While many Americans want to upsize in the COVID-19 pandemic, others are still embracing a tiny home lifestyle, whether as a full residence or just a home office, finds a new survey from IPX1031, a 1031 tax exchange resource. There’s enough desire that investors still think it’s a lucrative investment, too.Tiny homes are often considered to be 500 square feet or less.Seventy-two percent of 2,000 Americans, surveyed in November by IPX1031, sai
All-cash deals are rising in certain areas of the country, comprising about 36% of the market nationwide, according to data from realtor.com®. Buyers who can pay all in cash are finding themselves in a prime position in the competitive housing market, as sellers tend to favor those who can. Meanwhile, buyers who must rely on financing are struggling to compete.Cash sales are climbing the most in the Northeast and West, up 3 and 2 percentage
Over the next decade, expect more clients to ask about a home or building’s ventilation and clean air systems. Some of the nation’s largest developers told The Wall Street Journal that they believe air purifying systems will be commonplace in homes by 2030.For example, indoor sensors can detect when air quality has dropped and automatically increase ventilation. These systems mitigate pollution or smoke entering the home and remove
Demand may fall for homes in areas at high risk of natural disasters, such as flooding and wildfires, which could cause price growth to slow. A new realtor.com® analysis shows that properties in such areas will likely see 5% less price growth in 2021 than homes in similar areas at low risk of natural disaster.This trend is already rising. Homes in high-risk flood areas have seen a sales price growth of 5 percentage points lower than similar home
Mortgage financing giant Fannie Mae announced it would be extending some of its flexible lending standards into 2021 due to the COVID-19 pandemic. The extensions include allowing verbal verification of employment and power of attorney flexibilities, as well as some appraisal alternatives to ensure that transactions don’t get delayed. The extensions also require more checks on payment histories of self-employed borrowers.The temporary measures w
Homeowners are building wealth as property appreciation surges to its highest level since 2014. In the third quarter, the average homeowner had gained about $17,000 in equity year over year, according to CoreLogic’s latest Home Equity Report. Owners in Washington State saw the largest annual increase in home equity at $35,800, followed by California at $34,000.“The housing market has remained a strong pillar in an otherwise tumultuous ec
Proudly celebrating our 8 year anniversary, we owe most of that to the ones that continue to support our hard-working real estate company. Your business is greatly treasured and we'll continue to strive and bring you the best of the best services currently able. We've recently upgraded our system in an effort to push more so that way and will be here when ready to deal business. Visit www.iprore.com for the latest real estate news and services.Wi
The 30-year fixed-rate mortgage rate averaged 2.71% this week, holding at the all-time low first set last week, Freddie Mac reported.The ultra-low mortgage rates are making homebuying more attractive and boosting sales activity to the highest level since 2006, economists said at the National Association of REALTORS®’ virtual Real Estate Forecast Summit on Thursday. While home prices are rising annually by double-digit percentages, mo
Despite the economic uncertainties continuing to surround the pandemic, one fact has become crystal clear: Americans are ready to buy a new home. Low inventory, bidding wars, and record-low mortgage rates are giving consumers a new sense of FOMO—fear of missing out—and spawning a hot housing market, Ali Wolf, chief economist for real estate analytics company Zonda, said Thursday during the National Association of REALTORS®’ virtual Re
A peaceful, subdued tone and cheerful, vibrant color make up the color combo of Pantone’s “2021 Colors of the Year.” This year the paint firm chose two paint colors—Ultimate Gray, a nature-inspired nod to pebbles on a beach, and Illuminating, a bright yellow hue.Pantone notes that Ultimate Gray and Illuminating can be a colorful combo used in home design to add a “dose of sunshine and positivity.” They suggest combining the two shades
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