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Lake Tahoe Location Seen in ‘The Godfather Part II’ on the Market for $3.75M

realtor.com The Lake Tahoe, CA, estate famously featured in “The Godfather Part II” as Fredo’s final resting place has since been transformed into 22 individual homes, now called Fleur Du Lac Estates. One of the homes is currently on the market for $3.75 million. The original 15-acre estate known as Fleur Du Lac was built in 1938 by businessman Henry Kaiser to celebrate the completion of the Hoover Dam. The company Kaiser owned was one of the principal contractors for the dam. In all, 300 workers labored day and night for 30 days to erect this lakeside property’s 17 homes, cottages, yacht club, boathouse, and more, according to the community’s history. Until Kaiser sold the estate in the 1960s, it was used as a hideaway for business tycoons. It was ...

Home Prices Continue to Rise, and More Is Predicted for 2018

Home buyers on a budget may want to have a seat and take a few deep breaths. Home prices around the country are continuing to surge—and they’re not likely to slow down any time soon. They shot up 6.6% year over year in December, according to CoreLogic‘s most recent Home Price Index and Home Price Forecast. (Prices barely rose from November, though—just 0.5%.) The real estate data company predicts prices will continue climbing, increasing an additional 4.3% by the end of 2018. “The number of homes for sale has remained very low,” said CoreLogic’s chief economist, Frank Nothaft, in a statement. “Rising income and consumer confidence has increased the number of prospective home buyers. The net result of rising demand and limited for-sale inventory is ...

New Mortgages Allow Renters to Buy With Tiny Down Payments

The down payment has been a big obstacle in recent years for renters looking to buy their first homes. A new mortgage offering aims to ease the burden. Home Partners of America, a rent-to-own company, is offering a new mortgage product to tenants that applies some of the appreciation in their home’s value during the time they have lived there toward reducing the down payment. In areas with even modest home-price appreciation, that could reduce the down payment requirement to almost nothing. To qualify, tenants must have paid their rent on time for two consecutive years and be considered first-time buyers, meaning they haven’t owned a home in the last three years. The program harkens back to the housing bubble, when millions of Americans received mortgages ...

So You’d Like to Buy a New, Single-Family Home? You May Be in Luck

Those frustrated by the lack of single-family houses on the market may soon get a little relief: Builders are planning to put up more new homes in the coming months. Finally.  Builders secured 5.9% more permits, a strong indicator of the number of new homes to come, in October than in September, according to the seasonally adjusted numbers in the latest residential sales report jointly released by the U.S. Census Bureau and U.S. Department of Housing and Urban Development. Permits for all housing types were also up 0.9% year over year. (The numbers have been smoothed out over a year to account for seasonal fluctuations in the market.) Permits for the classic single-family home—those iconic, detached houses that typically come with yards out back—also received a jolt. They rose 1.9% from September and were ...

More People Think Renting Is a Better Deal Than Buying

A growing percentage of renters believe it is cheaper to rent than to buy a home, which helps explain why the homeownership rate remains persistently low nearly a decade after the housing crash. A boom in apartment construction in the past few years has caused rent increases to begin to level off in many U.S. cities, while home price gains have accelerated over the past year. As a result, roughly 76% of renters in August said they believe renting is more affordable than owning, up from 65% in September 2016, according to survey results from Freddie Mac expected to be released Wednesday. “We talk virtually every day about how renting is becoming less and less affordable. I think the answer is just that housing is ...