Prospective buyers actively looking for a home say it’s taking them a considerable amount of time. More than half—51 percent—in a recent survey say they’ve been trying to find the right home for three months or longer, according to the Housing Trends Report from the first quarter, conducted by the National Association of Home Builders.Buyers say the main reason their searches are taking so long is because they can’t find a home the
Just when the signs were pointing to a slowing rental market, landlords are finding that demand is warranting higher prices. Rents are posting the highest annual growth rates since the end of 2016, according to a new analysis of 250 of the largest U.S. cities by RentCafe, a nationwide listing service for the apartment sector. Rents are up 3.2 percent year over year, and the national average rent was $1,377 in April.Rental costs rose in 84 percent
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About 1,700 homeowners in Pahoa, Hawaii, have been forced to evacuate as the lava flow from a volcano inched closer to their properties. Most of the evacuations were centered in the Leilani Estates area on Hawaii’s Big Island.So far, 21 homes have been destroyed following the eruption of the Kilauea volcano, which reportedly has spewed lava more than 200 feet into the air. “That number could change,” Hawaii County spokesperson Janet Snyder
Where are the next urban powerhouses? Realtor.com® researchers are betting on a handful of smaller cities to become red-hot, following in the steps of Seattle; Nashville, Tenn.; and Austin, Texas. Those cities once were known as secondary markets but have soared to primary status in recent years. “We’ll see small cities continue to be growth centers,” says Chris Porter, chief demographer at John Burns Real Estate Consulting. “A lot of
A growing number of lending programs are helping homeowners pay the upfront costs of solar panels. One lender, Guild Mortgage, an independent lender, recently announced a program that allows home buyers to lump the costs of solar panels into an FHA loan. California residents will be the first to have access to the program. Guild Mortgage’s FHA Solar program follows Federal Housing Administration loan requirements and offers down payment o
The number of homeowners behind on their mortgage is slowing. At the end of the first quarter, more than 5.2 million properties were seriously underwater, which means the combined balance of the loans secured by the property was at least 25 percent higher than the property’s estimated market value. That marks the smallest year-over-year drop since ATTOM Data Solutions began tracking such data in the first quarter of 2013.Read more: Equity-Rich
If you want to sell a home for the most money, list it on a Wednesday. If you want to sell it in the fastest amount of time, list on a Thursday. These are the findings from a recent Redfin study, which analyzed a sample of 100,000 homes that sold in 2017.Redfin researchers found that homes listed on a Wednesday sold for an average of $2,023 more than homes listed on a Sunday—the worst day of the week to list. They also found that homes listed o
Benefit from resilience, fresh ideas, an attractive work environment and moreHello fellow real estate superstars. If you’re reading this, chances are you’re looking for additional ways or perspectives to grow your business.The practice of inclusion is a great one to consider.Let’s start by thinking about the differences between what it means to be diverse and what it means to be inclusive. Many people see them as synonymous, but they’re n
Tom Ferry reveals where to find listings todayWhere’s your next listing coming from?The certainty with which you can answer this question says a lot about the state of your business.If you can name several likely sources, that’s great.If you have absolutely no idea — Uh oh! It means you’re operating without a strategy.How certain are you?We advise our coaching members to use a variety of listing generation strategies. Those who run those
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