Television personality Rosie O'Donnell has purchased a new Jersey house for $6.375 million.
After making a $5 million splash in Sarasota, Fla., this past October, the actress and television personality has dipped her toe into the mansion market once again, buying a multimillion-dollar manor in New Jersey.
O’Donnell’s new home, a gated French Country estate in Saddle River, N.J., was originally offered for as much as $8.2 million. However, records show that she closed on the property in late October for $6.375 million.
But the factors behind that stat may guide the mortgage landscape in 2014.
Home-mortgage debt rose in the third quarter of this year for the first time since the end of 2008, according to a new report from the Federal Reserve.
It is a healthy sign for the housing market, arguably, but it is not exactly what it seems at face value. Mortgage debt is growing largely because banks are foreclosing on fewer homes, thereby wiping away less debt.
In the past few years, record-low mortgage rates prompted millions of Americans to refinance their home loans, but a sluggish market, dominated by all-cash investors, kept loans to purchase a home in the negative. That too, however, is beginning to change.
These cities never hit the highs of the boom cities, and they're bouncing back faster.
Looking for the healthiest housing markets in America? Chances are you won't find them in the red-hot California and Florida metros that made headlines this year with bidding wars, inventory droughts, "flash" sales and soaring prices.
You'll find more consistent appreciation and longer-term gains in places such as Tulsa, Okla.; San Antonio; Sioux City, Iowa; Pittsburgh; Des Moines, Iowa; New Orleans; Asheville, N.C.; Rochester, N.Y.; and Albuquerque, N.M.
Increase in so-called 'guarantee' fees may lead to higher home-loan costs for homeowners.
Mortgage-finance giants Fannie Mae and Freddie Mac will boost certain fees that they charge lenders, the latest in a series of increases that could raise home-loan borrowing costs for U.S. homeowners.
The firms’ federal regulator, the Federal Housing Finance Agency, said Monday it would direct the companies to increase by 0.1 percentage points the so-called “guarantee” fees that the companies charge to lenders. Those fees have nearly doubled since 2009.
Take note of these last-minute moves to keep your home out of harm's way during winter storms.
A: It's not too late to take some precautions that can help protect your home and avoid potentially expensive damage. Taking the following steps even a day or two before a winter storm hits can make a big difference.
1. Keep your pipes warm. Some of the most expensive winter damage comes from burst pipes. Even if the rest of your house is warm, the water in the pipes in your attic, basement, crawl space and in the back of cabinets can freeze. Wrap the pipes in the cold parts of your house in insulation, and open kitchen and bathroom cabinets to allow warm air to circulate around the pipes. Also, let water drip slowly from the faucets to help keep the water flowing.
The trickle-down effect of a decline in homeownership has put more rentals out of reach.
Since the housing crisis began in 2008, approximately 4.6 million homes were lost to foreclosure, according to CoreLogic. The vast majority of those homeowners became renters. Even as housing recovered, credit tightened, pushing even more potential buyers out of homeownership and into rentals, both apartments and single-family rental homes.
There are now 43 million renter households, or 35 percent of all U.S. households, the highest rate in over a decade for all age groups, according to Harvard's Joint Center for Housing Studies; 4 million more renters today than there were in 2007. For those ages 25 to 54, rental rates are the highest since the center began record keeping in the early 1970s.
Here are the most popular moves in home interiors this past year.
Ease, comfort and a return to rustic touches marked this year’s interior design trends. As we’ve noted, bright pops of color — such as purple, teal and emerald — coupled with cool neutrals made up the palate of 2013.
But what about the overall decor?
We scoured the blogosphere and checked in with Sheila Schmitz, editor at Houzz, a home-design and renovation site, to round up the year’s interior trends.
If you're looking to buy a house, it's time to get educated.
If you’re considering buying or selling a home, you may have asked co-workers, friends and family for advice. But you might want to check with the professionals, because the rules of the real estate game are different today than they were 20 or even 10 years ago. Because of this monumental shift, there are lots of misconceptions about buying a home that could cost you big when it comes time to go house hunting.
Here are five of the most common real estate myths.