Wallethub – Homeownership isn’t for everyone. Roughly 46 million American households have opted to rent rather than buy their homes because of convenience, cost or both. But renting isn’t always a cheaper or better alternative to owning a property. The right road to take depends on a variety of factors, including an individual’s or family’s financial means and how well the local real-estate market is doing.
Real Estate
Navigating CT spring home sale market this year. What sellers and buyers need to know.
Hartford Courant – The spring homebuying season — traditionally the busiest of the year — hasn’t made much of an appearance in Connecticut for five years, after a pandemic buying frenzy depleted the stockpile of houses for sale, so much so that it hasn’t built back up.
Few houses on the market are still frustrating both potential buyers and sellers. Buyers have little choice and still encounter stiff competition, with multiple bids. Many would-be sellers worry they won’t be able to find another place to live, so they sit on the sidelines.
Dean’s Report 2024
New Rules Govern Residential Property Sales Beginning in mid-August
UConn Today – If you’re in the process or buying or selling a home, or think that will be part of your near-future plans, then the recent National Association of Realtors (NAR) settlement has likely caught your attention.
As part of a class-action lawsuit settlement, the NAR agreed to some changes impacting compensation and representation beginning Aug. 17. The sale or purchase of a home is considered one of life’s biggest stressors. Understanding the new opportunities and requirements of the settlement can put real estate clients at ease.
UConn Today interviewed School of Business professor Kristen Haseney, an attorney with extensive experience in the industry. Below she answers questions about what’s new and what to expect.
Real Estate Center Loses Two Esteemed, Beloved Faculty Members
UConn Today – The Center for Real Estate and Urban Economic Studies is grieving the recent loss of two beloved, retired faculty members, both remembered as outstanding scholars, thoughtful leaders, and champions of their students.
What Is the Median Down Payment by State in 2024?
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.
Homeownership trends: New data shows areas of concerns in CT
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.
Cuando comprar casa es misión imposible: el tenso mercado inmobiliario
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.
Sustainability Breakfast Series Offers Insight Into Exciting Innovations In and Near Connecticut
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.
Five CT malls have been sold in recent years. Why is there so much change?
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.