Real Estate News

Hotter Rental Demand Forces Apartment Costs to Rise

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

In the third quarter of the year, rents rose 2.9 percent compared to a year ago, according to RealPage, a real estate data firm. How will would-be buyers respond?

Categories: Real Estate News

5 Cities Suffering Worst Inventory Losses

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

Some markets are beginning to feel the relief of more for-sale inventory, but these cities are seeing the number of listings further shrink.

Categories: Real Estate News

Where You’ll Have the Most Annoying Neighbors

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

A new survey discovers what consumers consider the most offensive traits of the people living next door, as well as where disturbances are most common.

Categories: Real Estate News

Hurricane Florence: Nearly $30 Billion in Estimated Losses

RisMedia Consumer Advice - September 30, 2018 - 12:03pm

Earlier this month, Hurricane Florence blasted through the Carolinas and Virginia, leaving a path of flood and wind damage in its wake.

According to an analysis by real estate data provider CoreLogic, residential properties in the Carolinas and Virginia sustained between $19-$28.5 billion in damage, which includes impact from both inland flooding and storm surge. Of that amount, an estimated $13-$18.5 billion is in uninsured losses. Flood losses insured by the National Flood Insurance Program (NFIP) are estimated to be $2-$5 billion, and wind losses are estimated to be an additional $1-$1.5 billion.

In total, CoreLogic estimates that flooding and wind damaged 487,000 residential homes in North Carolina, 109,000 in South Carolina and 28,000 in Virginia.

The House recently passed a five-year FAA reauthorization with a bill—the Aviation, Transportation Safety, and Disaster Recovery Reforms and Reauthorization—that includes relief funding designed to expedite recovery efforts for Florence-impacted areas. The FAA’s current authorization was set to expire on September 30; however, the House approved a one-week extension and the Senate is expected to vote shortly (at press time), according to Aviation International News.

“…Even today, over a week after the storm made landfall, flooding remains a significant concern for families in both North and South Carolina,” said NAR President Elizabeth Mendenhall in a statement. “In these times, we are reminded of the importance of peace of mind for property owners with access to quality and affordable flood insurance, and maintain our call for Congress to pass responsible, long-term NFIP reauthorization. We commend the House for passing H.R. 302, and urge the Senate to take up this important legislation quickly.”

Liz Dominguez is RISMedia’s associate content editor. Email her your real estate news ideas at ldominguez@rismedia.com. For the latest real estate news and trends, bookmark RISMedia.com.

The post Hurricane Florence: Nearly $30 Billion in Estimated Losses appeared first on RISMedia.

Categories: Real Estate News

You Can’t Deduct the Ballgame, But What About the Beer?

NAR Daily Real Estate News - September 28, 2018 - 12:00am

The IRS is working on guidance that would clarify the deductibility of expenses for client meals under the new tax law, The Wall Street Journal reports.

Categories: Real Estate News

5 Reasons Clients Should House Hunt in the Fall

NAR Daily Real Estate News - September 28, 2018 - 12:00am

If your buyers are on the fence or need a little motivation to shop for a home this season, here are some reasons autumn is the perfect time to buy.

Categories: Real Estate News

Economists: Landlords Should Tread Carefully Raising Rents

NAR Daily Real Estate News - September 28, 2018 - 12:00am

Low rental vacancies nationwide, coupled with continued strong demand for single-family rental properties, could prompt landlords to increase rents even more.

Categories: Real Estate News

Wall Street Bets on Compass, Opendoor

NAR Daily Real Estate News - September 28, 2018 - 12:00am

Investment firms pour millions into real estate startups that aim to change traditional real estate transactions.

Categories: Real Estate News

Mortgage Rates Surge to 7-Year High After Fed Hike

NAR Daily Real Estate News - September 28, 2018 - 12:00am

However, despite higher borrowing costs, prospective buyers appear to be having more success breaking into homeownership, according to Freddie Mac.

Categories: Real Estate News