As Hurricane Harvey moves off the coastline of Texas, it's leaving massive flooding in its wake that has destroyed homes and businesses.Until the floodwaters recede, cleanup efforts are mostly on hold. But remediation companies say they’re ready to jump into action as soon as they’re able. In preparation for the undertaking, here are a few important items to share about repairing a flooded home, compiled by realtor.com®.Time is of the essen
Real estate professionals across the mid-Atlantic are finding home buyers are placing a higher value on outdoor spaces and their potential for entertainment, according to The Washington Post. Here are the specific amenities that are proving most beneficial to sellers in marketing their properties:The outdoor kitchenThese spaces are becoming more than just a simple dining set and grill. They are now being outfitted with an outdoor refrigerator, s
The average homeowner is spending more money on a greater number of home improvement projects, according to HomeAdvisor’s 2017 True Cost Survey, a study of 14 million service requests received between July 2016–17. However, the projects vary by generation, income, and geography, the study finds. Here are the top five most popular home improvement projects by generation.Millennials Install outdoor play equipment Install childproofing Install
The prices of newly built homes are rapidly rising, which may have caused the plunge in new-home sales last month, CNBC reports. Sales of newly built single-family homes tumbled 9.4 percent month over month in July to a seasonally adjusted annual rate of 571,000 units, the U.S. Department of Housing and Urban Development and the U.S. Census Bureau reported Wednesday. This is the lowest reading for new-home sales since December 2016.The media
While the overall market for new homes is poised to expand, townhome construction is slowing down. Townhouse starts totaled 94,000 over the last four quarters, 5 percent lower than the previous four-quarter period, according to the National Association of Home Builders. Townhouses—or single-family attached housing—comprised 25,000 starts during the second quarter of this year alone, which is 14 percent lower than a year ago.The market share o
Developers are turning to wood framing as a more affordable building material, but officials are warning of some dangers after reports of several wood-frame buildings catching fire across the country.Wood framing is increasingly being used in apartment construction and is largely considered safe once construction is completed. But wood framing can be vulnerable to fires before the interior wallboard and other safety features—like sprinklers and
Builders failed to ramp up inventories last month, despite increasing demand from home buyers and calls from the real estate industry. New-home construction dropped 4.8 percent in July to a seasonally adjusted annual rate of 1.16 million units, the U.S. Department of Housing and Urban Development and Commerce Development reported Wednesday.Single-family production fell 0.5 percent month over month in July to an adjusted annual rate of 856,000. Th
Housing shortage in America might intensify, says NAR chief economistKey Takeaways In July, new residential construction starts slipped down to a rate of 1,223,000 units -- a 4.1 percent month-over-month decrease.June’s housing starts report was heralded as “welcome news” by National Association of Realtors (NAR) Chief Economist Lawrence Yun, who said increasing residential construction was the key to lowering home prices.This month, howeve
Kitchen remodels don’t come cheap. The average cost to update a 200-square-foot kitchen—including installing new flooring, semicustom wood cabinets, and standard appliances—is a whopping $62,000, according to Remodeling Magazine. Homeowners who want to add in more luxurious touches, such as stone countertops, a commercial-grade cooktop, designer faucets, and top-of-the-line custom cabinets, may pay as much as $123,000.Before your clients
Starter homes are harder to come by as builders struggle to offer more entry-level real estate options amid higher construction costs, a new study shows. Just 16 percent of new homes are selling for under $200,000, down from 44 percent in 2010, according to an analysis by research firm John Burns Real Estate Consulting.The share of new homes priced between $200,000 and $400,000 has increased to 55 percent from 43 percent in 2010, and the share ab
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