Real Estate News

Business

The Mortgage Professor: Purchasing a house with a home equity conversion mortgage: How to do it right

One of the biggest upsides to purchasing a house with a home equity conversion mortgage is that doing so does not impose a monthly payment burden on the borrower. The disadvantage is that this type of reverse mortgage, offered through the Federal Housing Administration, will cover only about 50-60 percent of the house price, depending on the borrower's age. That means the purchaser will need to find the remaining required cash elsewhere. The most common source is asset liquidation.

Business

Why LA's construction industry relies on immigrants

LOS ANGELES – Eddie Ybarra and Francisco Martinez, both in their 40s, work side by side building the walls of two of the newest condo buildings in downtown Los Angeles. They drive pickup trucks to work, park in adjacent lots and both take their lunch break around 10 a.m. That's about all they share.

Business

Virtual reality expected to shake up future of real estate

MINNEAPOLIS – Nearly a year before Jack Sazama will actually set foot in his new digs at the Spectrum apartments near the University of Minnesota, the freshman strapped on a set of cheap plastic goggles, strolled through his new apartment in virtual reality and then signed a lease.