This Old House asks:
What advice do you have for first-time homebuyers looking to save for a down payment?
Save as much as you can, and if you have the ability to, try to save for paying closing costs, too, Check to see if your state offers a first-time homebuyers savings account program. Some states offer special savings accounts to help first-time homebuyers which may provide a state tax benefit for money deposited up to a certain limit. You will be held to any requirements and restrictions under the program, so be sure to check on what those are first. You can also check with your local Housing Finance Authority to see if they have downpayment assistance or other programs to help you obtain a loan or purchase a home. Both usa.gov and hud.gov have information on homebuying and in particular, resources for first-time homebuyers, including links to resources available by state.
NBC Connecticut – Owning a home is the gateway to the middle class and the traditional path to building wealth and passing it along to one’s children.
NBC Connecticut Investigates wanted a better idea of home ownership trends and crunched some recently released census figures.
For starters, overall home ownership in Connecticut went down in the decade between the 2010 and the 2020 census -anywhere from down roughly 1% in Windham County, to homeownership dropping almost 5% in Fairfield County.
We asked Jeffrey Cohen, UConn Business School professor of real estate, for his take.
Telemundo Miami – WASHINGTON DC – Con la tasa hipotecaria a 30 años más alta de las últimas dos décadas, fruto de las subidas de tipos de interés, y con una acuciante falta de oferta, los estadounidenses tienen cada vez más complicado comprar una casa y el número de solicitudes de hipotecas, así como el de compraventas, está bajando y seguirá haciéndolo en los próximos meses.
UConn Today – The School of Business will kickoff a new Sustainable Business Breakfast Series this month, with prominent guest speakers discussing everything from building sustainable homes and office complexes to the future of wind-farming in our state.
New Canaan Advertiser – Four of Connecticut’s 10 largest shopping malls have sold in the past four-and-half years and a fifth is likely to change hands after being auctioned off this past week.
The recent online auction of the Crystal Mall in Waterford was just the latest shift in ownership of malls around the state. The winning bid was $9.25 million and the listing on Crexi, the commercial real estate platform where the online auction occurred, says the mall has been “sold subject to seller approval,” although the listing does not identify the buyer.
CBC Radio – Jeffrey Cohen, a professor at the University of Connecticut’s School of Business, has been researching the benefits of bringing addiction and mental health treatment facilities near public transit routes. His research project ran between 2013 and 2018 is currently a working paper under peer review.
UConn Today – As a new business student, David ‘Dave’ Wharmby ’89 (BUS), ’02 MBA took an introductory real estate course that changed his life.
“Professor Byrl Boyce was a very personable guy, with a dry sense of humor, who really wanted to make sure we understood the material,’’ Wharmby says. “He took some complex financial math and went over it again and again, until students really felt like they were masters of difficult material.’’
Hartford Courant (Yahoo News) The Greater Hartford home sale market snagged a top-10 spot in a new national ranking of hottest housing markets in the country in June, adding to a string of similar flattering mentions since the start of the COVID-19 pandemic.