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Real Estate

Infographic: Easing the Burden of Student Loan Debt

RisMedia Consumer News - October 2, 2017 - 2:22pm

Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ now at blog.rismedia.com:

Is your crippling student loan debt keeping you from becoming a homeowner? According to an article by RefinanceStudentLoans.net, “The Case for Student Loan Forgiveness,” student loan debt is one of the highest debt categories in the U.S., coming in second to only mortgage debt. Add up the debt from the 44-plus million borrowers in the U.S. and it comes out to a whopping $1.44 trillion, the article reports.

If you’ve experienced a hefty monthly student loan payment, then you’ll understand why borrowers are less likely to boost the economy. If all of your cash is going to bills and debt reduction, there’s no excess money to spend.

This loan debt can also delay important life events—such as getting married, having children and buying a house—by 19 to 46 percent. Many are having trouble affording these loan payments after paying for rent, gas and utilities. According to the article, 8 million borrowers defaulted on their student loans as of 2016.

Fortunately, there are some resources available that can ease the burden of student loan debt or erase it completely. Programs such as Public Service Loan Forgiveness and Perkins Loan Cancellation can help you if you work a non-profit, education or government job. If you don’t qualify for these, you can also apply for income-based repayment plans to lower your monthly loan payments or defer them for the time being.

The following infographic, provided by RefinanceStudentLoans.net, offers a breakdown of available student loan forgiveness and alternative repayment options.

Liz Dominguez is RISMedia’s associate content editor. Email her your real estate news ideas at ldominguez@rismedia.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Infographic: Easing the Burden of Student Loan Debt appeared first on RISMedia.

Categories: Real Estate

Indie Brokers Eye Mergers to Stay Competitive

NAR Daily News Magazine - October 1, 2017 - 11:00pm

As technology costs escalate for small and privately owned real estate companies, many are merging with larger firms in order to remain...

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The ‘Bonus Room’ Makes a Comeback

NAR Daily News Magazine - October 1, 2017 - 11:00pm

Demand is increasing for more flexible living spaces, builders say. Here’s how to present a multipurpose room to buyers to get your listing...

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5 Fall Maintenance Tips to Share With Clients

NAR Daily News Magazine - October 1, 2017 - 11:00pm

The changing of the season brings several household tasks homeowners should perform to keep their house safe as colder temperatures approach.

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Dying Malls Could Give Birth to New Inventory

NAR Daily News Magazine - October 1, 2017 - 11:00pm

Developers are eyeing old shopping centers—which often include large parcels of land—for redevelopment into residential projects.

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Fears of HELOC Defaults Go Unrealized

NAR Daily News Magazine - October 1, 2017 - 11:00pm

Economists warned of rising defaults as more homeowners took out home equity lines of credit during the pre-recession housing boom. But so far,...

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Best and Worst Cities for Car Lovers

NAR Daily News Magazine - October 1, 2017 - 11:00pm

Realtor.com® ranks the metros that offer the most and least options for drivers who like to be on the road.

Categories: Real Estate

How to Make Buying a Beach House an Affordable Thing to Do

RisMedia - October 1, 2017 - 11:04am

Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ now at blog.rismedia.com:

The dream of purchasing a beach house is potentially one that you’ve had since you were a teenager or young adult; however, setting aside the money for this venture is an entirely different project. Instead of continuing to watch your dream shrink, consider some strategies for making a beach house a reality.

Look for Less Desirable Locations
In your view, any house on the beach is likely in a desirable location, but that really depends upon what the buyer is looking for. One thing that you should consider is how the school district can have a significant effect on the price of a house. If you are looking for a summer home or you may not have children, the quality of the school district may not affect you at all. As a result, you can buy in a community that has a school district of a lower quality, which will likely mean a lower price.

Research Seasonal Communities
When you’re looking to purchase a house, you might think you need to buy a place that is yours to visit throughout the year; however, that isn’t necessarily the case. You may be able to find a home in a community that is only open to residents for a set number of months per year. During the colder seasons, it may close down. Due to the fact that you’re unable to inhabit the house year-round, you may have a greater chance of procuring a lower price.

Rent the House
beach house is a desirable location for many people, which provides you with the opportunity to rent it to them. You could rent your house out on AirBnB, for example. Some people decide to rent their houses out for the majority of the year and spend a short amount of vacation time there themselves, and others choose to just rent the house during peak seasons. You can decide what works for you.

Buy a Smaller House
In most cases, people looking to buy beach houses are not planning to live there during the entire year. As a result, you probably don’t need a prodigious beach house. Even when you want to make the beach house your full-time residence, ask yourself what you are willing to sacrifice to get a house on the beach. When you don’t intend to have children, one or two bedrooms in a house might be just right.

Thinking about buying a beach house might feel overwhelming to you because of the perceived costs; however, you can actually make this wish a reality.

For the latest real estate news and trends, bookmark RISMedia.com.

The post How to Make Buying a Beach House an Affordable Thing to Do appeared first on RISMedia.

Categories: Real Estate

Consumers Say This Is the Ideal Down Payment

NAR Daily News Magazine - September 28, 2017 - 11:00pm

Find out what the majority of Americans are willing to put down on a home, according to a new survey.

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7 Steps for Protecting Clients From Disasters

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Major natural disasters have made headlines recently, and your clients may be considering taking extra precautions to protect their homes. Pass...

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8 Exterior Renovations to Boost a Home’s Value

NAR Daily News Magazine - September 28, 2017 - 11:00pm

These outdoor remodeling projects offer homeowners the biggest payback at resale.

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Mortgage Rates Stuck in Holding Pattern

NAR Daily News Magazine - September 28, 2017 - 11:00pm

The 30-year fixed-rate mortgage barely budged this week, staying well below the 4 percent mark.

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New Tools Help Market Homes’ ‘Transit Score’

NAR Daily News Magazine - September 28, 2017 - 11:00pm

Here are some ways you can highlight your listing’s proximity to public transportation as a selling point to buyers.

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Buyers Remain Positive Despite Low Inventory

NAR Daily News Magazine - September 28, 2017 - 11:00pm

Prospective homeowners are optimistic about the market and are committed to finding their ideal home, a new survey finds.

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Kitchen Remodels Offer Big Paybacks at Resale

NAR Daily News Magazine - September 27, 2017 - 11:00pm

Find out the interior remodeling projects with the strongest buyer appeal that could add value to a home at resale.

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The 20 Hottest Housing Markets in September

NAR Daily News Magazine - September 27, 2017 - 11:00pm

For the first time in several months, Vallejo, Calif., fell from its number-one ranking as a new city took the top spot on realtor.com®’...

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Builders: Green Homes Are Going Mainstream

NAR Daily News Magazine - September 27, 2017 - 11:00pm

A new report shows that green residential and multifamily construction is moving out of a niche business and into the mainstream, fueled by...

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Some Homeowners Really Are Stuck

NAR Daily News Magazine - September 27, 2017 - 11:00pm

Real estate professionals are desperate to find more homes to list. Some homeowners say they’d sell if they could, but their mortgage is...

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Real Estate Pros Say Prices to Continue to Escalate

NAR Daily News Magazine - September 27, 2017 - 11:00pm

View a map to see REALTORS®’ price expectations over the next 12 months for your market. 

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Homeowners Face Tax Hike Under ‘Big 6’ Plan

NAR Daily News Magazine - September 26, 2017 - 11:00pm

An outline for tax reform released Wednesday by the Trump administration and Republican leaders would no longer make...

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