Cities along the West Coast, unsurprisingly, have some of the priciest homes in the nation. Among the 10 cities with the highest share of homes worth more than $1 million, four are in California: San Jose, San Francisco, Los Angeles, and San Diego, according to a new LendingTree analysis. In these four housing markets, more than 10 percent of homes are valued above $1 million.LendingTree ranked the top 50 cities with the highest shares of million
If your clients are wavering on whether to buy a home, there are several reasons they may want to get more serious about their real estate search, according to MagnifyMoney, a personal finance website. Most importantly, mortgage rates remain historically low—but that isn’t expected to last. They’ve been rising steadily, but rates for the current 30-year fixed-rate mortgage are still well below 5 percent, compared to nearly 19 percent In 1
Student housing, which tends to offer high returns for investors but also requires more intense management and administration, has proven a difficult niche in the multifamily sector in the past. However, institutional investors are increasingly taking on the heavier lift of student housing in order to build a safety net with the healthy returns.Greystar, a multifamily investor and affiliate of The Blackstone Group, recently announced a $4.6 billi
After a brief slowdown in the growth of rental prices, they were back on the rise last month, with the national average rent soaring to an all-time high, RentCafé reports. In June, actual rents in the 250 largest U.S. cities rose 2.9 percent and reached an all-time high of $1,405. Renters, on average, are paying $40 more per month than they did a year ago. Renters in Orlando, Fla., saw one of the largest year-over-year increases, at 8.4 percent.
Waterfront property is a hot commodity, but finding an affordable place with a view can prove challenging. “If you want to be on a larger body of water, you’re typically going to pay more. ... You’ll have more fishing opportunities, boating opportunities, and recreational [and dining] opportunities,” Jim Billig, president of Sportman’s Connection, told realtor.com®. “The smaller lakes ... are going to be more affordable."Realtor.com
A shortage of homes for sale and tough competition from other prospects may be prompting more buyers to suffer from remorse post-purchase, according to the latest ValueInsured Modern Homebuyer Survey.Sixty-two percent of Americans believe people who buy a home now will have remorse about the purchase within a year due to the cost, according to the survey.“Home payments in some areas are swallowing up 45 percent of local median income,” Val
Mortgage rates were back down across the board again this week, offering some temporary relief to home buyers. Rates posted a rapid increase throughout most of the spring but have recently reversed course, declining in five of the past six weeks. The 30-year fixed-rate mortgage is now at its lowest average since April.“The run-up in mortgage rates earlier this year represented not just a rise in risk-free borrowing costs, but for investors, the
A sharp drop in mortgage interest rates last week wasn’t enough to get overall mortgage applications moving. Total mortgage application volume—for refinancing and home purchases—eased 0.5 percent last week on a seasonally adjusted annual basis compared to the previous week, the Mortgage Bankers Association reported. Loan volume is now 13.5 percent lower than a year ago.Broken out, refinance applications were down 2 percent for the week and
Californian cities no longer dominate realtor.com®’s top-performing housing markets list as they have for the past six years. Instead, higher home prices may be prompting more home buyers to look elsewhere.Overall, home prices nationwide continued to escalate in June, with the median listing price nationwide at $299,000, a 9 percent year-over-year increase, according to realtor.com®. The higher home prices are prompting more buyers to face af
More vacation and investment property owners intend to rent out their homes as short-term rentals this year, according to research from the National Association of REALTORS®.Twenty-five percent of those with vacation properties and 24 percent with investment properties rented their home as a short-term rental in 2017—30 and 32 percent, respectively, plan to do so in 2018, according to NAR.Forty-five percent of investment buyers say they purcha
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