Young adults express such a strong desire to own a home that they are willing to take on extra work or make another major sacrifice in order to afford one. Thirty-six percent of millennial home buyers say they’ve taken a second job to save for a down payment, according to a new Redfin survey of about 500 respondents between the ages of 24 and 38 who plan to buy their first home in the coming year.The top concern among these first-time home buye
More commercial buyers are taking a page from the coworking trend, in which office space is used in a more communal way. Operators of coworking spaces typically sign a lease for a generic office and build out areas for numerous desks and amenities often geared toward community. Operators then sublease those areas at a premium, and on short, flexible terms, to individuals or companies looking for smaller office space.“Coworking is upping the gam
Homes in new communities can sometimes look alike. But luxury builders are hoping to make their properties stand out with extravagant features such as champagne vaults, candy rooms, and bowling alleys. One Los Angeles development company has even included a shark tank in one of its spec homes, Curbed.com reports.The home, fittingly dubbed the “shark house,” features a 300-gallon, two-foot-deep tank containing three hound sharks, a remora sha
For the first time in decades, the population growth of urban cities is keeping pace with the suburbs, according to a joint report by the Urban Land Institute and RCLCO Real Estate Advisors. More than 29 million Americans now live in urban neighborhoods.Between 2000 and 2015, the population of urban downtowns rose by 1 percent—well below the suburbs’ 13 percent growth. However, urban and suburban areas grew at about the same rate between 2010
Authorities in the United States and Africa have arrested eight people for alleged involvement in an international online fraud scheme that targeted Crye-Leike, a real estate company based in Memphis, Tenn., as well as other entities. The suspects, along with four others who are still at large, are accused of attacking computer servers and using bogus email messages to steal millions of dollars from individuals and companies involved in property
The U.S. Housing and Urban Development released new income guidelines for who can qualify for its low-income housing assistance, and one city’s “low income” level is turning heads. In San Francisco, HUD has deemed those earning $117,400 a year as having low income. The income is based on a family of four.Each year, HUD sets income limits that determine who can qualify for housing assistance, such as Section 8 vouchers, public housing, and
Consumers who buy a condo or refinance an existing condo mortgage may be eligible to bypass an in-person appraisal and have a faster automated appraisal, Freddie Mac announced this week.Freddie Mac’s automated collateral evaluation appraisal waiver gives eligible borrowers of mortgages for condos the opportunity to save on the traditional appraisal. Borrowers could save about $500 on appraisal fees and potentially close seven to 10 days faster,
How fast does your website load on a mobile device? The answer could dictate how many people will easily find your website.Web traffic from mobile and tablet devices have accounted for a higher percentage of traffic than desktops since 2016. Over the past few months, Google has been rolling out a mobile-first index, which could have a major impact starting this summer on the SEO performance of websites that are slow on mobile devices. Google me
A coalition of fair housing advocates, led by the National Fair Housing Alliance, filed a federal lawsuit against Bank of America and Safeguard Properties Management this week that alleges the firms failed to provide routine exterior maintenance on foreclosed homes in neighborhoods with predominantly African-American and Latino residents.The NFHA is accusing Bank of America in the lawsuit of neglecting 1,600 homes across 37 U.S. metro areas. The
Real estate professionals accustomed to using Facebook’s “likely to move” ads are receiving notice that the social network will be shutting the feature down in mid-August. If you’re currently using the Facebook tool, you may be searching for another avenue for customer outreach and ad targeting online.Facebook’s “likely to move” ad platform culls data from third-party sites to identify consumers who show signs of relocating soon. Th
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