As the rental market surges, investors are looking to extend their portfolios. Many investors are mom-and-pop investors, who own one or two properties. But where can rental investments offer the biggest returns over the long term?SmartAsset, a personal finance resource, analyzed 120 U.S. cities with populations of 200,000 or more to determine which markets pose the most favorable home investments. They...
Most kids are heading back to school in person this year, but many parents are still coveting the virtual classroom spaces they created at the start of the pandemic. Many real estate pros believe they’re still a selling point, too.Real estate pros continue to market and stage such spaces to attract potential home buyers.“The family’s priorities have changed. People want these learning centers,”...
In 2020, home buyers left states with high taxes and pricey housing in favor of lower-cost metro areas, such as Texas, Florida, North Carolina, South Carolina, Georgia, and Tennessee, according to CoreLogic’s 2020 Hottest Cities for Homebuyers Report.“The pandemic created a perfect recipe for consistently employed Americans,” said Archana Pradhan, CoreLogic’s principal economist. “If it had been...
Higher home prices are translating into mega wealth for those who own.Thirty-four percent of residential properties in the U.S. with a mortgage were considered “equity rich” in the second quarter, which means the combined estimated amount of loans secured by the properties was at least 50% of its estimated market value, according to a new report from ATTOM Data Solutions. The number continues to grow,...
New fears over the fast-spreading COVID-19 delta variant are moving mortgage rates lower. The 30-year fixed-rate mortgage spent another week under 3%.“With global uncertainty surrounding the delta variant of COVID-19, we saw 10-year Treasury yields drift lower and consequently mortgage rates followed suit,” said Sam Khater, Freddie Mac’s chief economist. “The 30-year fixed-rate mortgage dipped back...
One of the first steps before listing a home for sale is often clearing the clutter. But that can be tough for homeowners, who may already be overwhelmed with the prospects of moving, let alone going through all their items and deciding what stays and goes. The National Association of REALTORS® announced on Thursday a partnership with 1-800-GOT-JUNK that offers real estate pros discounts for themselves or...
More homeowners say they plan to renovate their homes this year, and they are increasingly planning to take advantage of higher home prices and use their home’s equity to complete the renovations, according to Bank of America’s “2021 Homebuyer Insights Report: Home Improvement and Equity Spotlight.”As home prices surge, more homeowners are tapping HELOCs to make significant home improvements. Gen X...
The COVID-19 pandemic has fueled an acceleration in online transactions, including in real estate. The majority of U.S. adults are comfortable completing financial purchases digitally, too, finds a new survey released by Notarize, a company that offers remote online notarization. Eighty-one percent of 2,000 U.S. adults who responded say they feel secure making financial transactions online. But extra...
Bidding wars and high home prices are increasingly sidelining first-time home buyers. To make matters more challenging, they are also up against investors willing to pay cash for a home, which they are typically unable to do. They are losing out on homes facing multiple offers and missing some of the lowest mortgage rates of all time—under 3%. But “the American dream is not dead,” Jessica Lautz,...
Drones, cybersecurity, and 5G cellular networks are expected to have the biggest impact on the real estate business over the next two years, according to the newly released 2021 Technology Survey conducted by the National Association of REALTORS®. “The pandemic has confirmed to all of us in the industry that technology will continue to transform real estate,” said NAR CEO Bob Goldberg. The survey...