Real Estate News

Builder Lets Consumers Design Its Model Homes

NAR Daily Real Estate News - February 16, 2018 - 1:00am

Taylor Morrison Home Corp. is crowdsourcing the design of its model homes to give home shoppers more of a say through its myModel Home Project.

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Climbing Mortgage Rates Reach 4-Year High

NAR Daily Real Estate News - February 16, 2018 - 1:00am

Rates continue to increase, soaring this week to the highest average since 2014. 

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First-Time Buyers May Have it Easiest Here

NAR Daily Real Estate News - February 16, 2018 - 1:00am

First-time home buyers are entering the market under tight inventory conditions and rising home prices. But not all cities are posing a challenge...

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Are Romantic Addresses a Better Investment?

NAR Daily Real Estate News - February 14, 2018 - 1:00am

A new study suggests a sales-to-love connection for certain sweet street names.

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Small Investors Are Looking to Partner Up

NAR Daily Real Estate News - February 14, 2018 - 1:00am

Mom-and-pop landlords and house flippers seek to alleviate risks and smooth financing hurdles as property prices increase. 

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Buyers Finding Love Takes More Time

NAR Daily Real Estate News - February 14, 2018 - 1:00am

Real estate pros may be working with a home shopper much longer than they used to. Two-thirds of buyers are shopping for three months or more...

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Is Market Volatility Giving Buyers Cold Feet?

NAR Daily Real Estate News - February 14, 2018 - 1:00am

Stock jitters and higher interest rates were likely behind the most recent plunge in mortgage applications.

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It’s Official: Lennar, CalAtlantic Merge

NAR Daily Real Estate News - February 14, 2018 - 1:00am

The two companies now make up the nation’s largest homebuilder based on revenue.

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Guiding Buyers Who Follow Their Hearts

NAR Daily Real Estate News - February 13, 2018 - 1:00am

Love is in the air, and if your clients have recently fallen for a property, use these tips to ensure they have really found “the one....

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How Millennial Agents Are Reshaping Brokerages

NAR Daily Real Estate News - February 13, 2018 - 1:00am

Read how the younger generation is changing office dynamics.

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Driverless Cars Could Fuel An Exurb Boom

NAR Daily Real Estate News - February 13, 2018 - 1:00am

“Real estate might be the industry that is most transformed by autonomous vehicles,” says one housing analyst.

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Trump Budget Proposal Slashes $8.8B From HUD

NAR Daily Real Estate News - February 13, 2018 - 1:00am

See how the industry fared in President Trump’s Fiscal Year 2019 Budget proposal.

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Realogy Named On ‘Most Ethical Companies’ List

NAR Daily Real Estate News - February 13, 2018 - 1:00am

Realogy has been honored on the Ethisphere Institute’s World’s Most Ethical Companies list for the seventh consecutive...

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5% Mortgage Rates Aren’t Scaring Buyers

NAR Daily Real Estate News - February 13, 2018 - 1:00am

The higher rates may actually be prompting some potential buyers to rush their home-purchase plans, a new survey finds. 

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More Markets Hitting Record-High Home Prices

NAR Daily Real Estate News - February 13, 2018 - 1:00am

It’s a good time to be a homeowner: nearly two-thirds of housing markets across the country saw home prices at all-time highs in the fourth...

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Buyers Entering the Market Solo Struggle

RisMedia Consumer Advice - February 12, 2018 - 5:33pm

Accumulating a down payment is a struggle—and even more so for singles, according to a new report.

Singles are facing more than 10 years of saving, assuming they make a 20 percent down payment on a median-priced property, an analysis by Zillow reveals. Conversely, couples can do it in half the time: 4.6 years.

In addition, buyers have limited options when solo: 45 percent of inventory, compared to couples, who can afford 82 percent of supply.

“Nearly two-thirds of Americans agree that buying a home is a central part of living the American Dream, but for unmarried or un-partnered Americans, that dream is increasingly out of reach,” says Aaron Terrazas, senior economist at Zillow. “Single buyers typically have more limited budgets, which means they are likely competing for lower-priced homes that are in high demand. Having two incomes allows buyers to compete in higher-priced tiers where competition is not as stiff.”

The challenge is intensified in markets with rising values, the report shows. Couples face 14 years of saving in San Jose, Calif.—already a haul—but for singles, that span stretches over 30 years. In San Francisco, Calif., couples can amass enough for 20 percent down in 12.6 years, but singles have a longer road, at 27.8 years.

A handful of markets are more realistic for singles: Indianapolis, Ind. (7.5 years of saving); Cleveland, Ohio, and Detroit, Mich. (8 years); and St. Louis, Mo., and Pittsburgh, Pa. (8.1 years).

Across the largest metros:

Analysts assumed buyers are portioning off 10 percent of their income each year to savings. According to 2016 Census data, annual earnings were a median $80,800 for couples and $34,500 for singles.

For more information, please visit www.zillow.com.

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com. For the latest real estate news and trends, bookmark RISMedia.com.

The post Buyers Entering the Market Solo Struggle appeared first on RISMedia.

Categories: Real Estate News

Airbnb Income Counts Toward Refinancing

NAR Daily Real Estate News - February 12, 2018 - 1:00am

A new program allows homeowners who rent rooms through the popular home-sharing service to include their earnings as income when applying to...

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Housing Affordability to Worsen in Spring

NAR Daily Real Estate News - February 12, 2018 - 1:00am

As mortgage rates continue to inch higher, consumers are bracing for steeper homebuying costs. What percentage of residents in your area will be...

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Buyers of ‘AHS’ Home Sue Over Property’s Past

NAR Daily Real Estate News - February 12, 2018 - 1:00am

The owners of a mansion that was featured prominently in “American Horror Story” say the sellers and their real estate representatives...

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3 Ways to Improve Customer Connections

NAR Daily Real Estate News - February 12, 2018 - 1:00am

Find out how to become a better acquaintance with your clients, work harder to anticipate their needs, and show more empathy for their situation...

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