By Amy Connolly A new Redfin report found homeowners are staying in their homes twice as long as they did in 2005, driven largely by older Americans. SEATTLE— Baby boomers and Gen Xers, more than other generations, are staying in their homes up to 20 years, far exceeding the typical 11.9 years most U.S. homeowners occupy their residences. A new report from Redfin showed nearly 40% of baby boomers have lived in the home they currently own for at least 20 years, and another 16% for 10-19 years. More than one-third (35%) of Gen Xers have lived in the home
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By Elliot Raphaelson Buyers with good credit scores have a better chance at lower mortgage rates. Here are some tips for improving those scores. NEW YORK – If you intend to buy a new home, or if you intend to take out a loan in the near future for any other reason, you obviously want to have the best credit rating in order to get the lowest interest possible. Here are some ways for you to improve your credit score: Pay your bills on time. Whenever you pay a bill late, it can have a negative impact on your credit
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By Dave Conroy Generative AI can show the possibility of a property beyond what currently exists, but it’s important to use it responsibly and ethically, adhering to the NAR Code of Ethics. NEW YORK – Images sell homes. For real estate professionals, they are vital components of marketing, presenting and showcasing inventory. For buyers, they are the key to attracting interest. Every real estate professional understands the value of quality images that highlight existing properties and their features. But what if images could show the possibilities of a property beyond what currently exists? For example, what if images showing finished
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By Lauren Schwahn Just because someone isn’t financially responsible doesn’t make them a bad fit for a relationship or marriage, one expert said. You could work on improving your finances together. NEW YORK – Discussing credit scores with your partner isn’t anyone’s idea of pillow talk. But the conversation can provide important clues about your beloved’s history with money and what your financial future together could look like. Why do credit scores matter, and are they enough to make or break a relationship? Here’s what couples should know about scores and what else they should discuss when it comes to
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A new study found five storms in a 17-year period exceeded the hypothetical Category 6 rating, with wind speeds of 157 mph or faster. All the storms happened in the last nine years. MIAMI – As climate change is causing more intense storms, a new study is suggesting that the five-scale system by which the potential damage caused by hurricanes is gauged should be revised to include a sixth category to properly broadcast the risks these intense storms present. Introduced in the early 1970s by the U.S. National Hurricane Center, the Saffir-Simpson Hurricane Wind Scale estimates potential property damage based
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A growing number of in-state and out-of-state residents are moving to Orlando, drawn by the cheaper housing prices and attractive amenities. ORLANDO – The City Beautiful is looking more attractive every day. While Miami and Fort Lauderdale remain the top spots for Florida newcomers, Orlando is growing more attractive.  Census data show that between July 2021 and July 2022 about 730,000 people moved to Florida, with the largest number of migrants from the millennial generation – many from New York and California. Moving company Pods found that Orlando ranked No. 3 in long-distance moves in 2023, up from No. 9
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Artificial intelligence use is on the rise in real estate but more than 50% of brokerage executives are concerned about the perceived lack of safeguards, a new study found. NEW YORK – AI adoption in real estate is on the rise, with 75% of U.S. brokerages already using the technology and nearly 80% of agents embracing the AI tools, a recent poll found. More than 80% of real estate agents use AI to craft property descriptions daily, while 67% use it to create emails, letters and blog posts. Sixty percent of agents and brokers prefer to use AI to create
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More than 14.5% of homes in Florida are owned by single women, compared to 10% by single men. MIAMI – The share of single women who own their own homes has risen in Florida, a new report by Axios found. LendingTree reports that Florida has the fifth-largest share of single-women homeowners in the nation. More than 14.5% of homes in Florida are owned by single women, compared to 10% by single men, according to Census data. In the North Port-Sarasota-Bradenton and Tampa-St. Petersburg-Clearwater metros, single women homeowners eclipse single men by just over six percentage points, said a census data
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By Craig Hale The White House launched its AI Safety Institute Consortium (AISIC) to address key aspects of artificial intelligence (AI). WASHINGTON – More than 200 top AI stakeholders have signed up to a consortium to agree to the responsible development and deployment of artificial intelligence. Secretary of Commerce Gina Raimondo announced the creation of the U.S. AI Safety Institute Consortium (AISIC), which is set to bring AI creators and users, academics, government and industry researchers, and civil society organizations together. Overseen by the US AI Safety Institute (USAISI), the AISIC will play a vital role in implementing the actions
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