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More people are packing into one home together. Looking back on the recession, the U.S. Census Bureau finds the number of shared households grew by 11.4 percent from 2007 to 2010. Meanwhile, total households grew by a modest 1.3 percent. “Although reasons for household sharing are not discernible from the survey, our analysis suggests that adults and families coped with challenging economic circumstances over the course of the recession by joining households or combining households with other individuals or families,” said Laryssa Mykyta, a Census Bureau analyst and co-author of […]

The Hawaiian island of Lanai will now mostly be owned by Oracle Corp. CEO Larry Ellison, who has reached a deal to purchase 98 percent of the 141 square miles of the tropical island. The sales price has not yet been released, but some media outlets are reporting the asking price was between $500 million to $600 million. Ellison is purchasing 88,000 acres of the island from Castle & Cooke Inc., which is owned by billionaire David Murdock. The purchased acres include resorts, golf courses, and residential and commercial buildings. […]

Specializing in Homes Near Metro in Montgomery County MD and NW DC First-Time-Buyers, Move-Up Sellers, Relocations No pressure, friendly, helpful, experienced. Clients say it best: “Jeff is absolutely great to work with – patient, understanding, insightful, flexible, never ever pushy and just an all around nice guy and great realtor.” “I would recommend working with Jeff to friends, family or anyone else for that matter without reservation – 100 percent. He’s a great guy and a great realtor – easy to talk to, easy to work with, natural and of […]

A Zillow Inc. analysis of home values in different zip codes for the three months ended in April—taking into account home sales and appraisals, among other factors—shows an unbalanced housing recovery and emphasizes the influence of location on residential values. As home sales grow and available supply narrows, home values have held up or are beginning to rise in neighborhoods with good public school systems, low crime rates, and nearby transportation corridors.  However, other neighborhoods—especially in the exurbs—are not yet in recovery mode. The report shows that home values during […]

Some home buyers fall for common pitfalls when purchasing a home. How can you help make sure your clients don’t fall for one? Credit.com recently featured some of the biggest mistakes home buyers often make. Their list included: 1. Trying to fix credit scores before buying a home.  Home buyers may do more harm than good if they don’t consult a financial expert first. “Even paying down credit card balances, which is a good thing as far as your credit scores and debt ratios are concerned, could be a problem […]

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The Federal Reserve’s policy-making committee meets today and Wednesday to decide whether the economy could use another boost. Threats from the ongoing debt crisis in Europe, a dismal U.S. job report in May, low inflation, and dropping consumer prices has shaken the U.S.’s economic recovery in recent weeks. Some analysts speculate that the Fed will decide at its policy meeting to extend Operation Twist, a plan in which the Fed has sold short-term securities in order to buy up longer-term bonds in an effort to reduce long-term interest rates. The […]

Violent crime in the U.S. fell 4 percent in 2011, according to FBI crime data. However, violent crime increased in more than half of the cities that have among the highest crime rates in the nation, according to a review of crime data by 24/7 Wall St. “The cities with the highest crime rates tend to have particularly high poverty rates, high unemployment, and low median income,” according to its analysis. The six most dangerous cities in the U.S., according to 24/7 Wall St., are: 1. Flint, Mich. Violent crimes […]

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By helping home owners refinance their mortgages into low interest rates, banks are finding unexpected profits. Banks stand to earn as much as $12 billion in revenue this year by refinancing mortgages under the government program known as Home Affordable Refinance Program (HARP), Nomura Holdings Inc. estimates. The government revised its HARP program last year to encourage more banks to refinance mortgages of underwater home owners, helping these home owners take advantage of record low interest rates and cut their monthly mortgage payments. But critics say the change in the […]