Mindblown: a blog about philosophy.
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Why 2024 Shows Promise for Homebuyers
Housing market in 2023 faced highs and lows, with affordability challenges due to high mortgage rates and inflation.There is optimism for 2024 as mortgage rates and inflation show signs of easing, sparking hope for a rebound in demand.
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What’s Hot in Commercial Real Estate
AI Adoption: Real Estate firms are embracing AI for faster decisions and data-driven insights.Operational Real Estate: Investments in properties like hospitals benefit from steady demand.
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Salt Lake City’s new affordable housing law
A Salt Lake City resident with a large backyard is considering buying the neighboring property to create affordable housing units. They aim to build community, address housing issues, and make a profit. The new zoning laws allow up to 4 units per lot, with affordable housing requirements. The resident plans to remodel their house, add…
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Your Guide to Buying a House in 2024
Understand the full cost of a mortgage including down payment, interest rates, paying points, PMI, and closing costs. Ensure you have enough cash for a down payment and closing costs, considering special mortgage programs or rolling costs into the mortgage.
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How Will the Election Affect Mortgage Rates?
Mortgage rates have been rising, impacting homebuyers and sellers. The Federal Reserve's tight monetary policy has led to higher borrowing costs. Experts believe the election won't affect rates significantly. Homebuyers should focus on long-term goals and be prepared for potential rate fluctuations. Continue to full article
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Utah’s Housing Deals: Prices Drop in 2 Markets!
St. George: – Price change: ↓ 1.7% yearly – Median home price: $541,600
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Salt Lake City directs $17.7M for 14 affordable housing projects that aim to add new 1500 units
Salt Lake City is allocating a record $17.7 million for 14 new affordable housing projects, creating over 1,500 units, including family-friendly layouts. The projects will have units set aside for low-income individuals and families, with a focus on larger residences. This funding marks a significant commitment to addressing housing affordability in the city. Continue to…
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Is Refinancing Worth It? Experts Weigh In
Recent inflation at 3.1%, down from 9% in 2022 but still above target. Experts foresee a modest drop in mortgage rates, around mid-6s for 30-year fixed-rate.
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5 Compelling Reasons to Buy a Home Instead of Renting
1. Mortgage Availability enables 80% of Americans to become homeowners without hefty upfront payments. 2. Homeownership yields equity, appreciation, and profit potential upon sale, providing financial security and investment opportunities.
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Buying a Fixer-Upper in 2024: Navigating Competition With Flippers
Increased competition: – Home buyers may face competition from house flippers for fixer-uppers through 2024, due to low inventory and high prices. Shifting preferences: – Buyers may be more open to fixer-uppers as affordability concerns rise.
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