When it comes to Generation X, many of whom represent the current wave of new homebuyers, smart home builders and real estate professionals are thinking outside the box.
For those of you getting close to the finish line in the home-buying process, be careful, there may be one more hurdle to cross. With tighter regulations being enforced by the government, lenders have been moving towards implementing stricter standards to better prevent careless underwriting and fraud on behalf of borrowers. In the past, a combination of monkey business by lenders and borrowers – including intentional misinformation submitted by borrowers on their applications, lenders approving borrowers with unsatisfactory credit histories, distorted home appraisals, lenders downplaying the risks of “teaser” rate ARM loans and much, much more — led to a slew of problems in the housing market, which most of us have become all too familiar with.
Buyers ages 55+ have distinctly different ideas about the kind of housing they want to live in, according to a 2009 survey on buyer preferences.
The study by the National Association of Home Builders (NAHB) and MetLife Mature Market Institute reflects the shifting priorities of seniors when compared to the general population.
It’s a pretty exciting time for the real estate industry–major indicators are at last pointing towards the beginning of a recovery in the housing market.
Author Matthew Amster-Burton posted an article, titled “Understanding Home Loans,” with a humorous take on the current state of the mortgage industry.
