HOME BRIEFS

Foreclosure rates in US reach a 19-year low

U.S. foreclosure and mortgage delinquency rates fell at the end of last year to the lowest rate since at least 2000, according to Corelogic, a real-estate research firm.

The rate of mortgages in some stage of the foreclosure process was 0.4 percent in November and December, the lowest monthly rate since at least January 2000, Corelogic said.

In Ohio, the foreclosure rate was at 0.6 percent, down from 0.8 percent the previous year.

Nationally, 4.1 percent of mortgages were at least 30 days past due in December, down from 5.3 percent from a year previously. In Ohio, the rate of past-due mortgages was 4.9 percent, down from 5.9 percent the previous year, Corelogic reported.

The equity that U.S. homeowners have in their properties also increased by an average of $9,700 in 2018, the firm reported. A rising level of home equity can be a factor that reduces the chances of foreclosure, Corelogic noted.

Rents on the rise in Ohio, nationally

Renters could find themselves paying more, as the median U.S. rent grew by 2.4 percent in the last year, according to a study by Zillow.

The median monthly rent in the U.S. was $1,475 in February, up from $1,438 a year earlier, according to the online real-estate database.

In Columbus, Zillow reported that the median rent was $1,360, a 3.7 percent increase over the previous year.

Hiring a pro can bring colorful harmony to home

When do you need a professional color consultant?

The home design and renovation online site Houzz.com suggests several times when hiring a designer to help pick colors for your home might be a good idea.

Such a time is when you’re starting with one piece, such as a work of art, that you love. A color consultant can use the piece as a jumping-off point to create a harmonic color scheme for the surrounding room.

Another time to consider a specialist is when your ready to step out of your “color comfort zone” and take a chance with a new hue. A consultant can give you a welcome push in a new direction, Houzz said, and can also act as a friendly negotiator if your spouse or partner doesn’t love the new color quite as much.