Setting a list price is potentially one of the sharpest thorns in the agent-client relationship. Many sellers believe they know better what their home is worth, and it may be difficult to convince your client to trust your professional opinion. And the internet doesn’t make this process easier.Sellers often consult online automated valuation models, or AVMs, such as Zillow’s “Zestimate,” to get a scope of what their property is worth. But
Toys ‘R’ Us recently announced its plan to close or sell more than 800 of its stores across the country, and some commercial real estate experts are concerned about the hundreds of empty storefronts that will be left behind. Some landlords are already scrambling to find replacements.Many Toys ‘R’ Us and Babies ‘R’ Us locations are between 40,000 to 65,000 square feet. This is “problematic as the list of retailers seeking that
The U.S. Department of Labor’s proposed rule expanding the use of association health plans is a step in the right direction, but more work must be done to refine the plan before making health insurance options available through AHPs, a prominent REALTOR® testified Wednesday on Capitol Hill.Michael McGrew, right, a former NAR treasurer, meets with Rep. Tim Walberg (R-MI), chairman of the House Education and the Workforce Subcommittee on Health
“Adulting” is getting harder for younger generations, which is stymieing the housing market from reaching its full potential, according to Freddie Mac’s latest March Insight report. The report compares young adults to previous generations and the impact to household growth.“For today’s young adults, ‘adulting’ is hard because the economic environment has been tough in recent years; wage growth has been weak and housing costs have
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Fewer new homes were in the pipeline in February, as housing starts for combined multifamily and single-family homes plunged 7 percent month over month, the U.S. Commerce Department reports. Housing production for the month was at a seasonally adjusted annual rate of 1.24 million units.“The fall in housing starts in February is a movement in the wrong direction,” says Lawrence Yun, chief economist for the National Association of REALTORS®.
For your clients who enjoy the perks of small-town living, realtor.com® researchers have identified the best places to call home—and the Midwest reigns supreme. Realtor.com® came up with its 2018 list of most affordable small towns by factoring in the cost of housing, employment, and safety.Millennials have love for small towns, with about 21 percent of home buyers ages 37 or younger purchasing a home in a small town compared to 16 percent
Homeowners and appraisers are seeing more eye-to-eye when it comes to home values. Appraised values in February were, on average, just 0.53 percent below homeowner estimates—the fifth consecutive month where the gap between the two groups has been less than 1 percent, according to the National Quicken Loans Home Price Perception Index.Still, more than three-quarters of metro areas had appraised values that were higher than owner estimates. Dall
Though homeowners are gaining equity across the country, the number of underwater borrowers in some areas remains high. The metro with the highest share of homeowners with negative equity is Miami-Miami Beach-Kendall, Fla., where the number of those in the red has grown 13.1 percent year over year, according to a new report from CoreLogic.Nationwide, the number of homes with a mortgage in negative equity—which can occur due to a decrease in a
Homeowners who don’t live near a federally recognized floodplain may still be at risk of flooding, and the Federal Emergency Management Agency severely underestimates the number of people who could potentially be affected, according to a new study in the journal Environmental Research Letters.Researchers from the University of Bristol in the United Kingdom, the Nature Conservancy, and the Environmental Protection Agency say that the U.S. pop
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