Over the last 10 years, the price distribution of new homes has changed significantly, as new homes have grown more expensive. Builders blame a weakness among first-time buyers and rising regulatory burdens as the reason for the shift in focus in the pricier tiers of the new-home sector following the Great Recession.The number of new homes that sold for less than $250,000 started to decline prior to the Great Recession. Sales in this segment have
Townhomes are now the fastest-growing segment of the single-family housing construction market, according to the National Association of Home Builders. Construction of townhomes surged 17.8 percent from 2014 to 2015. That is compared to a 10 percent increase of construction of detached single-family homes and a 12.1 percent increase in co-op, condo, and apartment construction in that time period.Last year, townhomes comprised about 12.4 percent o
Home sellers say the greatest challenge for them this year is the lack of homes to choose from when it’s time for them to move, according to a new survey of more than 800 real estate professionals from Redfin.“It’s a seller’s market, but the catch is, most sellers need to buy as well,” says Eileen Lorway, a Redfin real estate professional in the Boston area. “This is a conversation I have with many clients at our first meeting. We dis
Pushing out listings via e-newsletters to prospective clients is great, but what about clients who have already closed? Keeping in content with past clients ensures they’ll remember you next time around and increases your chances for referrals.E-newsletters are still an effective marketing strategy to connect with your sphere. If your company is currently sending a content-based email campaign or considering one, here are some ideas for keeping
Areas of the country with legalized marijuana are seeing a major impact on their real estate. More than two dozen states now have legalized pot for recreational or medical use and are reporting a spike in demand for factories, warehouses, and self-storage facilities to cultivate and process marijuana plants and products. Suburban strip malls are being retrofitted to distribute pot.Landlords are charging a premium to new tenants working in the can
The pace of rising rents is slowing in many of the priciest markets and is now spreading to other parts of the country. That’s good news for renters, especially those who are looking to save more to buy a house one day.Rents nudged up by 0.4 percent from February to March, according to data from Apartment List. Data from Abodo shows rents increased only 0.2 percent on one-bedroom apartments from March to April.“There’s a large number of new
Builders like to spotlight the latest trends in their model homes to entice buyers. These are some of the trends they’re featuring lately.1. Quartz countertops: Buyers are showing willingness to spend the most in upgrading their kitchens, and one of their first targeted upgrades tends to be the countertop, says Lesley McCarthy, Builders Design regional vice president. They’re opting for quartz over granite. Granite has become the standard in
The housing crisis may also have sparked the increase in student loan default rates, according to a working paper by the National Bureau of Economic Research.The study says the drop in home prices during the Great Recession also coincided with a 24 to 32 percent rise in student loan default rates. Researchers looked at administrative student loan data along with ZIP code home price data for about 300,000 student loan borrowers in repayment during
Homeowners are tapping into equity at the fastest rate in eight years, thanks to rising home prices. And millennials are leading the pack of those who are cashing in.In 2016, the number of homeowners with potentially “tappable” equity rose to 39.5 million—those are borrowers who have at least 20 percent equity in their homes, according to Black Knight Financial Services.Millennials, in particular, are turning to HELOCs—home equity lines o
Featuring 16-plus marketing testimonials for harnessing the social media giant, real estate agents’ biggest mistakes and advice from the expertsKey Takeaways Video engages Facebook audiences the most, followed by property listings and images and infographics. If a Facebook ad does well, keep investing in it and ride the wave.How many of Facebook’s 1.86 billion users could be a real estate agent’s next lead?The social media top dog is a well
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