The Pros and Cons of Buying a Newly Built Home

According to Trulia’s latest survey, twice as many people prefer new homes to existing homes. “New” means exactly that: brand-new properties that have never been lived in before, or homes purchased in the preconstruction phase. On the flip side, “existing” homes are preowned properties, most of which were built between the 1920s and the 1970s. …

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FHA mortgages are poised to get more expensive

The Federal Housing Administration (FHA) plans to impose significant restrictions on the amount of money that sellers can contribute at closing in the near future. The FHA also will be raising its mortgage insurance premiums during the coming weeks, increasing charges for new purchases across the board. Making sense of the story: One reason for …

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New-home sales edge higher

New-home sales edged slightly higher last month, as more Americans hunted for bargains in the struggling housing market. The Census Bureau reported an annual sales rate of 307,000 new homes last month, up 1.3% from a downwardly revised rate of 303,000 homes in September. Compared to new home sales a year ago, October sales were …

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Preliminary Plans for 5,000 Homes Around the OC Great Park Okayed

The plan submitted by the Aliso Viejo-based developer has parks, shopping areas, trails, a school, police substation and other aspects. IRVINE — Plans for nearly 5,000 new homes ringing the Orange County Great Park won preliminary approval from a divided City Council last week. Irvine officials voted 3 to 2 on Tuesday night to OK …

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