Real Estate Digest – January 2019

Buying a Home Before 35 Gives Homeowners a Boost During Retirement

1Today’s young adults are less likely to own homes as compared to Gen Xers and baby boomers at the same age. The Urban Institute recently conducted a study to investigate why millennials have lower homeownership rates than prior generations. However, the long-term impact of delays in homeownership is not well understood.
Read on for details.

Buyers Tap into Home Equity, Even As Mortgage Rates Rise

2 As mortgage rates rise, buyers continue to tap into home equity by using refis to extract cash from their homes.
According to Freddie Mac, over 80 percent of buyers who opted to refinance during the third quarter used the “cash out” option, collectively withdrawing $14.6 billion (U.S.) in equity from their homes. This figure marks the highest share of cash-out refis since the housing crisis of 2007. Read on for details.

Existing Home Sales Rise for the First Time in 6 Months

3Existing home sales rose for the first time in October after declining for six consecutive months. Home sales rose in three of four major U.S. housing market regions.
Read on for details.
 
 
 

Foreign Real Estate Investors Increasingly Find Value Outside U.S. Metro Areas

4As real estate prices reach record highs in the largest U.S. metro areas, foreign investors are putting money into the next-best markets. The shift comes as population growth continues well above the nationwide average in second-tier cities, such as Denver, Colo. and Salt Lake City, Utah, according to a survey conducted by PwC and the Urban Land Institute.
Read on for details.

Home Flippers Leave the Market as Flipping Profits Shrink

5A combination of higher costs and lower demand is causing home flippers to flee the market. Home flips, which are defined as homes that are purchased and sold within a 12-month period, declined 18 percent nationally in August 2018 as compared to the same period in 2017, according to Attom Data Solutions.
Read on for details.

Home Price Gains Decline Below 6 Percent for the First Time in a Year

6Home price gains have begun to stabilize in many markets across the U.S. as home sales slow. The rise in mortgage interest rates combined with rising home prices have become just too much for some buyers, especially first-time home buyers. Not only are there fewer sales, the number of listings is on the rise, causing homes to stay on the market longer.
Read on for details.

Mortgage Applications Decline to 4-Year Low as Homebuyers Exit Market

3The housing market is slowing as potential homebuyers have decided to wait it out. The volume of mortgage applications fell to the lowest level since December 2014 during the last week of October, according to a new report from the Mortgage Bankers Association.
Read on for details.

U.S. Housing Starts Rise for Multi-family as Single-family Housing Declines

4U.S. homebuilding rose in October 2018 thanks to an increase in multi-family home projects. The report, published by the Commerce Department, noted improvement in the multi-family sector as the single-family housing market continues to lag. In October, single-family home construction declined for a second straight month.
Read on for details.

National Homeownership Rate Rises to 64.4 Percent

4Homeownership increased among Americans last summer, providing new evidence of a housing market that may be stabilizing. A Census Bureau report found that the national homeownership rate was 64.4 percent in the third quarter of 2018.
Read on for details.

How to Stand Out as a Top Online Realtor

4In today’s competitive housing market, Realtors need to reach potential clients both offline and online. However, it’s becoming more difficult to reach the right people at the right time.
Read on for details.

Real Estate Digest – December 2018

Is the Housing Market Beginning to Soften?

1A decade ago the housing market crashed. Over the past couple of years, a seller’s market meant home prices soared, bidding wars were the norm, and inventory shortages led to frustration for eager buyers. But market experts are starting to speculate that home price increases will slow down and the housing marketing is beginning to soften.
Read on for details.

Foreclosed Homes Appreciate Faster Than the Average U.S. Home

2 Homes that were foreclosed during the recession are rising in value at a significantly faster pace than the typical U.S. home.
Read on for details.
 
 

Senator Warren Unveils Legislation to Address Housing Affordability Crisis

3Affordability continues to be a significant concern for renters and buyers across the country. Organizations and government officials are striving to find solutions. Recently Sen Elizabeth Warren, D-Mass., introduced a proposal that could ease the continued affordable housing crisis in the U.S.
Read on for details.

10 Hottest Housing Markets in the U.S.

4The most popular neighborhoods for buyers are in the suburbs. Emerging areas are the result of millennial home buyers with a generous budget, according to the recent USA Today Realtor.com’s annual list of the hottest ZIP codes in the U.S. These buyers have found improved value in areas from Peabody, Massachusetts to Watauga, Texas.
Read on for details.

How Millennials Are Changing the U.S. Housing Market

5Data from the Census Bureau American Community Survey’s five-year population estimates shows that millennials are settling in ZIP codes in or near downtowns. In many of those ZIP codes, they make up the majority of the population and they are willing to pay high rents to live there.
Read on for details.
 
 

U.S. Housing Faces ‘5 Percent’ Test

6For the first time in years, the 30-year mortgage rates have climbed close to the 5 percent threshold. The U.S. housing market is already struggling with soaring building costs and a tight inventory of available properties.
Read on for details.

August Housing Starts Rise 9.2 Percent

3In August, home building in the U.S. increased more than anticipated. It was seen as a positive sign for the housing market, which had underperformed the overall economy as home interest rates rose.
Read on for details.

U.S. to Add More Cities with $1 Million Median Home Values

4In some neighborhoods, million-dollar homes are becoming the norm rather than the exception. Home prices across the U.S. are rising at the quickest rate in years, creating “$1 million cities” in the process. Over the next year, 23 more cities across the country are anticipated to have median home values over $1 million, per an analysis from Zillow.
Read on for details.

Mortgage Applications Stay Flat Along with Interest Rates

4According to the Mortgage Bankers Association’s seasonally adjusted index, last week’s mortgage application volume remained unchanged from the previous week. But the mortgage application volume was down 15 percent from last year.
Read on for details.

How to Represent Buyers in a Seller’s Market

4Agents often find it challenging to represent buyers in a seller’s market. There is little inventory, housing prices soar, and the competition to buy quality homes can lead to bidding wars. Consider these eight factors when you represent buyers in this type of market.
Read on for details.

Real Estate Digest – November 2018

Trump Tariffs Expected to Hit U.S. Home Builders Hard

1Due to tariffs imposed by the Trump administration, home builders across the nation have seen significant price increases in lumber, steel, aluminum, and other housing materials.
Read on for details.
 

10 Cities Account for 33 Percent of Total Value of U.S. Residential Real Estate

2 A new report from LendingTree reveals one-third of the country’s $28.4 trillion in residential real estate value is located in 10 American cities. New York comes in at number one, where the value of all real estate is equal to the gross domestic product of France.
Read on for details.

July Foreclosure Starts Up in 44 Percent of U.S. Real Estate Markets

3ATTOM Data Solutions recently released its July 2018 U.S. Foreclosure Market Report, revealing foreclosure starts increased from a year ago in 44 percent of the metropolitan statistical areas analyzed in the report.
Read on for details.
 

Home Builder Confidence Remains Steady in September

4In September, the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) revealed the market for newly built single-family homes remained at 67. This unchanged figure reflects steady homebuilder confidence in September.
Read on for details.

Housing Market Warms Up to Buyers

5For many months now, it has been a seller’s market with low supplies and rising prices. But the trend could be reversing.
Read on for details.
 
 

Mortgage Rates Reach 6-Week High

6Upbeat economic data and a bulging deficit led to a yield-lifting sell-off of bonds. Questions gripped the housing market as rates for home loans soared to a six-week high.
Read on for details.
 

Most Property Markets in the U.S. Have Recovered From Housing Crash

3Now a decade after the housing crash, the residential property market has recovered. However, millions of homeowners continue to wait to regain the value lost in their homes.
Read on for details.
 

Toll Brothers Reports Strong Demand for Homes Across the Country

4Toll Brothers (TOL), a luxury home builder, revealed the demand for its houses was strong across the country. Last quarter, the company executed a record number of contracts.
Read on for details.
 

Vacation Rental Buyers Look for Profits Over Pleasure

4Research from Savills and HomeAway reveals home buyers are now prioritizing rental income over personal use of vacation properties.
Read on for details.
 
 

How to Create Real Estate Signs That Sell

4Signs are one of the most effective marketing tools in a real estate agent’s arsenal. Real estate signs express something about the agent and their residential or commercial real property business.
Read on for details.

Real Estate Digest – October 2018

Home Sales to International Buyers Decline, Says NAR

1International buyers are spending less on U.S. homes, according to a new report from the National Association of Realtors. The dollar volume of U.S. home sales to international buyers declined 21 percent between April 2017 and March 2018 compared to the same period one year ago.
Read on for details.

25 Percent of U.S. Homes Now Equity Rich

2Nearly a quarter of U.S. properties with mortgages are now equity rich, according to a report from ATTOM Data Solutions. These properties have a low loan-to-value ratio of 50 percent or less, which means the homeowners have equity stakes of at least 50 percent.
Read on for details.

Buyers Seek Out Smaller Markets As Home Prices Climb in Midsize Cities

3The dramatic increase in U.S. home prices since 2011 has reshaped the order of the country’s hottest housing markets. While many midsize metro areas had previously been considered at the top of the list when it comes to affordability, these up-and-coming cities are seeing declines or slowing growth in sales as a result of sharply rising prices and shrinking home supplies. Read on for details.

New Home Prices Have Dropped to Lowest Levels Since February 2017

4As home prices continue to decline, homeowners considering buying a newly built home may want to take the plunge now. The median price of a new-construction home slid to $302,100 in June, according to a joint report by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
Read on for details.

Pending Home Sales Increase 0.9 Percent in June

5Pending home sales increased slightly in June rising 0.9 percent compared to May, according to the National Association of Realtors. Pending home sales have continued a downward year-over-year trend for six straight months. Sales were 2.5 percent lower than one year ago.
Read on for details.

Construction Spending Increased 0.4 Percent From May to June

6Construction spending increased 0.4 percent from May to June, marking a 4.5 percent year over year increase to a seasonally adjusted annual rate of $1,309.5 billion, according to data from the U.S. Census Bureau. Construction spending also rose 4.3 percent during the first five months of the year as compared to 2017, totaling $497.1 billion.
Read on for details.

Mortgage Rates Make a Comeback in Critical Moment for Housing

3Mortgage rates have increased as the broader bond market has experienced gains, creating a scenario that a top economist is referring to as a key test of the health of the housing market.
Read on for details.
 

Weekly Mortgage Applications Decline as Home Prices Rise

4Rising home prices are impacting the mortgage industry as weekly mortgage application volume declines. Mortgage application volume declined 17 percent from one year ago, according to the Mortgage Bankers Association’s seasonally adjusted report.
Read on for details.

Zillow Group Acquires Mortgage Lenders of America

4Zillow Group announced it has entered into an agreement to acquire Mortgage Lenders of America. Founded in 2000, Mortgage Lenders of America is a national mortgage lender headquartered in Overland Park, Kan. The deal is expected to close during the fourth quarter of 2018.
Read on for details.

How to Become a Neighborhood Expert and Build a Strong Real Estate Business

4It can take years to become the top Realtor in your area. However, becoming the go-to agent who sells the most homes doesn’t only result from hard work. Today, you can actually build that same kind of business faster by also taking advantage of digital marketing opportunities.
Read on for details.

Real Estate Digest – September 2018

VeroFORECAST Predicts 4.4% Increase for U.S. Real Estate Through May 2019

1Residential market values of U.S. real estate will appreciate at the average rate of 4.4 percent through May 2019, predicts the 2018 second quarter VeroFORECAST.
Read on for details.

Americans Continue to Shun ARMs a Decade After the Financial Crisis

2At the height of the financial crisis, Americans shunned adjustable-rate mortgages. In late 2008, the share of mortgage applications with floating rates plummeted under 1 percent. Ten years later, the Mortgage Bankers Association reveals the share continues to remain low at 6 percent in June. In the decade before 2008, the average was around 20 percent.
Read on for details.

FHA Commissioner: Big Banks Should Return to FHA Lending

3In the past few years, many of the largest banks in the country have moved away from Federal Housing Administration lending. The government’s increased use of the False Claims Act scared them off, fearing the possibility of having to pay massive settlements.
Read on for details.

Home Building Sentiment Declines Due to Rising Lumber Prices

4U.S. homebuilders recognize the opportunity brought on by an increased demand for housing. But they are being held back by rising lumber prices.
Read on for details.

Housing Market Still Strong Despite Mortgage Rate Concerns

5The Federal Reserve has started to raise mortgage interest rates. The spike has many people wondering if this could be the end of the housing boom. Industry professionals do not believe so.
Read on for details.

Mortgage Applications Decline as Refinancing Reaches 20-Year Low

6Despite the drop in mortgage interest rates, homeowners are not tempted to refinance their loans. The seasonally adjusted mortgage application rates were down 0.5 percent as compared to the previous week. The Mortgage Bankers Association reports total application rates decreased 13.5 percent from this time last year.
Read on for details.

Guess Which Generation is Struggling the Most to Purchase Homes?

3Saving for a down payment on a home is a challenge. It becomes harder when potential buyers have high rents and student loan debt with rising property prices. Though millennials are the most likely to face these obstacles, they are not the generation having the most difficulty saving for a new home. It is Generation X.
Read on for details.

U.S. Mortgage Rates Move Higher

4For the first time since early June, long-term U.S. mortgage rates increased. According to mortgage buyer Freddie Mac, the average rate on a fixed rate, 30-year mortgage went up to 4.53 percent. A week earlier the rate was 4.52 percent.
Read on for details.

The White House Wants to Privatize Fannie Mae and Freddie Mac

4The Trump administration is looking to Congress to remove the federal charters for Freddie Mac and Fannie Mae. The plan will release them from U.S. control during a sweep to reorganize the government.
Read on for details.

6 Home Buying Myths Buyers Must Stop Believing

4Successful real estate agents understand what buyers think. Unfortunately, they’ve discovered that many clients hold fast to home buying myths. These false beliefs are getting in the way of closing on their dream home. Here are the six home buying myths buyers must stop believing:
Read on for details.

Real Estate Digest – August 2018

Why Buying a Home in 2018 Could be a Smart Move

1Soaring home costs, low inventory and the 2007/8 housing crisis may have put some would-be home buyers on the fence. But for those who are financially ready, there are a few key reasons 2018 could be the right year to buy a home.
Read on for details.

Five Fastest Selling Cities for Residential Real Estate

2A strong job market and low housing supply are fueling demand. In April, there was a four-month supply of homes on the market. A six-month inventory is normal, according to the National Association of Realtors.
Read on for details.
 

Almost Half of Freddie Mac Mortgages in Q1 Borrowed by First-Time Home Buyers

3Recent market and mortgage conditions data indicates that more people are buying their first homes. First-time homebuyers accounted for nearly half the new mortgages issued by Freddie Mac in the first quarter of 2018, according to Bloomberg.
Read on for details.
 

Slow Sales at Home Depot Signal Warning for Housing

4The very strong housing market might be slowing down. Home Depot recently reported quarterly sales and the CEO noted, “a slow start to the spring selling season.”
Read on for details.
 
 

Homeowners Gain $1 Trillion in Home Equity

5In the past year, homeowners gained $1 trillion in home equity. Despite these gains, many homeowners with mortgages remain underwater on their home loans.
Read on for details.
 
 

Homeownership Trends Upward as Renter Households Decline

6Renter households are starting to decline. Last year, the homeownership rate rose for the first time in 13 years. Current market conditions, including rising wages and looser credit standards, make it an ideal time for people to purchase houses.
Read on for details.

Mortgage Rates Reach Seven-Year High

3In May, mortgage rates reached a seven-year high. Rates for home loans were the highest since 2011. Along with rising mortgage rates, low supply and soaring prices put a strain on the current housing market.
Read on for details.

New Home Prices Decline to 12-Month Low

4For years, homebuyers have heard that home prices are steadily increasing. However, the cost of purchasing a newly constructed home recently fell to its lowest point in the past year. From March to April, the median price of a new home plummeted by almost 6.9 percent.
Read on for details.

The Best Cities for Housing Market Purchasing Power

4Based on the current housing market conditions, on average prospective buyers across the country have less purchasing power than two years ago. In today’s market, savvy buyers in the best cities use their market purchasing power to get the most for their money.
Read on for details.

Helping Clients Celebrate Their New Home Purchase on Social Media

4It’s no secret that millennials like to share their lives on social media. So it comes as no surprise that millennials, as well as other age groups, like to post pictures of themselves with their newly purchased home.
Read on for details.

Real Estate Digest – July 2018

Top 7 Trends Affecting Residential Real Estate

1As home buying trends shift, the number of residents in metro areas across the country is expected to grow at a faster pace for at least the next two decades. Larger numbers of residents mean more housing and more attention paid to residential real estate markets.
Read on for details.

Amazon Expands Into Real Estate With Amazon Experience Centers

2In recent months, Amazon has expanded into real estate in several ways. For its most recent attempt at increasing the company’s influence on the real estate industry, Amazon announced it has partnered with Lennar, the country’s largest homebuilder, to launch what it calls “Amazon Experience Centers.”
Read on for details. <

Banks Are Walking Away from Low-Income Homebuyers

3Low- and moderate-incomes only made up 26.3 percent of borrowers in 2017, according to recently released federal data on mortgage lending from the Consumer Financial Protection Bureau. This was a decline of 10.3 percent from the 36.6 percent figure reported in 2009.
Read on for details.

Homebuyers Seeing Lower Asking Prices in Several Hot U.S. Markets

4In a handful of red-hot real estate markets across the country, asking prices are cooling off. Austin, San Antonio, and Honolulu, are three markets where median listing prices dropped significantly, according to a new report from Trulia.
Read on for details.

Housing Confidence Reaches New High As Home Prices Jump

5Consumer confidence increased to its highest level on record in April, according to a monthly sentiment index from Fannie Mae.
Read on for details.
 
 

The Best Day and Time to List a Home for Sale

6A new study from Redfin uncovered that Thursday is the best day for agents to debut new home listings. Redfin found that homes listed on Thursday were more likely to sell within 90 to 180 days. Homes also get five times more views on the first day they are listed as compared to subsequent days.
Read on for details.

Top 10 Most Affordable Places to Live in the U.S.

3Housing cost is not the only factor that determines home affordability. How much potential homebuyers earn also matters. To identify the most affordable places to live across the country, SmartAsset, a personal finance technology company, calculated the total cost of five expenses associated with owning a home.
Read on for details.

Why Americans Are Leaving Urban Cores for the Suburbs

4Americans are moving away from urban cores to lower-density suburbs and exurbs, according to a recent analysis of United States Census Bureau data. The analysis, performed by William Frey, a demographer at the Brookings Institution, established 2012 as the peak year of the urban renaissance. Since then, the growth of urban cores has declined by half while exurban county growth has quadrupled.
Read on for details.

The Best Places to Live in the U.S. for 2018

4The annual list compiled by U.S. News & World Report, a global authority in rankings and consumer advice, ranks the 125 largest metropolitan areas on a variety of characteristics. The top-ranked places are considered to have the best job prospects, quality of life, and affordability.
Read on for details.

5 Tips to Help You Get Your Client’s Asking Price

4Higher offers are better for you and your client. Limited inventory or a highly competitive market often help you get offers that are higher than your asking price. However, markets move down as well as up and the marketplace will not always accommodate your buyer’s optimistic expectations.
Read on for details.

Real Estate Digest – June 2018

Zillow’s Instant Offers Program Stirs Controversy Among Brokers

1As Zillow expands its “Instant Offers” program and vows to become a direct player in real estate transactions by buying and selling homes, brokers are taking a closer look at what these changes might mean for them.
Read on for details.

U.S. Home Prices to Rise at Double the Pace of Inflation and Wages

2U.S. home prices are expected to rise double the pace of inflation and wages this year, according to a Reuters poll. The price increases are the result of a declining supply in single-family homes coupled with rising demand.
Read on for details.

Social Media Photos Inspire Millennials to Become Homeowners

3Millennials are finally landing better jobs with higher salaries. They are starting to get married and have kids. They are also getting tired of living with their parents.
Read on for details.
 
 

Number of Multigenerational Households Surges to All-time High

4The share of multigenerational U.S. households reached an all-time high in 2016, according to a new analysis of U.S. Census Bureau data from the Pew Research Center. In 2016, the number of multigenerational households rose to 20 percent of the U.S. population, or 64 million people.
Read on for details.

Most New Home Construction in a Decade

5Buyers can finally relax as home construction rises. In February, builders completed the most newly constructed homes in a decade, according to a residential sales report jointly released by the U.S. Census Bureau and U.S. Department of Housing and Urban Development.
Read on for details.

Homeowners Migrate in Search of Lower Property Taxes

6A new report demonstrates the impact property taxes have had on migration across the country. The 2017 property tax analysis from real estate data provider Attom Data Solutions shows that Americans paid $293.4 billion in property taxes in 2017, marking a 6 percent increase over 2016. The property tax cost per home averages out to roughly $3,399.
Read on for details.

Buyers Want in on Real Estate Market Despite Mortgage Rate Increases

3Rising mortgage rates generally tend to force buyers to stay on the sidelines. This year, they may do the reverse: would-be home buyers want to get off the sidelines before it becomes even more expensive to take out a home loan, according to a new Credit Suisse survey.
Read on for details.

Foreign Investment in U.S. Real Estate Reaches New High

4Foreign investment into the U.S. has reached a new high, according to U.S. Ultra Prime Real Estate, a recent market report from Beauchamp Estates in association with Leslie J Garfield & Co. The report examined foreign investments for U.S. properties priced at $1 million or higher and included analysis by Dataloft and Trulia.
Read on for details.

Apartment Rents Remain Steady Despite New Inventory

4Apartment vacancy increased slightly to 4.7 percent in the first quarter, an increase of 0.1 percent from the fourth quarter of 2017, according to data released by Reis Inc. The vacancy rate was up 4.3 percent from one year earlier, while the average apartment rent increased by 3.9 percent.
Read on for details.

5 Tips to Generate More Real Estate Appointments Now

4It is 5 p.m. and today you only spoke with two people who brushed you off with a “Call me back next month.” Does this sound familiar?
Read on for details.

Real Estate Digest – May 2018

2019 Federal Budget Housing Outlook

1Reluctantly, on March 23, 2018, President Donald Trump signed a $1.3 trillion federal budget that will fund the government until September 30, 2018.
Read on for details.
 
 

2017 Homeownership Rate Increased In Spite of
Shortage of Homes

2Despite rumors of a housing market that is leaving growing numbers of would-be buyers behind, the homeownership rate is increasing once again.
Read on for details.
 
 

RE/MAX Set to Launch Marketing Automation Tools for Agents

3RE/MAX has announced a new service for RE/MAX agents: Design Center Automation. The service offers an easy way for agents to leverage marketing opportunities for their listings, helping them to attract more leads and referral business. The new tools are a follow-up to a refresh of the RE/MAX brand in August 2017.
Read on for details.

First U.S. Real Estate Deed Recorded Using Ethereum

4Propy Inc. has achieved a major milestone for cryptocurrency by initiating the first U.S. deed recorded using only blockchain technology. The Propy pilot project, launched in January in partnership with the City Clerk’s Office in South Burlington, Vt., used Ethereum to transact and record contracts and documents instead of using the city’s recording system. City representatives say that Vermont’s legislation allows for the flexibility to use blockchain in real estate transactions.
Read on for details.

NAR Cheers Dodd-Frank Reform

5The National Association of Realtors has announced its support for a Dodd-Frank reform bill, S. 2155 or the Economic Growth, Regulatory Relief and Consumer Protection Act, and urges Congress to pass it into law. Although the final vote was originally expected in March, it was pushed back in the Senate in order to consider the amendments.
Read on for details.

More Homebuyers Bidding on Homes Sight Unseen

6Thirty-five percent of homebuyers last year said they made an offer on a home sight-unseen, up from 33 percent in May 2017 and 19 percent in June 2016. These findings are based on a Redfin-commissioned survey conducted in November and December 2017, which reviewed responses from 1,503 homebuyers who purchased their homes within the previous 12 months.
Read on for details.

Millennials Most Active Homebuyer Group

3For the fifth consecutive year, millennials have been responsible for the largest share of home buying activity, according to the 2018 Home Buyer and Seller Generational Trends study from the National Association of Realtors.
Read on for details.

Homesellers Spy on Prospective Buyers During Open Houses

4Real estate agents and homebuyers have noticed homesellers spying on them as they tour properties for sale. Tools for spying involve everything from old-fashioned security cameras to newer smart devices which track their conversations and actions during open house events.
Read on for details.

Home Depot Donates $50 Million to Reduce Home Construction Shortage

4Home Depot has announced it will donate funds to a construction labor training program with the goal of helping to provide the talent needed to resolve the current home inventory shortage. The company plans to donate $50 million to train 20,000 new construction workers at the Home Builders Institute over the next decade.
Read on for details.

Low-cost Tips to Improve Curb Appeal

4Gorgeous and spacious interiors, including an updated kitchen and bathroom and plenty of storage, can help attract homebuyers. However, before they see these areas, they see the landscaping.
Read on for details.

Real Estate Digest – April 2018

With Home Sellers Making Record Profits, Why Aren’t There More Sellers?

1It’s a great time to sell a home. According to Attom Data Solutions, sellers profited by an average of $54,000 at the end of 2017. That’s a 10-year high and it means sellers brought in an average return on investment of nearly 30 percent. So why aren’t more homeowners putting their homes on the market?
Read on for details.

How Higher Mortgage Rates Might Impact the US Housing Market

2As mortgage rates rise and new tax laws limit mortgage interest deductions, some experts expect downward pressure on home prices.
Read on for details.
 
 

Green Home Construction is Becoming More Main Stream

3Green home construction is becoming main stream among single-family and multifamily home builders, according to the report “Green Multifamily and Single Family Homes 2017 SmartMarket Brief.”
Read on for details.
 
 

Homesnap Raises 14 Million for Real Estate Intelligence

4Rockville, Maryland-based Homesnap has seen many changes since its days as a consumer-facing app for displaying information about local homes by taking a photo. While the app still currently works this way for prospective buyers, these days the company has shifted its focus towards U.S. real estate agents. Close to 75 percent of agents are reportedly using it.
Read on for details.

Single Homebuyers Can Only Afford 45 Percent of U.S. Housing Stock

5It takes the average single homebuyer 11 years to save a 20 percent down payment for a median-priced home, according to a new Zillow analysis. That’s more than double the time it takes a married couple.
Read on for details.
 
 

Luxury Apartment Construction Booming

6With the trend for renters to become first time home buyers on the decline because of rising home prices and mortgage rates, you might think it’s good news that in 2017 new apartment completions (395,775 units) in the 150 largest U.S. cities were a whopping 46 percent more than in 2016 — double the long-term average — according to RealPage, an apartment management software and data company.
Read on for details.

Top 10 Cities to Buy a Home Big Enough to Raise a Family

3Sometimes it is difficult to find a budget friendly home big enough to comfortably fit a growing family. SmartAsset, a personal financial website, looked at the 100 largest cities in the country and used the following data metrics to find the best cities to buy a home big enough to raise a family: the 5-year change in median home values, the 5-year change in median rent costs, average effective property tax rate, the percent of houses with at least two bedrooms, median housing cost as a percent of income, and the percent of homeowners who are housing cost burdened (meaning they spend more than 30% of their income on their mortgages).
Read on for details.

U.S. Luxury Real Estate Prices Return to ‘Normal’

4U.S. luxury markets have reached a “new normal” of subdued price growth after eight years of frenzied appreciation post-recession, according to a report by Coldwell Banker Global Luxury.
Read on for details.
 
 

Americans Increasingly Prefer Walkable Communities

4According to a recent survey for the National Association of Realtors, 53% of people polled said they wouldn’t mind living in neighborhoods with smaller properties if it means they can walk to stores and restaurants. In 2015, only 49% would have been willing to trade square footage for walkability.
Read on for details.

How to Humanize Your Real Estate Brand in a Digital World

4With all the social media frenzy going on, why does it seem increasingly difficult as a real estate professional to connect with actual people and humanize your brand?
Read on for details.

Real Estate Digest – March 2018

A Plague of Million-dollar Homes Haunts U.S. Real Estate

1Owning a million-dollar home isn’t as rare as it used to be. The share of homes valued at more than $1 million has increased by more than fourfold since 2002, according to data released by real estate site Trulia. The company analyzed luxury real estate markets in the top 100 U.S. metropolitan areas and found that 4.3 percent of homes across these regions are worth $1 million or more, compared with 1 percent in 2002.
Read on for details.

Millions of Americans Can’t Afford Their Rent

2Nearly half of all renter households were considered cost-burdened in 2018, according to a new report from Harvard’s Joint Center for Housing Studies. That means nearly 21 million households are paying more than 30 percent of their income to cover their housing, which includes utilities. Other renters are experiencing an even tighter jam. Roughly 25 percent of renter households are paying more than half their income for housing.
Read on for details.

Home Prices Are Set to Soar This Year

3The supply of homes for sale is continuing to fall as the strengthening economy pushes demand. Sales prices increased 7 percent annually in November 2017, according to a new report from CoreLogic.
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Home Equity Hits a Record High and Here’s What Homeowners Are Spending It On

4Homeowners are accruing record amounts of home equity, thanks to fast-rising values in today’s housing markets. It comes as no surprise that people are starting to tap into that cash. What are they spending it on? Most opt to make their homes even more valuable.
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Four Growth Areas for Homebuilding in 2018

5A growing economy along with positive demographic trends are expected to fuel growth for the housing market, even as affordability challenges rise from an increase in prices and mortgage rates, according to realtor.com®’s 2018 Housing Forecast.
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Consumers Shouldn’t Expect to Move This Year

6The lack of affordable and buildable lots has hampered housing production, according to a survey released by the National Association of Home Builders. Seventy-nine percent of prospective buyers say they are only able to afford half the homes in their markets. Housing starts in 2017 rose 9 percent over 2016, but the characteristics of new homes remained mostly the same, the NAHB notes.
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Climate Change Could Start Playing a Bigger Role in Real Estate Prices

3Storm surge flooding has become a major concern in Miami, which means waterfront properties aren’t as desirable as they once were. Instead, high-end buyers are seeking out parts of the city with a higher elevation, such as Little Havana and Little Haiti.
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Citigroup Says California and New York Homeowners Could See Taxes Increase By As Much as $3,000

4Homeowners in high-tax states on the coasts are going to experience the largest increases in their tax bills thanks to the new tax law, according to a Citigroup real estate analyst.
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10 U.S. Cities Where Homeownership Is Increasing

4For a significant number of Americans, homeownership remains an elusive dream. Soaring levels of student loan debt, the challenges of saving enough for a down payment, and skyrocketing housing prices are just a few of the major reasons keeping renters from becoming owners.
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5 Tips for Improving Your Real Estate Sales Blog

4Most real estate agents understand the importance of maintaining a blog as a way to drive traffic to their websites, to establish authority and more. However, it can be challenging to come up with worthwhile topics. Here are 5 tips for improving your real estate sales blog to help you get better results.
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Real Estate Digest – February 2018

Five Real Estate Trends To Watch for 2018

1Investor interest, which sparked a sharp rise in home prices and made it difficult for homebuyers to gain a foothold in the market, will begin to ease in 2018 as part of continued market improvements, according to the realtor.com® 2018 National Housing Forecast.
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Compass Secures Largest Real Estate Tech Investment in U.S. History

2Compass, a real estate technology fund based in New York City, announced that SoftBank Vision Fund, the investment arm of the Japanese technology company SoftBank, is investing $450 million in the company.
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US NAR Warns Tax Bill Will Cause Housing Prices to Drop in Every State

3Proposed changes caused by the recently passed tax bill are raising concern in the real estate market. Some supporters of the tax legislation argue that doubling the standard deduction means the mortgage interest deduction and state and local property tax deductions are no longer needed. However, the privilege of home ownership in the U.S. has always been closely linked to the availability of the mortgage interest deduction.
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New Study Confirms Marketing Opportunity for “Hyper-local” Real Estate Expertise

4Real estate professionals admit they are not delivering when it comes to providing their clients with hyperlocal knowledge of specific housing markets, according to a new survey.
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Nextdoor Expands Real Estate Division into Three New Markets

5Community networking platform Nextdoor announced the expansion of its real estate business into three new markets: Minneapolis-St. Paul, Minn.; Washington D.C.; and Tampa-Saint Petersburg, Fla. The company, which recently raised $75 million in funding, says it selected these areas for their robust market conditions and long waiting lists.
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Profits From House Flipping Continue to Decline

6Even as investors have increased home flipping activities, they are seeing lower profits in return.
Higher home prices, increased renovation costs, and a lower supply of distressed properties are making it increasingly expensive to get started, even as the demand for move-in ready homes remains high. Read on for details.

This Is How Long It Takes to Sell a Home

3These days it takes three weeks to sell a home, according to the National Association of Realtors. Five years ago, the median number of days a home stayed on the market was eleven weeks.
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U.S. Midwest Emerges as Top Draw for Real Estate Investors

4Investors shifted their focus back to the Midwest this year, according to a new report released by HomeUnion, an online real estate management and investment firm.
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Wire Fraud Is the Fastest Growing Real Estate Cybercrime in the U.S.

4According to the FBI, the Internet Crime Complaint Center saw a 480 percent increase in the number of complaints filed in 2016 by those in the real estate industry. The majority of these complaints were related to real estate wire fraud, a scam that has become more common.
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8 Reasons to Market Your Listings With 3D Tech

4In the last few months, Facebook has rolled out some updates to their Ads Manager feature that will affect the way you advertise your listings, business, and yourself as a REALTOR®. These updates include the removal of key options in detailed targeting and the addition of new options to target audiences and new ad layouts designed to provide audiences with a more engaging experience.
Read on for details.