Monday, June 20, 2022

Why It's Harder For Millenials to Buy a Home

 Source: The Skimm

Buying a house can feel next to impossible these days. But it’s not just the price of homes or mortgage rates going up that’s keeping the housing market tight. Long before the pandemic made supply chain issues commonplace, millennials have had extra trouble becoming homeowners.


Some of the reasons why it’s difficult include a slowdown in homebuilding after the Great Recession, home prices that have outpaced wages, boomers who are staying in their homes longer, investors and investment firms buying up the kinds of properties that appeal to first-time buyers, and student loan debt.

Read the full article here.

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Thursday, June 2, 2022

Title Insurance 101 - "Chain of Title"

‘Chain of title,’ as real estate professionals know, refers to the history of a property’s ownership as far back as records can trace it.

In some cases, a property’s chain of title may go hundreds of years, back to when the government first granted the right of ownership of the land, by way of Patent - and perhaps the home’s first owner. Today, when a new buyer closes, and the paperwork is filed with the local office that handles real estate records and filings, the new owner’s name will join that chain.

As the new owner, buyers need to be sure that any liabilities carried by the seller are resolved at closing and will never become a burden to them. They should know that the title or closing office will do everything possible to ensure that any such liabilities have been satisfied before the transaction is complete....

Read why Title Insurance is essential for you as you purchase a home:  see the full article brought to us by our very own Kelly Vincelette and Suzanne Borg of Cornerstone Title Insurance, and written by Barbara Ponin with RISMedia.

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