Real Estate Trends Home prices have risen nationally three times faster than incomes since the turn of the century, which has made home ownership an impossibility for more Americans than ever before. In many large cities, home prices have outpaced income. In Miami, for example, incomes have risen 16 percent, while home prices have increased 58 percent since early 1998. New York's Long Island suburbs have seen just a 14 percent rise in incomes as compared to an 81 percent increase in home prices. Boston home prices have gone up 89 percent, while incomes have increased only 22 percent. Even with a downturn in the real estate market looming on the horizon, home sales are still headed for ano…

Interest Rate BuydownsWhat is an interest-rate buydown?l It’s a tool to help you qualify for a larger loan and purchase a higher-priced house than you could under normal circumstances.l A buydown allows you to pay extra points up front in return for a lower interest rate for the first few years.l The good news: the extra points are tax deductible.l Often, people relocating for employment obtain buydowns because employers often pay the extra points as part of a relocation package.l Buydowns are a financing technique used to reduce the monthly payment for the borrower during the initial years of the loan.l Under some buydown plans, a residential developer, builder or the seller will make sub…

Interest Rate BuydownsWhat is an interest-rate buydown?l It’s a tool to help you qualify for a larger loan and purchase a higher-priced house than you could under normal circumstances.l A buydown allows you to pay extra points up front in return for a lower interest rate for the first few years.l The good news: the extra points are tax deductible.l Often, people relocating for employment obtain buydowns because employers often pay the extra points as part of a relocation package.l Buydowns are a financing technique used to reduce the monthly payment for the borrower during the initial years of the loan.l Under some buydown plans, a residential developer, builder or the seller will make sub…

Real Estate Trends Home prices have risen nationally three times faster than incomes since the turn of the century, which has made home ownership an impossibility for more Americans than ever before. In many large cities, home prices have outpaced income. In Miami, for example, incomes have risen 16 percent, while home prices have increased 58 percent since early 1998. New York's Long Island suburbs have seen just a 14 percent rise in incomes as compared to an 81 percent increase in home prices. Boston home prices have gone up 89 percent, while incomes have increased only 22 percent. Even with a downturn in the real estate market looming on the horizon, home sales are still headed for ano…

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