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Affordable housing inventory is limited due to foreclosure prevention efforts

Housing Wire

The monthly house payment to buy a renovated foreclosure — assuming a 5% down payment, the going 30-year fixed mortgage rate at the time of sale and including property taxes and insurance — represented just 20% of the median family income in the surrounding Census tract. This also raises the properties and neighborhoods values.

Inventory 380
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Will Springer Realtor - Untitled Article

Will Springer Realtor

Almost since the start of the pandemic, homeowners have been spending more time enjoying their low-financed houses and condos. They have also been spending oodles of money to shape their residences to meet new living needs – modern and spacious, when possible – as households live in their homes for longer.

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UNDERSTANDING THE TRUE COST OF HOMEOWNERSHIP

Will Springer Realtor

By embracing a comprehensive understanding of the true cost of homeownership, individuals can navigate the turbulent waters of the housing market with confidence, ensuring a secure and sustainable future for themselves and their families. In the face of mounting challenges, knowledge is power. ELECTION YEAR EFFECT? This 4-bed, 4.5-bath