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April 2019 Archives

People who lost their homes returning to homeownership

The financial crisis caused many people in Delaware and across the country to lose their homes to foreclosure or short sale. It was especially devastating for those with sub-prime mortgages in communities that were part of the "housing bubble." Now that it has been years since the recovery, many of these buyers are looking to return once more to the real estate market. Homeownership can be an important way of building wealth. While many people are wary of losing out again, they are also taking precautions to protect themselves, like seeking more affordable homes.

Youngest adults want to be homeowners

Young people in Delaware and throughout the country would have a home as opposed to a vacation or dream wedding. According to a survey from Bank of America, 59 percent of those between the ages of 18 and 23 say that they will buy a home within five years. This would mean that those within this age range would be homeowners before they turn 30. The study involved about 2,000 people who own a home or are planning to.

A guide to buying a short sale property

Between 2008 and 2012, it was not uncommon to see a home being sold through a short sale. Since then, short sales have become less common as the economy and housing market and become more stable. However, those who purchase a home through a short sale may be able to get a good deal on a property. A short sale is often preferable for a seller because it means less damage to his or her credit score when compared to a foreclosure.