averages $120K—these cities aren’t for the single folk and only areas with populations over 50K were taken into account. These lists are all about the details. Frisco, TX won the No. 1 spot.
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