13 Mar 2020
By RESCO Realty

Most Renters Are Paying Far More Than Their Landlord’s Mortgage

Mortgage, ,
In the overwhelming majority of the 50 largest cities across the U.S., monthly rent is more than the mortgage payment for single-family homes. In several cases, much more.  Global answering service and chat support company Moneypenny compiled data from Zillow on median rent and mortgage payments from July 2014-July 2019. In order to calculate the monthly mortgage payments, Moneypenny took the median home sale prices during the same time period and in the same major cities and then used nationally-average mortgage terms: 30-year fixed rate at 4% with approximately 6% down.  Once the two figures -- median monthly rent and median…
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12 Mar 2020
By RESCO Realty

Disruptive Technology And The Real Estate Market

Real Estate, ,
Recent advancements in technology continue to disrupt the real estate market. This includes the use of "Big Data" for data mining, artificial intelligence combined with machine learning, augmented and virtual reality, use of drones, blockchain technology, and the ongoing deployment of 5G. The Use Of Big Data Consumers have access to more information about real estate market conditions because of the collection and online presentation of the results of data mining "Big Data." For example, it is easy to learn if a market is a buyer's or a seller's market by searching for the median number of days a house…
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11 Mar 2020
By RESCO Realty

Considering A Reverse Mortgage? Understand These Important Points First

Mortgage, ,
There are many individuals who end up on a fixed income once they reach a certain age; however, their expenses aren't always fixed. Sometimes, there is a large medical expense. In other cases, someone might need money for a new car or a home repair. In the event that someone needs cash quickly, one option is called a reverse mortgage. Those who have equity built up in their home can draw upon this to help with unexpected expenses. This is a quick source of cash that many people overlook. At the same time, it is important to think about the…
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