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Real Estate

Realogy Named On ‘Most Ethical Companies’ List

NAR Daily News Magazine - February 13, 2018 - 12:00am

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

Categories: Real Estate

5% Mortgage Rates Aren’t Scaring Buyers

NAR Daily News Magazine - February 13, 2018 - 12:00am

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

Categories: Real Estate

More Markets Hitting Record-High Home Prices

NAR Daily News Magazine - February 13, 2018 - 12:00am

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...

Categories: Real Estate

Buyers Entering the Market Solo Struggle

RisMedia Consumer News - February 12, 2018 - 3:33pm

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

Airbnb Income Counts Toward Refinancing

NAR Daily News Magazine - February 12, 2018 - 12:00am

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

Categories: Real Estate

Housing Affordability to Worsen in Spring

NAR Daily News Magazine - February 12, 2018 - 12:00am

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

Categories: Real Estate

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

NAR Daily News Magazine - February 12, 2018 - 12:00am

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

Categories: Real Estate

3 Ways to Improve Customer Connections

NAR Daily News Magazine - February 12, 2018 - 12:00am

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

Categories: Real Estate

McMansions Back on the Rise?

NAR Daily News Magazine - February 12, 2018 - 12:00am

Smaller homes may be generating more buzz lately, but many cities are still building supersized properties. Find out which U.S. metros have the...

Categories: Real Estate

Wells Fargo Honors ‘Guardian Angel’

NAR Daily News Magazine - February 9, 2018 - 12:00am

Cynthia Shafer—a 2002 Good Neighbor Award winner—received an unexpected gift for her nonprofit, Bedz for Kidz, from the Wells Fargo...

Categories: Real Estate

Bitcoin Volatility Leaves Its Future Unknown

NAR Daily News Magazine - February 9, 2018 - 12:00am

The value of the cryptocurrency has been on a roller coaster. Does that mean it’s just a fad, or could it actually have the power to...

Categories: Real Estate

Homeowner Shot After Threatening Contractor

NAR Daily News Magazine - February 8, 2018 - 12:00am

A real estate agent found herself in the middle of a spat between a homeowner and a remodeling contractor in Laguna Woods, Calif.

Categories: Real Estate

Utility Bills May Be Getting Cheaper

NAR Daily News Magazine - February 8, 2018 - 12:00am

Utility companies will pay less tax from a recent tax overhaul, and many are planning to pass those savings on to customers.

Categories: Real Estate

Immigration Concerns Rattle Some Real Estate Moves

NAR Daily News Magazine - February 8, 2018 - 12:00am

Heightened concerns over the nation’s immigration policies caused some homeowners to sell their home or not buy at the end of last year, a...

Categories: Real Estate

The True Silent Sufferers in Housing

NAR Daily News Magazine - February 8, 2018 - 12:00am

It’s not millennials who are having the toughest time breaking into the housing market, a new study shows.

Categories: Real Estate

Denver Officials Want to End ‘Slot Homes’

NAR Daily News Magazine - February 8, 2018 - 12:00am

City officials are seeking a moratorium on this popular type of multiunit construction that is often detested by locals for its appearance....

Categories: Real Estate

Renters Are Getting Frustrated

NAR Daily News Magazine - February 7, 2018 - 12:00am

The majority of renters say they want to own a home in the future and believe that homeownership is a critical piece of the American dream. But...

Categories: Real Estate

Could the Inventory Crunch Worsen?

NAR Daily News Magazine - February 7, 2018 - 12:00am

Housing permits, a gauge for new-home activity, sunk by significant numbers across the country at the end of 2017. Fewer new homes in the pipeline...

Categories: Real Estate

Loan Demand Stalls in Volatile Week

NAR Daily News Magazine - February 7, 2018 - 12:00am

The highest mortgage rates in four years caused a pause in mortgage applications from home buyers and refinancers.

Categories: Real Estate

Owners Upbeat That Equity Rises Will Continue

NAR Daily News Magazine - February 7, 2018 - 12:00am

Homeowners are so optimistic that their home’s value will continue to increase that they’re increasingly turning to home equity loans...

Categories: Real Estate