Millennials have been stereotyped as a generation that lacks savings or money management skills. But the data isn’t backing that up.Sixteen percent of millennials ages 23 to 37 have $100,000 or more in savings, which is double the number of young people who had that much stowed away in 2015, a newly released survey from Bank of America shows. Nearly half—or 47 percent—have $15,000 saved, up from 33 percent in 2015.Millennials came of age
Existing-home sales in 2017 surged to the best year for sales in 11 years, the National Association of REALTORS® reported Wednesday.Total existing-home sales—which include completed transactions for single-family homes, townhomes, condos, and co-ops—rose 1.1 percent in 2017 to a 5.51 million sales pace. The sales pace surpassed 2016’s 5.45 million, which had been the highest pace since 2006.However, the end-of-the-year sales numbers were o
The traditional black-and-white business card is dying out in some professions, but salespeople and marketers are reinventing their look to keep others intrigued.The Wall Street Journal reports an increase in the do-it-yourself business card, marked by unusual designs and materials. Business cards are being made of everything from metal to plastic and even wood. Some are larger than your traditional business card, while others are much tinier to
Mortgage rates are moving higher, and that has some home shoppers rushing to locking in rates before they edge up even more.Mortgage applications for refinancings and home purchases increased 4.5 percent last week compared to the previous week on a seasonally adjusted basis, the Mortgage Bankers Association reported Wednesday. Loan applications are now 6.1 percent higher than the same week a year ago.Broken out, applications to purchase a home su
More companies are hoping to capture an internet domain name beyond the standard .com, and some are willing to pay premium prices for a domain that ties into their industry.Donuts Inc., a domain name provider, announced what is believed to be one of the largest sales to date for a premium domain name in real estate–related industries with the acquisition of “home.loans” for $500,000. Donuts holds a giant portfolio of top-level domains on th
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The housing market and economy are starting the year with a fairly strong start, but several challenges persist in 2018. Freddie Mac economists point out some of the biggest risks to the economy and housing markets: declining affordability, obstacles to millennial homeownership, and the possibility of another recession.Home sales, housing construction, and housing prices are expected to move modestly higher in 2018 compared to 2017, Freddie Mac n
The number of cohousing communities is on the rise across the country and is spotlighting the desire for greater multigenerational neighborhoods. There are currently about 165 such communities but another 140 are in the planning stages, according to the Cohousing Association of the U.S.In these communities, people own their own homes and can sell them. Residents contribute to a fund for maintaining shared facilities.A development called Pioneer
The cryptocurrency is generating more buzz in real estate. Bitcoin can have a fluctuating value, but that isn’t stopping some sellers from wanting to accept the currency for their home sale.In one recent example, a seller of a condo in Miami says he is only willing to entertain bitcoin offers. Several other listings are also showing willingness to accept the digital currency as a payment option.Fortune recently sought to find out how many bit
Maybe you’ve received a “Let’s meet for coffee” invitation from a mortgage loan officer. How should a real estate professional handle being prospected?Even if you have a preferred lender or two, you might find value in meeting beyond just a free cup of coffee, says Ryan Brandenburger, branch manager of Ohio-based CrossCountry Mortgage. Here are three points to consider asking a mortgage loan officer about. Tips on the current loan proces
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