Who’s Buying Into Rural Boom Towns—And What the Locals Think

There’s a new dynamic in real estate. Companies and people are moving to Indiana, Nevada, Nebraska, Georgia, and Tennessee. Change is happening in rural areas, as so many people have left the cities to live and work in the outskirts.

Counties in Florida and Idaho are dealing with similar growing pains. People have flocked to both states since the pandemic economy unfolded. Many of their counties’ home prices are rising. So are the property taxes.

Now, add in the major U.S. carmakers’ southern expansion to build electric cars and battery factories. It’s all new to some small towns.

Continue reading “Who’s Buying Into Rural Boom Towns—And What the Locals Think”

“Assume” Makes a Great Deal for You and Me, Right? What to Know About Your Assumable Mortgage

Got a government-backed mortgage with an assumable loan? If you decide to sell, a buyer might jump at the chance to get, say, a 3% interest rate instead of something between 6% and 7%.

An assumable loan lets the mortgage stay on the home, even though you transfer the home’s deed to a new owner. So, you can transfer your existing mortgage along with your home’s title. Lucky buyer!

If you’re selling a home, you might point to a possible mortgage assumption among the features you advertise in your listing. And if you’re looking to buy, it could be worth the effort to seek out a home with an assumable loan in 2023 and beyond.

Continue reading ““Assume” Makes a Great Deal for You and Me, Right? What to Know About Your Assumable Mortgage”