It used to be that empty nesters were expected to downsize but according to a new survey, America’s seniors are expressing a strong desire to stay in their family home. The Housing Confidence Index, released by Chase and Pulsenomics, found that 52 percent of Baby Boomers intend to never move out of their current home.
Rather than relocating, 88 percent of respondents say they plan to make improvements to their current home. Nearly 66 percent of those polled said they think their home values will continue to rise, providing incentive for homeowners to age in place and utilize their home as a source of income.
Powerful financial tools like reverse mortgages allow exactly that. In addition to eliminating monthly mortgage payments, reverse mortgages can provide supplemental income in the form of a lump sum, monthly payout or a line of credit. This can provide those 62 or older with a pathway to stability and security in retirement.
Today, conventional conforming no-point 30-year fixed mortgage rates are averaging 4.375 percent, 15-year rates are near 3.875 percent and the 5-year ARM is averaging 4.375 percent.
Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.Biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.
Author:Jeff Pleasant Phone: 970-629-9523 Dated: February 1st 2019 Views: 173 About Jeff: ...
The Turn Key Group is an assertive group of Realtors in Grand Junction Colorado. We utilize cutting edge tools and home selling techniques that make us stand out from the rest. We are Real Estate experts and we are ready to guide you through the home buying process. We are committed to fast, professional and courteous service that will help you understand and feel at ease throughout the home buying process. If you are looking for that dream home, you can count on us to help you find it and negotiate an excellent price for you.Tell us what you are looking for and we will search high and low to make your dream a reality! We will work relentlessly for you while keeping honesty and integrity at the forefront. Our trained and certified loan originators specialize in financing homes in the Western Colorado real estate market. We are prepared to find the right loan program with competitive rat es and low down payments for you.
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Some Highlights: Buyers are active in the market and often competing
"Bought a Single Family home in 2015 for approximately $250K in Fruita, CO.
When I first approached Cindy about finding a house to buy she really listened to what was important to me. Cindy took a genuine interest in what I had to say and how I felt about the kind of home I was looking forward to calling home. She wasted no time setting me on the right track in find that home. She even led me to a finance officer that made getting a loan a no hassle experience. When looking at the homes that I was considering she made sure she was prepared for any questions I might have about the house. She even went out of her way to find out if there was anything negative things about the house I was thinking about buying. I thought this was an admirable quality because it was my interest at the forefront not hers. Needs to say we did find the home that I am very excited to call home. I want everyone to know that Cindy Guzman cares and works very hard in getting the results that her clients are looking for. She made herself always available to me when I had questions. When it came time to look at the houses that I was interested in she made time to accommodate my schedule. I would highly recommend Cindy Guzman is the one you want to find that place that you would be proud to call home!! "