Michael Petruccelli asks; What is the new family circle?

Michael Petruccelli says; A recent AARP study of householders 50 or older showed than in just 2 years - from 2008 to 2010 the percentage of multigenerational households in the US increased more than in the previous 8 years. This change coincided with the downturn in the national economy, and these households now include almost 10% of the American population.

Michael Petruccelli asks; Who's in the new family circle?

Michael Petruccelli says; According to the AARP study of Householder 50+: 2,500,000 have child & grandchild living with them. 2,200,000 have parent living with them. 1,200,000 have parent and a child living with them. 1,100,000 have grandchild living with them. 68,000 have parent, child & grandchild living with them. 25,000 have parent and a grandchild living with them.

Michael Petruccelli asks; What is a no cash-out refinance?

Michael Petruccelli says; A refinance transaction which is not intended to put cash in the hand of the borrower. Instead, the new balance is calculated to cover the balance due on the current loan and any costs associated with obtaining the new mortgage. Often referred to as a "rate and term refinance."

Michael Petruccelli asks; What is a partial payment?

Michael Petruccelli says; A payment that is not sufficient to cover the scheduled monthly payment on a mortgage loan. Normally, a lender will not accept a partial payment, but in times of hardship you can make this request of the loan servicing collection department.

Michael Petruccelli asks; What are online sellers doing to help keep growing?

Michael Petruccelli says; They are adding original content to their websites, figuring that shoppers who spend more time in the virtual store will buy more goods. Ralph Lauren, for example, offers videos of trendsetters who personify the brand.J. Crew posts videos of its photo shoots in exotic locales. And Pottery Barn is among those providing short clips demonstrating decor ideas for its merchandise.

Michael Petruccelli asks; Who are these companies hiring?

Michael Petruccelli says; Web designers and interactive marketing agencies to make online visits as much like trips to the brick-and-motor shops as possible.

Michael Petruccelli asks; How surprising are some of the metro areas at the head of the pack?

Michael Petruccelli says; With job growth of 4% or more this year: Texas oil cities and Midland and Odessa, McAllen, Texas, a hub of U.S.-Mexican trade. Southern ports Brownsville, Texas, and Gulfport, Miss. Aviation, aerospace and defense center Panama City, Fla. And the South's Silicon Valley, Huntsville, Ala. But also Los Cruces, N.M., investing in commercial space flights, and cedar Rapids, Iowa, rebuilding after the 2008 flood.

Michael Petruccelli asks; Will online sales grow more than four times as fast as overall retail in 2011?

Michael Petruccelli says; E-commerce purchases will be up more than 13%, compared with 3% overall. That follows a 12% rise in Internet sales in 2010. Growth will slow over five years, but just a bit. Expect a 10% jump in online purchases for each year in that period.

Michael Petruccelli asks; Is the job growth at last picking up?

Michael Petruccelli says; The 216,000-job increase in employers' March payrolls is good news indeed. It is the second month of gains to exceed the pace of new arrivals to the labor force.

Michael Petruccelli asks; What will be the approximate total by years end?

Michael Petruccelli says; Nearly all states are now out of recession.Only two; Miss. and Nev. are continuing to shrink. Ten others; Hawaii, Mont., Idaho, Utah, N.M., Ariz., Fla., Ga., and the Carolinas are on the bubble, vulnerable to the latest round of home price declines and the meager demand for construction work.

Michael Petruccelli asks; Will there be a global boon in most areas?

Michael Petruccelli says; Increased commercial airplane orders, for example, will bring business to Seattle and to Charleston, S.C., plus Hartford, Conn., and Wichita, Kan. More trade with Asia will help the Pacific Northwest and parts to Calif., and a bump in business with Latin America will do the same for the Gulf Coast and Southeast. Robust commodities demand is good Farm Belt news.

Michael Petruccelli asks; Will considering having a rental apartment in my home be accepted by my neighborhood?

Michael Pertuccelli says; Communities can continue to thrive by drawing on a diverse, vibrant population. This is a way to take neighborhoods and help keep them viable.
Unfortunately, not all communities are as open-minded about rentals. Still, most people today probably live in neighborhoods that do allow them. But the tensions make it more important to add one of these rental units properly.

Michael Petruccelli asks; What is the first step toward creating, converting or building a rental unit in your home?

Michael Petruccelli says; First, make it legal! Installing a rental apartment involves a bit more than punching out a basement door and buying a stove top. One recommendation: Hire a design contractor who can check the city codes and provide a cost estimate for a legal renovation to fit your needs. Using a licensed contractor is the best way to assure that any installations will meet code and receive a certificate of occupancy.

Michael Petruccelli asks; If I build it, will they pay?

Michael Petruccelli says; If income is the only reason for a rental, this is obviously crucial. Check the apartment listings, visit units and see what they are getting for the money. Some areas, such as high-rent cities or college towns, will keep a strong rental market for attached units. Others, such as those with heavy job losses, could experience high vacancy rates. Compare prices to other attached apartments, which tend to be discounted 10% or more below the rent for traditional apartments. Keep in mind, too, that homeowners typically don't raise the rent for good tenants in these types of close living situations.

Michael Petruccelli asks; What are some of the benefits of having a rental apartment in your home? (part1)

Michael Petruccelli says; Income: In-law units typically rent a bit below other apartments on the market but can still cover much of the mortgage. With some homeowners/landlords it has covered their entire mortgage by renting out the lower half of their house.

Michael Petruccelli asks; What are some of the benefits of having a rental apartment in your home? (part2)

Michael Petruccelli says;  a)Child care: Also known as an “au pair apartment,” it can be rented in exchange for baby-sitting services. b) Health care:  The same applies to nursing care, an increasingly popular option given the high costs of health care facilities combined with an aging population.

Michael Petruccelli asks; What are some of the benefits of having a rental apartment in your home? (part3)

Michael Petruccelli says;  a) Maintenance: Develop a rent deduction for hours worked and you've got an on-site helper. b)  House- and pet-sitting: Even in strict cash-rental arrangements, homeowners say they appreciate having a reliable person to call on to watch their house and animals.

Michael Petruccelli asks;Should you rent out the extra space/room or basement in your home?

Michael Petruccelli says; Reactions to this type of rental can vary widely by community, it has for the most part risen above its undeserved reputation as the neighborhood bad seed, and will only grow more popular as suburban baby boomers age.

Michael Petruccelli asks; What are some of the assets of renting your in-law apartment, guest cottage, converted basement or carriage house?

Michael Petruccelli says; When you install a rental unit, you're setting up a sort of social shock-absorber system, so when families need it, they can use it. Especially divorced single parents, elderly couples, young & even new home buyers, how are they to afford and maintain their houses? Accessory apartments can be the answer.

Michael Petruccelli asks;Should you rent out the extra space/room or basement in your home?

Michael Petruccelli says; Reactions to this type of rental can vary widely by community, it has for the most part risen above its undeserved reputation as the neighborhood bad seed, and will only grow more popular as suburban baby boomers age.