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Real Estate

Corporations Flee Suburbs, Head Downtown

NAR Daily News Magazine - August 1, 2017 - 11:00pm

Is this a death knell for the suburbs, or is the office space industry falling prey to a fickle trend?

Categories: Real Estate

Housing Responding to Multigen Trend

NAR Daily News Magazine - August 1, 2017 - 11:00pm

Don’t be surprised if you field more requests for homes that can fit multiple generations under one roof. The number of extended families...

Categories: Real Estate

Relationships, Marketing Key to Satisfaction

NAR Daily News Magazine - August 1, 2017 - 11:00pm

Find out which real estate franchises are managing these two factors most successfully, according to J.D. Power's 2017 Home Buyer/Seller...

Categories: Real Estate

Stagnant Mortgage Rates Stall Loan Demand

NAR Daily News Magazine - August 1, 2017 - 11:00pm

Mortgage applications edged back down again this week as pressure to lock in low rates decreased. 

Categories: Real Estate

Common Overlooked Expenses of Owning a Home

RisMedia - August 1, 2017 - 2:04pm

Homeowners spend an average $9,080 each year on common, yet often overlooked expenses associated with owning a home, including maintenance and utilities, according to a recent analysis by Zillow. The breakdown is as follows:

  • Homeowners Insurance/Property Taxes/Utilities – $6,059
  • Professional Home Maintenance – $3,021

(Note: Homeownership costs vary considerably by location—see chart below.)

“Determining how much a home will ultimately cost you each year and what you can afford is one of the most challenging aspects of home-buying, especially for first-time buyers,” says Dr. Svenja Gudell, chief economist at Zillow. “Before starting a home search, take a good look at your finances to determine a monthly payment range you can comfortably afford. While that big backyard or larger home may be appealing, it is important to consider how much maintaining those spaces could cost you.”

“While it may be tempting for homeowners to think they can cut costs by doing home maintenance projects themselves, hiring a trained professional to take them on can save them time, anxiety and most likely money in the long run,” says Lucas Puente, economist at Thumbtack, which also conducted the analysis. “Across the U.S., buyers should be prepared to spend at least a few thousand a year in home maintenance costs.”

For more information, please visit www.zillow.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Common Overlooked Expenses of Owning a Home appeared first on RISMedia.

Categories: Real Estate

Bob Goldberg Takes Reins as NAR’s 12th CEO

NAR Daily News Magazine - July 31, 2017 - 11:00pm

NAR president promises the new chief executive will launch “a fresh chapter in our association’s 109-year history.”

Categories: Real Estate

Should Housing Fear a Price Correction?

NAR Daily News Magazine - July 31, 2017 - 11:00pm

Sharp price corrections are rare, even following a large run up in home prices, according to a new study. 

Categories: Real Estate

Freddie Mac to Restrict 1% Down Mortgages

NAR Daily News Magazine - July 31, 2017 - 11:00pm

Starting Nov. 1, the mortgage giant will impose stricter rules on how borrowers fulfill down payment requirements.

Categories: Real Estate

5 Questions to Ask a Home Inspector

NAR Daily News Magazine - July 31, 2017 - 11:00pm

Home buyers would be wise to interview a home inspector before they hire one. Here are some questions to ask. 

Categories: Real Estate

Builder Uses VR to Show Kitchen Design Options

NAR Daily News Magazine - July 31, 2017 - 11:00pm

The tool allows home buyers to visualize a house as they would want it to look, says a spokesman for Toll Brothers.

Categories: Real Estate

Private Investors Emerge as a Global Force

NAR Daily News Magazine - July 31, 2017 - 11:00pm

They now account for more than a quarter of commercial real estate transactions worldwide. 

Categories: Real Estate

Sellers Net Highest Profit in a Decade

NAR Daily News Magazine - July 30, 2017 - 11:00pm

But there’s a catch that may make some reconsider whether soaring home prices make selling worth it.

Categories: Real Estate

Home Sales Poised to Reverse Downward Trend

NAR Daily News Magazine - July 30, 2017 - 11:00pm

Contract signings in June post an uptick across most of the country, suggesting real estate professionals are seeing a comeback in market activity...

Categories: Real Estate

Consumers Cast Doubt on Mortgage Servicers

NAR Daily News Magazine - July 30, 2017 - 11:00pm

Many believe banks prioritize profits over people’s needs, but these servicers ranked highest on customer satisfaction, according to J.D....

Categories: Real Estate

8 Cities Where People Can Launch Their Career

NAR Daily News Magazine - July 30, 2017 - 11:00pm

These places offer entry-level workers the brightest opportunities for long-term success, according to realtor.com®.

Categories: Real Estate

Redfin Shares Surge Amid Stock Market Debut

NAR Daily News Magazine - July 30, 2017 - 11:00pm

The online real estate brokerage joined the Nasdaq on Friday under the symbol “RDFN.”

 

 

Categories: Real Estate

Ranked: 10 Affordable Towns With High-Rated Elementary Schools

RisMedia Consumer News - July 30, 2017 - 11:02am

Communities with sought-after schools often command a premium for homebuyers. Realtor.com® recently uncovered 10 towns where not only public elementary schools earn high marks, but also home prices make the grade—in affordability.

1. Aurora, Ill. (60503)
SchoolsHomestead Elementary School (rating 10/10 on GreatSchools), The Wheatlands Elementary School (8/10), Wolfs Crossing Elementary School (10/10)

The 2017 median household income in Aurora is $114,118 with a 2017 median listing price of $259,900. Aurora is 45 percent more affordable compared to its surrounding metro area, and 47 percent more affordable compared to the U.S. overall.

2. Stone Mountain, Ga. (30087)
School: Wynbrooke Elementary School (9/10)

The 2017 median household income in Stone Mountain is $71,678 with a 2017 median listing price of $218,950. Stone Mountain is 38 percent more affordable compared to its surrounding metro area and compared to the U.S. overall.

3. Hampton, N.J. (08827)
SchoolUnion Township Elementary School (8/10)

The 2017 median household income in Hampton is $118,810 with a 2017 median listing price of $297,000. Hampton is 60 percent more affordable compared to its surrounding metro area, and 37 percent more affordable compared to the U.S. overall.

4. Royersford, Pa. (19468)
SchoolsBrooke Elementary School (9/10), Evans Elementary School (8/10), Limerick Elementary School (9/10), Spring-Ford Intermediate School 5th/6th (9/10), Upper Providence Elementary School (9/10)

The 2017 median household income in Royersford is $83,264 with a 2017 median listing price of $246,125. Royersford is 21 percent more affordable compared to its surrounding metro area, and 32 percent more affordable compared to the U.S. overall.

5. Kingwood, Texas (77345)
Schools: Deerwood Elementary School (9/10), Greentree Elementary School (10/10), Hidden Hollow Elementary (9/10), Shadow Forest Elementary School (10/10), Willow Creek Elementary School (10/10).

The 2017 median household income in Kingwood is $123,201 with a 2017 median listing price of $323,750. Kingwood is 46 percent more affordable compared to its surrounding metro area, and 32 percent more affordable compared to the U.S. overall.

6. Rosemount, Minn. (55068)
School: Shannon Park Elementary School (10/10)

The 2017 median household income in Rosemount is $93,743 with a 2017 median listing price of $299,900. Rosemount is 30 percent more affordable compared to its surrounding metro area, and 32 percent more affordable compared to the U.S. overall.

7. Bowie, Md. (20715)
Schools: Whitehall Elementary School (8/10), Yorktown Elementary School (8/10)

The 2017 median household income in Bowie is $107,865 with a 2017 median listing price of $345,350. Bowie is 29 percent more affordable compared to its surrounding metro area, and 27 percent more affordable compared to the U.S. overall.

8. Huntington Woods, Mich. (48070)
School: Burton Elementary School (8/10)

The 2017 median household income in Huntington Woods is $120,265 with a 2017 median listing price of $400,000. Huntington Woods is 15 percent more affordable compared to its surrounding metro area, and 27 percent more affordable compared to the U.S. overall.

9. Stow, Mass. (01775)
School: Center School (8/10)

The 2017 median household income in Stow is $139,622 with a 2017 median listing price of $504,750. Stow is 45 percent more affordable compared to its surrounding metro area, and 23 percent more affordable compared to the U.S. overall.

10. Chandler, Ariz. (85226)
Schools: Kyrene De La Mirada School (9/10), Kyrene De La Paloma School (8/10), Kyrene De Las Brisas School (9/10), Kyrene del Cielo School (10/10), Kyrene Traditional – Sureno Campus (9/10), Paragon Science Academy K-12 (9/10)

The 2017 median household income in Chandler is $80,130 with a 2017 median listing price of $324,155. Chandler is 30 percent more affordable compared to its surrounding metro area, and 20 percent more affordable compared to the U.S. overall.

“When searching for a new home, finding something affordable in a good school district with family-friendly features, such as large backyards, tops the list of homebuyer priorities,” says Javier Vivas, manager of Economic Research for realtor.com. “These markets offer strong public schools and affordable homes, making them a great fit for homebuyers with elementary school-age children.”

The ranking was determined by identifying ZIP codes within the top metropolitan areas in the U.S. that contained at least one public school ranked eight out of 10 or higher by GreatSchools, then calculating affordability by factoring in the ZIP code’s median income and median-priced home with monthly mortgage payment and other cost data.

For more information, please visit www.realtor.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Ranked: 10 Affordable Towns With High-Rated Elementary Schools appeared first on RISMedia.

Categories: Real Estate