Underdeveloped midsized markets are poised to be investment hot spots next year, offering more affordable housing and attracting a younger workforce, according to the Urban Land Institute’s Emerging Trends in Real Estate 2019 report. “The keyword for real estate’s future performance is ‘transformation’—in technology, in generational choices, and in a reconfiguration of preferences related to geography and property types,” ULI Glob
First comes the house and then maybe marriage or children, according to surveyed millennials detailed in Bank of America’s 2018 Homebuyer Insights Report, which was culled from 2,000 consumer responses. The survey finds that 23- to 40-year-olds value homeownership above nearly everything else: 72 percent call it a top priority compared to 50 percent who say getting married or 44 percent who say having children are top priorities. “Being able
Foreclosures are disappearing from most community listings. Foreclosure filings—default notices, scheduled auctions, or bank repossessions—fell 6 percent in the third quarter, dropping to the lowest level since the fourth quarter of 2005. Foreclosure activity in the third quarter is now 36 percent below the pre-recession average of 278,912 properties with foreclosure filings, according to ATTOM Data Solutions’ latest report.“A decade aft
Hurricane Michael pummeled parts of Florida’s Panhandle Wednesday as a strong Category 4 storm, leaving a long 200-mile trail of destruction that ripped off roofs and submerged neighborhoods in water. More than 375,000 residents who live in the Panhandle were warned to evacuate, and many will soon return to fully assess the damages to their homes and businesses.“We’re Floridians—we know that disasters can happen at any time,” says Ch
Homebuilding giant Lennar is reportedly looking to sell its real estate lending arm, Rialto Capital, as builders continue to face a stagnant housing market, The Wall Street Journal reports.Lennar has declined to comment publicly on the recent news reports, but in an investor call last week and in April it did confirm it was considering selling Rialto as part of the company’s strategy of spinning off or selling its subsidiaries. The sale cou
Hurricane Michael gained strength early Wednesday to a powerful Category 4 storm that is threatening to become the strongest storm ever to strike the Florida Panhandle. The storm is expected to make landfall Wednesday afternoon, bringing destructive winds and flooding rain throughout the day.If the storm continues its intensity and makes landfall as a Category 4, CoreLogic, a real estate data firm, predicts that about 84,200 homes in the Florid
Stay on top of trends and opportunities to be valuable and trustedThe times they are a-changin’. It was true for Bob Dylan in 1964 and it’s true for the real estate industry in, well, it’s always true.If you commit to a career as a professional real estate agent, it is vitally important to stay apprised of the market and industry changes. Your continuing education cannot simply be the classes you are required to take to maintain your licens
Many buyers may be potentially leaving money on the table by failing to contact more than one lender when shopping for a mortgage. Two-thirds—or 65 percent—of 1,000 buyers recently surveyed said they didn’t shop around for a mortgage, despite it being the biggest purchase they’ll ever make.The study, conducted by PenFed Credit Union, also found a lot of confusion surrounding mortgages. For example, 44 percent of home shoppers believe the
Federal authorities have been investigating whether foreign buyers are using shell companies to buy luxury real estate in the U.S. to launder money. Lawmakers, however, are calling on the government to do more to determine the prevalence of such scams and find more ways to curtail it.Sens. Chris Van Hollen, D-Maryland, and Sheldon Whitehouse, D-Rhode Island, are calling on the Government Accountability Office to investigate the occurrence. The se
Some second home markets not only offer relaxing getaways, but could also prove to be a wise investment. Realtor.com® researchers recently ranked the most lucrative second-home markets, where sellers stand to cash out with some of the largest profits.Realtor.com® analyzed the 500 largest metro areas where second homes comprise at least 12 percent of the properties. They focused on the homes sold over the past 12 months and then compared the mos
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