More people ages 18 to 34 bought homes last year, according to the Census Bureau.
While still historically very low, homeownership among 18-to-34-year-olds increased last year, even as it declined for 35-to-54 year-olds, according to a report by Jed Kolko, chief economist at Trulia Inc., the online real-estate information company.
Kolko's analysis also says demographic changes among young adults, including delaying marriage and parenthood, account for nearly all of the declines in homeownership among young adults. Many of those changes, he says, were well underway even before the recession hit.
Here's help deciding which option works best for you to tap the equity your property has built.
Which makes the most sense?
The answer depends on:
- How much equity you have.
- How much you want to borrow.
- When you plan to repay the money.
- Whether you want a fixed or flexible term.
- The interest rate on your current mortgage.
The volume of home-loan applications slipped 5.3 percent this past week and are down 17 percent from the same period in 2013.
Total mortgage-application volume fell 3.6 percent on-week for the week ending July 11 on a seasonally adjusted basis, according to the Mortgage Bankers Association (MBA).
Applications to refinance were down 0.1 percent on week, while applications for home purchase loans dropped 8 percent to their lowest level since February 2014. Purchase applications are now 17 percent lower than the same week one year ago.
The builder-sentiment index topped 50, touching 'positive territory,' for the first time since January.
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While the rest of the country is aging, the median age is declining in these states.
Most of the country is rapidly getting older. There were 44.7 million Americans age 65 and older in 2013, up 3.6 percent from 2012. But not all areas of the country are aging at the same rate. In seven states the median age actually declined between 2012 and 2013, according to new Census Bureau data.
"The population in the Great Plains energy boom states is becoming younger and more male as workers move in seeking employment in the oil and gas industry," says John Thompson, director of the Census Bureau.
"The U.S. as a whole continues to age as the youngest of the baby boom generation enters their 50s."
'De-mansionization' isn't the only trend among high-end homes and their buyers.
In the world of luxury real estate, great curb appeal is just one of many buyer requirements. Builders of today's luxury homes are tasked with making works of art that also cater to future homeowners' lifestyle.
"We want you to take comfort in knowing the extraordinary level of care we give to every detail — no matter how small or tedious — to make sure your home is flawless upon completion," said Al Ross, founder and president of Al Ross Luxury Homes. "We are not just selling a luxury home; we are creating an unprecedented level of service and homeowner experience."
Malibu's most expensive home in a mobile-home park is near the beach and potentially, celebrity vacationers.
In Malibu, California, there are beach estates for the rich and famous, with disappearing walls of glass and secluded terraces overlooking the ocean. And then there are these deals: mobile homes for celebrities seeking a Bohemian paradise with a small price tag.
The 500 or so mobile homes on chassis in two Malibu trailer parks usually fly off the market for as little as $300,000. The best homes — triple-wides with high-end amenities and gorgeous ocean views — sell for $4 million or more.
That seems like a lot, until you consider that just a couple blocks away there are homes for sale for $25 million, $38 million and $40 million.
'Pocket listings' -- homes not posted to the MLS -- purposely limit the pool of potential buyers.
Wall Street traders aren’t the only ones who like to circumvent the conventional marketplace. Real estate agents are increasingly pitching sellers on their version of secretive dark pool trading: Skip the multiple listing service (MLS) and let the agent market the home privately.
Privately can mean everything from an agent bringing in a buyer and collecting the entire commission (typically 6 percent) rather than splitting it with a buyer’s agent. Or it can mean posting a Coming Soon sign on a property before listing it on the MLS. Then there’s the growing number of private agent clubs, closed networks of agents who deal among themselves, often using "pocket listings," or homes they have yet to -- and may never -- post to the MLS.