Article originally posted on kiplinger.com on November 17th, 2022
If you’re planning a home update, addition or another project, make sure you and the contractor agree on some key terms, and put them in writing in a contract. Don’t just sign the contract your remodeler gives you without carefully reading and understanding each provision. Ask a knowledgeable friend or hire a lawyer to review it if you’re confused.

Scope of work 
 The heart of the contract is a description of what type of renovation work will be performed. The more detail, the better chance the homeowner has of getting the desired final product,
Time frame 
Look for a start date and end date for the project. It’s fine for those to be tied to a milestone, such as a permit being granted. For instance, the contractor promises to start work within 30 days of acquiring a permit. That said, work may be delayed for reasons outside the contractor’s control, such as a k ...

Article originally posted on fortune.com on January 19th, 2023
The number of homes in the United States valued at $1 million or more has steadily increased in recent years. A February 2022 report from Redfin showed that a record 8.2% of U.S. homes (or 6 million homes) were valued at $1 million or more. That figure was nearly double the number of homes with such a steep price tag prior to the pandemic. 
If you’re a homebuyer in the market for a property in that costly ballpark, it’s important to have a clear understanding of what your annual salary needs to be to comfortably afford the mortgage payment.
While many factors ultimately impact the answer to that question—including the amount of your down payment, as well as your debt levels and mortgage interest rate—here’s a general guide to how much you need to earn to purchase a $1 million home.
By Kammer’s estimate, the monthly payment for a $1 million home k ...

Article originally posted on housingwire.com on November 21st, 2022
The forecast for the housing market is expected to get gloomier next year before rebounding to 2022 levels in 2024. Fannie Mae‘s Economic and Strategic Research (ESR) Group forecasts single-family home sales to post 5.67 million in 2022 before dropping to 4.42 million in 2023 and then climbing to 5.25 million in 2024.
The latest forecast also projects that total mortgage origination activity is slightly increased at $2.34 trillion in 2022. The mortgage market is projected to slip further, however, to $1.74 trillion in 2023 before climbing to $2.11 trillion the following year, according to the government-sponsored enterprise.
The full effects of rate increases on home sales have yet to be felt, Fannie Mae’s November commentary said. With rates at escalated levels, it is affecting home buyers facing affordability challenges. 
“From our perspective, the good news is that demok ...

Article originally posted on tucson.com on June 5th, 2022
Every street name in Tucson has a story behind it. Historian David Leighton, who writes the Star's regular Street Smarts column, shares what he has found out about some of the city's most popular roads. 
Congress Street
Actually, the street is named after the Congress Hall Saloon, built in 1868 at Congress and Meyer Avenue.
The saloon hosted informal meetings of the Arizona Territorial Legislature when Tucson was the capital of the territory. In 1871, a meeting of prominent townsmen was held there, during which the municipality of Tucson was organized and officers elected. The saloon's builder, and owner for more than 30 years, Tucson pioneer Charles O. Brown, was chosen as one of the councilmen.
Brown was born in Essex County, New York in 1829, and his family moved to Illinois when he was about 12 years old. Sometime later he ran away and headed to the California Gold Rush, where he made his fortune.
In 186 ...